Gold Fields: heißer Short-Kandidat?

verfasst von Nachfrager, 17.06.2004, 10:25

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Schaeffer's Market Observation Features Gold Fields: GFI


CINCINNATI--(BUSINESS WIRE)--June 16, 2004--Today's Market Observation from Schaeffer's Investment Research features Gold Fields (NYSE:GFI).

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Today I used a similar filtering method to seek out bearish stocks that are intriguing from a contrarian perspective. Downtrending equities that remain overloved by Main Street and/or Wall Street may have additional downside in their futures. The reasoning behind this philosophy is that any investor or institution who may wish to purchase the equity may very well have already invested. Thus, the only thing remaining is selling pressure, which could ensue if and when the stock continues to disappoint.

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It's a good thing I began this analysis with nearly 40 stocks, because only two equities match every variable criteria; a low SOIR reading, a lack of short interest, and optimism from the analyst community. These stocks are Gold Fields (NYSE: GFI) and...

South African gold producer GFI boasts an SOIR of 0.22, with total near-term call open interest outweighing total put open interest by a margin of nearly five-to-one. This reading is just four percent shy of an annual low, suggesting that optimism among the options crowd could be reaching a breaking point. Short-covering potential is not in the cards for GFI, as it would take short sellers roughly one trading session to repurchase all of these bearish positions. Finally, there are three"buy" ratings on GFI compared to zero"holds" and two"sell" designations.

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GFI has trended lower since the last quarter of 2003, losing more than one-third of its value during this time. Since the beginning of the calendar year, the stock has suffered below consistent resistance from its descending 10-week and 20-week moving averages. GFI is now perched just above the 9.75 region, which boosted the stock higher in April 2003. The level could now represent double-bottomed support.

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GFI could be nice additions to your short portfolio but be aware of the 9.75 levels, respectively. If the stocks stall at these levels of potential support, they could enjoy a quick snap higher.


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http://www.nasdaq.com/asp/quotes_ne...p;cdtime=06%2F16%2F2004+3%3A09PM

Gruß

Nachfrager

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• Gold Fields: heißer Short-Kandidat? - Nachfrager, 17.06.2004, 10:25