SBerglowe,
I've been quite bullish on this stock in the past but I'm
afraid that the last month's price action was extremely damaging to this issue's chart. Only a little over a month
ago, this issue jumped out of the 20's into the 30's and looked like it might keep going. Funny, the up move coincided with the full moon in July to the full moon in August. Unfortunately, the pull back afterwards was deep, and without
mercy as it went down, down, down with no end in sight. As
this stock has continued to make lower and lower lows, I think it may be awhile before the damage can be mended.
I have been wondering where I went wrong in my support of this stock and believe that it is the actions of the company's own execs that have killed this issue. Apparently,
this company issues stock options like toilet paper to its
employees for pennies who immediately turn them into big cash
to the detriment of the value of shares being held by bag holders such as me. I think this is why the big boys have been shorting and selling off this stock like nobody's business. I guess it takes alot more that a great idea and
growth to nurture a stocks price upwards. It also takes a
management team more interested in that goal than grabbing every available short term buck and selling the shareholders
down the river. Unfortunately, my knowledge of the effects of
insider selling on a stocks price has been considerably heightened. Better late than never I guess.
I still think this stock will eventually come around, but
don't expect management to be helping anytime soon. They apparently need every dollar they can get their grubby hands
on or they themselves don't believe in the long term viablity
of appreciation in their shares' value. Actions speak louder
than words.
Sorry to be so negative. Still really pissed I guess.
Sincerely,
Eichler |
