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The last time I saw this happen was with Cotelligent (CGZ). They
offered a boatload of shares and it was interesting to me to see the
huge runup that precipitated the offering (March '98). It seemed as
though they wanted to get a bunch for the shares, and when they were all
sold, the stock droped a bunch (and still is). Now that's exactly
opposite what I'd expect to happen. I wonder if anything like that
might happen here.
Downside risk is pretty nominal in this situation isn't it? The TA
is pretty decent - maybe going long here is a low risk entry for a
possible "stock manipulation" play.
They don't really do that, do they? :-}
----Original Message Follows----
From: "Jim Greening" <JimGinVA@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Subject: Re: MLT Pick
Date: Tue, 30 Jun 1998 21:19:26 -0400
Reply-To: metastock@xxxxxxxxxxxxx
David,
TA and stop holds, but the Canadian offer to sell MLT at 21.50
Canadian will probably stabilize it for a while. If I wasn't already
in, I'd wait a few weeks.
Jim
-----Original Message-----
From: David Walton <davidwalton@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Tuesday, June 30, 1998 2:11 PM
Subject: MLT Pick
>Hello Jim,
>
> I looked closely at your MLT call over the weekend. After doing
my
>DD I decided that is did indeed look good both FA and TA, but that I
was
>uncomfortable with the doji candle on Friday and thought that I'd
wait
>and see which way the indecision was going to head.
>
> Based on today's activity (we're at 13 5/8 as of this writing), I
am
>wondering what your TA is on your position as it approaches your
mental
>stop of 12 3/4. Has this move "undone" any of your bullish TA, or
does
>your TA hold and maybe we've got a good opportunity to go long. TIA.
>
>David
>Akron, Ohio USA
>
>
>----Original Message Follows----
>From: "Jim Greening" <JimGinVA@xxxxxxxxxxxxx>
>To: "Jim Greening" <JimGinVA@xxxxxxx>
>Subject: Weekly Pick
>Date: Sat, 27 Jun 1998 20:34:26 -0400
>
>All,
> Another good week. Looking at the indices, I'm even more
>convinced that the correction is over - for a while at least <G>.
>With the three new positions I added this week, I now have long
>positions in DELL, EGGS, ERICY, HBOC, SPF, and U stocks and LEAP
calls
>on CPQ. That's put quite a dent in my cash, but I still have room
for
>one more position. With the NASDAQ coming back alive, I thought it
>would be a good time to look at the semiconductor suppliers. I
>decided on Mitel Corporation (MLT) that manufactures and distributes
>business electronic telecommunications systems and semiconductors.
> MLT at 14.687 is in a short, intermediate, and long term up
>trend. It hit an all time high of 16 1/2 on 5/22/98 before beginning
>a short term pull back to a low of 12 3/4 on 6/16/98. From there it
>moved up and broke out of its short term down trend channel Thursday
>on good volume and then gave a MS Tema PDI-MDI buy signal Friday.
>After the breakout, I constructed a very Short Term Up Trend Channel
>(STUTC) with the top at 16 1/4 and the bottom at 13 1/2. The
>fundamentals are good with a price/sales of 2.21, ROE of 22.8%,
>debt/equity of 0.16, 12% insider ownership, annual revenue growth of
>over 20%, and annual earnings growth over 100%. It looks like we
will
>move up from here to test the 16 1/2 high. I'm anticipating that it
>will break through that high. I'll construct a steeper intermediate
>term up trend channel when it does to use for a target. For now,
I'll
>take a long position at Monday's open and set my stop just under the
>STUTC at 12 3/4.
> MLT.GIF attached.
>
>Jim
>
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