Hi guys,
THQI 20 3/16 ÿÿ+2 5/16 (+12.94%)
THQ closed strong today....coupled with a nice break of a short-term descending triangle pattern. Volume could have been a little higher to support the break, but perhaps we will see some additional strength in the coming sessions up to $25. Check it out:
members.aol.com
Could it be the beginning of some short covering?
SI still seems a little large for THQI.
Date Short Int Avg Vol Days to Cover
Feb. 15 4,990,612 944,174 5.29
Jan. 14 5,620,920 808,679 6.95
Dec. 15 4,681,481 561,806 8.33
Nov. 15 5,600,229 755,918 7.41
Oct. 15 5,216,636 747,045 6.98
At any rate, THQI might merit some watching. If volume picks up and we see additional strength, we could easily test $25, IMO.
Not sure if this is related to the WWFE earnings news.
WWF Entertainment 3Q00 Pro Forma EPS Up 28% to $0.23
Worthy of mentioning in the PR:
"....243% increase in licensing revenue due to the
continued success of WWF branded toys by JAKKS Pacific,
Inc. (NMS: JAKK); the launch of Wrestlemania 2000 for
Nintendo 64 by JAKKS and THQ Incorporated (NMS: THQI);
and the debut of WWF The Music Volume IV."
biz.yahoo.com
On a side note:
I recently have been shopping for new Dreamcast games, and I happened to notice that anything WWF game-related does not stay on the shelves in any format. The WWF following is truly bizarre....could the WWF be the ass-kicking motivator for THQ going forward?
Regards,
B
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