Going short might work out for you, but you do realize that you are just gambling, don't you? It your losess on 1000 shares dropping to $52 caused you such finacial damage, then you are obviously in no financial postion to take the risk by going short on 1000 shares. What were you planning to to if Lucent had unveiled a big surpise and popped up $10, kill yourself? IMO, if you're an investor instead of a gambler you are much better off with a long term strategy instead of tring to time day to day price. And when you buy, or short if you must, you should know exacly what you will do it the price goes up or if it goes down. You might win on your current bet, but the way that you are going you are a perfect candidate for a future bankruptcy and suicide.
comments you have made. I am not a Nevada gambler, so I try to get my arms around LU, as a long term investor. Totally new here, though I got an EE degree when they taught about Siemens stepper switches (�..and last year the transistor was invented�). Not much use as I built Oxygen plants for many years and then became a beancounter (actually ran a holding company). I was only briefly a production engineer in a radio tube plant (!).
Where would I best read up about Lucent ? I tried the initial S-1 and couldn�t even find �Western Electric� - tells you how much attention I paid. I take it, Lucent sells hardware. WE was renamed and is part of LU ?
You are right, except for the very top insiders, it�s very hard to judge what is coming. Are they up to competing with the likes of Chambers ?
Very important IMHO is the culture, the spirit inside the company and you really turned me on with your comment in # 73366
>>I would work there even if I didn't need the money. <<
So, please let me know if you have any suggestions about reading. I do have a good BS alarm system.
Given the choice between suicide or bankrupcy, which fate would those on this board choose for Jamison (see related post by luengineer)? No, not playing into the petty crap posted here, just food for thought and a chance to beat up on the mentally unbalanced. Cruel, but somehow delighful.
now isn't it? The fact is LU lost and I won! I am going to make a lot of money off these short shares tomorrow. The only question is will I cover in the 40's or in the 30's. I am guessing the 30's. For all your ridicule, all my decisions on this stock, such as trading LU for CSCO, selling LU, and shorting LU have been proved correct. In the end, results are the only thing that count. If your beloved CEO had kept that in mind, perhaps you and the other shareholders would not be faced with the hell that you are about to enter. I really do feel sorry for the employees of LU Microelectronics because I think that is a real kick ass division with top notch products and good people. Well, the good people won't be staying IMHO. Best of luck to you.