Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 177.38

+1.4%

1:15 PM EST

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To: Trader J who wrote (13187)	4/23/1999 7:13:00 PM
From: steve brooks	Read Replies (1) of 56535

TJ & All: CYMI: The story moving the stock yesterday seems to be a pre-earnings buying binge and positive reports for the semi-conductor industry as a whole. Overall the stock is down roughly 33% from its late Jan high of nearly $30. Apparently the 4/98 loss of .$12 did not sit well after the run up from $15 in Jan-99. An industry organization reported that chip making tool orders were up 14% from Feb-99 to Mar-99 climbing to 1.5 billion. CYMI reports 1st QTR numbers on Monday 4/26. Consensus is for a loss of $.09 with the whisper estimate at -.08. Based on recent volume and price movement in the past three days, there are a lot of people betting the company will beat these estimates. Insider activity in Feb & Mar was primarily all options related selling. Some these guys exercised options at $.25 and sold around $25. If only I were so lucky!! The most interesting chart I looked at is the Ask Research money flow chart. It shows money flow turned positive early in April. The last time money flow turned positive by this much was late Dec before the stock ran up almost 100%. Short interest was about 1.5 million as of 3/10 with a ratio of 4.1 days to cover. IMO some the shorts have already covered in the last two days so this may not have much impact. From watching this stock, I have noticed that it can be an exceptional gapper on the open. Today it opened strong and quickly climbed a point before selling off. This after a 3 point rise the day before. Todays selling was profit taking in advance of the earnings. Some on the CYMI thread think it is a buy the rumor sell the news situation. As for me I have no clue really but we shall see. In any event this issue will have some good trading opps next week. Please check it out for yourself and Happy Trading!! Steve

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