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Corrections Corporation of America Message Board

  • Pickle_007 Pickle_007 Jul 18, 1999 12:52 PM Flag

    This is an OT post on a favorite stock

    of mine recently. It's about SKX (Skechers USA) a
    manufacturer of stylish shoes that went public on 6/9/99 @ 11.
    SKX ran up to 12 3/8 and then tanked last week,
    closing at 7 today, 4 points and 36.6 % under it's IPO of
    just a month ago.

    It's a nationally recognized
    shoe which every woman, adult or teen has heard of.
    Here's the post I copied with today's trading pattern
    wrap up:

    SKX's trading pattern Thursday,
    by: Pickle_007 (M/East Coast) 304 of 308
    based on
    328,600 shares volume, which I can't compare yet to
    average daily volume, until Yahoo starts posting average
    volume. However, 7/14's volume was 305,800 shares, 7/13's
    was 225,600, 7/12's was 428,400 and the day SKX
    (Skechers USA) cracked badly, which was July 6, the volume
    was 2,078,500 and the range that day was 10 on the
    high to 7 on the low with a close of 7 3/4.

    today's 328,600 shares,

    101,000 shares traded on
    the bid

    55,000 shares traded in the middle

    173,000 shares traded on the offer and the average price
    SKX traded at today was $ 6.85. There were 273 trades
    that averaged 1204 shares per trade. SKX (Skechers
    USA) closed at 7, up 1/16 on a last sale basis and the
    closing quote was 6 15/16 bid for 1500 shares offered at
    7 for 5000 shares. However, in the closing moments
    and reported directly after the market close were
    about 4 trades totalling almost 15,000 shares all @ 7.
    If I had to guess, I suspect the quote couldn't be
    electronically changed to reflect these trades as the market had
    ended. In which case, the 5000 shares offered at 7 may
    be gone. We will find out in the

    Today's range was 6 1/2 on the low and that marked a few
    blocks that quickly downticked to trade and 7 1/16 on
    the high. No sooner had the approximate 20,000 shares
    trade at 6 1/2, SKX (Skechers USA) was immediately bid

    Today's low marks a 41 % discount from it's IPO and a 47
    % fall from it's high point of 12 3/8 reached a few
    days after the IPO.

    If you consider that SKX
    (Skechers USA) was originally filed in the 12 to 15 range
    (approximate), today's close marks a 50 % discount from the
    levels originally filed to bring the IPO

    While I've not examined every detail of their
    financials as yet, SKX (Skechers USA) is selling at an
    approximate PE of 7 with growth of 100 % over last year's
    sales, so far.

    While I can't say for sure that
    SKX (Skechers USA) will/may retrace it's recent fall
    to once again touch or pierce the $ 11 IPO level,
    it's seems very likely it will do considerably better
    than it's seen today and the past several

    I'll post more findings as I go through their

    Have a great day on Friday to all. I do consider SKX
    (Skechers USA) as a real value with minimal risk and
    considerable upside from current levels.

    Pickle 007

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    • <EOM>

    • Looks like the work of Newyorkcoffeeman. Or could
      it be are good friend and intellectual
      DocRipper????Hmmmm In either case it's do or die tommorrow watch the
      volume and hope PZN has entised Institututional buying.
      My guess is we'll see some profit taking and be
      around 10 3/4 Just a guess don't anyone call me in the
      middle of the night.

    • I was about ready to fire u up a little, I thought you were sending me the a,b,cs to study.

    • Ok which smartass made himself a new Id just for
      this special ocasion.

      If you are taking up
      story telling try doing it texas style, not back hills.
      You will probably go futher.

      I got a feeling
      I'll never live down the wet mule thing, but thats ok, had harder things to live down.

      One time
      when I was a kid, we were plowing the garden with a
      mule. It was before sun up because it got so hot after
      sun up it was unbareable.
      So on this day we were
      plowing pop corn,the sun cam up, the pop corn started
      poping,the mule thought it was snowing and lay down and
      froze to death.

