Wow, an ELCO board on SI!! Elco was the first stock that I purchased a couple of years ago, after I read an article on e-commerce in the New York Times. I hung on to it for quite a while, buying in around 5 and 6 various times, but finally sold before losing too much. We had a great thread on Yahoo for a long while--very smart people, interesting and witty posts, but it deteriorated with the stock, and no one from the old days ever posts there anymore (most have all sold their positions, also, although not completely).
My impression of Elco is that it will never do much as long as Crowell is running the company (we dubbed him "The Mav," short for Maverick); the reputation that we were able to glean over there was that he is an anal-retentive control-freak, and a very stubborn one at that. Elco may come back some day, but I sold out after realizing that my money was basically dead--it didn't drop much, didn't gain much, just sat there (I sold before the big drop from 5 to 1 or so).
The only good thing about my experience on the Elco thread was that I made some good contacts there which steered me to WAVX (Wave Systems--check it out on SI), which has a HUGE potential upside. About 8 or 9 months ago, I wrote a post on the Elco board urging people to change their shares from ELCO to WAVX--they were both about 3 1/2 dollars at the time, and giving folks the reasons why. I'm sure as hell not right about everything, but I was right about that. Elco today is around 2, WAVX has tripled in value the last 2 weeks and is just short of 13!
Anyway, good luck. Anyone who can make money with this pooch is a better investor than me!! |
