Just want to reiterate that I'm not harping on you personally...I think you are an honest man trying to make money in companies you believe in. I just hate to see you pull a "breeves" and continue to pound the table on MAGS as it keeps making new 52 week lows. It looks foolish, really.
The stock is down 40% from $12.50 earlier this year. Do you honestly think that is a sign of a company that has "big contracts"..."right around the corner"? Of course it isn't.
Believe it or not, insiders tell friends when to buy a stock...unethical? Absolutely. There has been no buying by anyone this year...not even INSIDERS at these "low levels". What does that tell you? Does that tell you the insiders are excited about the near future? Nope. If they were, they would be buying the crap out of this stock.
Take a look at TIE. Massive insider buying in the low $30's. Now we can talk a different story. The recent walkdown in the stock is a gift for those wanting to get in. FOLLOW THE SMART MONEY...it usually works.
Good luck Ben. MAGS will continue to sell off for the foreseeable future, imo.
Honestly, I like MAGS, but I too am thinking I can get in at lower prices. And normally I wouldn't set a stop, esp if I'm holding for long (avg down of course) but I've thought that there might be some big selling after the CC same tired statements etc. and no real upward movement in a bull market.
But, I'm watching and may pull the trigger anytime. Are you planning on waiting till $5 to cover... haaa haaa. That'd be a nice one & good call.
As some of my other posts suggest, I think there is some big$ finally ready to be spent and I think MAGS will see some.
I didn't short this but I may consider $8 range for a $2 up trade but shit... to be honest... this company needs to kick it into high gear. It's PPS hasn't moved really forever and the I agree OTJ, the story is gettin' old.
Nice short for you so far. Think you'll see $8.50?