Steve, how many times do we have to recap history for the newcomers? One would think that a glance at NSM's long-term chart would be enough.
It's all too easy for someone who bought NSM at $10 to be totally hyped about the stock rising quickly above $20. Heck .. even I was interested in NSM at ~$9 to catch a few dollars on a bounce. But a 2X+ rise for a company that's losing money, has admitted failure in both strategy and in the marketplace, and which has been forced to sell a prime asset due to liquidity problems ... is not sustainable.
What the newcomers forget is that many of us have sold far more NSM shares than they now own, at prices higher than today's close. And that without a lot of structural support, what goes up must come down. In the absence of hard news to offset established fact, I view anyone holding NSM shares at today's prices like someone building a Bennie Baby collection to fund their retirement.
I wish all NSM investors well and hope that their returns are exceptional. Perhaps some day Halla will, for once, deliver more than he has promised. Perhaps NSM will eventually become a steaming profit machine. And perhaps some day Beanie Babies will be sold at auction by Christies. But my gut says that the only people who will make out in the short run will be the market makers, NSM's management, and Shop-At-Home.
Caveat emptor.
Craig
re: "Sure this run up has been nice and I'm very happy some people made money, but I haven't heard anything substantial out of National to really change things. " |
