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Providian Financial Corp (PVN) Message Board

  • joe30_ch joe30_ch Dec 14, 2001 10:57 PM Flag

    Just re-visiting this board

    I sold my PVN at 2.89 awhile back and eat my loss, I've since made back most of my loss by swing trading RFMD twice. Let me tell you people my thoughs of PVN.

    1) PVN reminds me of a gas-less bus coasting downhill and making stops here and there but not knowing where the incline ends,

    2) Has anyone of you noticed the posters come and leaves like passengers getting on the bus and leaving when they realize they've stepped into the wrong bus,

    3) PVN is not a day trading stock, since it has no volatility, it is gradually going down,

    4) The longs here realized they've made a mistake buying PVN and tries to get out with a minimum lost by hyping the stock, like buyout, news next week, $4 next week, Bin Laden dead, etc. That's all bullshirt.

    5) The only way for PVN to rise from the ashes is when they show improved earnings, maybe next summer or so. In the meantime, why not just sell it (you are sitting on deal money) and make use of your money. The buying opportunity will be 2 - 3 days before year end and you'll be rewarded. After you've recover some of your money, you'll never want to touch PVN again.

    Testimony from a past PVN long.

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    • thanks for cool advice, what you say is true. Stock price won't be affected by bashing or hyping but by real news and earnings. PVN has been quiet from management recently. It will be a tough winter for PVN shareholders but Spring will come. Now is good time to get in and next summer will reap richly. Patience, Patience, but it is tough to live in uncertainty especially for putting hard earned money seemingly in risk zone., if it is investment not gambling, then should not live in "fear or hope" emotion. Buy and hold at this price won't get much wrong, if it gets BK, then be it, every decision leads consequence. But the chance of BK is very low, PVN has tough time but will be ok when overall economy turns around. IMHO