To: pavlov 1 who wrote (67 ) 1/10/1998 11:08:00 AM From: Instock Read Replies (2) | Respond to of 137
Pavlov: < GMTC > Noticed that you have an interest in, and looking for a bounce UP, as I am, in GMTC. I have started a thread were anyone with an interest in GMAC can post and share their Thoughts about GMTC.exchange2000.com I beleive the stock was HIT much harder then it needed to be. OverKill for several reasons: The Press Release was a bit confussing to understand and the first draft had some mistakes in it that were corrected after the close. Lately people have been looking for any reason they can to short a stock or sell what they own. The US Markets were at NEAR melt down levels Friday. Friday was a near Record Volume day for the US Markets. In light of the above: I think over the weekend, many will re read the corrected Press Release and Most importantly take note of the companies VERY GOOD Earnings. GMTC's Earnings came in very strong! GMTC cannot be Short Sold at the current price, BUT those who did Short can cover their Short position by BUYING. If and when the price starts to recover some, the Short Sellers will start buying to cover thier position. The Markets will recover, they allways do. We have had a week of strong down trending followed by Fridays Major dumping. When the rebound comes, many stocks like GMTC will become Value Stock plays. Once again, the Short Covering will help boost the price back up. The near record volume in the markets Friday helped make everything move more then normal. When investors saw GMTC dropping, there was a LARGE Supply of people watching and jumping on the band wagon and adding to the move down. IMO: The recovery in the stock price, even if just 15% to 25% ( 30% to 50% if bought on margin )in a very short time frame is very likely. Over a bit longer, short term time frame, GMTC should see apx. a 50% or better return. Long term, it could be a 100% return. Beaten down stocks are GREAT when they bounce and/or recover. Short or Long term! Hope to see you adding your thoughts and comments to the New GMTC Thread. Instock