Computerized Thermal Imaging CIO (formerly COII) Message Board

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Microcap & Penny Stocks : Computerized Thermal Imaging CIO (formerly COII)

CIO 6.940

+2.1%

Dec 5 9:30 AM EST

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To: Gwolf who wrote (148)	4/22/1998 7:45:00 PM
From: Barbara Haggerman	Read Replies (1) of 6039

Gwolf,you mentioned in your post that the stock has a descending trendline at .65c.We have studied the stock price movement and it appears that after rallies up to this trendline (in mid-month),with no news,that this is usually the time that the short sellers start shorting the stock again, so they can drive it down for month end as you mentioned. Friends in the brokerage business tell us that a company by the name of Meyerson is the predominate company that shorts this stock even though they are not the only ones. The reason that I bring this up is your post concerning a bottom forming in the stock.It seems that the rallies keep getting smaller but the bottom seems firm at .50c. we have seen this pattern before and usually something has to break loose sooner or later, either to the downside or to the upside. Usually if they are going to break to the downside they will have done so by no later than the fourth attempt down. We just had our fourth attempt down with no break to the downside. I guess what I am trying to say is that the technicans among us agree with your analysis that the stock is potentially forming a bottom at .50c and that a final break above .65c confirms that bottom. I wouldn't be surprised to see Meyerson or one of the other short sellers start shorting this stock as early as tommorow, trying to drive it down for month end like you described in your post.I do not think they will be succesful in driving it down very far this time, and as I'm sure you know a higher low on the stock at this time would be technically very important for a bottom. The slightest bit of good news could finally break this stock to the upside. I hate to sound like a cheer leader for the stock but I think breaking the backs of the short sellers is something we would like to see. We are going to be buyers on any price decline in the stock and would definetly add to our positions if the stock broke above the .65c barrier. Gwolf thank you for bringing the technical picture to our attention. Barbara

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