Well, I hate to beat a dead horse or sound hypish, but it's a darn shame RELL isn't getting more volume. The stock is up 5/8 on 5700 shares volume. McDonald Securities is turning up the heat and buying what he can get to cover his short ahead of earnings as I suspected. INCA bidder is McDonald plus McDonald has raised his lot size and bids thru his call letters. It would be nice if he had some competition on the bid, but I am satisfied with my allotment for this investment and I cannot fight a naked short seller with millions of dollars to play with.
I would be truely embarrassed if RELL missed their earnings numbers tonight. But even if they did miss by a few pennies, which I don't think they will, the stock is still a good value here in my opinion. I feel confident that RELL will make their numbers. They have been firing on all cylinders since I began trading the stock 8 months ago. This short interest is naked from a market maker (McDonald)underestimating money flow in the stock and overselling it. He has used his resources to manipulate the stock lower, almost right after another firm upped their targets and recommendations.
I'll cover myself here by stating that this is all my opinion and not a recommendation to buy or sell the issue. I'm keeping my money in and betting on Ed Richardson. He hasn't dissapointed me yet. The manipulation in the stock has been a disapointment though.
P.S. I'm not exacty sure if I follow your meaning regarding westpacific. But this market is weak overall. That money on the sidelines...well, it's waiting for some killer deals. ANd I still think those deals are coming. When they do, you want to have cash laying around to take advantage. That goes for everything. Don't buy a lot of stuff right now. Boats, cars, houses, etc....all get real cheap when people have to get out from under those payments. Bankruptcies are soaring right now. Cash is king in times like that. Protect yours and be ready to step up when the time is right. |
