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Strategies & Market Trends : InvestRight - Short Term Trading St
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To: Brenda L. Greer who wrote (43)9/8/1998 1:40:00 AM
From: Peter V  Read Replies (1) of 939
 
Hello Brenda. Since you discovered my post, I'll give you my opinion. Be aware that CCSI has been telling investors that it is in "late stage negotiations" for a manufacturing deal and a distribution deal (they are separate) since January, and has had FDA approval for over a year. A rival company, SPRX, has a similar product on the market and is distributing it in other countries, and has applied for FDA approval. Although CCSI has made lots of noises about research deals in China and the 10q (or was it the 10K?) mentions sales staff in other countries, they have not manufactured or sold a single device! Nothing but prototypes. Not even in the countries that don't require FDA approval. It should make you wonder about management's ability to follow through.

Maybe CCSI is at a bottom, but only if they follow through, and they have a poor track record so far. CCSI is at the bottom for most people wanting to short it because it is below $5, and most brokers won't allow shorting stock below $5. For those still holding short, they obviously believe it will drop further. I'd check the short interest figures that should come out in about a week to see if interest has waned at all. Good luck.

btw, nice car.
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