Is it over 8 yet? You said it would be over 8. Not there yet? Probably just slowly climbing up there I know. Oh wait it's not climbing it's falling like a bowling ball from a helicopter. Straight down. I keep telling everyone DO YOUR OWN DUE DELIGENCE. Don't listen to the idiots on this Board. Yesterday's news was not good by any matrix. It was good for PWE but not comparitavely so. I still see nothing that will prevent this stock from going down to 1 or 2 then ultimately into bankruptcy. Sorry longs. YOU NEED TO READ ALL THE INFORMATION THAT COMES OUT AND UNDERSTAND THE INDUSTRY before concluding that news is "great". Professional traders are not digesting the PWE news. People who trade EXCLUSIVELY stocks in this industry. The result: Down more than 5%. They know. They understand. They see. Headline numbers mean nothing
I do it with such rapidity knowing that with each push of the button I am making money that I am scared I am going to miss the keyboard one time and hit the crown jewels! Pants therefore are recommended. Although I guess I could forgo the pants and just where a Jock. May scare the kid though.
Yes you can. All you have to do is get up in the morning. Put your pants on. Sit down at your computer. and keep hitting SELL SELL SELL SELL at the PWE trading window. SHorting PWE is like having an ATM in my house.
I shorted in the 7.80 ranger originally covered half my position in the 7 area. So ive made profits. Reshorted again at 7.70 area will cover again when it goes back down to 7 or below. There is no way in hell this stock approaches Double Digits let alond 12. EVER
But of course my short position continues to make me a ton of money. To all you fools who told me I was wrong shorting at yesterdays rediculous runup. GUESS I WAS RIGHT AGAIN
Hs Im already up several hundreds of dollars on my short for today. How are you longs doing. Recover a portion of your 22 buy price today. Now you are only down 70%
Got some more short at 7.72. Basically put on the same position I had covered a while ago. Now fully vested short again. Will just sit and wait for the 52 week low coming here shortly
Its MOMO is gone. Last two days are the peak for the next 20 years. You can short this with complete confidence and safety. This will never break 17 but is likely to break down into single digits in the next 5 months
If I were you I would stop investing my own money because you clearly have no clue how accounting works or what creates value for shareholders
My point was you can have assets and still be destined for Bankruptcy. Enron and Nortel both had assets. Both cooked their books to hide how bad the other half of the balance sheet was. DOES THAT SOUND FAMILIAR. I don't know, sounds exactly like PWE to me.
Hmmm. It's bankruptcy filing sworn to under oath said it had 62 Billion in assets. Of course I doubt all those attorney's and receivers who had to submit that information to the court would know as much as you
Enron had assets. It had billions and billions of assets. It's just that they hid liabilities and created phantom income through improper revenue recognition. Creative mark to market accounting if you will. Hmmmm sounds familiar. Where have I heard that recently.
Yes go back and look at the enron and nortel charts. The last months of their lives they lived in "oversold" technical territory. Did you scoop big chunks of those stock up? You can't look at technical analysis when you are facing the accounting problems confronting PWE
Wow. At issue in those cases were not security disclosure laws. They were a variety if laws dealing with fraud on actual sales securities. Look at Ackman and CarsonBlock. They heavily short a position then go out and issue reports that say the company's they just shorted are complete frauds. The stock tanks and they make a ton of money. Nothing illegal about that.
No news is not good news by any means. To me me it's an indication things are much worse than they epexcted. I'm still looking for write downs or write offs of close to 3 billion or more. An immediate call of all it's credit lines and a bankruptcy filing by year end. That's my investment thesis and the reason I remain heavily shirt.
there is nothing "illegal" about that. It could give rise to civil liability to its clients who maybe purchsed a long position in BAC but there is nothing criminal about it. GS owes no duty to the market in general
You are exactly right. Here is what is going on.. GS knows this stock is going to drop big over the next 12 months. Possibly to the low or middle single digits. GS has done iits DD. It knows BAC still has close to 1/2 Trillion in toxic loans on its balance sheet that eventually someone is going to sue them over. They issue a buy recommendation to allow their clients to get out at a higher price. Probably close to 17. Meanwhile they are selling short like crazy. You just watch. WIthin 30 days, this will start its decent towards single digits.