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Biotech / Medical : Chromatics Color Sciences (CCSI)--Non-Flaming Discussion
CCSI 28.42+6.6%1:03 PM EDT
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To: Ron Harvey who wrote (32)6/17/1998 7:59:00 PM
From: Ron Harvey  Read Replies (2) of 44
 
The stock seems to have settled down. I'd expect the short position is now much diminished. At 7 CCSI is at about the bottom of its presplit but post-FDA-approval trading range, when anticipation of a distribution deal was several months away. Chromatics may be back to that stage now, but it'll be harder to rekindle the kind of wild enthusiasm that rocketed the stock to as high as 18 (a presplit 27!). As a short-termer, I'm interested in what the stock is going to do now and in the near future. I think a bit of upside is in the works, if only because the selling pressure has eased. Certainly there are longs who are waiting for just a little higher price to get out, but a countervailing force may be shorts who don't want to lose good profits and will do some defensive buying. I bet on CCSI today and will likely buy more if the trading remains stable or the price heads north. Those who attack this company as being fraudulent are obviously indulging in the same kind of fictive assumptions as those who are saying how wonderful a distribution deal (about which they know nothing) will be. My guess is that there'll be a deal, because the product is real, but it'll come with the kind of ambiguities that'll cause naysayers to attack and promoters to defend. Meanwhile, most posts on the various message boards will continue to be a form of theater of the absurd, but, with rare exception, kind of tedious.
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