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Magal Security Systems (MAGS) Message Board

economidas 3 posts  |  Last Activity: Dec 12, 2014 7:04 AM Member since: Jan 10, 1999
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  • With yesterday's action, we broke strong support & should probably test & find support in the low 12s. Faint of heart & non-believers will add to the sell off coupled with tax loss selling. Without anything positive from the company (I doubt we will hear anything), the remainder of the month looks weak for share price.

  • Reply to

    Price

    by royb123 Oct 30, 2014 7:40 PM
    economidas economidas Oct 30, 2014 8:03 PM Flag

    Today's action seems overdone considering the numbers & guidance. deMasi may have gotten bit on the #$%$ if he thought he could outsmart the street by low balling the guidance numbers, knowing he will beat those numbers. Remember 1/3 of the next quarter is in already.

    Technically, we took a major hit & we may be probing lower; say, 2.90 or so. The question for me is how long will this be dead money? If it rebounds in 6 months, I would opt to wait, remembering that it's not an investment loss unless I sell, & at this juncture I'm choosing to hold.

    I would like to see the company announce it will buy back 5 million shares. I think long term it would be a sound decision & send a muted vote of confidence to its shareholders.

  • deMasi keeps beating the drum & giving such rosy forecasts, let's get the BOD to buy back some of the 90 million+ shares. You would think it's a good corporate financial decision, no??

MAGS
4.81+0.09(+1.91%)9:52 AMEST

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