|To: Reno Frazzitta who wrote (597)||8/6/1997 12:27:00 PM|
|From: Fred Puppet|
Yes Reno, I'm short at 10 7/8.|
Why are people paying $10 today when they could have bought all they wanted for $5 only a month ago? Either these people have never previously heard about ACCL, or they didn't know about new products in the pipeline. The flurry of press releases ensures that people now know about products. The sharp jump in price ensures that momentum speculators now know about the stock. Who is it that doesn't want to buy today at $10, but will pay $20 next month? Nobody.
These SI threads are excellent contrary indicators. When everyone is bullish, when there are only blue skies ahead, when we're heading to infinity and beyond, then everyone has bought. I'm not trying to time the top, just to get in before the fall. Once the fall starts, then all of the momentum people will bail. They can sell on a downtick but I can't. We may not be at the top, but I don't see much upside.
ACCL is a fine stock, and at $5 was a great buy. That's how you make real money; buy when it's out of favor, buy when many people have not heard about the company, or buy when people have doubts about future sales or products. Buy the rumor, sell the news. The smart money that bought at $5 is selling now. Do you recommend that SI readers should buy at $10? To whom will they sell the shares?
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