15.98 x .8 = 12.78. Full disclosure, I am short 10K SHARES VERY NEAR the top......but maybe you should wait for advice from Don Cassel!
MacNeil Curry, Head of Global Technical Strategy at Bank of America Merrill Lynch, says there are three reasons investors should get ready for as much as a 20% correction in the markets this coming year
They have 95.6M in cash and an operating cash flow of -66.3M. They have pumped the stock to get a better price per share on the comingin share offering to raise cash, also when the price drops after the dilutiion it will fall back in line where the price was a month ago. They have a ways to go and will need cash, and these companies take advantage of good news an an opportunity to do so. I will cover my short at 48.00.
I shorted 500 share thru TDAmeritrade at about 7:30 am pacific itme today, then I tried later to double down but there where no MORE shares available. More can come available the demand to short is high.
You can't tell if it will dump yet, just because it held on today. Take a look at VNDA it poped almost 100% on about nov 11 and climed for 3 days and now look at it. I jumped in on the day of the pop and shorted at 13.55 and it went up to 15.65 before slowly droping below 10 today (I closed my short with almost a 10K profit). This stock with less than 4 dollars per share cash could very well dilute and it still has a way to go on the getting this to aproval. it could go higher but will take more good news to hold.
A BIO/PHARMA with big pop at it year high with no drug approval and someone named "doc" posting.
The pump and dump team is here and I just shorted 500 shares. Thanks "doc" for the 10K profit over at VNDA.
No #$%$, the point is when you have settlement waiting for judges decision and headlines are that you can not commit to past terms you best not be expecting the judge to view you as upstanding corp citizen
Top U.S. banks, including Bank of America Corp and Citigroup Inc, failed to fully comply with a government settlement to correct mortgage servicing abuses, a monitor of the settlement said on Wednesday.
"The underlying issue before the court is relatively straightforward. Governed by New York trust law, Kapnick must decide whether The Bank of New York Mellon, serving as the trustee over securities backed by Countrywide-issued mortgages, violated its fiduciary duty to investors in the securities by entering into the accord with Bank of America. That is, given what BNY Mellon knew at the time, did it act reasonably in agreeing to the terms of the deal"?
it is you Don, that has no clue
Please share with us Don, what it is you think the judge is to make a decision on..... I bet you don't know
It is the ongoing issue that is wAiting for judges final decision. It is not going to go in BAC favor and the stock will drop 2 to 3 dollars per share. GET OUT NOW you have been warned. Simply google BAC 8.5 billion settlement and do your own dd .
It is a valid post based on a major financial publication headline. Ajman destroyed the company not posters on a message board. You don't like the posts. Then stay the F off the message board beaaach