Oil! Oh my God, oil! China! Oh my God, China! The fed, the fed, what will we do? SELL! That's what we'll do! Sell, sell, sell! When all the bU11$h*t is over, there should be quite a few bargains out there. Until then, keep that dry powder dry.
Thanks a lot. Nice call. Down 3.62%
Never, ever, ever called buy on BX at 44. Or 34. I didn't consider putting any $$$ into this until it was under 27. Got in a little too early at 26.75, then perfectly timed at 23.92.
Looks like the "professional" trader is more like a professional gymnast, doing quite a flip-flop overnight. On Jan. 28, he says "BX SUCKS" but then he issues a buy rating the next day? Sorry, flipper, I called it first. You do appear to know something about sucking, however.
That's what we're watching. Fascinating morning watching the tape today. The market is still very sick, and oil is still in the driver's seat. BX tried hard, really hard, to cling to 26 during the first 30 minutes, but just succumbed. Two up days in a row? Not a chance, not in this market.
You all know the expression. It's why your stock goes down when the share price is riding high and they deliver a great earnings report. It works both ways, you know. The bad news is out, and in all likelihood, has been "baked into the cake." Buckle up, shorty.
Yahoo finance??? You're joking, right? You can't get any MORE random than yahoo finance! They're among the cretins who have the BX divvy at 1.96, or 4 x the fourth quarter (lowest) payout. Please, please, NEVER come in here with Yahoo Finance as a source! It will destroy your credibility. Yahoo finance...that's a good one. Yahoo employs the worst writers on the planet! Sheesh.
The amount of misinformation floating around during this market swoon is astounding. With oil driving the markets, (this alone is astounding) people have turned stupid. Forbes, not known for stupidity themselves, has joined in with an article posted Saturday entitled "For big dividends living on borrowed time." The author, "contributor" Brett Owens, sounds the alarm on Blackstone. "...The company is currently paying out a $1.96 dividend..." Come on, Brett. Do your damned research before you go public with your yellow journalism. I was paid a dividend of $2.90 last year. Brett has done what many other cretins with public forums have done, and multiplied the 4th quarter payout by four. He even KNEW that the company paid a larger distribution in the first three quarters, but apparently couldn't add four two-digit numbers, 78 + 89 + 74 + 49. And we're supposed to accept investment advice from this clown? And Forbes lets him post under their auspices? Good God. It's like paying heed to idiots on a message board.
Shorting (or betting against) BX stock at $25 is no different that going long at $44. A very, very bad idea. Let me hear an argument against that.
Direct from Stephen Schwarzman's mouth: Blackstone has not sunk one penny into oil...YET. Speaking with Dana Cimilluca of The Wall Street Journal at the World Economic Forum in Davros, Switzerland, Schwarzman says BX started looking at oil when the price was $40/barrel. They looked, but didn't touch. If you're predicting gloom and doom for earnings due to the further collapse of oil, predict again. Panic continues in today's trading as oil drops, and oil continues to run the entire market. BX watches and waits with it's wallet bulging.
Yeah. Another company that does nothing for mankind, except enrich its owners? Cigna. Their share price has tripled in the last three years, while my deductibles, co-pays and out-of pocket expenses have increase ten-fold.
Shorting BX at this level (24.50 as I type) is equivalent to buying and going long at 44. May your shorts get squeezed so hard in coming days that your nuts pop out.
"When the smoke clears..." Well, obviously, with futures down over 300 points on the Dow, it's still pretty damned smoky. Oil continues to drive the market and today it's crashing, taking futures with it. Volatility is huge lately, and continues to dominate. Watch for BX to give back a big chunk of yesterday's gain. Personally, I'll continue to watch and wait. If BX falls back into the 23's, I'll nibble. But it's so damned smoky, I can hardly breathe. This preposterous casino of a market is simply one gross over-reaction after another, and today is just one more.
Good question. If the broader market continues in freefall, BX will fall even harder. The price of oil seems to be running the overall stock market. The time to start "nibbling" was this morning during the first hour of trading. I had a limit order in for 23.60 for 100 shares. Wouldn't be surprised to see a pullback tomorrow. I also would not be surprised to see BX run up another 5% tomorrow. In any case, buying in small increments would be wise, and something in the 25's I think is a great price. When the smoke clears? An expression for when things calm down and the market stabilizes. Hard to say when that might happen, though. No crystal ball here.
What your watching has nothing to do with BX or its fundamentals. It has everything to do with traders running our markets and panicked investors capitulating. Blackstone stock is on sale.
Is it safe? F___, NO! Nice anti-gravity act by BX stock for a couple of hours today, then Pfffft. American stock market is sick, sick, sick, defying all traditional logic. BX share price collapses because...no reason! Just...because. Normally you would associate a 40% drop in share price with some kind of disaster. Well, normal doesn't exist anymore. I guess it's time to panic sell, eh? Even though, at this point, that seems like the dumbest thing in the world to do. Better to raise cash and keep a cache of dry powder for a buying spree when sanity returns. But will it? Nothing makes sense anymore. All these mass shootings in the U.S. make no sense, but they've become an everyday occurrence.