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Hughes Electronics Corp. (GMH) Message Board

  • gmhsell gmhsell Nov 1, 2000 2:10 PM Flag

    Hey Smokey who is the fool now?

    Long sucks! The shorts like me win again.

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    • I stand corrected. Thank you.

    • I have a little story to tell you which may shut
      you up for good. A close business associate of mine
      shorted 5,000 shares of Honeywell (HON) in August. He had
      heard rumors from his broker that HON would miss 3rd
      quarter estimates and the stock would fall to the
      twenties. He was very cocky when the stock fell to $33 and
      looked like it was breaking down. He was up $7500.00,
      but he refused to cover the short. 2 weeks ago a
      little company called GENERAL ELECTRIC made an after
      hours bid for HON and the stock is now $54.00 and my
      friend had to get an $80,000.00 home equity loan to
      cover his HUGE margin call. He ended up getting "bought
      in" by his broker at $52.50 because he could not get
      the money in time to meet the margin call. In my
      opinion, anyone short GMH right now is an IGNORANT FOOL! A
      bid for GMH in the $50's is very REALISTIC at ANY
      TIME. I hope you have the staying power to cover a
      margin call, should that happen. My friend didn't and it
      wiped him out, period!

      • 1 Reply to dbrewerm
      • dbrewerm,

        First off I've made a 55% gain
        since January 3rd of this year when it's actually down
        11% if
        I wouldn't of bought and sold. That's a
        66% difference. Even if I should happen to miss a day
        I seriously doubt, No I guarantee GMH would never
        go up that much in one day. However I am aware of
        the risks involved in buying and selling, but I got
        to tell you since the market has changed
        dramatically with Day trading it is a different picture. I
        feel in a much safer place knowing the ups and downs
        of this crazy market. Yes in your opinion I might be
        an ignorant fool but my philosophy has made me some
        goo money this year.
        I am aware when earnings are
        coming out, I am aware of potential sales and mergers
        etc. I stay informed about this stuff.
        From what
        I've learned about GMH and a lot of brokers have
        reflected the same theory is that until the GM Board
        decided to sell/spin DTV as a separate entity this stock
        is a floating duck. Now a friendly piece of advice
        to you "GMH is going nowhere fast until DTV is not
        tied to GM" That my friend is reality.
        I could take
        being called an ignorant fool because I have proven you
        people wrong all year.

        Believe me I'll be there
        when GM is serious about DTV, I'll be making the money
        with you.

        I'll be in touch. The fool with a 55%
        gain in an -11% year. Who's the fool?