Hank,
I know you are speaking to Peter, but your advice is well heeded, as I have learned my lesson with stocks like ZONA. I'm not one to get overly extended, so I generally will short more if a stock runs against me. I typically will short more at every $10 interval, but the fast rise in ZONA spooked me. I shorted at $18 and added at $28, only to see it trade in the mid 30's a few days later. I decided that the momentum and manipulation was too strong to take a further position at $38. Wuoulda, Coulda, Shoulda. I would be at break even if I did. Oh Well.
I feel the Vasomax erection coming down. True bulls may dose again (and buy more), but the last two days has broken ZONA and I see it trading lower from here on with longs looking to get out while it is still profitable, and shorts picking away at it. I also see another serious of lawsuits being filed, on top of the countless many already. ZONA is spending about $5mm a quarter on R&D (see link). I wonder how much they are spending on legal fees?? This should be interesting. There are currently over a dozen seperate class suits each wanting several million (OK I guessing, but what else do they want? Free samples). Anyway, even if ZONA settles to advoid the court costs and vast time commitment, they will still have to shell out big dollars to each and every one of those guys. That's got to cost more than free samples.
biz.yahoo.com
Chester |
