2 15/16 yesterday. I think I may have questioned someone's intention about a month ago to buy long at 4 1/16. I think I asked why longs wouldn't just wait another 30 days and come back and buy then. I'm still waiting.
Support during last quarter's brush with the high 2 area filled in about 2 7/8. If it breaks through this support level, there is no further technical point of support to look for. At lower than 2 7/8, we have entered the AER Zone.
This stock has been a great lesson in the real value of fundamentals, sales and revenues. Companies only have a certain shelf life when sales, revenue, and profits are non-existent. AER has done a better job than most in fighting off that ultimate reality.
Hopefully, COMDEX will give AER its typical post convention short term boost, maybe to 5, to give my good friends like Ariel the time to get out. And give me the opportunity to short the farm- AGAIN - for the 6th and what I believe may be, the final time.
John Q. Customer
P.S. One more fundamental comment. NASDAQ requires a surplus Net Tangible Asset requirement to maintain listing on their exchange. Check the AER s-3 through Edgar, and see how many more months without revenue or cash infusion they can go before they fail to meet this requirement. When they fail to meet it, they are delisted, and traded in the pinks. If you didn't already know, the price doesn't go up when this happens. |
