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Strategies & Market Trends : InvestRight - Short Term Trading St

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To: invest04 who wrote (93)	11/1/1998 8:11:00 AM
From: Jeffrey L. Henken	Read Replies (1) of 939

So how are we doing with some of our picks here Stephen? How about CCSI? When I first mentioned it here on the thread we were a few ticks lower. The stock fell back down below $3 and I started a new thread dedicated to the trading of CCSI. That thread started September 25th has done anything but catch on: Subject 23015 On or near September 25th the stock could have been accumulated for $3 a share or even less. Here we are a little over a month later and CCSI is still fodder for the shorts. As of 10/98 there were 2,129,009 shares being shorted: viwes.com That is over a 19% short ratio. Having bought shares at $3 I have been tempted to take a profit on at least one half of those shares. After all, although CCSI has had a little positive press lately the company has yet to ink one significant deal. On Friday the action late in the day made me rethink that position: quote.yahoo.com Interesting buying late in the day, pushing the stock back up above $5 where the shorts love to sell CCSI shares short and some even margin it to do so. Lets take a look at the technical condition of the stock based on an analysis from Market Edge's Second Opinion: Moving Average Convergence/Divergence (MACD) indicates a BULLISH TREND Chart pattern indicates a POSSIBLE TREND REVERSAL Relative Strength is BULLISH Up/Down volume pattern indicates that the stock is under ACCUMULATION The 50 day MOVING AVERAGE is falling which is BEARISH The 200 day MOVING AVERAGE is falling which is BEARISH LOOK FOR SUPPORT AT 3.13 RECOMMENDATION STOCK SHOWS STRONGLY IMPROVING CONDITIONS SCORE = 3 IF YOU ARE SHORT THIS STOCK CONSIDER COVERING OR MONITOR STOCK CLOSELY STOCK IS AN EARLY ENTRY BUY CANDIDATE IF STOCK CLOSES ABOVE 3.90 Kind of murky. But it seems as though the stock is at a cross roads again. The strength late on Friday could be killed come Monday by more short selling. The strength on Monday could be followed by even more buying, although the stock has not yet reached a clear buy signal. Despite having a 70% profit on some of my shares, I think I will ride this one a little longer to see which way we are going to go before even considering selling half of my shares. Any comments? Regards, Jeff

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