we are Mexican Investment Club. Como estas? we are not associated with the GIC. we have been to germany. Please don't beleive a word we say. we are still just watching. we will buy a few dozen shares when the time is right. we think 8X8 will become a part of a bigger burrito soon. okay bye
Ignoring the volatility, I think we would all agree that the stock turned the corner back on September first, after bottoming at 1 3/4. Since then it's been a steady but volatile climb. As of 6/4 (before the recent little runup) the stock was holding a base of 4 1/2. So, since September 1, that's up 157%.
Let's compare that to some of the bellweathers over the same time period: CSCO: up $174% LU: up 121% MSFT: up 90% INTC: up 57% IBM: up 98%
Yep. Had you bought all of these in addition to EGHT on that dark day last summer, only CSCO would have outperformed it since then, and that only barely.
Hey NNup, how has your portfolio done since then? Bet it hasn't outperformed this "shit stock" all use losers are following.
Notice how after each little pop EGHT comes down a little less than it did after the previous pop? The support level continues to rise. Look at the chart. The price bounces off support at $2.25 on 10/14/98, $2.7 on 11/24/98, $3.70 on 3/29/99, $4.30 on 5/17/99, and $4.50 last week. This is a 9-month trend -- long enough that I feel safe in attaching some significance to it. As in more buy interest than sell interest for nine months. If we simply maintain this level of interest, support will be at about $9.00 in September 2000....
EGHT's stock is like a balloon with a little pinhole in it. Every once in awhile somebody (GIC??) all the sudden comes along and puffs in a little air. Then it slowwwwwwwly leaks out. The puffs seem to be coming more and more frequently; the balloon is getting bigger.
That's about as far as I want to take that analogy...