Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: reggie jackson who wrote (2267)	9/2/1998 7:40:00 PM
From: RockyBalboa	Read Replies (2) of 4634

GMGC - GenMagic The runup today that was true for so many of the joke stocks. MCHM, TRBD and the likes. BTW Who can borrow me some TRBDs? Datek is out, finally. There is another one in the pipeline: it is called GMGC, and jumped up to 7 3/8 on 31/8/98 pre-crash times, thus attracting it to me for a short position. Now is is at 5 7/8, easy to lend, easy to sell over six, due to the frequent spikes. At present it is very liquid with a daily turnover well over 1 Mil. Disclosure: I maintain a short position opened at 6 9/16. For quick (and ugly) numbers, look at: biz.yahoo.com Some highlights: book value is 0.07, though cash is 1.93. Almost no sales while the co. incurs high losses. Float appears to be 24.3 m with 3m shares short at 10/8/98. With no sales and huge debt it is soon a $1 stock. Recent price action quote.yahoo.com and more stories about the convertibles at: sec.yahoo.com Christian

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