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Strategies & Market Trends : Shorts waiting to happen

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To: Fred Weiss who wrote (252)	7/15/1996 1:31:00 AM
From: Jim Roof	of 852

Fred: SYSF - I am using the old-style Magee technical chart patterns for this one and these methods yield a short-term minimum target of about 25. This is stressed as a minimum! After this move is satisfied I would look for some reaction/consolidation to continue the move. AMTX is possibly in this consolidation stage now after fulfilling its initial downside objective. There may be a little bounce in SYSF for the a.m. tomorrow and if it hits 40-41 I'll sell a full unit. If it languishes here I'll short a half unit and do the other half on a rally or confirmed downtrend. ASTF I am also watching closely. Already had one good short trade (if I had been handy and on my toes I could have had two good trades on this one as it bounces around quite a bit). Fundamentals will catch up to this one as well as technicals. I really want to get more people involved who are into technical analysis so that more charts can be shared for these trades. Dppl and I are starting a thread strictly for technical shorts. I'll let you know where it will appear - or you can search for 'short' just like I did to find this one. Keep your eye on VTSS and ASND. Very meager reaction to good earnings for VTSS and ASND may be good if it fails here and heads into lower 50's. VTSS was an unmistakable Head and Shoulders top but it had a torrential rally back to the neckline where it failed (I was short for the second time when it made up 8 points in less than one hour - 5 of those against my position!). I covered for a wash at 21 on Thursday and now I want to get back at it! Look for weakness or a breakout on the downside to about 18-19. If it slides out of this consolidation to this range it should be a cinch to see 12 for a nifty 30-35% in short order. I may short on weakness here (22-24 range). Good trading and thanks, Jim

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