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.

Technology Stocks : Midway Games - MWY -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (46)	5/21/1998 7:49:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 278

Yeah, that's where the technical analyst in me (the one that traded futures a few years ago) conflicts with the fundamental analyst in me (the one that runs a value investing web site and makes part of a living writing value investing articles). Technically, I should not have entered a market order with the stock down nearly four and the RT quote at 12 1/8 just a few seconds after trading opened. I should wait for the double bottom, run from the falling knife. But fundamentally (the part that rules me now), I couldn't resist. It became a value stock at those levels. And a value stock with a franchise and a good business model and no debt. Also, I know the marketmakers are in it to make money. They delayed the opening to figure out a price that would absorb the trade imbalance. But they wanted it to be a price with bounce. IOW, they wanted to absorb all 600,000 shares that traded in the first few moments at a ridiculous price. And they chose 12. I thought it was a good choice. Hopefully, it will move lower as the excitement dies down (as these things usually do) and I'll be able to pick up more. Good Investing, Mike