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Technology Stocks : Analytical Surveys (ANLT) computer maps
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To: TLWatson59 who wrote (951)4/19/1999 8:35:00 PM
From: TLWatson59  Read Replies (1) of 1157
 
A most unfortunate effect of lost market momentum was the sharp retreat from the all important breakout point of $26. It is specifically so because the requirements of the disciplined approach I take towards TA called for a close above $26 accompanied by strong upside volume in order to signal a true take off point did not allow me to suggest purchases this morning. The market action of the stock today convinces me that the see saw trading pattern we have been experiencing for a while has been generated by a combination of the return of the momentum day trader and the resolute short sellers.

A better test for the stock is set for tomorrow with the release of the quarterly earnings figures. Most of the time we have been satisfied to see marked quarter to quarter earnings gains and increased backlogs. This time around the crucial element is whether or not we will begin to see positive cash flow from net income not only this quarter but a strong indication by management that we can expect it for the forseeable future. IMO that is the needed factor to put the breaks to the shorts who have to be gambling on some type of earnings scandal to put the stock down into either the low double digits or even single figures. A close at 24 1/2 puts the dollar value of the shorts at almost $32 million. These are not children playing with monopoly money but a group that is making a big bet that could prove very costly if they are wrong. It's up to ANLT to prove them wrong and make them pay the price.
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