I told you that this stock was going below $3 and you're still holding it....LOSERS
Why would anyone that has at least half a brain piss away their money on a stock that is:
(2)Pays no dividend
(3)Has bad PR
(4)Has enormous debt
(5)Is losing money
You longs are FOOLS !
I am a strict contrarian. I oftentimes do the exact opposite of what the "crowd" say you need to do. As the crowd gets louder, I gain even more conviction that I am right in doing the opposite. Doesn't work 100% of the time, but has worked enough to net me some pretty nice gains on stocks that have been beaten down.
Hedgies are very easy to go against.
the foolish behavior of the crowd. One bad apple doesn't rot the bunch. This is a large corporation, made up of many small individual acquisitions. So one operator goes nuts and does some bad things. Does that mean the whole company, and its thousands of other locations are bad ? I don't think so - this was a great buying opportunity !
Agree to a point but the troubled companies I invest in are oftentimes given some slack from the banks to turn themselves around. It costs money and time to force a company into insolvency, and banks are not inclined to so so if they can maximize their returns by letting the company fix itself. It's simple math. Banks are not Warren Buffet.
I'm not blaming shorts for anything either. If anything, I'm thanking them for being so foolish.
You are a moron. All of course, IMHO.
Concerning your statement:
"Why would creditors suddenly turn around and push them into Ch. 11? "
If you regularly deal with insolvent companies in your investments, surely you understand that it is normal and customary for creditors to take a company down and gather their assets so that they can profit from them. Don't you know anything about that brutal Berkshire-Hathaway method of profiting. Fellow, you don't need to be blaming the shorts for your problems, you need to get some common business sense if your going to deal with these type of companies?? All of course, IMHO.
Good post, and welcome to the board. I am looking forward to reading more. With all the hysteria, nonsense and garbage that is posted on here, another voice of common sense is greatly appreciated.
A critical reading:
nstone2000 < First of all, SRV is losing money >
I don't know that, because the Mar 02 qtr hasn't been reported.
nstone2000 < second, it's selling off many of it's holdings to service
tremendous debt >
Yes, and I see that as the right thing to do.
nstone2000 < third is that SCI's tainted reputation is becoming worse
every day; >
That's subjective. I don't paint all of SCI with a Menorah Gardens
paintbrush. And the verdict is still out on Menorah.
nstone2000 < fourth, you are so caught up in the propaganda fundamentals that
you can't see the charts screaming at you since SRV was above 7. >
"Propaganda fundamentals" is nothing but hyperbole. The charts didn't
look all that bad to me in late Oct until late Nov 01. And at least all of this
year the charts reflect Menorah.
nstone2000 < I have daytraded this LOSER for over 2 years now and the
chart patterns make it so clear. >
SRV was a WINNER from Jan 01 to Aug 01 and a long who bought 2 years ago
in Dec 00, and didn't sell would still have a WINNER. The chart makes
nstone2000 < Everyone here keeps looking at the news, >
I would certainly expect so.
nstone2000 < the (cooked) books, >
That's not what PricewaterhouseCoopers says.
nstone2000 < the rediculous statements made by SCI's management >
I haven't heard any ridiculous statements from SCI's management.
nstone2000 < fact that SRV keeps making lower lows and lower highs for
over a year >
I see a higher high in Aug 01.
nstone2000 < while their earnings keep dropping. >
I see gross profit up qtr after qtr for the last 3 reported qtrs.
Operating income was also up the last 3 qts -- the Sept 01 qtr over the
Jun 01 qtr and before Unusual Income/Expense in the Dec 01 qtr.
Sometimes a careful evaluation can clarify the mind and prevent
contamination with irrational thinking. After being exposed to garbage,
I use Yahoo's "Ignore" nstone2000 to prevent further exposure and any
First of all, SRV is losing money; second, it's selling off many of it's holdings to service tremendous debt; third is that SCI's tainted reputation is becoming worse every day; fourth, you are so caught up in the propaganda fundamentals that you can't see the charts screaming at you since SRV was above 7.
I have daytraded this LOSER for over 2 years now and the chart patterns make it so clear.
Everyone here keeps looking at the news, the (cooked) books, the rediculous statements made by SCI's management; and missing the fact that SRV keeps making lower lows and lower highs for over a year while their earnings keep dropping.
I wish you luck but remember; "A FOOL & HIS MONEY ARE SOON PARTED".
Don't say you weren't warned................
If you must sit on a stock for years, at least do it with one that pays a dividend.
I love it...this is why I love these typse of stocks. There is EVERY reason in the world to sell this thing, and the shorts are very quick to point out all of them (over and over again).
It is for those exact reasons that I am LOADING up today. Everything is terrible!! PR is awful! The long bull on the Street downtraged it today! Mass hysteria!!!
Major double-down at $3.53 this morning. Showing a loss overall still, but I am very confident that I am going to clean house on this thing over the long-term (3-5 years). that is my horizon.
Why would anyone hold a stock 3-5 years that pays NO dividend and has very little potential to become profitable ?
I wish you luck but you're throwing away your money on SRV.
You must have lots of money to be able to tie it up long-term without dividends and a great potential for the company to go broke.
Look at it's earnings (losing a lot) as well as it's debt.
SRV can't survive the way things are going. This is another Houston based company and will be the Enron of the funeral industry.