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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject4/30/2001 10:21:38 PM
From: Michail Shadkin   of 6873
 
ONIS - an amazingly bloated PIG
ONI Systems Corp. develops, markets and sells communications networking equipment, based entirely on optical technology, for metropolitan area and regional networks.

Current price is 35.93
Market cap is 4.9 billion
Short interest is 7.8%

Current quarter estimate is -6 cents
2001 estimate is -14 cents
2002 estimate is +21 cents

Forward 2002 PE is 171 ha ha ha ha

Here is a link to the insider sales and 144s filed
biz.yahoo.com

There is 38 pages of 144s filled just since January 1, 2001.
I have never ever seen this kind of insider dumping before.
Last one out please turn out the lights.

Technicals:
minor resistance at 41
major resistance at 55
minor support at 30.50
major support at 24

word of caution - ONIS did break a very major down trend line at 35 a week ago and is sitting slightly above it now.

My view - in 6 month this pos will be lucky to be trading at 15.
I have no position right now.
Looking at around 39-40 as a good entry.

Many Happy Returns
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