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Technology Stocks : C-Cube
CUBE 35.36-1.0%3:59 PM EST
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To: BillyG who wrote (33780)6/12/1998 9:20:00 AM
From: Rarebird  Read Replies (3) of 50808
 
The MASSACRE Of The Ice CUBE Has Just Begun: Watch Out Below:

Investors have finally realized that being long the stock of a company that receives half its revenues from a country ( China ) that is under tremendous pressure to Devalue its Currency is akin to walking into a building where there is a FIRE! As the Yen continues to dramatically weaken ( Japan is now officially in a recession ), CHINA will have no choice ( and the Chinese know it ) but to Devalue their Currency.
I'm not surprised that Cubies are still in the same mode of DENIAL. Yes, Billy, it's the same sad story for the Ice Cube. Over 3 million shares traded yesterday to push Cube down 18.5%. As usual, the Shorts came out like bandits here. There was NO NEWS either as to why there was such heavy Selling- a FACT that should be quite disturbing if your long the Stock. WHY such HEAVY SELLING? Yesterdays MASSACRE is an omen for further selling in the weeks to come. Certainly you can't be naive enough to think that this was merely a one day occurrence! A Bounce today or filling a gap on the upside is in order here. But WATCH OUT BELOW! CUBE gave a major sell signal when it broke below $20 a few weeks ago. Selling any kind of rally or bounce is in order here. The Stock IS GOING MUCH LOWER IN THE COMING WEEKS!
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