Tuesday, August 16, 2005

 

SMTX saves the day

What a horrendous tape! Luckily, SMTX went up nicely today, which helped to limit my losses for the day to $500 (yesterday my portfolio gained $400). Now that the market is showing weakness, some of the stocks on my watch list are starting to come in, so I hope to be able to start some new positions soon, and possibly add to some existing positions that have not held up well.

I find it amusing to read the message boards after a stock has gone down. Case in point: Dicks Sporting Group(DKS). Cramer recommended it yesterday just hours before the company reported not so great numbers. The stock sold off 15 percent. It never ceases to amaze me that those people who bought yesterday in afterhours when Cramer was recommending the stock now blame Cramer for their losses. Had the stock gone up, they would have praised themselves for having the insight to buy. Anyway, on today's show, Cramer reiterated that he still likes Dicks. Personally, I prefer the products in Victoria's Secret.

Comments:
Why did SMTX make all its gains for the day (42%) by 1:30 in the afternoon when it didn't release its earnings report on the wire until 4:30 pm. I use yahoo for my earnings report. This reminds me of the old days back in 2000 when the stock would go up well before the earnings release to the small investor. Was there a leak? I thought this sort of thing was outlawed in 2001? Big O
 
I'm not sure which site you were using. On Yahoo Finance the press
release was displayed at 4:30 yesterday, not today.
 
Wow, this makes me angry as hell. I just covered SMTX for my blog a few days ago (www.investmicro.com), but I didn't have any holdings in it because I was in the middle of changing from E-Trade to Ameritrade.
 
Duh! I looked at the co. Tue. night and I didn't notice the release was from the previous day. I guess the next question is why it took until late morning for the stock to go up? Is that the way it is with these micro caps, huge double digit gains on good news. Your'e investing style is absolutely amazing and keep up the good work!
 
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