Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: ted birnbaum who wrote (7303)	11/19/1997 10:22:00 PM
From: Roger A. Babb	Read Replies (3) of 9285

Ted, CTXS (along with SEBL and YHOO among others) have recently been exhibiting what I call "wounded bull" patterns. They crash on the slightest bad news, but then recover. ZITL did this around $20 for a while, and earlier in the $35 range. It means that the long holders are nervous and a lot of shares are moving from funds and insiders into weak hands. Eventually it does not recover from one of the dives, the bull dies as it did with ZITL. It remains to be seen how seriously the CTXS bull is wounded, its demise may take a while. And wounded bulls are known to get back up and make a last charge.

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