All,It has been an interesting week to say the least. We have had a Trading Halt-Non
Denial Denials, Jerks up on the price and Jerks down on the price.. 2 medium size
blocks at the close one at
26-9/16 of 18K and one at 26-15/16 of 10K trades after the close last 2 at 27. The
precipitous Drop from 28 to 25 which, BTW looked like a move to take out stops to
me..and very little volume during the drop. I've looked at this last weeks volume
and then yesterday's volume no one is "bailing" The putters/shorts have their positions
as do the longs...When I called the company and asked to speak to John Reed, I was
told he was in meetings since the morning and would get back to me "next Week"
I don't read anything into that except he could be in meetings or he could just not be
taking calls either way it would not be until next week before he would be willing to
talk.
one Poster wrote "they halted the friggin stock" Obviously something was up? the only
thing that was obvious to me was that
even under pressure from nasdaq no comment was the rule...Although the next release
did clarify that they were in discussions regarding licensing and "other transactions".
Now then we have a fervent poster telling us that fundamentals stink! This applies to
all the "internet stocks", taking out charges and only posting revs nevermind the
losses...
Everyone is in position for next week, either something IS brewing and I feel that
there is or it's smoke and mirrors...
I have tickets at 25-3/8's and in between. If I did not think there was anything to the
deal and was a trader I could have easily made my money and Sold before close with
1pt+ gain, great job for any "daytrader"...But, I am long not because the "deal" may
be "imminent" but, because either licensing or a deal will take place and/or stakes will
be driven.. someone thought enough
of SRCM to put 120Mil into them not chump change.
I am currently awaiting a packet and patent information and copyright info regarding
software applications...
I do know that he who controls TV, has the biggest audience there is in the world and
to that end many would leap at that opportunity...however, that pre-supposes that
SRCM has the goods.
Also, they actually have Successfully defended their patents at least once that is
publicized meaning, there is obviously a precedent and that was 2 yrs ago, the laws
don't necessarily change and if the patents remain in effect for the next couple of
years...This i dont know and is why I want that info from JReed,
because, If they have say 3-4 years life left and indeed all these push and pull/html
applications ie search engines are in actual violation of these patents then this is indeed
worth a great deal... The suit with world gate is in litigation but a precedent has
already been established either "WG" will settle or they will eventually Lose imho.
Others have allegedly already "settled" these are the details of which I want.
I bought my tickets because it is "VERY UNUSUAL" for a stock to stop trading then
resume at a much higher price then sudenly back off but. no got in the toilet? that is
curious indeed.. If funds were rushing for the door 2 pts would not be the bottom.
Again, Look at the trading and the blocks that were bought Tuesday Wed Thursday
where was that volume and blocks on friday=NADA, folks are sitting tight and I will
do the same.
SourceMedia, is not "sliced bread" but if claims about the New applications of the
"old" patents and innovations recently applied are real, then I'd say i have a bargain on
my hands at 25-3/8's and places between. |
