Kevin, most of my trades these days are on the short side and they work out real well. As for long, I continue to hold MWAV and forget about it for a year or two.
Last week I also went long a beaten down stock at the price of a small french fries, just a touch above $1 (I call it 'TENX', not its real symbol, but has the potential to be 10X). Company has revenue in excess of $300 million a year, market cap is less than $20 million, was $500 million not long ago. The whole sector was out of favor. TENX will be back in the black starting Q3/2000. Current WS estimates are for a profit of $0.35 next year.
The obvious question are will its stock be delisted from Nasdaq and company bite the dust? After attending the shareholder meeting last week, meeting with CEO and CFO, my conclusion is stock will not be delisted and company is on a turnaround. The company is holding an analyst meeting next week and I'll be there. If execution is on track going forward, stock is a 10-bagger in a year.
Regards,
Tom |
