I will likely be long this stock again at some point in the future...but as I have stated in an earlier post, at this point I don't think it would be above $8...
I meant "as in the case of a swimmer, gone under the surface, which in this case is $10.... So I was suggesting that $10 is the psychological support level that would tend to hold the stock up for a while...when it broke below it on the third time it would stay below it. Nothing scientific here... Just a fanciful metaphor... and no I'm not short. You know me, if I was short I'd be boasting about it. lol. But seriously. I don't short ... I don't use margin. EVER.... I don't believe those who do accomplish anything by posting opinions on this board either...long or short.
What are you "lol"ing about?. The stock has sank from $17 to $10....you speak as though this stock has no issues. They wouldn't be the first company to buy back stock only to later reissue it at a lower price than they bought it for. As to restating earnings, it often comes with greatly reduced guidance. It gives management a bit of a "pass" claiming things really didn't that get that much worse on the grounds that in reality they weren't as good as they had originally said they were. I'm making illustrations of things I have seen other companies do that were in the situation SWHC us currently in. They are only possibilities.
libertee - This is the kind of post that seems to me to serve no useful purpose "the 3rd time she's gone....."
Just what is that supposed to mean? Chapter 11? Acquired by someone? Down to $0 per share? I think we all agree that sales are down and the pps will struggle but "gone?" Would you care to elaborate on what you mean by that phrase?
It's posts like this that make folks think you must be short the stock, although you have repeatedly denied it.
oh now there is going to be a restating of earnings too?? lol. Is that before or after the equity offering?? You are a clown
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If we assume your 10 multiple (which I happen to agree is reasonable) proves to be accurate, then we are left with the issue of what to plug in for the "E"... Not only are forward earnings cloudy, we aren't even certain past earnings are accurate with as many restated earnings we see these days. If there is some kind if "clear the decks" maneuver, it is often accompanied by restating past earnings as well. "We overvalued our inventory"... Or "we didn't take enough depreciation". Et al.... Beyond that, stocks rarely have a soft landing on their proper valuation. It is almost always the case they overshoot on both the upside and low side. Using your 9.20 valuation as an "assumed" correct valuation, my guess is the stock would bottom about 20% below that before turning back up: $7 and change... Heavy emphasis on the "my guess" part.. Lol.... The real "need to know" part of this equation is "how plugged up is the distribution channel?" IMHO.
That should work for you. Not a bad time to have some cash also. Even though our fiat money will become worthless over a long period, there is way too much complacency in the short run and we have a rookie at the helm. He'd rather be playing golf, and despite his 20 handicap, he's still a better golfer than Commander in Chief. Having just commemorated the 13th anniversary of 9/11, I reflected back to the horror this country endured especially during those immediate days following the attack. The loss of humanity cannot be calculated, but the financial setback was also significant. If you recall the first tower was struck 45 min before the opening bell on Tuesday. The market didn't open until the following Monday. When it did, it was hard to find a bid on most anything. Folks on margin were screwed. This ISIS outfit is way more sophisticated than Al Qaida ever was IMO. They have one mission. To bring us down. Then there is the issue of sovereign debt insolvency. Don't misunderstand me. I don't wake everyday expecting my house to burn down. But I do make sure my homeowner's premiums are paid on time.
Yeah same here! It's on my watch list!! Along with AUY, I picked up some AUY shares actually this morning my buy trigger of $7.20 was filled this morning, I think it's a decent stock check it out. I watched that stock since it was trading over $10 a share.
Dow up a hundred and this pile of junk falls 2%. Give us a decent pop so we can run for the exits although it looks like the running began weeks ago.
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What kind of position do you hold in this stock or do you just watch it on the sidelines