Tom,
Check out my reply #457 as far as writedowns. As for rumors, the only one I have heard was from IR, which was that they have news that they are about to release, pending the OK from the company. I doubt that it is a buyout, just more new revenue sources I think. I hope we hear at this conference call tomorrow, if it is still on.
The heavy volume buying recently is very interesting, especially the large blocks changing hands in negotiated deals(my assumption given that the blocks are large and the price doesn't move). Terence did say that a lot of analysts are still interested in this company, probably from back when it was $11/share, and 3M share traded hands in one day!
As for my recommendation of PHP a while back, check out the thread that I started on techstocks.com. I think it is going to keep bouncing off of 17-18 or 21 for a while as it wears away at resistence. I hold 250 shares that I bought at 22, and I plan on trying to play the bounces off of the resistance with another pot of money. I figure if I am wrong, it will only be on the up side, since the company is in a great position to triple their earnings next quarter, and has a LARGE short position that hasn't covered yet. Check out my other posts on that thread.
Kevin |
