Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (9999)	6/14/1998 10:37:00 PM
From: rocklobster	Read Replies (1) of 18691

Short KTEL at the open. KTEL just ran up from $9 to $17 dollars on Thurs and Fri in part from a short squeeze and in part just from momentum madness. It couldn't have been all squeeze as the entire float changed hands several times over on thurs and fri. Shares are hard to get though. I'm currently short and looking to short again Monday morn if I can get the shares. The price and volume action look surprisingly similar to VVUS run up from $9 to $14 last month. When VVUS topped out at $14 it coasted all day and then collapsed again over the next week. KTEL had a nearly identical pattern of opening flat Fri. running up in the first half hour and then fading away the rest of the day with a few failed rally attempts that never took it over the morning high. I believe it will go back to $9 rather quickly, 1 to 2 weeks with a few failed rally attempts along the way and then will probably finally continue to fall. Later, Richard

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