Continue the Trading Halt
Though part of me would love to pick up more shares at $2 or $3/share, a bigger part of me cannot swallow the notion that a concerted short attack could be allowed the luxury (profit) of covering at those prices.
To that end, I would encourage those who are long to contact TRBD and the Nasdaq to support one of the following two reentry strategies:
1. Allow the company the opportunity to make a press release before trading resumption that outlines the outcome of the hearings, the company's response to the substance of the rationale behind the halt, and any signed OEM agreements that have been consummated since the trading halt...or
2. Allow TRBD the opportunity to replace the regulatory trading halt with a "Trading Halt: News Pending". After the company releases it's news, presumably with Regulatory approval, the market makers can review existing buy and sell, limit and market orders, and resume trading without decimation to share values that will certainly occur if trading resumes without the company's immediate and prior ability to release news.
Does the Nasdaq through nasdaqtrader.com or other means listen to little people?
MikeC
P.S. Nathan, I spoke with someone in N.Y.C. this afternoon that had a copy of a complaint that indicated a "lead plaintiff" had made a couple of round trip buy-sells in TRBD late in 1998 and early in 1999, both of which were in the range of 20% losers on 5K and 4K shares if I remember correctly. I don't remember the name of the law firm that was on the letterhead, if in fact, the analyst told me.
The complaint echoed some of Asensio's original assertions re. non-existent patents, questionable technology, and misleading statements by the company of it's prospects.
I find it curious with all of the furor stemming from August that no bait was thrown to the masses re. class action until the trading halt. |
