3SOF

I also sold mine also as i do consider the stock risky now. When I bought, I didn't do my DD and didn't even know that Tiger direct was owned by SYX. I know better now. What's more, I won't be buying anything from Tigerdirect.

SYX is not the only stock I've sold in the last few days, I've lightened up many and have begun to look for good short prospects, just in case.

All the online electronics dealers have some complaints, but tigerdirect clearly has an over abundance of them.

Again, you have to keep in mind that if the dealer (this goes for any of them) , is not a factory authorized dealer, the manufacturer will not honor rebates or warranties. Most manufacturers do this to protect their brick and mortar dealers.

Any other rebates/warranties offered by the reseller/e-tailer should be honored by that reseller/e-tailer. Whether they do so or not, maybe a different story.

Of course StockLemon is biased in their opinion, but I also think it wise to open an ear to what they are saying. They probably have some clout and determination to pressure authorities to take some action. Very happy with my gain in SYX. THNX David.

I sold out today, for over a 50% percent gain on some shares, as well.  Nice call David.

I did not like the way SYX was trading.  There seemed to be one seller selling a ton of shares after lunch EST for the past three days.  And, now I know why (or at least think I do):

http://biz.yahoo.com/ap/070117/systemax_cfo.html?.v=1

The CFO has resigned.

Not sure what this means long term, but I am glad I sold today.

QuoteI sold out today, for over a 50% percent gain on some shares, as well.  Nice call David.

Thanks

QuoteThe CFO has resigned.

Resigned? He retired after 10 years on the job, that's quite different:

• Systemax CFO Retires, Replacement Announced
Business Wire (Wed 5:03pm)

QuoteNot sure what this means long term, but I am glad I sold today.

I'm glad you're glad, I'll continue holding SYX.

"Resigned? He retired after 10 years on the job, that's quite different:"

"Resigned" and "retired" mean the same thing to me.  I meant nothing negative by my choice of words.

My only point was that SYX was trading strangely the last three days, with huge blocks showing at the ask, and perhaps it has something to do with the CFO leaving. 

In any event, you're probably correct to continue to hold.  SYX has a huge upside.    I will probably end up buying some shares back, later.  I am just a little skittish this week, for some reason.

Quote"Resigned" and "retired" mean the same thing to me.  I meant nothing negative by my choice of words.

Ok, it's just that you scared me with that "The CFO has resigned"

QuoteMy only point was that SYX was trading strangely the last three days, with huge blocks showing at the ask, and perhaps it has something to do with the CFO leaving.

I hope so, because if that's the case, the news is out now: sell the bad rumor, buy the news !

Anyway, look at SYX chart again. It may retest the $19.25 support level (prior resistance), without making any damage to the bull trend. But my guess is it will rally after tomorrow's lower open. Time will tell, and this is all short term thinking, and it doesn't change the fact that SYX is trading at 0.3 times revenues and 14 times 2006 earnings.

Retired and Resigned are to different things. When you retire from a company, that usually means that a person just does not want to work anymore and enjoy the rest of his years.

When you resign from a position it usually means that you will be seeking employment elsewhere. Which means that you rather work somewhere else.

In this case the CFO stated that he is retiring, but staying on part time for a year to help the transition. If there was any issues, he wouldn't want to stick around another year. This whole thing is just a case of a 61 year old man who made a lot of money of the years and wants to play more golf and enjoy the good life.

Tommorrow, we will probably open lower and move back into the green by the end of day with a positive close.

Hmm....looks like a lot of people are overreacting??

I don't quite see what the hurry is to sell!  Nothing negative reported nor did they have a big volume spike.  The stocklemon website sounds shady so I'm not a believer in what they claim.  It sounds like they are in it for the own good.......IMO, they got caught shorting the stock way back when.

I will take profit but will likely sell 1/2 shares when it breaks a support level or when something negative is reported.

Anyways, only time will tell if the sell was a good decision or not short term.  SYX still appears bullish to me........atleast for now!

Thai

Hmm....looks like a lot of people are overreacting??

Quote

I was in the mid 12's.  I'm simply taking profits.  Knowing when to sell is an imperfect science, and it evolves with most traders I think.  I'm not particularly good at it, but I have underreacted too many times and seen profits slip away, or in some cases taken losses.  The classic grabbing defeat from the jaws of victory.  Sometimes you just have to take a win for your "psyche", and this is one of those times for me anyway.  How I actually feel about it however will be in direct proportion to the direction the stock takes without me, unlike some who can simply "be glad" they sold before seeing the results.  I am constantly either patting myself on the back, or kicking myself in the butt, but I do neither until I see how it works out. 

I think saying "you're glad you sold", before seeing how it works out is psuedo bashing, albeit unintentionally.  It was/is a fabulous pick, and I would never want to give the impression that I can see the sky falling, when there is no evidence of it, particularly for the fine folks still holding.  Afterall, clouds often clear away before a day of sunshine, just as they sometimes appear before a storm.  Time ultimately provides the answer.

Stocklemon has a following, regardless of what anybody thinks about them.   Lots of stocks have tanked after they panned them.  Some stocks they have panned have not tanked.  The fact that they have been wrong before is entirely not the point.  It seems the higher the stock has run up, the more skittish retail traders become in reaction to their articles IMHO.  But retail investors often get skittish after run up without the Lemon, so what do I know.

Yea ... huge overreaction!  Down 10%?!?

Just bought some more; I am way overinvested in this one.

Quote from: danman3459 on January 18, 2007, 09:44:43 AM
Yea ... huge overreaction!  Down 10%?!?

Just bought some more; I am way overinvested in this one.

I think that's the way to go danman3459, I would be adding on this dip too.

Whoa!     I got stomped out on half my position.

Time to pick up more when the time is right!

Congrats to everyone who took a profit yesterday. 


Hmm......That's weird my stop limit order never got executed.  I guess I'm still fully invested in this one.   

I just added a little bit to my position as well. I can't believe the over reaction to the CFO announcement. I admit I expected it to be down, but not by this much. He is still staying with the company part time for the next year.

Quote from: eggman11 on January 18, 2007, 10:32:44 AM
I just added a little bit to my position as well. I can't believe the over reaction to the CFO announcement. I admit I expected it to be down, but not by this much. He is still staying with the company part time for the next year.

It wasn't just the CFO retiring. It is also some lag effect of stockLemon's article yesterday. And Cramer said very loud today on CNBC: "Sell all technology, except CSCO, AAPL, GOOG, MSFT and ... (I don't remember the other)". And Bernanke said the US budjet deficit may imperil the economy.

Four absolutely wrong motives to sell, but watch how the Nasdaq 100 is down 1.31%. I expect bears to get punished, and punished seriously, today, as the market rebounds towards the close.

"And Cramer said very loud today on CNBC: "Sell all technology, except CSCO, AAPL, GOOG, MSFT and ... (I don't remember the other)"."

I believe HP (Hewlett Packard) was the other, although I may not remember correctly. 

800,000 SYX sold already this morning.  There seems to be a pretty solid base at 18-18.25.

I missed the original entry on this one so I was happy to be able to grab some shares at 18.25. Now let's see a strong rebound!