The reason for the recent price drop is a Goldman Sachs report that contained negative news. They felt that the switch of Senator Jeffords from the Republican to Democratic party drove a stake into the heart of any legislative relief for the asbestos issue until 2003 at a minimum.
that everybody else is on the sell side except the daytraders.HD is going to order a lot of wallboards for all of us to build a camp in the wall street area...just a joke.you win some but when you lose a lot more than you win,then the lady kicks you out and goes with the ugly guy from the wall street who will exchange some genetic information with her.i need the wallboards.when democrats do it, the republicas keep quiet but when the republicans do it, the democrats screeeeeaaaam.meanwhile USG goes down....and my losses increase
the "senate balance of power" argument makes no sense. senator jefford's defection probably won't change the way he votes. if he is a maverick now, he was probably a maverick before he defected from the republican ranks - he is still the same man with the same ideals and the same dirty money courting his favor.
i endorse nor oppose either political party, but i do find irony in the current USG/political discussion. it appears as though the hardcore adam smith invisible hand republicans are seeking government intervention to make the world a better place. what's up with that? of course, i am sure the counterargument is that the democrats are to blame for the current fubar state of our judicial system.
now for my prediction - i am sure USG will rise significantly in price very soon because i am the ultimate contrarian indicator. i sold out half my position yesterday when the stock first broke $10, and the rest this morning between $9.00 and $8.60. sorry toddfinances, usglong, bgig, et al, i just don't have the balls anymore. however, i was considering purchasing some calls just in case.
the reason i sold is because it broke $10. once that happens, a stock usually tanks pretty fast.
The Democrats now run Senate committees and the Senate calendar. The Democrats are in the pocket of the trial lawyers. They will kill any attempt at tort reform. Ergo, no legislation will help out USG.