MagIndustries Corp MAAFF

RE: Burton gang and new interim CFO

[hannahm]

This is a strange and negative development that has influenced me to sell more on the next jump just to be safe.  It doesn't speak well of the deal being completed over the next month.

Still, there could be reasons outside the stock that forced Burton to sell.  Perhaps he's been spending money outside his paygrade, living the highlife on three continents. He too could have expected the deal to close earlier and has overextended himself.  Ed McMann was going to have to claim bankruptcy not too long ago.  Rich people need money too.

That's a wishful spin though.

We will have to watch out for other insider sells as that could point to whether this has to do with the Burton's or the company.

Still, I think your shares are safe from plummet in the short term and the long term fundamentals of this stock are sound. 

My hopes for a close at the end of the month are not high though, but there will likely be those jumps so I think the best thing to do is sell chunks as they come and buy them back cheaper as it goes down.