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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 679.70

+0.7%

Nov 26 4:00 PM EST

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To: shasta23 who wrote (25700)	3/22/2000 7:04:00 PM
From: Clint E.	Read Replies (2) of 68326

HI STEFAN. Keep an eye on VNWI, one of my clinkers that I bought at ~34 yesterday. The stock appears to be under accumulation and should move soon. In my experience it takes a few days(4-5) after the stock is accumulated in blocks, before moving significantly higher. Also two comments wrt(with respect to) CPTH(my last clinker that I got in at ~99). Firstly, I have decided not to average down in any single stock when I am buying a basket of stocks. Instead, I rather add another stock to my basket. That's why I didn't average down on Monday or Tues. and instead bought other stocks yesterday. Secondly, If you look at its daily chart on last Thusr. quote.yahoo.com you will see how quickly it was taken down from 100 to 90 in a matter of few minutes. It never went back up even though the nasdaq recovered on that day. This really had to do with the news about $250M notes offering: biz.yahoo.com Basically, GS already knew about this deal. They may have decided that in order for them to attract institutional money, they need to bring the stock all the way back to its 50 day moving average(~80). It has to do with how many shares these notes will be converted into, something that is probably not quite worked out yet. I am sure the company will do a road show in the next couple of weeks to make a case for selling these coupons. Once that's all done, you can expect to see 120+. That is my take on CPTH's stock action and that has been my experience with such offerings. Take care; Clint

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