Thursday, May 05, 2005


My apologies to UTSI shareholders

You see, I was contemplating selling my 1000 shares of UTSI today after the stock rallied nicely in advance of the earnings release. Of course, I got greedy and decided to hold my shares in hope that the numbers would be good. Had I sold, the stock would have rallied 20 percent. Unfortunately for UTSI shareholders, I held on, and sure enough, the numbers sucked and the stock fell 30 percent in afterhours, leaving me and other UTSI shareholders with a big fat loss. The upshot is that UTSI's plunge changed my $2000 gain for the day into a $1000 loss. Oh well.

In other news, I sold my shares of JLMC. Though JLMC has a nice balance sheet, the wedding dress maker prospects aren't too great, and ever since it voluntarily delisted, liquidity has almost completely dried up. It's not worth holding anymore. I also sold all my shares of MTSL. I bought them during the dotcom bust when they were trading at less than a dollar. Since then, the stock has risen above $3 but the company's operating performance is still lousy (with today's grim earnings report being the icing on the cake). Again, not worth holding anymore.

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