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Lee Enterprises, Incorporated Message Board

  • longtimefollower longtimefollower May 18, 2013 1:18 PM Flag

    Highest trading price in the last 2 years is $1.81.

    Yes, I'm still short (at $1.61). And yes, the buying interest, and volume, the last few days has impressed me. So I'm quaking in my boots a bit. Just glad I was able to close out 15% of the position, the same day, with an 8-9 cent gain.

    We've climbed 45% from a month ago, while MNI is up 15%, and GCI is up less than 10%.

    Plus, volume has been quite heavy on the buy side....such that if that buyer should stop, we very readily could go back to the low $1.60's, or even lower.

    But, conceptually, I'm looking at this as a "failed short," at this point, but thinking I still have a good chance at salvaging a break even, since I think it more likely than not that the buyers are going to "give it a breather," rather than continue to "chase" it. We'll see.

    Still love the company, but believe in reversion to the mean, and would personally like to enter this on the long side, now, at $1.40-1.45 or less. (Probably won't retrace below $1.40-1.45 now, at this point, though, I'm thinking, based on all the buying interest were seeing here.....although this buying interest COULD be "hot money"....which could give us a delicious buying opportunity in the future, if the "hot money" gets disappointed on the stock's dropping, and decides to all get out at once. I live for this kind of #$%$.)

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LEE
3.06-0.05(-1.61%)Apr 24 4:02 PMEDT