Welcome to our small pond! We swim here from time to time and the water is warm but some dangers do lurk! Another good move today with over 600,000 more shares moving from weak to strong hands. Very good volume day on a strong move. It appears we have moved to the bottom of our next trading range. A close above $11.18 will get us back to $12.00. After that we should trade in the $12-$13 dollar area or tangible book value range. It will take some time to work through resistance at the $12-$13 level. The catalyst to move the stock to $18-$20 will be the contract agreement with the union. Once again, if the union will give ABFS the tools to compete with non union truckers, who can do the job more efficiently, and effectively than the union carriers, the stock will move much higher. If the union will not do that we will all need to sell and move on. The success or failure of YRCW and ABFS is clearly in the hands of the union. A good deal with the union and ABFS can compete. An average deal with the union will be a slower death but still a death. A bad deal with the union and ABFS will need to go on the auction block and if that is the case who would want a bloated union trucking company that the employees don't want to survive. My money is bet that the union will realize what is good for ABFS is good for them and will do the right thing to remain union and keep their jobs. However, the recent history of union negotiations concerning bakery companies and the last rank and file vote among ABFS voters gives me less hope.
Reddiamond - a very articulate post but stay optimistic. Don't let the occasional blowhard poster who claims to represent either side influence your perception of what likely is really going on.
My take, given recent trading volume and share price appreciation, is that smart money is betting on a GOOD outcome of the labor negotiations, and that ABFS will thrive after both sides reach an agreement.