RECENT BASHER now goes LONG and explains why.....
investorshub.com
Posted by: BillBranum
In reply to: Brettin who wrote msg# 8250 Date: 5/3/2001 1:35:31 AM (ET)
Post #8275 of 8286
Hi Brettin, weird timing...
Going into today (Wednesday), I actually had no position in SEVU. Today I went long for 24,400 shares, and will probably add about the same amount tomorrow.
It seems to me that all the bad news is finally out. I expect to see a PR on May 7 confirming production. Also, Rich has publicly stated that he was actively buying shares last month, and that must be disclosed, as you know, in SEC filings by May 10. And Yes, I do believe his statement that he was buying shares. Even Rich is not stupid enough, as THE major shareholder, to publicly declare he was buying shares if he wasn’t. To do so would make him PERSONALLY liable for losses incurred by anyone buying based on his statement.
Given the management changes at SEVU, I believe to SEC action will end with only a cease and desist order against the company. The SEC MAY refer the case against Rich to the Justice Dept for further action, but that would be against Rich personally, and not the company.
Yes, there has been a lot of volume in SEVU lately, and I’m impressed that the market has been able to absorb the volume while keeping the price relatively firm. In addition to short covering, there appears to be some real buyers at this level.
In short, the bad news is out, and good news appears to be just over the horizon. Good Luck All.
Bill Branum |
