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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (14609)	5/20/1999 10:18:00 AM
From: John J H Kim	Respond to of 43080

CUST- Joseph Charles & Associates, Inc. Initiates CustomTracks Short-term Trading Buy & Maintains Long-term Buy; Price Target Remains Suspended Pending Details of Secure and Anonymous Internet Transaction Protocols BOCA RATON, Fla., May 13 /PRNewswire/ -- The following is being issued by Joseph Charles & Associates, Inc., a member of the National Association of Securities Dealers, CRD number 3949: Joseph Charles & Assoc., Inc. research analyst David Weinstein initiates a short-term trading buy; maintains a strong long-term buy position and continues price target suspension for CustomTracks (Nasdaq: CUST - news) with the expectation the Company will trade significantly higher by the end of the summer. The stock should be driven by near-term events outlined in a conference call on Tuesday by CEO David Cook. Technical action in the stock indicates strong accumulation, and the growing short interest position should provide a springboard to higher levels. CustomTracks' insiders continue to purchase the stock in the open market in large dollar quantities without regard to price, while peer group insiders of public secure Internet payment system companies have been consistently selling their shares in large dollar amounts. According to Vickers Weekly Insider Report, from November 1998 through May 12, 1999, CustomTracks' peer group competitors filed 189 sells ($152.7 million) and one buy ($44,876). This is in stark contrast with the fact that CustomTracks has had no insider selling and 18 insider purchases in the same time period. In April, Antonio R. Sanchez, one of CustomTracks' directors purchased 95,000 shares at an average share price of $22.68, for a total of $2,118,329. (A complete list of CustomTracks' insider buying will be detailed in a report to be released next week). The high degree of confidence CustomTracks has in its new technology is highlighted by a remark made by Douglas H. Kramp, the company's newly appointed and first Executive Vice President for Strategic Business Development: ''I am looking forward to joining CustomTracks' management team. Their Digital Signature technology, in my opinion, is the most exciting development on the Internet since the browser.''