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Echelon Corporation (ELON) Message Board

  • johnmr12 johnmr12 Jun 15, 2007 7:20 PM Flag

    The folks at ELON have been busy

    I bought stock in ELON for my father's online account about 5 years ago. I think I paid between $8-$12 a share, buying on dips. The problem at the time was a lack of new contracts, so the dips kept dipping. Back then, I was day trading out of my own account, so I was monitoring the stock market daily. One day I had an epiphany, and, without boring you with details, I sold all of my stocks and closed my account, and have not looked at the market since. The other day, my father called me, wanting to know what was going on over at Echelon. I knew I had heard that name before, but I couldn't remember where (Another in a long list of aging signs). When he refreshed my memory, he then told me the last statement that he got from the brokerage showed the stock price had gone up quite a bit recently. So, I got online and did a little research. Obviously, I am way behind the curve, having been out of the picture for about 4 years now, but I did some speed reading, and tried to absorb as much as possible so I could somewhat intelligently inform my father as to the reasons for the rise in price. I have to say, if anyone is a buy and hold type investor, this stock appears to be a BIG winner in the next 2 years. Even if you just want to hold for 12 months to avoid short term capital gains taxes, I still think it's a winner. If you're in for longer than a week or two, don't let the small corrections scare you. There will always be profit takers and short players. In fact, when the short players show up, you know you have arrived. This stock has a relatively small float, and when the big boys on wall street all discover it, that float will disappear quickly, and the shorts will have some very frightening days ahead. I'm not knocking it, I used to do it myself. It is definitely a rush of adrenaline, like bungee jumping. And you don't have to get angry with shorts either, because when they sell short in volume large enough to cause a temporary dip, the buy to cover creates an over bought condition, which snaps the price up to where it would have been had they not suppressed it in the first place. Kind of like a bungee cord. lol My guess is that most of you who post on message boards regularly are not long term investors (buy and hold for years), but if you are, stay focused on the long term trends of the company itself, not on whether the price reaches $19 by the close on friday. Take care.

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