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hiker

TW Member
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Posts: 8,859
Reply with quote  #1 
....depends on your preference for calculating fib retraces. Here is my version and a hard-to-find data set:

CYBX - 62.3% retrace so far thru Thursday's low of $26.81 is the result when using the July 15th, 2005 After Hours $50 as the high of this move from the Aug 12, 2004 low of $12.78.... instead of using the regular session high of $47.77 in the fib calcs.

CYBX chart link:

http://stockcharts.com/gallery/gv?cybx

Data set documenting the $50 all-time high reached in AH session on 7/15/05 -

1. Here is a snapshot from July 15th of the Nasdaq site for the AH trading immediately after trading was resumed in the AH following the final FDA approval news ....it was during this timeframe that the all-time AH high of $50 was reached...the last trade at INET at 8pm et was 47.50:

After Hours
Time (ET)         After Hours
Price         After Hours
Share Volume

17.25         $ 48.53         100
17.25         $ 49         200
17.25         $ 49         500
17.25         $ 49         100
17.25         $ 48.03         200
17.25         $ 48.03         400
17.25         $ 48.03         400
17.25         $ 49         300
17.25         $ 49         100
17.25         $ 48.97         400
17.25         $ 48.50         200
17.25         $ 48.98         800
17.25         $ 48.98         100
17.25         $ 48.98         100
17.25         $ 48.41         900
17.25         $ 48.41         100
17.25         $ 49         500
17.25         $ 49         300
17.25         $ 49         100
17.25         $ 49.60         643
17.25         $ 49.60         832
17.25         $ 49.05         525
17.25         $ 49.05         475
17.25         $ 49.60         3168
17.25         $ 49.60         832
17.25         $ 49.05         1000
17.25         $ 49.49         975
17.25         $ 50         11200
17.25         $ 50         100
17.25         $ 50         1700
17.25         $ 50         1000
17.25         $ 49.90         4900
17.25         $ 49.90         100
17.25         $ 49.50         900
17.25         $ 49.50         100
17.25         $ 49.49         200
17.25         $ 49.49         100
17.25         $ 49.49         100
17.25         $ 49.49         900
17.25         $ 49.49         100
17.25         $ 49.49         100
17.25         $ 49.49         100
17.25         $ 49.49         125
17.25         $ 49.49         100
17.25         $ 49.49         250
17.25         $ 49.49         12750
17.25         $ 49.49         100
17.25         $ 49.49         7050
17.25         $ 49.49         100
17.25         $ 49.49         1000
link to cross post at another board where I originally posted the data set above on July 16th -

http://traders-talk.com/mb2/index.php?showtopic=38318&hl=cybx

CYBX stats - note the small float and 15% short interest -

Share Statistics
Average Volume (3 month)3:805,156
Average Volume (10 day)3:710,467
Shares Outstanding:25.17M
Float:N/A
% Held by Insiders4:18.75%
% Held by Institutions4:70.50%
Shares Short (as of 12-Sep-05)3:3.70M
Short Ratio (as of 12-Sep-05)3:7.1
Short % of Float (as of 12-Sep-05)3:15.10%
Shares Short (prior month)3:2.63M






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hiker

TW Member
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Posts: 8,859
Reply with quote  #2 
summary of CYBX setup right now:

1. CYBX - 62.3% retrace so far thru Thursday's low of $26.81 is the result when using the July 15th, 2005 After Hours $50 as the high of this move from the Aug 12, 2004 low of $12.78.... instead of using the regular session high of $47.77 in the fib calcs.

2. CYBX completely filled the very large bullish gap for the first time on Thursday.

3. CYBX chart link:

http://stockcharts.com/gallery/gv?cybx

4. Minimum trade risk to approx. $25.60...

5.  I posted this intraday yesterday at another thread at this board -

14:11 et - CYBX bullish gap now filled for the first time since the gap...26.81 day low as of 14:38 et...and first move below $27 seen since the bullish gap. See daily chart in time period prior to the bullish gap for trade risk..minimum risk to approx $25.60 ....a low float high short interest stock.

An article that could be viewed as negative for CYBX appeared in the WSJ yesterday, it was just pointed out to me.

News item from 9/13 when the current decline accelerated:

Cyberonics: Reimbursement Update; A Positive and a Negative -- SunTrust (CYBX) 39.75 : SunTrust out on CYBX saying they have learned that the BlueCross/BlueShield's (BC/BS) Technology Evaluation Center has given CYBX depression device a negative decision, making reimbursement decisions from regional BC/BS unlikely in the near future, as TEC recommendations are usually followed. Firm does believe reimbursement decisions from BC/BS are currently being made on a case-by-case basis. While the recommendation is clearly a negative for CYBX, they continue to expect a number of other national coverage decisions to be announced in the coming year. Also believes CYBX is having success this quarter in obtaining case-by-case reimbursement, giving them comfort that firm's 2Q06 sales estimate of $30.4M can be achieved. Would use weakness in CYBX shares today as a buying opportunity. Reiterates Buy rating and 12-month price target of $56 per share.



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Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

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hiker

TW Member
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Posts: 8,859
Reply with quote  #3 
08:58  CYBX Cyberonics: Potentially competitive device in development appears ahead of schedule - Lazard (26.03 

Lazard says to sell CYBX shares ahead of recognition that the potentially competitive device in development by Neuronetics appears ahead of schedule toward its U.S. launch. They believe last November's statement by Neuronetics, that it planned to announce the results of its pivotal U.S. clinical trial by the end of 2006, was its first public comments about when its non-surgical depression-treating transcranial magnetic stimulation device clinical trial data would be presented. Now, they say it appears the results of the study will be presented publicly on May 23, at the largest psychiatrist meeting of the year, the A.P.A. annual trade show. Although Neuronetics plans to position its device as complementary rather than competitive with CYBX's VNS apparatus, they believe the two may compete for the same patients.

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Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

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