E-mail MESG.. Got some e-mail about MESG..yes I did see the uptrend and I anticipated (as well as a number of other threaders that MESG was a good stock) I've had 3 stocks in 2 1/2 years that traders have 'chastised me on'.. One was CUST recently, the other was MESG one month ago and MACR (when I went out on a limb).. Not one of these stocks has continued a downtrend and all three have been up in triple digits since then. I like to say the 'proof is in the pudding'.. Anyone who bashes someones , should at least have some 'evidence' of their claim, but they usually disappear.
MESG.. the 'junk' I called just 5 weeks ago more than 110% gain ;-) :
DATE CLOSING PRICE OPEN HIGH LOW VOLUME
-------- ------------- -------- -------- -------- -----------
6/25/1999 18 3/16 17 3/8 18 3/8 16 1/2 677,200
6/24/1999 17 1/8 16 7/16 17 1/4 15 13/16 915,800
6/23/1999 15 15/16 15 15/16 16 7/16 15 1/8 436,600
6/22/1999 15 11/32 14 1/2 16 1/4 14 1/16 1,308,400
6/21/1999 14 1/8 12 5/8 14 1/4 12 1/4 625,000
6/18/1999 11 7/8 11 7/8 12 3/8 11 11/16 122,500
6/17/1999 12 11 3/4 12 1/16 11 11/16 111,200
6/16/1999 11 15/16 12 13/16 13 1/8 11 13/16 224,100
6/15/1999 12 1/4 11 11/16 12 7/8 11 1/2 259,300
6/14/1999 11 5/8 11 15/16 12 3/16 11 5/8 293,600
6/11/1999 11 7/8 13 1/8 13 3/16 11 3/8 638,500
6/10/1999 12 15/16 12 15/16 14 7/16 11 7/8 1,502,500
6/09/1999 11 3/8 10 1/8 11 7/8 10 1/8 518,200
6/08/1999 9 11/16 9 1/8 9 7/8 8 3/4 247,800
6/07/1999 8 13/16 8 1/2 9 1/8 8 5/16 307,600
techstocks.com
CUST as an earnings play on May 11, 1999. Message 9436380
Message 9436708
Here we called it as an earnings play check marketgems.com (click for May 11, then click the down arrow until you get to #9).. We called it twice on the thread as triggering a buy signal, and CUST didn't rest from that day on... So another case 100% gain 10 trading sessions on a 'hype' stock. How do you know that another net stock is better or stronger, since few of them have earnings? Or even those with earnings like VRSN, NSOL and AOL were swept down in May/June with the correction of the nets.
CUST from the day the buy signal was triggered on May 11, 1999.
5/24/1999 76 67 7/8 90 64 9,012,200
5/21/1999 60 15/16 55 5/8 61 13/16 55 1/4 1,101,100
5/20/1999 54 9/16 51 60 50 1/2 1,257,700
5/19/1999 49 7/8 49 50 3/8 47 1/4 592,500
5/18/1999 48 13/32 50 1/8 50 3/8 47 3/16 799,700
5/17/1999 49 9/16 43 1/4 51 3/8 43 1/4 1,522,000
5/14/1999 42 31/32 40 1/2 43 38 690,400
5/13/1999 40 1/16 40 3/4 41 3/4 39 1/2 359,600
5/12/1999 39 7/8 39 40 3/4 36 1/2 560,800
5/11/1999 38 3/8 42 44 38 3/8 1,129,300
I guess some of today's shorters are the same group that shorted my favorite play NTBK.. during the first quarter of 1999. By the way we sold NTBK last week of April, so we are not thick-headed we realize the dangers and risks of CUST, but to go one way is to miss the opportunities for both long and short. The shorters think they cornered the market on good shorts, but I've been buying puts ever since the market began their tank on August 1999 and also called others to 'buy puts' as well. So thank you folks for the unbelievably interesting e-mail during the weekend. The saga of bickering, the animosity and new threads coming up to question the veracity of some people are a glaring witness to certain facts that were hidden to me up until now.
And by the way, most every shorter is a 'nice guy' just like we are, and they are just trying to make a buck just like anyone else. They should not be 'stereotyped ' into a bad image because of some one person with his/her own agenda.
I had a relative once that everyone despised. He was a miser and wouldn't help anyone ever, even though he was extremely wealthy. Every time someone had a 'proposition' to set forth to him, he would say 'no'.. 100% of the time, he would point out the flaws of the reasoning of the project just so he could justify his not contributing. As the law of averages would have it, he was right about 10-20% of the time, and he would take advantage with words like: I told you so, I knew your idea would never work.. it was doomed from the outset. But when the projects DID take off, you never heard a word out this relative. Of course he was lucky to the very end.. He died at 98, a very rich man, and kept all his money with him. However, his family was estranged from him.
The morale is simple: Every play should be judged on its own merit, every net stock as well. There are room for shorts and longs as well
Remember, were it not for the great bull market that we enjoyed for months and months, the shorters would have nothing to short. And of course, there is nothing to prevent us 'longees' from shorting when we deem necessary. |
