REFR has not produced a single product or a single penny in earnings in over 35 years. Call me crazy...but I give long-term track records a lot of consideration. just about every scam stock on Earth has been inflated by this market. Check out stuff like HEB...which should be trading in the pinks.
Granted, it's been a terrible year to short just about anything. But the squeezes I've had to sit out were from 10 to 20 or 5 to 10. I haven't made the error of shorting i-nuts and suffering squeezes of 10 to 200. Most investors (including myself) use shorts as a hedge. I don't give the same weighting in my portfolio to my short position in REFR than I would to my long positions in stocks such as COST and AOL. Long-time followers of my thread realize that there have been certain short positions that have taken 2 or 3 years to pan out...but eventually, the fundamentals always win over the hype - no exceptions. The ONLY time I had to reverse course completely on a short was when I made the fundamental error of shorting a stock based on perceived overvaluation rather than on fraud (example - ATHM). I now stick to mostly shorting stocks where I am reasonably or absolutely certain there is financial and/or scientific fraud. REFR, VLNC and GUMM are fine examples.
I usually press the positions once all the bad news is out and the stock begins its collapse - or if I am certain of a specific event that must occur that will floor the stock...two great examples would be ZONA and CYBG.
You state:
<<And, most important, I am very certain the news of real deals and CASH is coming out sooner than you think.>>
I invite you to do the following; check the discussion threads of EVERY fraud stock I have shorted in the past which has subsequently collapsed (ZITL, CYBG, ALTIF, CCSI, KRY, MCHM, HEPH, TXB, ARNX, PTUS, TRBO, ACLY, DDIM, ENML, ZONA, BTX and ERTH will do for starters). Compare the above statement with just about every post from the cheerleaders on those threads. In fact, compare your statement with the chatter on the REFR board going back 2 years, and with the statements coming out of the company's paid touts for the last 10.
I see absolutely no reason to buy REFR shares, and I am confident they will eventually trade in the low single digits. Can they go higher in the short term? Sure. Do I care? No. |
