Hi,Tom - Hope you don't mind, I'm going to respond to both your private and public messages...
When I left for work this morning, IW was headed for 30, and maybe lower - it had an odd effect, because I was absolutely cheerful. My mind was made up: I'd missed the chance to get out and back in, and I didn't really care. Talking to a buddy at work, who holds 10K, and I said "What the hell, we decided to buy and hold. Then, when we dived under $40, we forgot that's what we decided. I had said to him in January that this was going to be a year from hell - because I love to trade, but I elected to hold. Time will tell how wise that decision was.
Well, one of my forecasts turned out to be absolutely wrong. I forecast revenue from wireless sales (advance sales of Symmetry, I guessed 100,000 units @ $10=$1M). Wrong, wrong, wrong! And yet I'm certain that management said they were pre-selling to Glenayre. In any case, the revenue isn't there, which leads me to think IW decided to bite the bullet, and load up Q1 with that revenue.
This has been a very interesting experience, especially for someone who used to flip stocks with great regularity. I just hope (and I suppose most of us feel the same) that I haven't made the classic mistake of falling in love with a stock.
I'm a little disturbed about some events, like the lack of news about the change at WK, and about the (apparent)change in timing of NASDAQ listing. I feel that a statement about either of these matters would have been material - these were substantial changes in management's public plan, and no information was given to the shareholders. However, the future may hold the answers: if it doesn't, then I will be asking these questions at the AGM.
All in all, a tremendous turnaround today, completely unexpected. And I still continue to hold, with an expectation of $70 by fall, $100 by January. I certainly welcome any contrary opinions - it kinda worries me that I'm so sure of this stock. Apologies to all for the long, rambling post... |
