Sethy, funny how the same message can be interpreted through different eyes. Sure, we are bias, after all we have put our money where our mouth's are, on the line.
Let me tell you a little story, a true story, and one that a few here on this thread can verify as they share the same day-trading chat-room with me.
As you well know, I spend the better part of my time Daytrading fully listed Nasdaq stocks. For the past few weeks I have been accumulating a company called Peapod (PPOD). Even highlighted it recently in my newsletter as both a short and long term speculation worth consideration.
Many questioned my tenacity in accumulating this company, afterall it had just been beaten down recently from the $10 level to under $6. Yada Yadee! I was pummeled with questions, some boarding on questioning my sanity for such aggressive accumulation, only to be answered with: /me buys more PPOD at 6 1/8, 6, 5 15/16, well you get the idea.
Why? Because I see the potential of their market, and it's time had come. It was also an Internet related company, an online grocery store. Makes sense to me. Figured with all the hoopla over companies that sell everything from CD's to religious articles over the Internet, groceries delievered to your door made a whole lot more sense, especially when most couples both work.
It wasn't a matter of when they got around to it, afterall why rush, the price was right and I wanted to soak up all I could. Buying it when nobody else wanted it.
Lets see; huge market; makes life easier, in a hot sector, what else was there to think about. Made sense and the price was right.
Well about a 45 minutes to a half an hour before the market closed today, a little tiny "blip of a news release" came across the wire. Trading at the time with a mere 5 3/4 ask price.
Within about 35 to 45 minutes it closed at 7 11/16 and was trading in the after market at 8 1/8.
Now granted I didn't own but a smidgeon of PPOD compared to FTEL, but to say I'm a happy guy is an understatement. Just goes to show you what happens when a sector gets hot.
So as each day passes and I read about more and more Internet Telephony companies coming on line, it only makes me know I am just that much closer to the day that the same exuberance is demonstrated on the Internet Telephony sector. Please VOCLF, IDTC, NMSS, INTL, report some kick ass revenue and earnings increases, I'd love it.
30 whole minutes. Gee have you hugged your stock today?
rb |
