Rick:
Any comments Ward!
I hestitate to post here, but since you asked...
I've been short on PYT for awhile now...waiting for
the death-trend to set in. PYT historically takes about
a month before she really starts to drift south.
These last few days have been extremely informative
technically...PYT's relative strength sucks, she broke
her logarithmic uptrendline quite some time ago and hasn't
even come close to retesting it for a second time, short
positions continue to mount, and the "wait for the big
news!" attitude is a very reliable bearish indicator that
the bulls have overstayed their welcome. I'm not predicting
any "crash" in PYT's price...that is not the way the street
likes to run this one. What is most likely to happen here
is a slow, relatively undetectable meltdown in shareprice.
See PYT:VSE, 1996 for a preview.
Now, before you and others flame me to bits, posting fundamental
"this" and fundamental "that", news is coming, sales are going
to be great, shorts better cover, etc., let me just say that
there is certainly a chance that I'm wrong. I have an on-buy
in place. Hey...if PYT goes for another loop-de-loop up north
I'll be the first to congratulate you bulls who have hung on here.
My loss will be your gain...
But I wouldn't be short if I didn't think I would
make some coin here.
WN
P.S. I have nothing against the management of PYT or its
product. In fact, I work in a hospital and appreciate the
technology PYT is working on. The fact that I'm shorting
PYT should not be taken as a negative vote against these
aspects of the company of PYT (just the behaviour of its stock). |
