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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY
SMIT 0.01770.0%Jan 9 9:30 AM EST
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To: Michael A. Johnson who wrote (74)12/12/1996 1:38:00 AM
From: Brian Meath   of 276
 
12 cents would be awesome - vs 3 cents last year, and would certainly
have some impact on the stock. With the light trading and small float,
it only takes one of the big boys to move this thing. We saw that
back in March/April, when it was moving $1/day at one point. I was
fortunate enough to find this one a year ago, at $4.

Incidently, I found out today that the SEC approved SMIT to be marginable
back on Nov 12. I called my broker (E*Trade) to ask them why this wasn't
reflected in my statement. They said that code changes were done
manually, on a stock by stock basis. Once they recoded the stock, I
put in an all or none limit order at $8, but didn't get filled. I've
talked to two others who own this and use other brokers (Piper &
Schwab), and neither of them had it listed as marginable either.

Just to let you know, my company is transferring me to London next
week, and my home furnishings (including computer)are being picked
up Friday morning, so I probably won't be back on line until after
SMIT reports. I'm personally expecting $2.7mm revenue, and 10 or 11
cents earnings. But like I said yesterday, the real story for this
stock will unfold in the first half on 1997.
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