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Walgreen Co. Message Board

  • robbsbeach robbsbeach Dec 21, 2011 10:45 PM Flag

    Who's buying At this Price??

    big.yank do you care to ponder who is buying here.

    That is, if you care to post back to a non-position holder at this price!!

    Cmxgen, the same question to you!!

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    • robbsbeach,

      I think you saw, yesterday, a classical example of computer trading at its most vulnerable point of weakness. When the models showed a decline of 5% in S/P, prior to the C/C, the price shot down over 7%. The short mentality set in to a point of greedy excess. Then when the call began and got into guidance that predicted rosy retention of ESRX Rx volume, the price recovered somewhat and set off a mini-short-squeeze that triggered a reverse scenario.

      The violent swings up and down on huge volume smack totally of computer trading platforms!

      At the end of the day, I only see 10-11 million shares actively traded on Walgreens, most traded twice by the same traders, mostly hedgies. It looks like a trading bonanza, but they are the same players trading the same shares multiple times throughout the trading session.

      Today's modest volume tends to confirm this action... no dead cat bounce, no return to huge short shares traded.

      Just my view...neither the news, results or guidance were all that consequential.


    • I shorted shares today. I think we have considerable downside remaining.

      To answer your question on who is buying?
      ~ Its Wall Street and fund manager who are buying into Walgreen maintaining 97 to 99% retention of current volume. I dont know how this is possible and first quarter picture as well as monthly sales figures will reflect the outlandish over optimistic view by WAG mgmt.

      Wag faithful are still hoping for a deal. CMX is sharpening its dagger and I bet cant wait for the next negotiation with WAG.

      I still cant believe the level of white paper WAG released and the super soft ball questions...

      WAG should hit high 20s soon.

      • 2 Replies to cmxgen
      • In the conference transcript, the CFO said there was 680+ M left of the 2 billion announced repurchase program.
        Hope this helps..

        Milo is right, if Walgreens decides the disruption is to costly they may ponder accepting Esrx terms.
        MHS board approved the buyout.

        Either way, a downside correction should allow me to capture some shares.
        Cmxgen I hope your not doing a naked short..

      • I just can't trade this right now. If they announce a deal and your short you are down 7% at least in the blink of an eye. If no deal, do we gap down on 1/3? and bleed down until q2 is announced? Once all these issues are resolved we can get a better idea where the true value is.

67.39+0.01(+0.01%)Apr 23 4:01 PMEDT

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