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Strategies & Market Trends : Shorts waiting to happen

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To: Maynard E. "Buzz" Mills who wrote (277)	7/17/1996 4:14:00 PM
From: Jim Roof	of 852

"Buzz", No. The rally was impressive for it's length but the bulk of it ocurred on small orders and fairly light volume (the last big spurt from 35-39 was on about 200k). SYSF has rallied from its breakout to just below the neckline. It has retraced about 48% of its breakout move and this action is not unexpected. I was not sure as to whether or not the one day of up trading on Monday was a retracement or not so I shorted at 36 the following day. I am now pretty sure that move was NOT the retracement and that today's is. It is possible that SYSF could trade even higher tomorrow but VTSS did the same thing a few weeks back (even stronger move one very heavy volume) and this high point did not stick for long. I took today as an opportunity to short more at 38 1/4. Fundamentally, what is a 100+ PE stock doing hanging around in the software department anyway? I still think it will get hit and VTSS with it. Jim

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