No,Jim, today's sell-off was a hedge fund that closed down, and the fund was converted to cash. They sold 50,000 shares pretty aggresively, and were completed at 13 5/8.The fund manager, believe it or not, loves the story, but the fund was closed down for liquidation, and he was required to sell it.
My phone has been going all day long with worry about when is the deal coming, what is wrong, etc....
1.The time of greatest risk in CCSI was time prior to FDA approval. Then we could have really gotten hurt. Now the risk is not being in the stock beofre the deal or deals is announced.
2.If you are interested go back and read post #477 dated November 15.
If those numbers don't give you a little confidence, then I can't think of anything else at the present time.
3. Everyone is asking about the deal, like they were asking about the FDA. We didn't know anything about the FDA, as evidenced by all of my lousy timing ideas, but I do know one thing with 100% confidence. We will have a deal, and when the deal comes CCSI is going to be a hell of a lot higher than where it is now.
4. If we get a deal that we can annuitize their earnings for 2-3-4-5 years, then this stock is going to catch a very large multiple, because people will have confidence in the future, and Wall Street likes visibility of earnings.
5. Technically we went from $7 on 7/30/97 to $19 on 10//22/97, and the stock has retraced 50%. This should be the level for it to stop.
If my numbers are in the ball park on the deal $13 to in excessof $50 is a reasonable risk reward. If that is not enough to wait for, then I or you are in the wrong business.
6.I personally have never had more conviction, and this is the only stock in my portfolio that I don't worry about on a day to day basis. I know where this is going, I just don't know when it is going to get there, but who cares when it happens?
7. As a lot of you know I am a very big fan of Darby's, and this lady is going to make us all very rich. She has done everything she said she was going to do, and she is going to do a deal that will knock our socks off. Cut her some slack, she is working night and day to do the best for her shareholders, and she will do it!!Take it to the bank. |
