Dear Steve:
Here's a copy of a letter I mailed last week. I started selling as soon as the RODR report was released to the wires. I sold the last few thousand today. I still made a killing in this name, as I had traded my whole position in the Z's for 2 sticks once before back in May, and I flatted out on it this time. I had to sell on the upgrade as that generated the brief surge in volume I had to have to get out of 100,000 shares. PLSIZ trades like glue.
You have raised many salient points, none of which I was unaware of. You may very well be right in the long run about this company's lackluster prospects. Still, I really doubt that PLSIA is going to work well as a short near term. I just think it looks like dead money. Most story stocks like this tend to hang in there unless bad news unfolds. As long as there is hope, it ought to at least flatline.
All in all, there are simply too many other names hopping in this market to waste time with controversy.
I must say you are the most obnoxious person I have ever met in cyberspace. I hope I never run into you again. And, I still stand by my statement that ILT's press release claimed they had actually patented hydrogen peroxide. What a hype job.
Hope you go broke and are sued for libel,
Louis
PS: Why don't you rechannel some of your negative energy into something useful, like making money? You sure haven't made any being short PLSIA.
PSS: To those of you who asked me not to post this; I am sorry, but I think it's only fair to let people know where I stand after being so active on the board..
<<Subj: Re: PLSIA
Date: 97-07-31 15:25:00 EDT
From: LRiley9900
To:
To: DELETED
To:
To:
Guys,
I'm outta here. I sold almost all of my position. I was a little aggressive yesterday and the MMs smelled it. But it ought to lift now that I'm cleaned up.
The Rodman and Renshaw report was totally underwhelming, IMO. They see $17, John Doss @ Dominick & Dominick says sell at $15. Those are not exactly table-pounding buys and the Street knows it. Worst of all, there are simply no real size buyers out there. There is NO institutional support. RODR never even got on the bid the day they released their "buy", for Pete's sake.
Pluvia is absolutely right about one thing - every single piece of good news in this stock gets sold.
There are too many names working right now for me to hang around and wait for this company to get FDA approval in what - 3 months? This one has tried my patience for way too long.
So.....sorry for the lousy idea. I guess it was a three day wonder after all in terms of momentum. There will probably be another couple of days like that once the FDA approves the laser for children, so those of you will wait will probably see $14 again, but probably not much than that.
IF they can really sell 1000 of those lasers a year this stock will be a winner. When that becomes a reality I may revisit.
I will probably post this on the board tomorrow afternoon.
Best wishes,
Louis >> |
