C-Cube Message Board - Msg: 3010653

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Technology Stocks : C-Cube

CUBE 36.92

-0.1%

11:01 AM EST

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To: BillyG who wrote (26925)	12/19/1997 5:41:00 PM
From: Rarebird	Read Replies (3) of 50808

Cube has made a double bottom around the $17.5 level today: The Ice Cube's slide will temporarily subside. Option sentiment on Cube has become quite bearish lately. Open put interest on the Jan. $17.5 and Jan. $20's reflect this: There is more than double the amount of put open interst than call open interest here. When I first went short Cube, option sentiment was wildly bullish. Having come almost full circle here, it was time for a contrarian like myself to cover. And cover I did today: 10,000 shares at $18.5.- 10 points! I think Cube can rally over the short term ( next 2 weeks ) to $22.5. But make no mistake about it: Cube has been and is presently experiencing a severe bear market. The crisis in Southeast Asia will place a lid on the advance here. But enough of that for now. I'm putting on my New Year Rally Cap for the next 2 weeks. There is alot of bearish sentiment in the hi tech sector which will provide a good basis for a countertrend rally here. If you want to make good money as a short term trader, don't ever forget to check those option sentiment readings. It works 85% of the time. PS. For all you fundamentalists here I say this: I still hold to my bearish forecast for Cube over the first half of 98. But I'm a short term transcendental trader who takes my profits and runs when the short term trend reverses. I don't play martyr with my profits in the stock market. I never make the mistake of getting to attached to a company and falling in love with it! It's the profits I love and of course the art( and excitement) of trading. Happy New Year and I'll be back for the next trade! You can count on that! RAREBIRD

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