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Pro-Dex Inc. Message Board

  • pensivepop pensivepop May 6, 2013 7:26 PM Flag

    An Old-timer speaks--

    Hi everybody, many moons ago I was active in this stock and did just okay because then the volume was decent and there was some liquidity, I follow it still and am anxious to take a small position but a few things scare me. If one acquires a few thousand shares he is already down a good percentage because of the wide spread in the Bid and Ask. Often now I see it at $2 to $2.10 or so and that is a hefty spread as you are down 5% the minute you buy it. The answer of course is buy it and hold it, not trade it. The co. spent a lot of money tooling up in qtr,1 for product sold in the just ended qtr. so look for a pleasant surprise on earnings day. Another plus is the effect of Obamacare which will bring millions of new patients into the medical treatment arena. Best of luck as I try to purchase some shares and join all of you here.

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    • Welcome back!

      I understand your frustration with the bid/ask. Today may be a good day for you to buy. Right now there are 10,000 shares on the ask at $2.02 the bid was just 10,400 shares at $2.00 but someone just dumped a bunch of shares so it's now 700 shares at $2.00. I think some people may be starting to play games shorting the stock right around $2 - but they are foolish doing that, especially with the low float here.

      Though difficult, you need to separate yourself from the bid/ask spread and what it shows in your portfolio - you're not "down" until you sell. On these stocks with poor liquidity, it only takes a couple small buys to move it from a negative to a major positive. So, you need to tell yourself that fighting for the last couple pennies may not be worth it down the road. Will $2.02 or $2.04 really matter when the price range takes a step up to $2.25 or $2.50? That's just the beginning as I am convinced we are going to see the stock at $5 and higher before this is all done.

      What I will also tell you from what I watch - Nick/AO/Cabillot are buying up shares at $2. I've somehow gotten some shares when they dipped into the $1.90's late last week, but I've mostly been accumulating over the past few weeks between $2.01 and $2.10.

      In any case, I think that the dark skies are on the verge of becoming a bit more sunnier.

      • 1 Reply to o08o.ugh64w
      • Good morning uggie(if I may) thanks for the welcome. I did take a position this morning and love to see the volume and as a result of the volume the corresponding narrow spread in the quote. I do slightly disagree with your premise that I am not down when I buy the stock if the spread is fairly wide as this one usually is. It's really not an important factor unless you are a trader and if you are(as I was) then stay away from this stock but it is a premise of mine. I would hope the forthcomings earnings report will serve as a springboard into the $2.25 to $2.50 area fairly quickly. The backlog and other circumstances point in that direction. Good luck to all here

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