To all:
I feel for any of you that were holding LGTO long on Tuesday. The exact same thing happened to me a few years ago with SHVA.
If anyone thinks that you are getting a bargain by going long at this level, you may wish to review the history of SHVA.
I went long in the fall of '96 @ $44. My broker told me it was an "exciting" opportunity. Within about two weeks, it was at $54. I said, "All right, this is exciting". Well, it started a slide similar to LGTO's and on 1/7/97, closed at $19.25, down about $20. I was crushed. I called my broker and called him every name in the book. "Yes", I said, "It was 'exciting' all right, about as exciting as zipping up my P**CK in my zipper", and hung up. I think I ended up getting out for around $15 per share. He is still my broker, and has turned me on to a few winners, but I do a lot more research myself now before buying.
Now for the reason I am boring you with details. Again, if you think LGTO is a bargain, review SHVA. It continued to slide and was bought by INTC early last year for about $6 per share.
Anyway,
Have fun,
Phil
P.S. I have no position in LGTO. |
