OTC Open Text

As per our recommendation ( June 14)  to buy back the short at around $39, I assume one does not have a position either short or long, so what could be next? Looking at the big picture it is highly unlikely that the stock hit rock bottom. At the very least $25 would be a reasonable target. See charts below;

otc aug 2010 otc aug 2010 2

Presently the stock is up on a doubling of earnings and perhaps also on sympathy with the take over of McAfee etc. The spot to look at shorting it again would be at about $46/$47 where the correction will retrace about 61%. This is a risky trade , but the potential is to a drop towards $15.