I hope no one from this board is the one who bought after hours for $6.30. Ouch. The person who bought those shares should have waited until market open on Monday when they can purchase anywhere they like between $5.95 and $6.05. I guess for some, patience for purchasing stocks eludes them. Have a great weekend all.
joel....so good to see you again sir. Actually, and you'll I'm sure you'll find this quite amusing, that $6.30 is mine, lol. Even more humorous than that is the $7.20 on Thursday where I first opened my position, and the $6.30 is just the beginning of my averaging down on this one. I've been watching JE for a very long time, waiting for the yield to get above 10%, and now that it meets my criteria, I will chase it all the way down to wherever it bottoms (within reason, of course). My whole reason for entering on Thursday, which you will find even more entertaining, is because you said not to. I figured since I went against your advice on ORC and came out very well, I could duplicate the "go against the joel" factor here, and well, you win. So giving credit where credit is due, kudos to you on this one. FYI - I've sold all my holding in the green (ORC included) and have gone to a substantial cash position. Based on nothing more than a gut feeling that something is coming this summer that will induce heavy volatility. I kept ARR, FSC, part of my WMC, IVR and JMI so the dividends will cover my monthly expenses, but I've sold everything else we've discussed....PSEC, LNCO, LINE, NYMT, ORC, OAKS, and everything else I'm forgetting.....all gone for now. Crazy right?
I just re-read my post and need first to apologize to you and the board: my post was rude. I'm sorry. There are many different investing philosophies; who am I to speak derogatorily on someone else's buys or sells. As always, I thoroughly enjoy hearing from you, and I have learned much from your trading. I hope I did not offend you and will make sure to be kinder on my message board posts. A great weekend to you.
Dead wrong statement, the truth could be the total opposite and regret not loading on this stock at the current price level. You never know who is that person, they might have more relevant information that you and I.
You cannot say I feel sorry for someone for taking such a position, have he lost money yet? No.
I am accumulating at this time and holding my position.
Actually by saying he's dead wrong, if he turns out to be right, that makes you dead wrong. There's a 50% chance one of you will be right, but the one who's wrong will be 100% wrong. So in this case, the math will indeed make 2 wrongs a right.
I would add that some may have no other choice and cannot trade during normal trading hours and decided to buy at what they determined to be a very depressed price. It might be only one of several buys and experience teaches that no one is able to consitently buy at the very bottom or sell at the top. The buyer @$6.30 paid the same as many earlier in the day and I'm sure is not losing any sleep over his purchase and only time will tell at what price shares will be trading at the close on Monday.