I noticed yesterday that yahoo didn't show a
trade lower than 4 5/8ths yesterday. They did show the
high volume though. Now yahoo doesn't show the high
volume at all!! The same is now true quote.com also!!!
This gives added credience that these now nonexistent
trades were short covering transactions and they should
show up in the future in a decreased outstanding short
position for the month of October. Time will tell if my
assumptions are right or wrong. skep
Well Griff your guess that the high volume
Tuesday could be due to margin calls certainly makes
sense on a stock price basis However, yesterday we had
even higher volume and the stock price is still
steadyish. If we were getting longs squeezed out by margin
calls there should be panic selling(lots of small
trades at an ever decreasing price).
happen on Tuesday or Friday. I saw the individual trades
logged on Quote.com on Friday; 12:13:16 p.m. 268,500
shares at 4 3/8ths ; 12:13:39 p.m. 100,000 shares at 4
3/8ths ; 12:14:01 p.m. 368,000 shares at 4 1/2. These 3
trades accounted for most of yesterdays volume(by far).
I don't think that they can be explained as margin
calls, but I am open to your suggestions.
to me a more plausible explaination is either a
block buy/sell combination by large holders(mutual
funds) or a short covering transaction by whomever has
been holding the large short position in ITRI for a
couple of years now.
Seeing how I'm long, I tend
to hope the latter is true. The short position has
started to decrease
and possibly this last few days unusual trading
activity is a continuation of this trend(once again, my
Anyway, I asked this
question once before, Has the knife finally stop falling?
Last time I didn't offer a answer. This time I suggest
the answer is yes. The bottom was reached a week and
a half ago(10/07/98) when there was some true panic
selling(many small trades, at ever decreasing prices with a
small rebound at the close). There were 121,600 shares
traded that day, around 3 times the preceding daily
The next couple of months short interst data will
tell the tale. It seems like its always difficult to
know when to take a profit on a trade, whether long or
You seem to be a trader, what's going on? 400,000
shares traded of this normally low volume stock and the
price seems to be steadyish. Could some of those long
term shorts be coming out? I have no idea, just
I too rode this up to $56 and back down. I got
out and back in in the low 20s only to get burned
again. The last cycle I got smart and shorted at $26. I
am net profitable, but not by much.
company has a great story...except they can't make any
damn money...and that's what it is all about, isn't
it? Is it management? Or won't the frugal utilities
pay the necessary price? We won't know the answer to
that unless management is changed, and they seem VERY
slow to do that.
This turkey will continue to
head lower until management is changed. BTW, it won't
rally on news of a big order. The Street is tired of
hype. They need to deliver EARNINGS, not orders.
Even Itausam will agree that they are trying to
go with the products that got them to $50. The
downturn began when the competitors started turning out
products that were beyond Itron's. I, for one, am out.
sorry to hear that. dang! live and learn. i have
this seems to defy reason. the company
has good revenue, just
not so hot earnings. the
technology seems like something whose
time has come. and
yet, the market doesnt seem to be awakened
utilities are a hard sell.
will it happen someday?
i'd say likelier than not. will
itron be around?
also, likelier than not. two things
1. sometimes a company can have great products and
be a bit
ahead of its time. just enough ahead to
actually fail in the
2. $2/shr is a
tough road to hoe. i have to say i've never
stock hit that sort of number and recover. oh,
try; the price dances and shimmers but its usually
sometimes management even succeeds in
confirming the death
throes by reverse splitting. its a
long painful ride, but
eventually there's the
inevitable contested argument with nasdaq
usually culminating in eviction to pink
there's no return from pink sheets once you've been in
i'm sorry to say its
curtains if the dreaded $2 rears its
One of the first rules of investing is never fall
in love with a stock. I broke that one big time! I
have rode this one up to $50 and all the way back
down! Each time I think it has hit bottom I have
increased my position only to watch it slide again. You may
be right about the $2.00, after all you did predict
a slide to $5.00.
I still think Itron
stands to gain when more and more utilities deregulate.
It is for that reason I am still increasing my
position in this stock. Itron will emerge a winner! I have
a number of years before retirement, so I am going
to hang on and go for the ride on this one. Am I a
stupid or a wise investor? Who the hell knows. Today I
maybe a bum, but tomorrow I could be a wise old
I will still have faith even if it slides to $2.00.
they tried to put a positive spin on the future
of things but
the loss is greater than expected
(.15) for the quarter.
itron investors have a
history of taking things on the chin;
wonder if a bid
for $3 1/2 has a chance of hitting...
...look a little bit lower....
So at $5.50
a share today, exactly when will that day be
we wake up to find ITRI gapping up to $14? My gosh,
is starting to fall down to Cellnet
territory. How undignified.
Date: Aug 10 1998
> 11:57PM EDT
like your short has stalled out. You are going to wake
>one day soon and ITRI will gap up to 14 at open and
>chicken shit shorting party, greedy