COSI: Starbucks in the rough? Message Board

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Non-Tech : COSI: Starbucks in the rough?

COSI 0.0285

-24.4%

Oct 7 5:00 PM EST

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To: Hawkmoon who wrote (6)	2/5/2004 7:04:18 PM
From: Hawkmoon	Read Replies (1) of 23

Thought I might poke my head in and make a few comments about today's trading action.. I was really a bit concerned yesterday that the stock was going to break down and begin a retracement and consolidation at $2.75 or so... The price climb from the low of $1.70 has been remarkably strong and on relatively light volume, suggesting the shares are being tightly held.. I've seen some comments elsewhere (unconfirmed), such as on Yahoo, stating that the official shareholder list amounts to 271 known shareholders (but that doesn't count stock held in street name)... So COSI remains relatively undiscovered and underfollowed (which is that kind of growth stock I like to invest in as I try to get in front of the rest of the herd). Today's technical action was remarkable in that I FULLY EXPECTED the stock to close under $3.00 a share this afternoon. But low and behold when I was able to get in front of a computer this evening, I saw the stock had put in a major reversal off of today's lows.. If we get good follow-up tomorrow, this could lead to some even higher prices over the coming weeks. First off, "Thor's Hammer"... (on the candlesticks) : bigcharts.marketwatch.com Note the bollinger band "pinch" that combines with that "mother of all hammers". This stock is setting itself up for a major move. Tomorrow's follow-up will determine if that move is biased higher, or lower. Now, if we take a look at the weekly chart, some of us might become discouraged since it appears the stochastics have "rolled over" and put us in a downtrend and consolidation phase (which might be normal).. But after today's action, and the relatively light volume of trading that not indicative of extensive profit taking, we might just be able to squeeze some more upside out of our little stock.. bigcharts.marketwatch.com And the reason I'm more positive becomes evident when we look at the monthly chart: bigcharts.marketwatch.com This chart clearly indicates we have room up to $6/share, but probably more likely $5/share... And I have a suspicion we might see significant progress toward that price target by the end of the month.. Now... let's hope I'm right... hehe Hawk

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