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Technology Stocks : Audio and Radio on the Internet- NAVR
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To: Andrew H who wrote (153)7/16/1998 6:24:00 PM
From: simarx  Read Replies (2) of 27722
 
-->I asked you for evidence and you still have provided none.

Andrew, I took your statement to heart regarding my judgement of the company. This afternoon I sat in on a meeting with the top analyst of a Nasdaq Broker / Dealer. Siting with me were two other licensed pro's. Near the end of our discussion I brought up last nights PR releases and asked their opinion.

The Analyst stated that it was very poor what they did. At best they could have qualified operating profit but stated the overall loss. They did not even do this in the revision, but left a -.03 as a footnote. This is a gross violation. The professional to my right immediately said lawsuit, NASD investigation, etc. The professional to my left just shook his head in disgust. It bothers me that there are so many investors who do not understand what is wrong with these releases.

Think of all the people who are being hurt by buying in on the momentum, thinking the financials are in order. When I added to my short at 7, someone bought. What about them? Whose fault is it that the price dropped back to 6 1/8 bid. I know what I am doing, now my profit is the same as when the price was in the low 5's. And when it settles back to 5 (I hope), I am making a lot of money. But again, what about the individual investor who bought at 7? Who do you think the SEC cares about. One complaint to NASD and/or the SEC and this is going to raise a lot of eyebrows.

Now, what about these momentum traders who tell their members to buy as they sell? How can these guys sleep at night?
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