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Technology Stocks : Amati - MAIN THREAD
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To: Emile Vidrine who wrote (666)7/14/1996 9:49:00 PM
From: Jim Roof   of 700
 
Emile,

I see the top of the right shoulder (the third peak) on 7/02. The neckline was broken on last Thursday's close (neckline at about 41). The trade should be placed ideally around the neckline once decisive penetration has occurred (and it has). The best trade would be at 40-42 but you may not see this price if the market is rotten tomorrow.

I plan to short on a rally tomorrow but it is so close to the right price now and it has a target move of about 15-16 points that I think anything above 35 will be a winner. IF it gaps down tomorrow I will jump on it ASAP.

SYSF has a PE of about 100 and I think that is fundamentally a bit overpriced for a software company in these times.

Good luck Emile,

Jim

PS. Check here for where we will be setting up a new thread dedicated to good short selling opportunities. If the market is rounding over here to a bear market then these opportunities will become more and more available and more and more profitable.
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