the clock is ticking and MCP mgmt must decide what day they intend to report the last 90days disaster .....
whatever day that becomes in May2013 ..... Mr Market will take the appropriate action and fresh ALL TIME LOWS will be posted within a few days ( if not immediately ) ......just give it a little more time !
Only 50 cents down to a NEW ALL TIME LOW
Additonally - Overall volume has been steadily dropping over the last year to 18months, of course there are some random days where more bad news comes out the the volume spikes....but the trend is undeniably down along with the price of MCP stock
Here are some past dates:
Announcement ... Report
4-27-11 ................. 5-10-11
7-18-11 .................. 8-11-11
10-19-11 ................ 11-10-11
2-13-12 ................... 2-23-12
4-30-12 .................... 5-10-12
7-24-12 .................... 8-2-12
10-23-12 ................ 11-8-12
1-30-13 ................. 2-28-13 (delayed to) .....3-14-13
The earliest announcement of the report date was about 4 weeks from end of quarter. The latest was about 6 weeks from end of quarter. The earliest report was about 5 weeks from end of quarter. The latest (scheduled) was about 8 weeks from the quarter end.
My guess is a report on 5-2 or 5-9 (they seem to prefer Thursday reporting). SEC rules say the announcement of the date must be at least a week in advance. So the most likely timing is a late Apil announcement of the date, and a 5-9 reporting date.
The results will be terrible though. The sales volume is likely to be terrible and the price terrible.
Jeff...I saw some other posts on the issue of MCP reporting their results for Q1 and checked the history. Apparently, they didn't report the 2012 Q1 until May 10th, so they have time. I am quite surprised how resilient the share price has become after getting a couple thousand shares to short. I figure if management is dismal in their presentation, the stock will drop significantly. If not, it may hold or rise slightly. Either way, I expect the numbers will not be good, but I think that is baked-in the price. Between then and now...I figure it will bounce from 5.05 to 5.35.
There is absolutely no reason to respond to the clowns and their moronic predictions on this board. Everyone knows MCP issues earnings each quarter near the end of the reporting period. Jeff and his idiotic short brethren like Silk Exchange on Seeking Alpha have become pigs.
If you look at the trading, it appears that someone bought up to 3 million shares in the morning (paying up to $5.55), and then sold calls against the position to hedge it somewhat. They sold maybe 3,000 contracts at the May $6 strike, so they are only partially hedged. After the buying binge, the stock sold back down on relatively light volume, so the close doesn't mean much. VWAP on the day is $5.33...and it's pretty clear someone made a big bull bet in MCP today.
It didn't close well because there are so many morons in this stock, folks tend to ignore the trading. You have to be a complete nut to be short at this point...I mean, exactly what HASN'T been discounted in the price at this point? Shorts are insane, and they are such a bunch of pompous a holes, they deserve to burn now.