Greetings Jeffrey,
I was out of town for a few days this week. Wow! You got a hot one with CLCX. You pegged that sucker at a prime price of $11 3/4. What a killer. Unreal! CLCX chart looks fantastic. Plenty of upside potential and still a bargain at the current $15.00+
P/E VALUE:
NASDAQ: (CLCX : $15 7/8)$209 million Market Cap at May 8, 1998
Trades at a 37% Discount PE Multiple of 22.4 X, vs. the 35.3 X average multiple at which the Education & Training SubIndustry is priced.
NEXT EARNINGS REPORT:
Next earnings release due June 9, 1998 so CLCX should move upwards considering the profit taking after the split is out of the way! For a technical standpoint, CLCX is just about reaching and about to cross it's 50-day moving average. So, the momentum traders will jump on board for a few points. The upper Bollinger Band has been reached although the RSI is only now starting to rise. So, once again Jeff, you nailed CLCX in the launch pad with perfect timing!
TECHNICAL CHART:
bigcharts.com
SHORT INTEREST:
What a pretty sight! Short squeeze? From March 15, to April 15, 1998 CLCX short interest increased a whopping 40% to 6,047,072 shares with 1,366,080 average daily volume. Compare that to Friday's 3,330,000 shares traded and you can see some short covering taking place. I would venture to say the CLCX may reach the next overhead resistance price of $18.00 by next week considering all the factors.
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