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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Rock who wrote (4380)	7/7/1998 7:10:00 PM
From: James Clarke	Respond to of 78745

You could be right, in which case there are a lot of happy people on this thread. 19,000 shares traded today, though, telling me that we will have somebody else to sell to when we get to our price. I don't like that manipulation word - I bent over backwards to give a responsible analysis and give the sources to check my facts. On other threads the pitch would have read "CHECK OUT PSO - ITS GONNA DOUBLE - GET IN NOW!!!" I don't play that game. Jim

To: Rock who wrote (4380)	7/7/1998 9:46:00 PM
From: Michael Burry	Respond to of 78745

Re: PSO I would view it more from an "event trading" perspective. When I traded futures I learned that for all the second by second analysis and intense trading, it still often took a few days for surprise news to really sink into the price of the commodity. In stocks, I've noticed the same thing, except the less liquid the longer it takes to move. When the awesome earnings came out, I plunged back in for more shares at 6 3/4 even though it didn't jump because I expected a near term response if not an immediate one. In stocks, I tend to attribute it to the fact that the same few massive screening databases are often updated weekly, and many individual investors (the only ones that invest in true microcap values anymore -g-) don't even recheck their screens but every few weeks to months for new ideas. Re: manipulation, on a value thread that - out of necessity in this market - "touts" many microcaps, it is a concern. But in reality I think all the long-term participants here know that even what seems like the best idea in the world to two or three of us is panned by another two or three of us. Check the discussion surrounding his initial mention of PSO or TRC, or my mention of HYDEA. Moreover, we know that this thread does not move mountains, even for an 8 million market cap. However knowledgeable some here are, it doesn't appear that anyone piles into any of the ideas here in what the Street would consider a big way. I think James has had about the best timing on the thread in terms of the ideas he brings up, but I wouldn't attribute it to us mimicking him, even for an ultramicrocap, or microcrap as the case may be. This reticence benefits the thread IMO, as it gives many of us here a significant timeframe for evaluationg new ideas. Good Investing, Mike