Well, I've been accumulating stock as it descended below the $20 level. At $18.37 I am now fully invested, $60,000 worth. No, I don't expect anyone to buy this company. I'm too sane to believe that. However, I know what will happen to the stock price if PBY can report good numbers in August. Any bears here willing to put up similar money and sell short??? C'mon, I double dare you!
LAGUN, One will learn that shorting into a strong buy back program or well executed take over rumor can become expensive. I learned the hard way against Autozone. PEP is a pure rumor play losing wind. The money for this decade has already been made. The pirates themselves know at these levels the risk/reward ratio is ???????? otherwise they would be in there averaging up as does most professional traders do - their convictions have been confirmed so they buy more where as the little guy averages down hoping he is right; betting on finding the turn around.I believe if the pirates could find a buyer for their whole position now, I believe they would smack a $18.37 bid and walk away. They knew PEP needed time and money when they ventured in at the low and even mid teens; but they under estimated. Remember they are pirates, not private equity guys. Get Short? No. Get Long? Big No No. I would stick with something that at least had a P/E ratio and if needed - some rumor potential such as ADVANCE. Margin issues & no CEO - It's due for a rumor. Riggy
Good Post Riggy. If I read it right its what I said earlier . No fast money but things could change. Only difference I see is that it may not be over for the decade just for the year. I think first quarter / Second quarter 08 will change direction very possibly in a positive way. If you own stay long. If you dont look for a good time to buy in the next 6 months.