Nice analysis. However, when I tried doing my own quick research, I found absolutely no useful information on the web on any of these companies: No SEC filings, no home pages, no news or press releases other than the Dec 18 article about Consolidated's intent to go public with Amdesco.
I also tried calling Stan Abramowitz over the weekend and I wasn't impressed. Rather than,"Thank you for calling Consolidated Merchantile", their recorded message answered,"You have dialed 920-0500. To reach so-and-so press such-and-such." When I called Monday morning, the receptionist answered in the same manner. It's not that I couldn't get through to anyone (I was able to request for the company's information from the correct person) -- what irked me was the phone seemed to be handled by an answering service, rather than a formal, legitimate business.
Now, I have to admit that I did place a limit order on CSLMF on Friday. I kept it riduculously low at 1 5/8, though, and later cancelled it over the weekend after calling them. Looking at the price and volume jump of Consolidated after you published this report also got me nervous about jumping in at those post-report prices.
What's funny is that I was taking a shit today and grabbed an old investing magazine to read. I came across and read a story about the "Greater Fool Theory". The theory goes that some people are willing to pay a high price for a rising stock simply because they know there will be a greater fool willing to pay an even higher price.
Every investor knows this theory.
I got a kick about thinking that a lot of the stock's recent rise is a great example of this. I'm sure a lot of people who have bought the stock in the past week probably must have done so without doing their own independent research. Until I get more solid info on my own, I'm on the sidelines....
PS: You have a nice, informative website, by the way. |
