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Strategies & Market Trends : LastShadow's Position Trading
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To: Jay Lyons who wrote (5216)12/31/1998 11:45:00 AM
From: Shane Venem  Read Replies (1) of 43080
 
TMSR. File this under the "I can't believe what I'm seeing" header. Game controller company (joysticks) that has been whacked pretty hard by increasing competition. Loses money. They come out with the "Talk and Play" software (licensed from Intel) that allows player to talk over the internet while playing games and the stock takes off from about 3 to 14 1/2. Looks like internet euphoria, right? The stock falls back to around 7 or 8, then starts a steady, unrelenting climb to set new 52 week highs. Look at the chart on this thing. The stock can be down 1/2 a point, nothing happening, then 5 minutes later be up 1 1/2 points. In the last 2 weeks, I have rarely seen this thing close down. No doubt there was a huge short position in the stock after its run-up, but any shorts left in the stock are looking at red ink. You look at this company and its stock has been a dog until this month. Now it's strapped to the Space Shuttle.
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