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Ameristar Casinos, AŞ Message Board

  • pumpndumpn pumpndumpn Apr 30, 2009 3:30 PM Flag

    I just shorted this no brainer over 52 week high

    lol........ upgrade? lol I piss on their upgrade.....

    easy money ...very easy money

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    • isnt this what you were doing with mgm at $6?

    • I am with you. It has 60 cents for every $1 of current liabilities. It is 56% insider owned. It recently modified its debt covenants to prevent a default and allow a dividend. I have been shorting this puppy since $12.50/share up to $21.00 a share. Every time I short another 1K shares I enjoy watching the market maker take it up in the hopes I will capitulate. Unfortunately for the MM I have very long legs.

      I also reviewed the most recent 10K and perceive how the management can make this quarter look good on declining revenues by not taking impairments. The declining revenues, debt load, capitalized interest expenses and insider control speaks volumes. It is my belief that the insiders might ultimately buy the debt, take the company into BK and acquire 100% ownership, all legally, at the expense of the minority shareholders. Interestingly, independent Audit Integrity picks ASCA as one of the companies most likely to declare BK in 2009. I don't think swine flu is gonna help matters either. I am now short over 20K shares and have no worries at all. Easy money. Just takes time.

    • I am with you... I just shorted 4500 Shares @ 20.72

      Good luck...

      tomorrow I will short more if it goes up