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OfficeMax Incorporated Message Board

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  • sidibid1 sidibid1 Oct 4, 2011 12:44 AM Flag

    Why Would OMX stock lose %18 today?

    Because it is 2008 all over again, and the hedge funds are selling selling selling anything to raise cash.

    Further, they think Greece will default leading to total financial collapse.

    All stocks could fall from here unless Europe comes up with a fix and fast.

    Buy OMX for a chance to make a lot, but it might also drop to near zero if the world falls apart.

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    • I think the only reason for the crash is that Wall street is run by criminals . They will lose every investors becuase no one will trust them any more. Why would a company like Office Max would lose almost %30 in tow days ? was it the end of the world yestarday? it was not.

      • 1 Reply to one_dogydog
      • We are in complete agreement. I'm of the very firm belief that this was nothing more than capitalizing on a general market downturn to accumulate as many shares as possible at the lowest ever share price in the company's history.

        What took place with the sp the last couple days has nothing whatsoever with the fundamentals of OMX itself.

        And we are still at sub $5 today, while the major indexes hang out at close to yearly lows. It's still a good time for funds to accumulate more.

        Assuming Dow head back up over 11,300, the sp will be back well above $5 along with them. All of those shares that were just acquired will need to be sold for those who did all of that accumulation to take their profits.