At this depressed stock price, it make sense to issue a buyback program to take advantage of the current low price. Plus, if they plaintiff know that there is huge amount of money sitting on the bank's balance sheet they will be smelling sweet blood and keep suing BP until they alll squeeze that money out of the coffers. Nice job BP.
You should never trust anybody with your money especially the wall street guys who doesn't really care about your money, but the commission they generate while making their recommendations. That's what I call Investing 101. Do your own "DD" and you will come out ahead of anybody. Listen to your own guts!
* I have shorted 3400 shares of PFE at 21.70. I do not know what to do? *
I am surprised to know that you invested this huge amount in PFE and you are turning to the message board for advise. I am shocked!. I would expected you to know more about the consequences of your current position and know how to deal with it like a real investor. Sorry can't help you but I can guaranty 100 % you'll learn a lot from this experience. Goodluck!
1) A big win with the Lipitor patent- Now that PFE won the case, it's $12 billion annual revenue alone will provide a strong engine for this 800 pound Gorilla's Research and Development for a new potentially blockbuster drug in the years to come. 2) A lot of investors are shorting it and they will be facing a dilemma wether to hold on to their short positions which I believe is a very stupid thing or they will be forced to cover due to margin's call or tax related issues. And if I am shorting this stock at this very moment , It would only make sense to cover it and move on and let Uncle Sam cover some my losses during the incoming Tax time, accepting that I am a human being that is vulnerable and easily persuade by weak emotions and try to speculate by shorting an 800 pound Gorilla with a very strong cash flow. Which I should have never done it int he first place. Thank goodness I didn't. 3)Money Managers will now start to think about PFE as solid investment and the cloud overhanging this issue is now completely gone and may want to load up to show to their dear shareholders that they are too smart to have PFE in their portfolio before PFE will go up to $30, $34, $60, or even $134. Heck, why not? I'll take the first guess any moment. This scenario alone will push the price higher and makes new ground or support for the stock. If I am shorting this, I will be very nervous right now and probably can't even sleep for the rest of the weekend trying to think and anticipate the huge stock price jump that is going to unfold on this week's first trading day. Hello Santa! Nice to know that you gave as long a nice Christmas/Holiday gift. Whichever you guys preferred to call it. Just by these 3 scenarios alone should be enough to keep push the price up for the rest of the year. I didn't even mention the pipeline yet. Did I say pipeline. No!!! They don't have good pipeline at this time but they will have in thext 2-3 years. Well, I am willing to wait so, it's not an issue for me at this time. What about the combined Torcetrapib/lipitor which is now in phase III trial which is expected to be completed in the next year or so, I don't know about you Shorts, but again I will be very scary to short PFE at this point. What about Viagra? Oh well, there are so many things to cover about PFE but needless to say, whatever the Bear and Shorts are saying about PFE, they will come out as lossers in the end. Unless, they will start shorting PFE again when it hits $134/share then I will be joining them singing the opposite phrases that I mentioned here.
"My sugestion would be to buy now.. unless what you are saying is.. all the Dorsey Wright's, Freidman Billings, Citi, Lehman Bros, and Morgan's are incorrect... and you are only here to tell them they've all fucked up."
And how many times they've been correct in their predictions about the stock market in the past 5 years? Do you really believe that they are telling you the right information when they're giving you about their opinions about the stock market directions. You want a value play? Look at EMN and see what you think. Fair Value $120/share IMHO.