CLYS (PRTL), ABDR, and MY F#$#%ING BROKER
Doug,
I think part of PRTL's and now CLYS's stubbornness has to do with the fact that they're difficult to short. I confirmed CLYS's shortage of inventory with the Citibank broker that has my IRA and the discount broker that has my sons' custodial accounts. This happens when management, working closely with the market makers, control the float closely. When they go down, it tends to be of natural gravity, rather than the army of shortmeisters that line up every time a stock takes off.
ABDR: I couldn't agree more. In fact it seems to be in an awful rush to fulfill the shibboleth that all gaps are eventually covered. This one had a four- or five-point one in early February that'll probably take all of five minutes to fill once the needle drops.
I bit an awfully painful bullet on PAIR this morning, particularly inasmuch as the stock rose almost half a point after I bailed. Still, I'm proud of myself for doing so. In some ways, taking painful losses gives me as much pleasure and pride as taking easy profits.
NO HINT INTENDED about HCIA, ONTC, MAGNETS, etc. None whatsever, DOUG.
Ivan |
