OK lets take a look. last time Cohu was this extended was mid July, it was 10 points from the 21 dma. did it fall? no the 21 dma caught up and it ran again.
My feeling about shorts is this. Either show me something on the chart, like a double top, or a breakdown of some sort of a moving avg, or forget it. Tons of stocks are extended and can be extended for a long time. I think there are better stocks to short than one that just broke out on big volume. Just because it is extended doesn't mean it is going down anytime soon. It might, but there are better shorts out there, not to mention that spread which can whipsaw you good. for a little more, since this is a full service site, the MACD is confirming this move, as is the RSI. Sure it's oversold, so what.
Charts of interest, 50 day plays. ACTM <ADVS downgrade, then why are they on the bid?>, TLDCF CELL soon, also SFDS nice move.
Joe saw ecgof move out of inverted H & S, nice.
will watch for breakout
my mystery stock is SPLH, this is from RDUS 10Q
On October 8, 1996, Splash completed its initial public offering of Common
Stock which reduced the Company's ownership position to approximately 14.6
percent. Consequently, the investment which will be available for sale,
subject to certain market trading restrictions, approximating 1.6 million
shares, is accounted for in accordance with FASB 115. The unrealized gain of
$52.1 million based upon the closing price of $33.25 per share on June 27,
1997 is recorded, net of deferred taxes of none, as a component of
shareholders' equity at June 30, 1997. Splash has filed with the Securities
and Exchange Commission for a public offering of its Common Stock and the
Company is one of the selling shareholders in this offering.
I think SPLH has some pressure on it with regard to the secondary and the RDUS stock that was out there. Now that it is over, I think it's a buy above 35.
NINE-coming out of bottom
FIBR-delayed earnings, maybe another play tomorrow
BEAS-hard to tell if they missed the quarter
CTYS-interesting valuation
ZIGO-hate this company <g>, going to short it all day tomorrow to get revenge. <g>. just kidding, great co. will reenter but not going to chase it tomorrow on IBD story. still batting 100% on it. |
