Tuesday, February 13, 2007

Secondary Offerings

Secondary offerings have cost me more money than any other useless management scam ever perpetrated on the unsuspecting trader. I'd rather they backdated options - at least that doesn't have the effect of "company is going to sell 100K shares and "selected shareholders" are going to be allowed to sell 5 million". Wonder who they are? As I said a backdated options scam is less painful than this crap.

OK - I lost 75 cents on the bet today - that gives me a two day net of 0 including commissions - I should consider myself lucky I suppose - I actually had a profit in my account for 24 hours and then I got greedy. The rule is simple - don't try to drink from the well twice in one day - you will always gag on the second drink - always.

It's only good to be management folks - no one else stands a chance.


Bullish Jim said...

LQDT getting hammered.


More shares means delution.