>>>Fair enough. I might question the ethics of such activities<<<
You mean Asensio's ethics, or mine? I have no control over Asensio, he's going to do what he's going to do. If I see a situation where I know a stock is going to move in a certain direction, I have an ethical responsibility to myself and my family to jump on it. The 5000 shares I shorted on his sell rec won't change the price one tick (well, maybe one), but it did make me money. That is what stock trading is all about.
>>>I assume from your posts that you are still short KRY (duh)<<<
I shorted on the rec, at 5 7/8, covered at 4 9/16, and reshorted a smaller position at 5 3/8 Friday. I'm sure I will cover and reshort at least twice this week, Asensio stocks trade in a very predictable pattern.
>>>What I would like to know is at what price level do you see yourself covering?<<<
After the first week's gyrations are over, I will let the market tell me when to cover.
>>>Also, w/o knowing much about this company, how do you intelligently decide when you have reached this exit point? <<<
Securities in this market are not trading on the underlying fundamentals. If so, a short of Yahoo! would be in order at these levels, but Yahoo! is more likely to go up than down.
>>>Or will you base your exit on your read of the herd<<<
I guess that's a crude, albeit accurate way to state it.
>>>Given the complete amoral nature of this Assholio (sic) character, how do you know that he isn't manipulating you to his own advantage? <<<
I do not accept that Asensio is "amoral". It is not immoral to short, nor is it immoral to state that a company is a fraud, if indeed that is your informed opinion (no, it does not have to be fact, nor does one need "proof"). Was it immoral for Asensio to say that Solv Ex was a fraud? In the end, everything he said was true, but there are folks to this day who blame him, rather than John Rendall (Solv Ex CEO) for the demise of SOLV. My question to you is "How do you know that what he says about KRY is untrue?".
>>>When you and your friends have driven the price low enough for him to cover, he does a 180 and goes long. <<<
Why would he do that? It is suggested on every Asensio related thread that this may happen, but is a fantasy of the longs rather than based on quantitaive analysis.
>>>Kinda like the legal trouble he's currently in with KRY (which you ever so lightly brush off) dontcha think? <<<
I brush it off, because I've heard it all before. Crystallex even hired the same law firm as Solv Ex. Anyone can sue anyone else in this country, it does not qualify as "being in trouble". If Crystallex were not worried about being exposed as a fraud, they would not have initiated this legal action (in my opinion).
>>>Now, I'm not saying that this is what's going to happen, but shouldn't you consider all possibilities? Be careful who you get into bed with Babs (sic).<<<
All of these possibilities have been presented to me before. None has ever come true. I think the liklihood of Asensio fooling around with his reputation (and believe it or not, he has an excellent reputation, at least with the audience he is trying to reach) for the short term gains you propose is ludicrous. I do believe Asensio's prime motivation (for publishing) is ego, and I find it very doubtful that he'd screw that up.
I am not "in bed" with anyone.
Barb |
