Nanny, I'm in for more this morning at 27 3/4, in what I believe to be super bargain basement prices. I have also moved a good part of my IRA into this stock today.
With all the good news surrounding this company, I would assume Presstek will soon provide solid information regarding positive progress of upcoming projects that will again propel the stock to brand new highs. Those that don't believe this just need to read the patents and the prior company press releases. Having talked to the trade journals regarding the industry interest in PEARLgold plates, Catalina line and then hearing the opinions they have regarding the future of the Presstek company, not owning this stock long at these prices is insane!
I feel the saddest part of this whole correction process is many shareholders now being influenced to sell their shares at these prices by the bears. Some of the short position is now BUYING those same shares at these bargain prices to cover their short position at a profit. Obviously, with over 5 million shares short, these shares have to be covered, which will also contribute to drive this stock to much higher stock prices.
My advice to the shorts:
You will surely regret being short this stock at the time Presstek announces new on-press imaging agreements or new strategic alliances with large industry players. The question you need to ask now is "how low is low enough?" If you are actually selling new shares short at these prices, you are definitely delirious. I am as much shocked that the price of the stock is once again now trading at these levels, just as you were that the stock price was recently at 50.
However, no matter how many new shares are shorted, it will be impossible for the bears to maintain this stock at these low levels.
Those of you long..... Just hold on and be patient. I feel very positive that this stock will soon reverse this period of correction shortly (as it has done every time previously) and it will again reach new highs. Selling now is quite foolish....there is just too much good news coming. If you have already sold or have been forced to sell due to margin, make sure you are here when the stock turns, as this company best days are ahead.
Neil |
