. . .
With a hold rating.
folks, with a yield at now over 6.0%, and all the rats
in sight jumping this sinking ship, do you really
think a short-sale offers a good risk-reward ratio
right now? The stock has to drop 11% over the next year
TO BREAK EVEN (6% yield + 5% lost interest on your
cash to borrow the thing, and tack on another 7% if
you're on margin).
Short term, you might still
eke out a good gain on the downside with a short, but
you better exit when the time is right. My charting
indicators (OBV, and others) show no massive dumping into
this ditch it's digging. That happened long ago. We'll
see only marginal new lows, and then consolidation
until the spin-off.
YOU ALREADY GOT IT! It was soooogooood to have
sold half of my shares pre-El Paso at 51 1/2 and the
remainder after the merger at 45.
Dana...what a pompous a**. Dana is the only cost of quality
problem Tenneco has. He makes Jim Ketelsen look like a
What a feeling to have been spun off!!!
2 bad if you sold into the gloom and doom
forecasts by fools who think reverse splits create
additional stock! If the B ratings are any indication, we
may see multiple institutional buy or accumulate
ratings. IMO the automotive company may get into a hostile
take over situation if its still cheap after the
spinoff. Longs hold on for a sweet joy ride.
$20 in the rear view mirror.
The Stock Fairy feels your pain and wants to
Place your TEN stock certificates under your
pillow and the stock fairy will magically transform them
into toilet paper.
If you don't think I can
help YOU, review the miracles I have performed for Mr.
Mead.... (His stock won't split)
The stock fairy
does has a question...
Can NYSE Stocks go
If the PCA IPO (which will price lower than 16 -
19) moves the near term TEN price into the mid-20's,
doesn't the combined post-split (1 for 5) price of PKG &
AUTO need to be 100 - 125.
notwithstanding, TEN will NEVER reach 20 again.
The 3rd Q is
going to be terrible (see a Bloomberg report from TEN's
SEC filing... around 2/3 weeks ago) but TEN made no
The reverse split, the junk bond attempt, an
ill-timed PCA IPO... just more of the same from Mead et
I bought TEN in Oct 98, averaged-down during the
ensuing months, and finally sold 21,500 shares at 19+ (a
loss of over 100K) after reading the Bloomberg
If its filed, I'm in the class action.
TEN is a
shorter's dream right now.
My message said the 1st 6 mo. of 1999, should
said 1998. My mistake. I think the idea is the
the same. I am unable to find updated statistics