My CORL Story...
I bought CORL a few weeks ago for $18/share...rode it up to $40-44 and even though I had friends telling me to sell (Hi Jeff..)...well, I didn't. My fault..Now, finally after CEO problems, CFO leaving, Head of Sales/Marketing leaving (remember that happened 1-2 weeks ago), and analysts downgrades...I finally sold at $24. Made just over $35K pre-tax...could have made alot more..but not too bad for 3 weeks work.
I would not be surprised to hear the stock trading up in the 30's or 40+ range again in the next 1-2 months...but IMO we are heading down to teens first. Unless there is some really big news coming out...I believe the stock will drift slowly downward for the next few weeks as volume begins to decrease (maybe 14-19 range)...then upward heading into the earnings report in mid-Jan. I would have stayed long on CORL if it were not for the CFO departure - with very little info as to just why...and why at THIS TIME he left. It was the straw that broke the camels back for me.
With most other companies, if these type of problems surfaced...IMO, most people would have been long gone by now. But people have alot of hope in Linux taking market share from MSFT...and making a killing at it through their stock....so they tend to look the other way, and say "Hey, it's no big deal.." Corel in not dead, they are in a hot segment right now...and we'll all have plenty of time to make good money on their stock...but now they will have to earn it (ie. sign on with one of the box manufactures, earnings, great sales, etc..)
Just my thoughts...
-mike- |
