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Magal Security Systems Ltd. Message Board

  • Donjean2 Donjean2 Nov 13, 2001 9:48 AM Flag

    Sold out

    The tape speaks louder than all words and it says this stock is under tremendous selling pressure. Sold out and re-invested elsewhere. May re-enter downstream.

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    • MAGS definitely saw interest around $7 when the volume really picked up late in the day. It`s a table pounding buy in my book. Obviously others thought so too.

      What happened before that was small investor flight on low volume. The selloff was not justified so it should be over.

    • Thinly traded stocks are so much fun, aren't they? *sigh* I watch a lot. Some that trade only 10,000 shares a day or less (DAVE sometimes)

      Remember when they were pulling the same stunts on KM over a year ago? Now that I know better, I understand why people were so pissed.

      On the volume, there was a fair number of shares traded on the drop, IMHO. But, obviously, MAGS didn't have capitulation today despite hitting the lowest point since 9/11. I'm guessing there were some stops taken out today.

      Even though I'm sure you're fine on the longer term, I'm still going to wait and see short-term if the gap gets filled. I almost pulled the trigger under $7, but it's just too big for me. I think a lot of the flaky "herd" and mo-mo traders who jumped on because of 9/11 will be prone to panic sell just as irrationally as they bought in.

      FWIW, I almost bought more DAVE today under $7 too, but didn't.


    • This is not a rush for the exits Jon. Look at the volume. These are small trades at the market and the market maker is raping everyone.

      Example. I just bought some using a limit order. The spread was $7.33-$7.50. I put in a generous limit buy at $7.40 The bastard market maket instantly raised the bid to $7.43 and ignored my order !

      About 10 minutes later some fool put a market sell order and my order was filled in betwwen the new bid/ask.

      Small trades and light volume selloffs like this are almost always an opportunity. I don`t know if I`ll buy more. I can hold for the long haul because MAGS is cheap and earnings are solid and growing.

      I`m not afraid of being down a little while.

    • Good luck to you with your future investments.
      Hope to see you back with us soon.

      Speaking of tapes, there is another tape which plays the findings of an economist from the Univ. of California. He calculated the damage to the US economy since Sep 11th 'till today. He didn't supply future analysis and, note this, didn't include the losses in the stock markets. He just calculated the direct and indirect impact the events had on the US economy till now. His calculations included decreases in sales, advertising, flight and travel, productiveness, expenses on security approved so far...

      His bottom line was $100 Billion. Again, that's TILL NOW.

      All the best,


      • 1 Reply to dont_sell_yet
      • Did buy back in after the news releases which really didn't say anything more than what has been expressed on this board. The statments did reflect inquiries from companies but not signed contracts to allow optimistic statements to be made.

        The accident of the latest airplane disaster also leaves me confused since the break up doesn't make any sense. Gephart the minority leader of the house did lambasting airport security but his comments do not reflect an overall deffiency in overall security of airports. There are too many leaks in airport security without a perimeter safeguard. I did work for a high security defense company and security was maintained with a physical fence with guards and secured entrances. What does Magal really offer beyond that since anyone can build fences, install gates etc?

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