Hi Mike,
Just because only one or two people post to this thread doesn't mean that's all who read this thread. Judging from the number of emails I have received, the posters are only a tiny fraction of the total audience. The type of audience I'm writing for are people such as the author of this April 11 post:
<<I recently purchased DWCH by recomendation of Lew Lieberbaum. They have expectations of good numbers for the quarter, and were looking for a move to the $6 area. I hope so!>>
I'll be the first to admit that when I was first targeted by LL, I was a novice at dealing with brokers (but not at understanding charts and prices). I'm a fast learner, and have come a long way since then. Mike, you too were a novice at one point. Why do you object to the dessemination of useful information to other novices? This is an appropriate forum, because it's one of the first places a lot of people look.
I won't go into the tireless debate of the relevance of the reputation of the market maker (who, after all, does generate the "expectations of good numbers for the quarter"). It just strikes me funny how so many "fundamentalists" focus so narrowly on so-called fundamentals, to the exclusion of all other indicators and information. I'm only sharing my opinion that there are numerous factors which affect the price of a stock, and the probability of its future course, and that the more of these factors you learn to interpret and use, the higher your probability of success.
I have been doing a great deal of research lately on NASD regulations, on broker practices, and other related topics. I've got a fairly detailed piece almost ready about how brokers are supposed to determine your risk tolerance. As with all regulations, there is always someone who will try to get around it, such as Phil (don't ask, don't tell) Gullo, the compliance officer at LL. Since it appears you don't use a so-called full service broker (many of which have full-service prices for zero services provided), you may want to skip that one.
As far as <<what else would you think a microcap tech stock like DWCH would be but a speculative stock>>, well, you never in a million years would have guessed that about DWCH from the descriptions given by Mike (all mouth, no ears) Mondiello. No, from Mike and Bill Convoy's often repeated statement "our research department only recommends three or four stock a year" you would have expected that there were at least some positive prospects about the company other than the fact that LL just happened to be a market maker for them. I had given both Bill and Mike very clear instructions that I wanted only stocks above the 20/50 moving averages, their hard sell tactics were the reason I didn't verify for myself the status of DWCH. But, that's something for NASD to determine.
Anyways, thanks for the response, sorry you haven't found any relevant/useful information in my posts.
Robert |
