C-Cube Message Board - Msg: 885896

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Technology Stocks : C-Cube

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To: John Xu who wrote (10557)	2/26/1997 9:23:00 AM
From: Warren Gates	of 50808

John, I've studied charts of stocks that have gone down ... and they always will have periods of retracement (2-3 day bounce) before falling down again ... Check the chart of ARSW which fell from the 80's to the teens ... and see how much time before the chart starts showing signs of life. What I'm saying is, in order for CUBE to recover, it should have a longer basing period ...from this point, it is more likely to fall back to the 20's ... stay there for a while, climb back up ... fall again ...each time establishing a higher low ... then you'll have some confidence that the selling pressure has diminished. I shorted at 33 but I thought it would have another up day so I could get my 2nd lot in, perhaps in the 35-36 range .... now that it closed below the open price ... I'll try to get some more puts today if it rallies a bit to 30-31 level which I believe will be its day high.

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