Simclar Inc - SIMC Message Board

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Technology Stocks : Simclar Inc - SIMC

SIMC 0.000200

0.0%

Nov 7 9:30 AM EST

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From: Tom Caruthers	2/21/2007 2:56:34 AM
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After trending above $6.50, we have dropped back down to $6.15 on low volume. Hopefully we stay above this level. Any breakdown on high volume would be indicative of a fall to support of $5.50. I am not convinced that today's drop in price is real. Volume was meager. Suggests to me a take out of stops for a run higher. The chart, before today, was very suggestive of a sharp jump higher. Fundamentally, the Company is embroiled in some controversy over the abrupt closing of a Scotland plant, in favor of cheaper manufacturing in Asia. They laid off 400+ people at that facility. Probably will have to take a one time charge to settle that. Although it is sad that they had to close this plant and lay off hard working people, I think it shows that the company is very bottom line focused and intent on improving profitability, which ultimately bodes well for the stock. Time will tell. Good luck! Tom

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