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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Alan Bershtein who wrote (22265)	6/3/1999 2:10:00 PM
From: donald sew	Respond to of 29386

Alan, >>>> do we have to go back and fill the gap? Is the gap viewed as a TA weakness? <<<< The basic rule I use is: 1) UPTREND = HIGHER HIGHS and HIGHER LOWs 2) DOWNTREND = LOWER HIGHS and LOWER LOWs This baby is in a firm uptrend. Filling the gap is not a sign of technical weakness for stocks in a firm uptrend, and should be considered a buying opportunity, market permitting. Not all the time are gaps filled; however I believe that gaps are filled about 75-80% of the time. I am a believer that fundamentals and TA should be used in combination, but since I stink at fundamentals I stick to the mathematical approach of TA. Again I do not discount fundamentals at all, Im just lousey at it so thats one of the reasons I stick to INDEX OPTIONs. gggggggggggggg I am also a believer that FUNDAMENTALs/STRONG NEWs ITEMs can override the technicals, so in no way do I believe that TA is the final call. The correction in the market is still not over, so there will be negative pressures on ANCR which could minimize the upside until early JULY. Thereafter I expect that the market will rebound and possibly rebound hard and ANCR would have strong probability of participating in that rally. Im not saying that ANCR will get that low, but the current bullish trend line is now around 9, so we are significantly above it/in safe territory. Simply put, it looks good. seeya