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Strategies & Market Trends : Rande Is . . . HOME
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To: Kaliico who wrote (34512)9/12/2000 1:04:42 PM
From: Rande Is  Read Replies (2) of 57584
 
Short-sell momo players have their hands full trying to keep the lid on PLUG at 56 1/2. This little tug-of-war is worth watching.

Many short-sellers had their heads handed to them today short-selling FCEL on yesterdays sizeable advance. But along with them, I too failed to see the value of FCEL. Take a look at a 60 minute on it, and you will recognize the accumulation that has been going on for some time. . . it was purely a matter of time before it would blow its top.

And PLUG was slowly shorted back from 48 1/2 since Aug 28. . .add this energy to the accumulation that was building in the sector during the same period, between then and now. . . and you can quickly see why PLUG is up over 35% while the rest of the sector is averaging about +17% or so.

Wish I had recognized this disparity PRIOR to today. That would have been a nice ride on the short-covering rally.

The critical difference in this Fuel Cell move is this. . . it is not merely a manic frenzy caused by individual investors. Most individual traders are still busy licking their wounds from the past week or so. But when you add up the total shares traded on BLDP, PLUG or FCEL and multiply it by the share price. . . then divide by 2, since the Nasdaq quotes twice the actual traded volume. . . you still get around $100 million worth in trades on each of these. Hardly the sort of numbers that individual investors put up when they daytrade or swing trade a momentum.

Rande Is
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