<< reflect on the power of the NET >>
First, thanks Hal and Jubimer for taking the time and trouble for following this one up and reporting on it. Thanks too to the good Count who posts on the "rabble" board.
It sounds like AXC actually got a good hearing from what also sounds like a well informed panel. The adjudication of legal claims is perhaps funny; right and wrong get trampled and what holds sway is presentation focus and determination. If a plaintiff can show they know the law and that they mean business, the system will back them.
That good guy tough guy bored guy stuff is all an act. These guys are so experienced that they have sport with the suits who stand in front of them. But they can get to the facts very quickly. I was involved in a civil suit where I had to make the presentation. The experience is exhausting and the fielding of their questions caused my brain to function at a speed of which I never thought I was capable. You hear every word one at a time and as if each was shouted at you and even before the sentence is finished, you understand the motive for the question and have the retort ready to fire back ... they know this and they depend on it.
A couple of thoughts have been kicking about lately about this entire experience. I've been wondering on how many small stocks have been trampled in the years gone by without so much as a following even by corporate insiders.
They would have been seen, if one subscribed to an expensive but complete charting service, as stocks whose prices have slumped and whose fortunes were seriously in doubt. The casual observer would say the "There must be something wrong with this stock .. or .. that "Someone must know something about this one." The prudent advice would have been to skip it and move on.
To counter this, there were numerous sages who passed comment such as "If the stock seems like it can't go up, then it definately will" or that "Buy a basketful of low priced stocks and hold for the long term."
Now, through the advantage of the NET, we are living these grey moments in history in real time. Are we usurping the MM's hand and stealing their "manipulative accumulation" thunder? Yes and know, I think we are seeing the reason why accumulation has always had a basis
in fact. However, at the same time, I thing that accumulation was ways done in a professional manner, that is without emotion and fanfare but just done as a matter of fact.
It's very possible that this democratizing power of the NET may transform the entire capital formation process especially for the low priced issues. To say the same thing, we are doing a job in bringing efficiency to this neglected area of the market. Our reward will be profit. Just keep in mind that the time compression of NET real time is not the same time as that needed by a security to achieve a serious business workout. I think the short term focus of many board posters belies this time confusion.
Ed Perry
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