Check out the short interest at the NASDAQ website just before and just after the two articles (one in March, one in May) that MBA wrote up on ECT. SI went in to the stratosphere just before he pounced in March, then was back down to normal the next settlement after the article. Then back up in May and back down after his second article. Went from $16 to $10 after the first article, ouch! Good news for us NES-ians is that it found a floor at the support it dropped to the day of the article, granted it hasn't one up much since, but it didn't go any lower either.
i bought puts on ECT. i'm short NES stock, no puts. ECT is below $10 and is still overvalued, those long-term shareholders will ultimately be very dissapointed.
As for NES, a follow up article will be out in a day or two. I doubt it will have any market moving effects, i'm just sharing what i've learned since the last article. 3Q could be really bad for longs, you'll read why. keep living in denial if you want. simeon atleast has the right idea and is now aware of the risks for remaining long.
If you promise to leave out the exclamation marks and hyperbole I'll promise to read it objectively. Until then I'll assume your articles are part of a team effort. Your points on leverage, declining business and potential default are factual. Factual as well is the CEO buying 2 million in shares. Is that just a 2 million dollar detox to look good in court, or is that a vote of confidence. The smell test suggests the later but anything is possible. Still haven't heard a good argument about weather delays being recoverable rev in 2H. Also haven't heard boo about rising oil prices playing into things. Macro is recovering and oil and nat gas prices are going to languish??
That being said, just the fact that we're debating bankruptcy has gotten me out of my long position and into OTM calls at $3.
I think most know the bias is down TV at least I hope they do. That is why the law suites are laughable much lower and they get zip and exercise in futility they can get a judgment but that not the same as money
And the plot thickens. You're not implying a hidden agenda are you? I'm looking forward to further comments from all of you, especially if you can get T_V involved. It's starting to get interesting again. THANKS !!