McDermott International Inc. Message Board

Volume has been a little low lately so this is great news.

I had picked $5.95 because I think there's support there. The floor tends to be inbetween $5.95 and $6.05. Given the hype around this meeting, I thought we'd see the lower portion of the range. And I did say we'd recover to $6.30 within a day... I thought there would be a big initial drop.

Floors since breaking $6.00:
05/16: $5.96
05/22: $6.02
05/24: $6.03
06/05: $5.79
06/12: $6.07

Well, it looks like I was wrong. No 52-week high and no $5.95.

I hope you're correct but why do you expect that? What will the catalyst be?

A settlement with Countrywide would also be a big deal. For some reason I keep thinking that will happen in August but I don't know why I think that. But like Pepsi said, profit

Is a $1 range on a $6 stock "tight"?

The last stock you want to be compared to is FNMA because those common shares will be wiped out. FNMA is a fool's buy because you're just banking on people's irrational hopes.

You shouldn't be looking at how many shares to cover, you should be looking at the short interest. With an average daily volume of 6,130,638 as of 5/31/13, the days-to-cover is 5.87. That's above the average Dow stock but not crazy. I've read a days-to-cover over 8 is when you should start to take notice.

I'd like to see the list. Unless you can't list them...

How was that a type? the 1 and the 3 aren't next to each other AND $5.835 has an extra digit. You're full of it, just like when you were talking about a triple top breakout last week.

I emailed him. I believe their report is illegal but I do not know for sure. I asked for clarification.

You're not wrong but you will never see a penny of that if you own common stock because the common stock will be wiped out when FNMA is dissolved. That's the problem here.

LOL

I don't own any of this stock but I agree with you. $0.01 or $0.02 profit. However, I'm not sure enough to buy in. But I think turning a profit gets you to a high of $2.90-ish... people love it when you turn profitable for the first time.