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Author: LakeEffect Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71  
Subject: I'm Out :( Date: 3/14/2005 8:51 PM
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My stop-loss at $7.05 hit today and I have sold all my holdings in LCI. I committed the cardinal sin of letting a sizeable gain turn into a sizeable loss. My initial reaction was to hold for the turnaround, but as the stock continues to slide each week, I had to re-consider my reasons for holding. I liked the idea of a small, growing generic mfr, who seemed to be on the right track to success.

But last year's stock dilution and the associated Perrigo (non)buyout fiasco, plus the recent departure of the CFO leaves me concerned. And I assume the disposition of 80-year-old Mr. Farber's holdings is still up in the air. And I need not mention the deterioration of the share price.

The recently announced buyback indicates management may feel the stock is undervalued, and it may well be. I will keep LCI on my watch list and consider re-entering if I see a bottom put in and signs of a recovery. Good luck to all.
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