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QuoteAccording to new short interest data from NYSE, short interest for Systemax Inc (NYSE: SYX) INCREASED 6.0% to 5,824,824 shares for the month ended mid-July, 2007.

Good morning la-onda, thanks for posting this

I guess people like to short SYX because of two factors:

1) Auditors expressed concerns about the company's weak internal controls.

But the company has been working and hiring people to fix this.

2) StockLemon's writing about the company's malpractices with rebates at www.tigerdirect.com.

Most websites that had costumer's complaints about www.tigerdirect.com have dismissed the complaints, because the company reimbursed many people and settled most of the issues.

We've talked about these issues way back on this thread. Unless there are new concerns (like for example, the weak US consumer), I don't think SYX's bears are right.

Technically the stock went down to touch the 50 days SMA support, which has been working well. SYX's pattern is an ascending pattern, which usually breaks on the upside.

Fundamentally, the company just needs to expand net profit margin from 1.92% to 5% to be worth $70 a share in my view. I believe this will be the case. I'll keep holding SYX for the long term.

SYX had a very nice reaction to the 50 days SMA support, rising 3.5% yesterday. I expect the stock to breakout above $22, sooner rather than later.

Brrr, terrible day for SYX, coming back down to the 50 days moving average (again). I also see support at $19.65, given by the ascending trendline on the chart below.

Fundamentally, I've been thinking that online retailers will start to shine, almost as much as people thought they would in late 1999, early 2000

Take a look how Amazon, the biggest online retailer, has been doing.

I'll continue holding SYX.

SYX respected the 50 days SMA support, but I don't know about today, since the general market is setting up to open down big time. Perhaps the stock will touch the ascending triangle support, currently at $19.71 and the claws back up.

Longer term I love the company's business and I expect the stock to rise.

I don't have SYX this time (don't really like Tigerdirect), but PC connection had a real nice report this morn. Maybe bodes well for SYX.   PCCC

Quote from: BigSully1 on July 26, 2007, 10:09:02 AM
I don't have SYX this time (don't really like Tigerdirect), but PC connection had a real nice report this morn. Maybe bodes well for SYX.   PCCC

Hi BigSully1

Why don't you like SYX, because of that onrebate stuff that StockLemon kept referring to? He didn't write anything else about SYX, and most people dismissed their charges. Or is there any other reason? Thanks

SYX held better than most yesterday and closed above its ascending trendline. I expect it to rise from this point on.

Quote from: David Randolph on July 27, 2007, 05:22:25 AM

Quote from: BigSully1 on July 26, 2007, 10:09:02 AM
I don't have SYX this time (don't really like Tigerdirect), but PC connection had a real nice report this morn. Maybe bodes well for SYX.   PCCC

Hi BigSully1

Why don't you like SYX, because of that onrebate stuff that StockLemon kept referring to? He didn't write anything else about SYX, and most people dismissed their charges. Or is there any other reason? Thanks

SYX held better than most yesterday and closed above its ascending trendline. I expect it to rise from this point on.

I really shouldn't have such a negative attitude about Tigerdirect as I never had any personal experience with them. I just go by several friends very bad experiences several years ago (and not  just rebate related). It seems that once I have a negative first impression, it stays. I also have another friend who has bought several times recently from TD with no problems at all. Someday I will probablt try ordering something from them if I can't get it from Newegg, where I've always had great experiences. Otherwise I don't see any reason to switch to another vendor.

I just ordered another laptop, travel case, and wireless router Tues evening from Newegg. The laptop and router already arrived yesterday afternoon, the case hasn't yet as it is shipped out of Cal. Will probably be here today. No extra charge for fast shipping, even though they offer to take your money for faster.

TD offers the same price on it as Newegg, but I see no reason to switch.

QuoteI just ordered another laptop, travel case, and wireless router Tues evening from Newegg. The laptop and router already arrived yesterday afternoon, the case hasn't yet as it is shipped out of Cal. Will probably be here today. No extra charge for fast shipping, even though they offer to take your money for faster.

TD offers the same price on it as Newegg, but I see no reason to switch.

Yeah, I heard NewEgg has a great service. TigerDirect too. There's room for both in the market place (and for eCost too). Do you know which company owns www.newegg.com? Thanks BigSully

Thinking of online retailers, there's a company that I would like to buy again, if it dips much further, which is BFLY, remember that one? Starting to get cheap ... but I'll wait for a positive catalyst, for now the stock is trending down and losing money every quarter.

Coming back to SYX, the stock actually rose a bit yesterday on increasing volume, and I guess that's a good clue that it will respect the ascending support line on the chart below. With time, the ascending triangle will probably breakout on the upside, as it usually happens.

 Do you know which company owns www.newegg.com? Thanks BigSully


I always assumed Newegg to be privately owned, but don`t know for sure.

Quote from: BigSully1 on July 29, 2007, 02:10:01 PM
Do you know which company owns www.newegg.com? Thanks BigSully


I always assumed Newegg to be privately owned, but don`t know for sure.

Yes, they are private owned.

"Newegg.com opened for business in 2001 and achieved $1.5 billion in annual sales in its first 6 years of operation. Inc. Magazine recently distinguished Newegg in its list of America's 500 Fastest-Growing Private Companies. We are one of four companies in the list's 25-year history to qualify on growth merits while also recording $1+ billion in annual sales."

Quote from: BigSully1 on July 29, 2007, 02:10:01 PM
Do you know which company owns www.newegg.com? Thanks BigSully


I always assumed Newegg to be privately owned, but don`t know for sure.

This company reminds me of EggHead.com when it got bought by Onsale.com in early 1997 but in less than a year both companies went bankruptcy 

I was one of the victims when I bought it 190 shares for $11 and sold it at $0.25   

bad experience ....

I thought Egghead.com became Newegg.com!?

I bought from Tiger Direct over a year ago. They were fast to ship and excellent price. I ordered the wrong memory card,  so I had to return it. The customer service was very good. As with any return, I had to pay for shipping to return the item.

Oh, I just did a search and found this "Despite frequent consumer confusion, Newegg has no connection with the former Egghead.com (a brand now owned by Amazon.)"

Place www.egghead.com in your address bar and it will take you to an Amazon page for egghead.com software.

Sorry if this is repeated information.
Newegg.com has a Chinese e-commerce website which is at http://www.newegg.com.cn/

I'm sorry, I'm very late for these updates today, SYX did very well yesterday, I expect it to cross above $22 soon and I'll keep holding the stock.

Good ER from PCMall.   MALL

Quote from: BigSully1 on July 31, 2007, 10:55:23 AM
Good ER from PCMall.   MALL

Probably why SYX gapped up this morning and then fell back into it's base. I just bought some SYX in anticipation of very good ER.