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Peter...I shorted SRCM yesterday, then noticed thestreet.com had a piece about it, neither overly negative nor overly positive. In the article, though, they make reference to the need for the stock to stay above 20 for 20 days in order, if memory serves,for some warrants to be converted. As you know, the stock was the rumored target of a takeover by any number of companies, and that's what shot the price up. The buyout never happened. Then, SRCM hired some big shot patent lawyers to beef up their patent position. Today's action leaves me bewildered, but when I short it's usually for a term longer than a few days, so what's four points? The company seems to have a real talent for losing money, about 2.90/sh this year, maybe 'only' 2 next year, so I'll try to be patient. Good luck. |
