SIEB Siebert Financial Brokerage Message Board

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Technology Stocks : SIEB Siebert Financial Brokerage

SIEB 2.610

-4.7%

1:00 PM EST

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To: Gutterball who wrote (215)	4/8/1999 5:41:00 PM
From: Sun Tzu	Read Replies (2) of 284

SIEB is a risky stock, but no more so than the rest of high flying internut gang. Don't misunderstand me; I'm not trying to talk you into it. I am just saying that you can make the risk arguement for ABOV or MCGX or even JBOH (which rose 50% just today and SIEB is better than JBOH). By my account, there is now around 1.1 million shares in the float. However, most of them are either shorted or owned by ardent holders. The kind of people who are bought SIEB above 20 and 30 is very different from those who bought it under 5 or 10. Ultimately the stock behaves according to the psychology of its majority holders. In this case I suspect it will keep going up. >>...she has decided to take her profits in the form of capital gains, so I expect we will see some 144's come out... I don't think so. Muriel has never taken a dividend. This is not a new occurance. Nor is she the only major owner of a "small" business I know of who does not take dividend and does not sell shares. She holds 20 million shares. The dividend on those shares would be a huge burden to the company if she were to take it (which is why she never does). Secondly, her net worth is very much tied to the stock price. If she sells out every time the stock rallies (and even last time she did not sell too much compared to the daily volume and her holdings) then the stock will be permanently out of favor by the investors and she'll be ruining her long term success. So long as there are those who think the stock will crash tomorrow (any tomorrow not just this one) then there will be shorts who will not cover and shorts who will join in on the parade and push the stock higher. When I shorted this stock, everyone was serriously convinced that it would hit 100 the next day and no one wanted to short it (which is why I had easy access to the shares). There were messages every 2 minutes on the yahoo board. You could not keep up with them. Today, despite a 30% rise and a break through the resistance and only a minor drop from the highs, everyone is convinced that the stock will crash and there has been only 40 messages on yahoo since the 5th. Stocks don't crash when everyone is pessemistic. good luck, Sun Tzu

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