Hi Howard !
What a difference a day makes !
To all,the future as I see it: In the short run, without a statement of the terms of the deal, and with conversion lurking, RNTK will probably do very little, maybe trade between 7/8 and 1 3/8. But RNTK will publish their 10-K in February '99, 4 months from now. If they received any money from Texaco, in any form, we will know by then at the latest. I bet we will find out sooner. My prediction is just before the terms of the deal are announced, we will see another conversion event, just like we saw 2 weeks ago. Keeping track of the convertibles is probably the smartest DD we can do. When the terms are disclosed RNTK will shoot up to $3 - $4, sell off, and base around $2 - $3. Between now and then will be the last time to try and day trade this stock. So sell if you think RNTK is dead money or do your best to make a quick, measly 1/8 or 1/4 of a point until the terms are known. I wish you luck. You'll need it.
Once RNTK has based (and conversions are through), it is no longer a speculation, it is a MONEY MACHINE. As more and more refineries install RNTK's technology and RNTK signs more deals, the earnings stream will grow and grow. IMHO, day trading RNTK will be like trying to time MSFT from 1993 - 1997. The smart money will buy and hold and check the paper once a day instead of spending their lives in front of a real-time monitor.
My plan is simple. 1) Hold the shares I have. 2) Put in a Good Till Canceled (GTC) order for 3/4 (just in case some fools decide to dump) and 3) watch RNTK's volume and read this thread once or twice a day to look for signs of a conversion event -- the signal that the REAL NEWS is just around the corner. 4) Load up and make a bundle !
Regards,
Chris |
