today's decision from congress is terrible news for MAGS. And before all you terminal longs bash me, I am just a trader, have been both long and short MAGS, currently just a small short position. I will add to it, though, tomorrow.
>>>MAGS will not be affected long term, however, in the short-term<<<
This news came out at about 3:00 today. MAGS dropped about $.50 thereafter. I agree it will hurt "very" short term (penalty may have already been assesed). In the long term MAGS will do just fine...as you said...the US loves Israel.
The companies most affected (outside of ACN) will be IDNX and VISG (the major benefactors/subcontracters for US VISIT)...and they were only down about 2% or so today.
>>>The next building that gets hit by a plane should be the capitol.<<<
Well that's not right...but I know what you mean. Maybe terrorists will hijack the plane that is carrying Reagans body back to CA and crash it into the White House. That's even MORE not right...just some sick humor.
LOL that's wonderful that they do business in 90 countries, but the biggest country with the biggest budget won't be sending them any business worth mentioning.
I am not saying MAGS isn't a decent little company, but a lot of the hype in the stock was based on big US contracts coming in, and that is not going to happen now.
That decision doesn't affect subcontractors using MAGS. AS per Mags announcement:
One of the largest United States defense contractors, placed an order for Perimitrax, a buried cable intrusion detection sensor technology, and StarNet, a security monitoring and control system, valued at more than US$580,000. This order was issued under the United States Army's Integrated Base Defense Security System (IBDSS) contract.
Mags has the GOODS!!
As I've said, they will pick up scraps along the way, but won't get anything big and worthwhile.
You can spin it any way you want and try to convince yourself what congress said won't matter, but it is terrible news for MAGS.