Date: Wed Aug 3, 2005 10:34 am
CNVR: Convera corp. Makes software used for data retrieval inside companyintranets. New initiative for indexing web pages. Not a big deal in myopinion, meaning other search companies do it as well. Less than a monthback Legg Mason invested at 4.5 bucks today price is 11.8. Recent hikeunjustified in my opinion and looks like a complete day traders play for the3 previous days.
At 11.8 company market cap is 460 Mil and annual revenues are 20 mil andcompany loses 2 to 3 mil each quarter. This in itself is a good enoughreason to short. This looks like a mamma.com kind of play and today therally has exhausted. You can short it but with tight stops at 12.8 atleastand if you are trading huge volume, then at 12.29 (intraday support levels).
Disclosure: Shorted at 12.29 and a little at 11.77.
Two more plays to short BOOM (52 wk high) and earnings tomorrow. 60 to 70%insider shares sold and THQI (52 week high), earnings after bell and 51%insider shares sold and most of them very recently. Do your own research onthese two.
