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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts
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To: Steve who wrote (3856)5/31/1998 1:31:00 AM
From: TraderGreg  Read Replies (2) of 25711
 
Keeping authorized shares the same in a reverse is common practice.

And that is why a 1 for 10 or more reverse is the kiss of death 9 times out of 10. If they reduced the authorized, it might just might instill shareholder confidence..but then how could they dilute after the major reverse, which is what most of these clowns immediately do after a big reverse.

Over on the CSMA thread, I'm tracking stock picks people made at the end of '97. Of the 44 stocks picked, 5 did reverses...2 of them were mild(a 1-2 and a 1-4.5)..stocks are ok. The other 3 that did reverses were:

OLEX 1 for 10
BCMD 1 for 10
CVIA 1 for 300

Those three are in 42nd, 43rd, and 44th place respectively...down 81, 87, and 88% since 12/31/97.

Of course, CSMA(which hasn't done a reverse) is in 41st place and IKAR(a favorite of Joe and GaBard's is in 40th place. So much for rankings.

TG
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