Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: Que who wrote (5482)	12/12/1997 3:16:00 PM
From: Brian	Read Replies (1) \| Respond to of 10368

Here comes the selling.... BNGO: -1/4 bid: 6 1/2 ask: 6 9/16 vol: 72,100 BNGOW: -5/32 bid: 1/2 ask: 17/32 vol: 57,500 with the end of the warrant call being only 6 days away, I seriously doubt the company would push the call back, even if the stock goes sub5. they want to show the money on the books for the 4th quarter and with so few days left, how many more will be converted? not enough to make the difference in the push!!

To: Que who wrote (5482)	12/12/1997 3:50:00 PM
From: Jonathan Brown	Read Replies (3) \| Respond to of 10368

Here am I, Q. For the moment I'm a bystander. First I got stopped out. Then came a technical signal, the doji I alluded to a couple of days ago. When the price deteriorated the next day (added to BNGO's failure to move up on high volume a day or so before), I found myself reluctantly agreeing with B-Man, who has said all along the price could decline all the way to 5 before the end of the warrant call. By temperament I prefer TA to FA, and while I respect, admire, and appreciate the balance sheet analysis I've found on this most excellent thread, what I find absolutely objective is price and volume. For whatever reasons, the market doesn't love BNGO as we do--at least not lately. That may change Dec. 23, and if I can help restore BNGO with my few remaining dollars, I will. But like Scott (forgive me if I'm misreading you, S), I can't help but wonder if this decline involves more than the warrants and shorting. In all likelihood it does not, but all I can know for certain is price and volume, and they ain't looking pretty. Therefore I think I'll wait a bit. Incidentally, I feel for those who've been hurt by the warrant call, and I understand their readiness to let the warrants expire valueless. Lots of us have suffered wounds to both our finances and--still more painful!--our pride. In a phrase, we goofed. At any rate that's how I feel about current events. When BNGO didn't budge after the call and earnings announcements, there was a window to sell. It was wide open, and I didn't go through it. That was boneheaded of me. It was a mistake. So when I think about AB&G management, annoyed as I am with them, I can't really blame them for my part in this episode, i.e., not selling soon enough. Don't get me wrong: I think they made a big mistake in their handling of the warrant call, and it hurt the shareholders, among whom I include the warrant holders. But I made a mistake too. That's why I'm willing to give them the benefit of the doubt, though I admit I've found myself wondering at times if anything underhanded was going on. Of course I don't know, but I'm inclined to think not. Coming out of this, I've gotten first-hand experience with an old saw of Wall Street: don't argue with the tape, and don't fall in love with a stock. Too true. That said, I do think this will turn around. The nice thing about the market is, around the week of Dec. 22, we'll all see, won't we? As Crazy Jane said, "All could be known or shown / If time were but gone." Cheers, friends. J