the panic is over, that was back in August(those were the rats telling you the ship was sinking), this is clearly a get out NOW if yo want any of your capital remaining the ship is seriously taking on water.
if AM Best Downgrades them (and it is almost a guarantee), it is game over, they will not be able to write any new business
Remember, nothing goes straight down...wash rinse REPEAT
Shorts are covering a bit on the way down i'd think, I know I am covering a portion of my position to trade in and out, it will go to $5, just give it a day
Do you have an affinity for Co's going BK or something? Did you used to own GM or LEH? This is called a lottery ticket, nothing more.
WEAK WEAK WEAK... Understand, yesterday was a DEAD CAT BOUNCE to get out or get short
if its only that bad, why would they be desperately shopping the company around... that doesn't add up at all, let's use logic here, and price is indicating there is something VERY rotten going on behind the scenes. They need a bailout like AIG, and a reverse split to get the stock back above 12... they're screwed
In fact it does, as TWGP has fallen off a cliff, the sound it makes is BOTTOM CALLERS squealing all the way to ZERO. Look back to the 18th of SEPT, "wayy undervalued..." blah blah blah, and they're back at it again here at tasty resistance of $8... The bottom is in you say?
It has FALLEN OFF A CLIFF FOR A REASON, It's Garbage and is not just gonna suddenly rally 200%... IT IS BROKEN and probably BK, we'll see.
News flash, the earnings rel on oct 7th is not going to be good. I would even surmise that it doesn't happen and they delay AGAIN... don't think it can't happen?!
were the shorts wrong on enron when it was collapsing to ZERO? How about Global Crossing? Health South? Oh tell me oh wise one, which of those would you have bought because they "looked cheap" and are "down too much" or they "have to pop from here" ... General Motors? Take your pick, and there are plenty more.
Ask yourself, were these shares perceived cheap at under $14 per share? how about at $12? Nah, $10 that was a good place to start buying...whoops, surely $8 they are as low as they are gonna go...RIGHT?
This company is BROKEN, and it is reflected in the PRICE...It's been 2 months since the initial breakdown and there have been small bounce along the way. Look back to september 10th and I am sure there were sheep like you comin in and buying because the shares were "cheap".
But surely they are in rally mode now. I've been at this game long enough to understand, everything you need to know is in the price. The big money knows this thing is broken and is going BYE BYE. This reinsurance deal is a tactic IMHO to buy time waiting for the inevitable.
That's not to say there wasn't a trade down here, and it happened, from 6.58 to the 8.10 high today...nice move, a 22% pop. If you caught it, good for you, but there is more to the down side for this broken company. there never is just one cockroach...
I shorted more today fella, weakness begets weakness, It's not about being a PIG, It's about the price action... Price action coupled with the old adage "there is never just one cockroach" keeps this stock short. There will be a point to buy, but it is not here, not yet.
Yes, some guys got a nice bottom feed below $7, but we are up 22% from those lows, get it 22% in 3 days, talk about pigs, longs holding for a move back to $9 are basing it on HOPE, nothing else.