all about ELBO which is Electronic Boutique
Holdings and here it is:
P. S. I added quite a few
more shares of ELBO (Electronic Boutique) today. ELBO
is the largest electronic game retailer in the world
with retail locations throughout the entire U. S.,
Canada, Puerto Rico, Ireland, UK, now Sweden, Australia,
Korea and I understand just moving into New Zealand.
It's selling about 12 X earnings and was a $ 14 IPO on
7/28/98 and at a close of 13 3/4, it's under water which
I believe has caused folks, with the market
exploding, to toss the towel in on ELBO and move on to what
they think is greener pastures elsewhere. What is
their obvious loss will become my gain. I invite you to
visit the ELBO board, review the press releases, scroll
through the posts and basically do your own DD. Don't
blindly follow my lead. I think you will like what you
read. ELBO has peaked during this past year at 25 3/4
and was as low as the mid 6's shortly after their IPO
last year. ELBO closed at 13 3/4, just 1/4 higher than
the low for this week. I believe ELBO traded in the
high 15's earlier this week.
Took it out of PSUN and into ANF.....Looks like I
did it just in time!!
The Gap is history soon as
ANF takes their spot..I don't wear either, but the
kids do and I'll take their money thank-you :)
I'm not bearish on this stock, in fact, i love
it. The fact of the matter is that at +/- $20, the
valuation story on this stock is compelling. At current
levels, not as exciting. Remember, folks, this is an
apparel retailer and subject to rapid selloffs! The good
news is now behind us (for the quarter). I sold off
2/3rds of my position... will be able to buy back in
upon pullbacks. The remaining 1/3 will stay as this
company is an excellent long term hold, but quite
volatile in the short run.
Long term VANS is a better play
with far greater upwards movement possible then PSUN.
With the PSUN/VANS line soon to go into the VANS
stores, means more to VANS bottom line then
Stakeboard park of VANS doing better then
STILL PSUN is a great company !!!!
but it is frustrating to watch this. Most of my
stocks are techs, so my (limited) experience is with
that sort of movement (much to my horror, at
times!!!). I will stay the course, as was once fashionable
to say, and I do expect to do ok long term. One of
the lessons I have begun to learn is the value of
patience. Better late than never.
We're up a bit
today, which is also nice.