Tuesday, February 07, 2006
The dumb money shifts west
Up $1,600 yesterday but down $1,400 today. The irrationial euphoria over smallcap Chinese stocks has spread west to India. Where will the dumb money move next? Central and Eastern Europe seem like plausible destinations. So in the hopes of staying one step ahead of hyperactive daytraders, I picked up 2000 shares of EWEB, traditionally a favorite target of the pump and dump crowd. Even if I am wrong, I figure the downside is limited since EWEB has decent fundamentals, and after the implending sale of their ISP business, should have $5 per share in cash on hand. Not bad for a $3.50 stock.
coach - theyre not going to distribute the cash. Hearing its being used for an acquisition. Hence the discountPost a Comment