Boo, I look at the last year's collapse in December and feel cautious about history repeating itself. Add the Tmex factor, and it has the capability to shoot to $30 or collapse to $9. I truly think the revenues are impressive. I just don't want to get caught in a potential selloff. When I bought this a few weeks back, no one wanted this. Now a big runup has me thinking to protect some of the initial investment. My target of $14 is approaching way too fast in cyclical jumps. Won't sell out 100%, only 40-60%. As I said, I bought it for the short term, now probably leave half in for the long term. CEO has done the best job of e-retail advertising I've seen in the last month.
Top five institutional holders are recent buyers also. Per Vickers:
1 GENERAL ELECTRIC INVESTMENT CORPORATION (ZWEC) 09/30/99 431,022
2 GLOBAL ASSET MANAGEMENT (USA), INC. 06/30/99 50,000
3 VANGUARD GROUP, INC. (THE) 09/30/99 50,000
4 STRAUS CAPITAL MANAGEMENT LLC 09/30/99 26,000
5 CITY NATIONAL BANK, CITY NATIONAL INVESTMENTS 09/30/99 24,105
These funds bought when it was cheap too and were damned quiet about it. They probably up 80-120% on thier investment. Now that's a Christmas present.
Today we traded the float of 4.8M. Total outstanding is 8.6M shares. If there is buying pressure of this magnitude Monday, then we will see some shorts covering and MM's forced to up the price. ADSP showed us the way. This company has a float 50% less than ADSP and 1M shareout less than ADSP. Shorts are not here vs. ADSP board. Strange.
Monday is the key. MM's may have to let it run to $20 on another 4M day. Low volume and they will step it back to $11. At least you got into the show relatively cheap. Enjoy.
Jack |
