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Technology Stocks : C-Cube
CUBE 37.90+0.6%Jan 12 3:59 PM EST
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To: Jim Roof who wrote (808)6/9/1996 10:00:00 PM
From: Andy Chen   of 50808
 
now we hear it from a technie.

i am glad you mentioned this.

according to pro tech traders, cube is a great short target. on top of
the weak technical buying support and aggressive projection of
downward target (due to the fact that cube had a huge run-up with
no consolidation on the way up), cube is suffering from temporary
fundamental problems (such as delay in dbc market, supply/demand
glut regarding PC makers last year, and the seasonal nature of the
consumer electronic OEM).

this is a good indication of the high short interest in cube and what
they may be thinking. short interests has been increasing when cube
go from the 70-60-50-40 level. instead of covering and take profit
professional technical shorts have been adding on to their position.

at the top of the chart. we see fidelity/montgomery and other mutual
fund unloading HUGE amount of shares to trigger this technical
down trend.

target price of $29 is aggressive, for a stock at $60. i would think
something is wrong with this picture.

however, we should see a huge take-over interest in cube in the
30-40 area (if the stock ever drop down to this level).

this take-over interest is independent of mutual fund interest. and,
therefore, not predictable by technical analysis.

for the present time, i feel sorry for individual investors who sold cube
at a loss. (i encourage you to take profit in the stock, if you "STILL"
haven't take your profit) or you can simply write options to protect
yourself from downward movement.

don't fall for the hype. its the mutual funds. they can draw any chart
at will.

--i will continue my venture to find long-term investment support for
c-cube microsystem.
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