Another poor day for BTU. When we do have a correction in this market it will be very negative for BTU. You have to make money to stay in business. Most of these coal companies are going out of business.
Mark gave up is 2 billion dollar salary for the last purchase that he made for 2 billion. Small price to pay for a purchase that will return 50 billion. Google and Facebook appear to be on the same page. These folks are changing the way we do this around the world.
These are a lot of shorts covering. I know that I covered the rest of my short position yesterday at 60.10. Big money has been covering a lot of their initial short that they shorted between 70 and 72. I have covered all that I had short but they may have only covered half and may short more in this 62 area or if it jumps over that in the 64 area. There is still a lot of time left in this month before earnings for ups and downs.
Will be interesting to see what wall street does. I covered some at 59 and some more at 60.50. If it looks like it is going to close above 62 I will cover the rest. They may take it down to 55. I have no idea what wall street is going to do. FB does have earnings coming out the end of April. I anticipate they will be good. They may already be priced in and wall street will be short and take it down. Maybe they use it as an opportunity to take it higher than 72. Less than a month before earnings gives them lots of time for big swings yet.
You folks are so funny. Both correct and both funny. Some on wall street are good people. Possibly sometimes wall street doesn't control your stock on a particular day.
I think that you are correct. There are no real buyers in coal companies as an investment. What you will see is a manipulated market of jumps like this morning that the big money moves off the offer to jump the price up. Then the sell and short. Future of coal stocks will be lower highs and lower lows as the big money continues to make money trading on the way down to bankruptcy for most of the coal companies. Coal companies continue moving down on a going out of business sale not a stock market crash that we witnessed in 2008.
You are correct but when you are in a stock that has this much selling why not play it like you would if it were long. Put your stops in and lower them as it keeps falling. I know I had a stop at 62 today and when it couldn't take it out I shorted more. It could be 70 again in July like you said.
FB is reminding me of a lots of stocks on Friday afternoon in 2008. Thinks we see some more of this. The difference will be that the stocks will be more isolated. It will not be the whole market getting crushed.
Continues it's downward trend. Still have nearly an hour and a half before close. Will be interesting to see what FB does. It has had quite a fall in the last 2 weeks as it is. Admit I am still short.
When it couldn't get over 62 didn't look good. Shorted again at 61.75. Wall street has it short so might just as well do what they do. The do not lose.
It takes a lot of shares to move it up. That is because there are lots of shares for sale so a bunch of shorts get to cover. When they are done. A number of new shorts or existing shorts shorting more sell on the bid knocking it down quicker. When you control the market they say that it is a lot fun..
Do not think that Zuck is too worried now or when the stock goes to 40. This is not Zuck. This is the wall street multi millionaires shorting. It really is not much different than Madoff but wall street identifies it as legal theft. Cheer up as it is going to get worse. Watch it fall.
The financial institutions will not be able to make 100 million a day trading on the long side. The liquidity that has been provided by the FED to keep the stock market running nearly straight up for 5 years is diminishing. Consequently they have to identify certain stocks that they will make the 100 million a day by colluding to short them. FB happens to be one they have chosen at present. They will not do a 2008 crash where they short the whole market. It will be done on an individual basis with stocks that they have made billions going long. I look for them to then cover a bunch and go long again. Then they will short again and cover. Of course this will result in lower highs and lower lows without a stock market crash. They dropped FB from 72.50 to 58 in just over 12 trading days without any negative news. Be careful out there. They will make their money and you know whose money they will take.
Even UBS is up today and C continues down. When the CEO has to rush home from the EAST it made for a no brainer to short again this morning above 47.70. Covered here at 47.15 as they have a tendency to move it all over during light volume lunch time trading.
They thought they would not meet earnings and were wrong. Now they have to take it lower to get out without a loss. Wall street at it's finest.