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School Specialty Inc. Message Board

  • spencer_has_arrived spencer_has_arrived Jan 18, 2013 12:37 PM Flag

    I sold most of my position today....

    lost some money but i went back and looked at some news reread the forebearance and found a blog on SCHS that detailed the total of their debt and obligations which is now in question thru oct of 2013 2014...plus the stock is seeing no insider buys at all at this level and the zazove buy is backup up by bonds that pay out for them in case of bankruptcy so... for a little guy daytrader like myself i lost a few thousand but its just not something i want to hold on to... wish the best for those who are buying but im out for now...if they fix it then i will reconsider .

    Sentiment: Hold

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    • I understand and wish you well. One thing for sure ... we will know which direction we are headed soon. I think the chance of bankruptcy is low, but it is still possible. There is a better chance of management finding a new bank or renegotiating with Wells Fargo.

      Sentiment: Strong Buy

    • There was no reason to sell at a loss. I been buying in on the dips and am confident it will pay off nicely.Anytime you buy into a stock you should look long term. If you read up on the company you will see that they did better then projected last quarter and are tightening the belt.What we are seeing here is classic manipulation of the stock.At some point this low float will evaporate and it will rise drastically. Successful traders know you have to hold through it all to make a decent profit. if your just in it for pennies then you should not accumulate a lot because the out come ill be what happened to you. Your credibility as a trader/ poster wains.

      Sentiment: Strong Buy

      • 1 Reply to amanick2
      • it is a cash flow issue and because of the forebearance has become a short term debt issue..i dont want to be here if it becomes a long term debt issue next. No successful traders dont hold thru it all but everyone trades differently so im not going to argue that with you. I do agree about the float but again i will wait and see if they can work out the forebearance first before i consider re-entering again. best of luck to you.

        Sentiment: Hold

    • Also, you say in title you sold most. then at end of post you say you are out for now. so which is it?
      And one more thing, if you take this long to 'reread' the forebearance and then wow, found a blog!. Then you are an idiot. No offense But you had over a week to reread and sell out and read blogs and post. But you just happen to wait till the capitulation positive divergence.

      Is it maybe because you would like to try and cover without a price uptick?

      I hope when you are forced to reconsider it will be at a great loss.

      • 1 Reply to dir7digger
      • being hateful toward me isnt going to help. i chose to sell because there is more than just the forebearance totals that will come into play there are other debts to be considered and if the lenders and schs cant agree....well stock holders will be wiped out but not necessarily bond holders.
        but i dont appreciate your words or the what you said and you are on ignore.

        Sentiment: Hold

    • Funny you post this on the day of capitulation. Trying to pull on the heartstrings of the fellow 'little guy'? You're funny next you'll say you also sold today's low of .58

 

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