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General Employment Enterprises Inc. Message Board

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  • garsch garsch Feb 11, 1998 4:02 AM Flag

    JOB - A 1998 AAII Shadow Stock

    Perhaps the bozo to whom you're referring is the market maker for JOB? In the absence of an even number of buyers and
    sellers of shares, the market maker's job is to create the balance - ie, buying shares when there are no buyers, and selling when
    there are no sellers. Since market makers aren't known for keeping positions in stocks overnight, and given that JOB is thinly
    traded, perhaps the selling you're noticing is that of the market maker getting rid of his/her position at the end of the day.

    If that were the case, he's not likely to run out of shares, eh? :-)

    garsch

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    • Dave and Garsch,
      Thanks for the info and ideas about the mystery seller. Based on what you guys pieced together, the only conclusion I can reach is that an institution believes that it can do better elsewhere with the cash and is gradually dumping everytime the P/E rises about 25. Maybe they believe they have a lot to burn and will not be getting out of it totally.

      I am not buying more because of the action, although if this pattern continues the day traders could make a nice buck following Mystery Seller. I still believe that JOB will see this steady 22-25% growth and occasionally I like to have something I can tuck away for the long term without constantly monitoring. Hopefully, the Imhoff board will not give us any surprises like an off-the-wall acquisition or massive issuance of extra stock.


      PS. --- Dave, I still have CHSE although I am on the fence in the foggy gray never never land now. Trying to guess if there is another 20% or gratefully take what I have now and forget about it even though the imminent earnings report may give it a surge (or a dumping). One of those "will I take a soaking or do the soaking" situations.

 
JOB
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