Here's a good post from ragingbull:
By: jimwest_1999
Reply To: None
Friday, 19 Feb 1999 at 9:08 PM EST
Post # of 2473
Breathe easy folks and read on...
First of all, for all you who are concerned about where us regulars have gone to, you need not be. We're all still here. The only reason you hear less from us is because we're not interested in exchanging
words with all the naysayers and shorters that have gathered on
this board. When an intelligent discussion is initiated, we're always here to give our two cents. Otherwise, why bother?
Anyhow, since many of you here have been requesting our opinions on the recent turmoil, I'd like to offer my own.
To start, I want everyone to know that I am currently down over 75 thousand dollars on this stock and I have yet to sell a single share.
Why? Because I had done my due diligence on this company before ever taking any position in it. As many of you know, I have contacts. I have enough money to afford whatever research I feel I should have done for me. I have years of trading experience. All in all, I have and had everything I needed to determine whether WCTI was a long term play. It was and still is. Unfortunately, there was no way to forsee the short term volatility that would influence this stock. But the reason I haven't sold with the masses, is because I invested in the company and not in its stock -- figuratively speaking. I bought Dan Lunt, I bought his software, I bought as much as I could buy. I've done this before. I bought a young college dropout at Microsoft and he has yet to do me wrong. So the bottom line is as follows: if you already know full well that as a third generation search engine, Spyhop is innovative and years ahead of its competition, then don't question your original decision to buy. Who cares how day traders, market makers, short sellers and others are influencing your stock today. The company's business just got under way. All they've asked for is less than 6 months to release a full product and provide investors with a NASDAQ listing. If others are going to speculate in the mean time, let them. Just don't permit them to do it with your shares. Follow this advice and they'll be gone within days. All of them.
Now on a final note, if any of you may be wondering at how much this stock should trade by the end of '99 -- well assuming 10 times book, we're looking at no less than 100$ a share. If upon NASDAQ listing we find ourselves in the midst of a high-tech buyup in the market, such as that of the last 2 months of last year, then we may be looking at a valuation significantly higher than that.
On a closing note, remember this folks: it was you all who were
responsible for the dramatic drop in stock price. If you hadn't sold
even some of your shares at the ever decreasing bid price, none of this would have happened. As they say, it takes two tango.
Hang on to what you have left. In fact, the last time we saw a decent recovery was when I suggested that all of you put in an ask price at least 5 times higher than the currently value of the stock. What say all of us try this again.
Oh, and for those of you who subscribe to my opinions, why not post this message on other boards that you may frequent. It seems to be some of the only positive opinion I've been reading in a while. Cheer up and stay long. |
