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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (9073)	1/27/1998 10:48:00 AM
From: Terry Jackson	Respond to of 13925

Robertson Stephens downgrades CREAF from buy to LT atrractive. biz.yahoo.com Huh! and I had just bought more at 16 3/4!

To: Nazbuster who wrote (9073)	1/27/1998 11:01:00 AM
From: Jon Tara	Read Replies (1) \| Respond to of 13925

[Off-topic] Daniel, I just covered my second ABTX short. I shorted on Friday at 17 3/4, covered Monday mid-morning at 15 3/4. Re-initiated the short at 16 near the close, then covered just now at 14 1/4. I think that it could go to 11 and change, at which place I may be a buyer. But I'll let somebody with more guts short it down to there. Actually, it could go lower yet - it has (barely) broken the 50-day moving average today, and so could head for the 200. The 200ma is around 9. But I covered because there is likely support at the 50ma. I'll let the longs and shorts battle it out here and see which way it goes. I might short again at a LOWER price, once it's clear which way it's going from the 50ma. Anyway, indicators as they were on Friday: 1. Stochastic sell signal (not sure why you see stochastic in good territory - had just dropped through the 80 signal line, at least my 5 day with 3 day slowing version. Guess you'd call that "fast". Lots of people like using "slow stochastics", though. 2. MACD crossover in early January. There's a HUGE hump on the MACD. 3. In early January, you'll see a classic "flag" on the chart. ABTX started to break out of the flag, and then failed. This was the determining signal for my short. Look at that nice rounding hump out of the flag. Very similar to a pullback to the apex on a triangle, which can fail more often than not doesn't fail. (e.g. on a triangle, it will typically pull back to the apex and then bounce back up to new highs). I've never heard of a "pullback to the apex" on a flag, though, and so at the apex I saw it as a failure, and shorted on Friday. The crowd seems to have waited till Monday, when things were REALLY clear 4. Stock rose parabolically, and was well above the 50ma. See: ZITL, IOM, PRST, etc. :) I do think that this stock is actually early in it's parabolic rise, and we'll see this drama replayed. I beleive that ABTX could be "the next IOM" (been looking for one of those!) When (if) it dramatically recovers this drop, it will be on the tip of a lot of lips. 5. Doubled in about a month. Enough is enough. I'd say the flag failure was the single most important signal to me, and was supported by the other indicators.