Regis, sounds like you have the story pretty well in hand. I'll say I have held on, bought a little for some new accounts, but generally have not yet doubled, tripled or anything of the kind. I won't commit new money until I see a shift in news from bad to good....right now, we're hopefully inbetween the two. On a book and cash value basis, the stock is dirt cheap. On a string of good news, it wouldn't take much to push the stock back to the mid-teens. Between new money and short-covering, the volume would give the stock price a tremendous push.
However, at this time, what we're holding is a battered, small cap tech stock. Need I say more. I mentioned to Jack I have used any cash that I wished to depart with on other similar stocks so as to diversify. However, if we can get moving in the right direction, I'll deploy a little more, likely doubling the #shares (not the $ position) in MRV. Fortunately, I've been selling some large cap names last week (unfortunately, I held on to some BA) and have some available cash--if needed.
Now, that's what I'm doing, but I have to answer to my clients. I don't think Jack and whoever else is buying at these levels are wrong in doing so. Further, Jack is in the industry and has good technical insight (which I certainly don't claim to have). The difference is, it's HIS money to lose and he is willing to take a risk which I am not willing to take on my clients' behalf. I do agree there will likely be a move in small-cap stocks over the next couple months, but of course, I've been hoping for one for the LAST YEAR!
Oh, and the reason I haven't posted much in the last couple of months
has nothing to do with my position, or lack thereof, in MRV stock....just been extremely busy. I have, however, tried to read the thread when possible. It's usually a very good contrary sign when there is very little posting....
regards,
greg |
