Tuesday, January 25, 2005
I hate Travelzoo
I should have known better than to equate Travelzoo with the Planet of the Apes in yesterday's post. You see, in the sequel to the Planet of the Apes, the apes rise again. And that's just what happened today. Stupid stupid TZOO went up 10 percent.
Travelzoo is the stock market's equivalent of William Hung: anyone with any sense knows he can't sing, yet there he is, absorbing the limelight, well past his 15 minutes of fame. Ahh... perhaps I'm being too harsh. I did, after all, present a theoretical example in an earlier post of why it may be profitable for investors to buy a stock even when everyone agrees that the stock is overvalued. Still, I hardly suspect that too many people are buying TZOO because of some sophisticated trading argument. These sad folk are bagholders plain and simple, and sooner or later they will pay the price for their ignorance. As far as I'm concerned, hopefully sooner rather than later.
Anway, due to TZOO and dips in GTSI and MRM (two of my largest holdings), my portfolio was down $460 today.
Travelzoo is the stock market's equivalent of William Hung: anyone with any sense knows he can't sing, yet there he is, absorbing the limelight, well past his 15 minutes of fame. Ahh... perhaps I'm being too harsh. I did, after all, present a theoretical example in an earlier post of why it may be profitable for investors to buy a stock even when everyone agrees that the stock is overvalued. Still, I hardly suspect that too many people are buying TZOO because of some sophisticated trading argument. These sad folk are bagholders plain and simple, and sooner or later they will pay the price for their ignorance. As far as I'm concerned, hopefully sooner rather than later.
Anway, due to TZOO and dips in GTSI and MRM (two of my largest holdings), my portfolio was down $460 today.
# posted by Stockcoach @ 8:34 PM 
Comments:
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Clearly, TZOO's move today was just a dead count bounce. Look at the charts... it's been a falling knife, down from $105 to $54 in a very short period of time.
I don't think that this thing moving to $60 is a sign of anything other than some short covering/profit taking.
It's still dead.
I don't think that this thing moving to $60 is a sign of anything other than some short covering/profit taking.
It's still dead.
# posted by 
: 10:25 PM, January 25, 2005
: 10:25 PM, January 25, 2005
Yeah, TravelZoo is like Sirius. It is like beating on a balloon. The thing just keeps bouncing up. It needs a sharp pointed pin rather than a beating.
Too bad I couldnt find shares to short when it was at $80. E*Trade had nothing.
I actually had 2 days of positive gains. Amazing.. still down. I made a MAJOR error in selling COP when it was at $88 and the market red with pain. Man.. should have kept it a few more days.
Also made a bad call on E*Trade. Cant believe they had such a crummy quarter.
Seems stocks are flying around like crazy and probably best environment for day-traders. No more money to buy so just waiting for now. Last several weeks, it seemed it wouldnt have been too difficult making money just by reading up to the minute news headlines on earnings reports, etc.
Scott
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Too bad I couldnt find shares to short when it was at $80. E*Trade had nothing.
I actually had 2 days of positive gains. Amazing.. still down. I made a MAJOR error in selling COP when it was at $88 and the market red with pain. Man.. should have kept it a few more days.
Also made a bad call on E*Trade. Cant believe they had such a crummy quarter.
Seems stocks are flying around like crazy and probably best environment for day-traders. No more money to buy so just waiting for now. Last several weeks, it seemed it wouldnt have been too difficult making money just by reading up to the minute news headlines on earnings reports, etc.
Scott
# posted by : 4:13 PM, January 26, 2005
: 4:13 PM, January 26, 2005 << Home
