for four minutes it was trading between 8.52 and 8.60, and with seconds to go before the close was at $8.57/$8.58, but then a small trade at $8.50 closed it for the day. Not sure how that happened, but the after-hours of 8.55-8.60 seems closer to what was really happening the last few minutes of trading.
Abdullah: George, how did you get such rugged hands?
Dumbya: From milkin' steers. You'd be surprised how much effort it takes to fill-up just one bucket!
<<Sorry. I thought it was being released on March 24, not February 24th. You could be right but why is it trading down today?>>
It is definately being released on February 24th. Just look at LGF's site.
It's trading down because the whole market is trading down. BTW, forget the charts on LGF. Go look at the historical prices, then look at how LGF traded before it released a number one movie, then look at the price after that.
<<<"I just look at the charts.">>
Fridaydogus, if you just look at the charts, then don't treat yourself to the flow of fundamental crap that you've been spewing. You've just come to this stock. YOu don't know anything about its fundamentals, about its content valuation, about what difference a given movie does or doesn't make, etc.
So, why not just keep your remarks to your so-called strength: technical analysis based on the charts as you interpret them.
But, if your $5 prediction is indicative of your technical prowess, then you as ignorant of that as you are of the dynamics of this company and of this stock.
Here's *my* prediction: about 10 more days of your incessant negative posting, and you go the way of our other hyperbolic shorts who sweep down for a week or two, and then disappear, never to be heard from again.
<<You thought the February puts were March. You said Madea is coming out in "two weeks" when the release is March 24 (39 days). Does that tell you something about your ability to objectively look at LGF? Pull up chart with moving averages over the last 3 months. This media stock is in trouble. >>
I didn't write anything about the puts at all. When writing about Madea I first mentioned that it's coming out in March 24. I meant to type February 24.
It's coming out in two weeks which is why I think it's a bad time to be short.
I have been following and trading LGF for almost two years.
It's been a great stock to trade. It isn't going to $5.00. Like I said, it's simply not over valued here.
<<Right now I am short because the stock fundamentals are crashing (50 day moving average). When Madea is released in 40 days the stock might be low enough, i.e. $5.00 to go long. Right now longs should bail, not hope that Matt Dillon's best supporting actor nomination will lift the stock. Crash has no chance to win best picture vis a vis Broke Back Mountain. I try to make money by playing the fundamentals.>>
As someone pointed out I typed March instead of February. Madea is coming out in two weeks.
<<P.S. Do you really think anyone who posts on this board will buy a ticket to see Madea's Family Reunion? It's an insulting movie. >>
It doesn't matter if the people that post here see the movie or not. What difference would that make? It has a built in audience.
Right now I am short because the stock fundamentals are crashing (50 day moving average). When Madea is released in 40 days the stock might be low enough, i.e. $5.00 to go long. Right now longs should bail, not hope that Matt Dillon's best supporting actor nomination will lift the stock. Crash has no chance to win best picture vis a vis Broke Back Mountain. I try to make money by playing the fundamentals.
P.S. Do you really think anyone who posts on this board will buy a ticket to see Madea's Family Reunion? It's an insulting movie.
I wasn't explaining my opinion on the stock. I am a strong supporter of LGF. I was just explaining the ratonale behind the sell rating. Which, if it just focuses on the near term, where a buyout is unlikely, can be rationalized. Also, S&P isn't a real analyst. They rate every stock, and as someone said before, it is pretty much computerized, where they basis strictly on fundamentals. This wasn't a true analyst that gets any respect on the street as being significant in any way. When I said I was surprised in came back to the level it is now, I didn't say that b/c the company should be lower, I don't think it should. I said it b/c most investors are not rationale, panic, and oversell. We saw this on Friday, but fortunately there were buyers, including myself. From my past experience, when a company slashes estimates, misses those estimates, and cuts the forecast for the year (i know it is only 1 more quarter), the stock continues a negative trend for about at least a week. I mean, even look what happened to big companies like GE (who actually met the expectations but still got killed) and INTC (who missed). Both were down severely for 2 weeks. This past week was the first week where they started to move slightly upward.
Earnings and forecast are out of the way. So lets move on to hopes for an Oscar, a great weekend for Madea, and killer Saw 2 DVD sales (no pun intended).