Investors who never cared much for me, anyway, have the right to gloat this week. I sold 81,000 shares at $0.29, aceing myself out of more than $8,000 in gains since then. The stock hit $41 today.
Why is the runup happening? I like to think it's because of the write-up I gave the stock in The American Reporter, my online newspaper, on the Monday morning when it looked like Bear Stearns Cos. was going to crash and take the financial world down with it.
If investors wanted advice, I told them, I'd recommend ERHE despite some issues concerning the SEC and FBI.
And I pointed out that the biggest of all oil and gold speculators - the "commercials" - have amassed the largest short position in history on both those commodities.
So what happened? Well, the same day that appeared, gold hit an all-time high of $1,032 per ounce, and oil was at $111, I think. Immediately thereafter, though, gold sufffered its greatest one-day drop - about $75 an ounce - and oil also fell sharply.
ERHE, however, has risen more than 50%.
Do as I say, not as I do. And congratulations to all those myriad investors who stuck with the stock through thick, thin and profit.
About Me
- ...Joe Shea
- ... My greatest achievement was to win a First Amendment lawsuit (Shea v Reno) against Atty. Gen. Janet Reno over the First Amendment, in which I got a law declared unconstitutional in Manhattan Federal Court and was affirmed by the U.S. Supreme Court. I've been a reporter almost all my life, and have worked at or published in publications like The Reader's Digest, Esquire, Argosy, the Los Angeles Times and the San Francisco Chronicle. I was a 1970 Pulitzer Prize nominee for my stories in the Village Voice, and am an investigative reporter who once got the President's nominee to the SEC withdrawn. I'm also a native New Yorker who grew up on a farm in a small village that is now an important suburb of New York City. We still live in our pre-Revolutionary War family farmhouse there. I lived in Marietta, Ga., and Norman, Okla., as a kid, and went to the University of Oklahoma, Orange County Community College in Middletown, N.Y., and Antioch College in Columbia, Md. I lived in Beverly Hills and Hollywood, Calif., for 26 years until moving to Bradenton, Fla., in 2003.
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