FWIW, I echo your sentiments/observations, Fred . . . GMGC's obviously facing some very formidable hurdles as are many of its tech brethrens in the Valley and elsewhere, but somehow I think Kathie's going to ultimately get things turned around, with some help from another equity financing and/or GM and/or perhaps some other sources keeping them going in the meantime . . . hope springs eternal.
Thotdoc-- Re your post on GMGC's trading pattern, I've given up trying to predict or explain any of its short-term movements . . . it has a mind of its own, and always has had -- LOL. But it's sure had a nice bounce off its lows like a lot of other NASDAQ stocks (the QQQs are now up 28% in just the past 3 weeks, with many stocks doubling, tripling or better), and that's very reassuring. The market's tone looks much better now, at least for the time being. A friend who's a Goldman Sachs salesman told me yesterday that there are some very large institutional investors, mutual funds and the like, that have very heavy cash positions (30% plus) and are getting very nervous about missing this upturn. If history and psychology are any guide, they'll be dragged (reluctantly or not) back in and increasingly whittle down those cash positions in the near term (and perhaps are already beginning to do so), providing a nice underpinning -- and perhaps significantly higher upside -- for the market. Plus, there's that $2 trillion sitting out there in money market funds . . . given the relentless decline in the yield on those funds, combined with investors feeling (rightly or wrongly) that the worst of the economy's weakness and the stock market's decline is now about over, perhaps some of that money will also find its way back into equities in the coming months.
Sorry for the inadvertent outbreak of enthusiasm this morning, but I'm just feeling a bit better about things these days (which may mean it's about time to take some profits :-)
Take care,
ea |
