Good evening Spiral,
I just got home from skiing to find your long reply. Thanks for the "rant". However, my initial read would indicate you made some excellent points and that I will learn some pertinent information.
I wanted to remind you immediately that I prefaced my comment about lock up with this comment: It would also be interesting to know how many insider shares are on lockup. I expected some knowledgeable person on this thread would know the precise status regarding lockup and apparently you do. Thank you for answering this question.
Regarding analyst coverage, I have been clicking on Echelon at Yahoo for a couple of months now and I always see two brokers covering Echelon: one with a moderate buy and one with a hold.
biz.yahoo.com
I would like to apologize for my embarrassing misread of Advalorem's institution link. The site does not actually give the prices that the institutions bought and sold stock at, only the reduction or increase in shares and the current value of holdings. The current value of holdings were given in millions without the zeroes, which I incorrectly read as the prices the institutions bought and sold shares at. And Oppenheimer reduced their holdings from 600,000 to 210,000 shares, not to zero. So the conlusion is I do not know what prices the institutions have paid for the stock or at what prices institutions have sold the stock. Furthermore, as Big E noted, the data only goes through 12/31/99 and is now passe. My haste to go skiing combined with what must have been a "senior moment" made for a mixed up read of Advalorem's post. I am embarrassed and hope I will be pardoned by the thread. I am glad the ELONGs are double checking the data presented and I would expect nothing less. I profusely apologize for this mistake.
In your post you drew one interesting conclusion related to insider trading:
As a long term shareholder who watches Elon closely, Oshman's latest retail purchase in August last year of 52,000 shares costing him north of $320,000 was a clear signal. to buy.
I am glad you got in then. Oshman purchased those shares at $6.19 to $6.38 per share. You must be very wealthy from your purchase. But what about my insider buy signal? Since then all the insider purchases have been at $1.29 to $2.00 per share range with the one exception of a small purchase of 12,576 shares by Edwin Sterbenc at $7 per share on Jan 25, 2000--- which he immediately flipped to the public at $35.60 per share. (And John, please correct me again if I have missed anything in the data cited today.) Here is the Yahoo link I am using:
biz.yahoo.com
My point in this post and the last post, is that there is nothing in the institution and insider trading links presented by Advalorem that makes me excited about paying $66 per share for the stock. That conclusion has not changed with my correct reading of the institution link.
Spiral, your post appears to be very informative. I thank you for posting it. I have printed it out and look forward to reading it again.
Oh, and by the way, best of "luck" with your investing too. (grin)
Regards, Huey
P.S. Great spring skiing today.
P.S.S. Interested in hearing your comments on the "Home Plug" competition mentioned in the post above.
|
