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Technology Stocks : C-Cube
CUBE 37.90+0.6%Jan 12 3:59 PM EST
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To: Andy Chen who wrote (774)6/9/1996 9:43:00 PM
From: Jim Roof   of 50808
 
Technical Analysis - reality check. I don't know if I would want to be long in a stock for the long haul whose buying force is that heavily influenced by a possible short squeeze. What's going on with CUBE has been going on for quite a while and the cure for it will take quite a while too.

CUBE's top of 73 is the top of a huge broadening formation that carries with it rather ominous implications. Interpretations of these patterns usually lead to a target price which is as far removed arithmetically from the downside breakout as the breakout is removed from the top. That takes CUBE into the 20's.

Please don't misunderstand me. I am not a bad guy and I have no axe to grind nor any position in CUBE at this moment (I have been short twice and long once, the last short got stopped out for no gain). The problem with CUBE is the average outlook of their investors at this moment. Since the high at 73 it has been down. And those who bought on the way down and were smart or lucky enough to buy in the low forties are watching closely now. Many of these are short term players who have enjoyed CUBE's wide swings and would just as soon sell this issue as they would Quaker Oats (if they haven't already - in which case the situation is even worse - those last buyers are already staring at a loss).

For your sake I hope I am wrong - but the chart speaks rather clearly.

Jim Roof
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