Pirate-
I hope for your sakes you guys who are still bulls on this company are right and I am wrong. For me, I no longer have a position, so it doesn't matter much one way or the other.
You're right about one thing- I do take what they did, and how they did it, very personally. They have a fiduciary, and some would even say moral, responsibility to at the very least treat all investors the same. Which they didn't. And yes, they're certainly not alone in this. So?
Honest, I was a history major- and you know the credo- Those who forget the past are doomed to repeat it. And woe to me- I did repeat it. Not with these guys, but with a co called Protocol Systems (PCOL) 2+ years ago- their damage control guy gave me an eerily similar "we're as curious as you- don't have a clue what's going wrong with the stock" when it was trading at 15 (on the way down from 27 six weeks previously). I didn't believe him- sold my 2000 shares. A week later they made their announcement- the same as EQNX- "Just a temporary problem with a subsidiary for THIS QTR ONLY- we'll be right back on track shortly. The stock opened that day at 9 and hasn't been above 13 and change for two years. It turned out to be not so temporary. That was two years of dead money for the fatally optimistic. Today it closed at 8 and 15 teenies, AFTER an analyst upgrade earlier this week. And there are literally hundreds of cases of stocks which never come back after a technical hit like this- I'll say it again- the tape never lies, no matter who else does..
So I'm pissed that this time I of all people should have seen it coming after my little talk with EQNX management- all the bad vibes were there. And I let it happen anyway, thinking that old refrain "This time will be different." Not likely..
So good luck everyone. I hope you make out with this stock. But I am a little skeptical- I keep thinking there's still more to this story than has been revealed. "In the fullness of time", as the late FNN commentator Ed Hart used to say. |
