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Cashiuus2 [4]

12-Sep-08

COIN - I hope you aren't long on this junk

COIN's fundamentals are one of the worst I've ever seen. This company has SO MUCH potential, they've seen some impressive press releases about their product, but the company is completely mismanaged. For earnings Q2 this year, they have managed to have -$6.14 million in net income, that's lower than their entire 2007 annual net income! (-$4.08 million). In line with this regression, their operating income is reversing as well.

Meanwhile the stock is the highest it's been since May 18th, it's completely overbought and on a 5-day rise. There have been 2 major price advances this past month without ever settling to form a solid base. Stocks without solid bases, especially ones with shitty fundamentals, FAIL, they don't continue, they crack, get weak and fold. COIN's time is nearing an end and I see them diving to their support around $6. Anyone care for a nice $2.50/share profit?

I expect to short this on Monday and sell it Tues. I'd hold it longer, but www.shortsqueeze.com shows likelihood of this being a max 2-day hold before a required cover. I'd rather choose the price to cover than for them to choose it for me, thanks.

Tagged Stocks: COIN

Posted at 15:57 in Watchlist Ideas | Permalink | Comments () | Top

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Blog Post

Cashiuus2 [4]

12-Sep-08

COIN - I hope you aren't long on this junk

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