[CANSLIM] This rally/AVID?

From: "Jonathan Lobatto" <jlobatto@nyc.rr.com>
Subject: [CANSLIM] This rally/AVID?
Date: Thu, 17 Apr 2003 16:36:16 -0400

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Based on past experience with this list, it's a bit odd to me that there =
isn't more activity here as there have been decent stocks breaking out =
for a while now. Prior rallies have brought a good deal of comment. If =
one can conclude from the relative silence that everyone is so disgusted =
with a couple of years of false breakouts and as such, so skeptical of =
this current rally, is it possible this one may be for real??

BTW, one stock I bought recently (on the 4/2 breakout) is AVID. AVID =
announced earnings this morning and the stock instantly tanked around =
10%. I was just about to sell it as it was right around an 8% loss for =
me when the stock began to recover. It basically climbed the rest of the =
day and actually ended the day closing up a fraction! Odd =
behavior....I'm tempted to say this shows big underlying demand for the =
stock. One clue may be that it has a large short interest and when the =
shorts came to the conclusion that the earnings were not that =
horrendous, they may have been covering today. Could be a short squeeze =
in the making (although now having said that, watch it sink like a =
stone!)

Jon
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<DIV><FONT face=3DVerdana color=3D#0000ff>Based on past experience with =
this list,=20
it's a bit odd to me that there isn't more activity here as there have =
been=20
decent stocks breaking out for a while now. Prior rallies have brought a =
good=20
deal of comment. If one can conclude from the relative silence that =
everyone is=20
so disgusted with a couple of years of false breakouts and as such, so =
skeptical=20
of this current rally, is it possible this one may be for =
real??</FONT></DIV>
<DIV><FONT face=3DVerdana color=3D#0000ff></FONT>&nbsp;</DIV>
<DIV><FONT face=3DVerdana color=3D#0000ff>BTW, one stock I bought =
recently (on the=20
4/2 breakout) is AVID. AVID announced earnings this morning and the =
stock=20
instantly tanked around 10%. I was just about to sell it as it was right =
around=20
an 8% loss for me when the stock began to recover. It basically climbed =
the rest=20
of the day and actually ended the day&nbsp;closing up a fraction! Odd=20
behavior....I'm tempted to say this shows big underlying demand for the =
stock.=20
One clue may be that it has a large short interest and when the shorts =
came to=20
the conclusion that the earnings were not that horrendous, they may have =
been=20
covering today. Could be a short squeeze in the making (although now=20
having&nbsp;said that, watch it sink like a stone!)</FONT></DIV>
<DIV><FONT face=3DVerdana color=3D#0000ff></FONT>&nbsp;</DIV>
<DIV><FONT face=3DVerdana color=3D#0000ff>Jon</FONT></DIV></BODY></HTML>

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