AI
Wednesday, August 03, 2005 4:49:24 PM
Trade Journal: Cogent Inc. (COGT) UPDATE
Added equal number of shares at $30.66 to average the cost down to $31.75.
Shorts have increased about 30% from June, and is now at 3.2 days to cover. Very interesting short selling action all day today, which resulted in closing below the lower end of the February gap ($31.40). Otherwise, no other major technical damages noted.
Long term hold with an eye on both "low monitors" of the RSI and the DPO plus the 20-day moving average. Target price near $37 or a 16% gain.
Added equal number of shares at $30.66 to average the cost down to $31.75.
Shorts have increased about 30% from June, and is now at 3.2 days to cover. Very interesting short selling action all day today, which resulted in closing below the lower end of the February gap ($31.40). Otherwise, no other major technical damages noted.
Long term hold with an eye on both "low monitors" of the RSI and the DPO plus the 20-day moving average. Target price near $37 or a 16% gain.
David
#board-3693
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