Gary, I enjoyed your post, as usual, and agree. As I'm sure you know, most longs just like to cheer- that also goes for VVUS longs, as you also observed (of which I'm one, BTW).
To all: I listened to the call and plan on doing so again and taking copious notes. It was extremely informative, and I found the CEO one of the most credible I've heard on a call. I have also followed most of Asensio's picks and shorted several of them the last year and a half or so. I've also been long on ZONA before and got out many weeks ago. I was thinking about going short just before Asnesio's report came out. But looking once more at the company and more carefully, especially hearing the conference call, I plan on going long again. I don't yet know at what price, however, I will enter. In brief, I think Asensio is quite wrong on this one, although that's not to say he won't make a profit in the short term. As usual, several of his statements are entirely inaccurate- but that in the past hasn't prevented him from getting the big picture right. But this time not only has he erred on some of the details (addressed in the call), but also in the big picture, IMO.
I am concerned about the stock in the near term as it may be victim to a news vacuum for a time. We will see.
Anaxagoras |
