Joseph:
To begin with I just want to state the following that I have absolutely
no position in XECM (neither short nor long) and do not and will not
intend to have any poisition in this stock either (at least not during my
life time)! The only reason I am reading this thread is because a
couple of my good friends bought this stock back in October of
1995 at the consistant pressure calls they were getting from this
broker in N.Y. For simplicity lets call this broker Mr. OBJ! OBJ also
called me (at the request of my friends) and gave me a big lecture as
how this company is growing and the fact that a couple of ex AT&T
executives are running the company, etc. He also said that the
stock will soon be $10/shr (by January 1996). I, of course, just
listened to him and because I never ever try to buy stocks under $10
anymore I did not buy any shares.However those friends of mine were
sucked in and bought the shares at ( I believe) around $2.75/shr.
Anyway 2 weeks later the stock went all the way to $4 1/8 and I
remember telling my friends to sell because this is a baloon that will
explode any second. But OBJ kept presurring them to not only NOT
sell but buy more! Fortunately my friends did not buy any more shares
but unfortunately did not sell either. And of course we know what
happened since then. The stock is under $1 and I personally dont
think it will ever go any higher unless a miracle happens from God..
For a stock like XECM to go up you need a new group of fresh
suckers and unfortunately the company has absolutely NOTHING
exciting to offer and because of the new laws going into effect for
Nasdaq and the fact that there have been so many bad publicity for
many brokerages for hyping companies with no foundation (e.g
Comparator systems (IDID), Centennial, Mercury Fincancial, etc.)
XECM is not and will not ever be pushed by dishonest brokers either.
Hence no more suckers to buy and push the stock upward. Unless
of course the company actually comes up with some product and/or
service that is really compelling to the industry. But considering the
fact that XECM used to be in real estate (!) before switching to
telecommunication (!) I dont see much chances of that happening!
My question to you as one of the most advocators of the stock is:
How can anyone possibly short this stock?!! I believe there is
absolutely NO WAY for any stock under $2 to be short unless the
short seller is really a heavy duty investor that the brokerage house
really loves, and even then it is very difficult. So your statements
implying that there are too many short sellers of xecm is very
confusing to me. How can a stock have short sellers if it can not be
short in the first place!!!!!!!!!!! I apprecaite it if you can please explain
this with document (e.g. some sort of SEC filing, or public web site,
magazine, etc.) that XECM has actually a huge short! I have
checked with Merril Lynch, Smith&Barney, Schwab, National
Discount Brokers, and Hambercht & Quist and all of them have
verified that a stock like XECM can not be shorted. Therefore unless
there are ghosts out there that are shorting xecm I am confused as
where have the short numbers that have been posted on this
thread in various postings come from?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Regards,
- Addi Jamshidi |
