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Trading Notes
Trading Notes
David Goldring
Wednesday, November 17, 2004

SHORTS

Looking at some stocks that are overvalued and running towards their down moving 200-day averages. Here are some names.

CTI Molecular (CTMI - 11.31) 200 day at 12.27
Laser Card (LCRD - 10.64) 200-day at 11.73
Telik Inc (TELK - 21.25) 200 day at 22.53
Nektar Therap (NKTR - 16.19) 200-day at 17.43
Freds Inc (FRED - 19.65) 200-day at 20.08
Actel (ACTL - 17.79) 200-day at 18.15

Often a down moving 200-day average will act as significant resistance to any upward movement. All these stocks are, in our opinion, trading above their fair value, and moving into significant technical resistance. These stocks act as a great hedge to our long positions.