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To: guy leung who wrote (18)	7/7/1996 11:01:00 AM
From: Michael Burry	of 66

The stock may just be hitting the top of its recent trading range, and the move to 53 has been on light volume. I have scanned the NASDAQ universe with Supercharts, and there are very few stocks out there with strong charts, excepting financial institutions. MCAF, THRX, ORTL, and a few others are about as good as you get in the tech/biotech sector at this point in time. USRX, IOMG, AMER, NSCP, the previous leaders are now in long term downtrends. I think this bodes ill for the market, as how can the market go up if the individual stock charts look so bad? A moderate correction may be in the works, and this would put a lid on a move to 60 by MCAF. That's why I sold the Aug 55 calls. I agree with you though-- very strong stock here.

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