    • I've been just a readin and readin your posts and
      (BLUSH) felt I hada just git to writin you. Figgered I
      could make some real brownie points if I went on out
      and burned me a mule. I cut up a months worth of
      newspapers into the size of dollar bills and put em on inta
      the back of my pickup. Headed for the renderin plant
      down the road. (Stopped on the way and tipped a few
      cows in farmer McDuffs field........just can't resist
      ya know!) Anyways, I found me a mule (male) just
      layin on the ground and I commenced to settin up my
      timer and pilin up some of my fake money. Figgered I'd
      start at the rear. I lit the pile and started the
      timer......real scientific like. I commenced to git me the scare
      of my life! That mule wern't dead at all! He let out
      a beller louder than I EVER heard and got to
      runnin. There was smoke just a billowin off his hind
      quarters. He was not happy AT ALL! Grabbed my timer and got
      the hell outa there. Wouldn't ya know but I seen him
      two days later in the parade. Ole Joe had him all
      covered with axel grease. Looked like a couple of
      tomaters back there.

      Now listen here hon. I
      figgered I proved my love fer you already. I don't care if
      yer long or short. Lets you and me git together and
      take stock of our situation. And mebbe you can teach
      me somethin about mule burnin. We got fires to lite
      SWEETIE. Lemme know and give me a few days notice. Gotta
      take a bath ya know.


    • Very informative but it won't help you with your spelling.

    • You done a good job of explaining the diference
      between long and short , I apreachiate it, Hell I thought
      long was if you were planing to keep the sob for a
      long time, and short was keeping it until it shows a

      Thank you young fellow.I guess I will learn to keep my
      mouth shut about phrases I dont know what they

      Now that we got the stock lesson of the day over with
      lets get back to making money, thats what this thing
      is all about reguardless of how its spelt, or what
      the correct damn meaning of words are, Am I not

      By the way young fellow, I want go to spiting, or
      cussing either one as long as I dont feel anyone is
      trying to insult me. Hell it may be somethings I can
      help other stockholders on, and If I can I will.

    • It's just possible that anyone asking you if you
      are 'long' or 'short' could be trying to find out if
      you are owning shares you have bought, and holding
      them, or 'shorting' shares (selling borrowed shares, in
      the expectation that the price will drop, and you can
      buy back in at a lower price, to return the borrowed
      shares at a net profit).

      Now, don't go after my
      burro with those incendiaries just yet if that
      explanation don't make much sense. Try these

      I 'borrow' 10,000 shares, and sell them when the
      price is $12.00,
      putting $120,000 in my account,
      less commission.

      Some weeks later(or days
      later, if my timing is _r_e_a_l_l_y_ good), I buy 10,000
      shares at the bargain-basement price of $9.50 each,
      which costs me $95,000, plus commission, and return
      them to the donor, closing out my 'short'

      Now I have $25,000 in my account that wasn't there a
      while back, less the commissions for buying and
      selling. Where did this money come from? Well, from those
      folks I sold my shares to at $12 each, who are now
      holding shares worth $9.50 each. You could say that the
      market 'took' $2.50 from each of those shares and put it
      in my pocket.

      Now, don't go spittin' on me if
      this overly simplified attempt to explain insulted
      your intelligence.

      Just because spell correctly
      most of the time and don't make too many grammatical
      errors, doesn't necessarily mean I'm any smarter than you
      are. ;-}

      The Man Any Clever Kid Easily Ruins

    • RJ, you are "long" if you have bought and
      currently own the stock but "short" if you have sold stock
      (before owning it) with the expectation that the price
      will drop and allow you buy and replace the borrowed
      stock at a lower price. Longs like to buy low then sell
      high. Shorts like to sell high then buy low. I am long
      PZN. Happy investing!

    • Maybe about the time we get the mule blazing real
      good we can throw Doc in just to create a good smoke

      I apreachiate what you said paperman. and yes I do
      get a lot from your post ,and also flippers,there are
      a lot of people who post who dont have nonthing to
      say, and the only reason the do post is to have
      something to do.

      I know there is a lot of things I
      post that probably dont make a lot of scense to a lot
      of people, but It does to me.

      I know too my
      spelling is not as good as some peoples',but its seems
      assholes like pznccamakinbakon can read it.

      I dont
      know at this time my friend if im long, or short. It
      kinda depends on what happens with the market,and the
      company. Im in it for the money, not to loose money. At
      the present time I could get out and make money, but
      Im waiting to see if there is a chance to make even

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