General Magic (fka GMGC)

[Baja33]

Hi Folks. I have been an investor in GMGC since Aug-2000; what a dissapointing ride. Here's hoping that the sharks will run this thing up again before the next round of financing in, I believe April (from RB board). They have 33.3MM shares to blow out and I cannot believe that they would keep the downward pressure on the price in order to reset below .20 again. Assuming that GMGC raises an additional 7MM shares the sharks are going to have approx 70MM shares to get rid of (which would take them months upon months at current trading volume).

I use to have a long term strategy for this stock, but, have come to the conclusion that the only possible way to make any money on magic (which i have yet to do) is to swim along side of the sharks. I've spent the last 2 years averaging down, and down and down and down to a point where I think I can make a few bucks if the sharks stop loading the ask every day. I am afraid though that we will break support at .23 today (of course after I spent the last 2 days buying at .26) and from there it's anybody's guess where it ends up (short term) - Good luck all.