David,
Mark E. of Inv Rel just called. He said there is a 400,000 share short position in ZMAX out of a 600,000 share float. (The float is the available supply of shares to the marketplace. The float excludes shares owned by insiders.)
Apparently, Mark tells me, Fahnestock has done the bulk of the shorting, but I don't know whether they are making money (ie. feeling pressure) or not.
What are the other small Y2K stocks you mentioned?
Re: ZITL being conservative. Well, the whole industry is a potential land mine, but it is also a potential gold mine. It is important, as always, to predetermine how much you are willing to lose if this idea doesn't work (buying ZMAX). Don't risk too much as a percent of your overall portfolio and decide in advance where you get out if it doesn't work out.
I figure if the idea is really going to work, you buy a little bit (1% or 2% of a portfolio now and then average in slowly, say once per month) and ONLY if ZMAX is at higher prices. Who knows... I'm just conservative... which makes me wonder why I'm following this stock.
I'm watching and waiting...and realize that ZMAX is not the leader.
Tim West
2:28 pm, Tues, Feb 4th |
