Normally I laugh in derision when I read a post like yours- but in this case you are probably pretty close, as long as they don't sell to someone early.
A bit sooner than expected, but the 10.50 level was achieved. I would normally give the next move now, but as all these posts have gotten are thumbs down ratings, I won't trouble the board anymore.
As anticipated the stock retraced to the 9.75 area. It should soon retrace in this seasonally strong period to the 10.15 level, which is mild resistance. A break above to the 10.50 level prior to Jan earnings should be expected.
That was probably one of the best posts that I've read in years. One additional point could be also made- generalized funds will only allow a certain amount of funds to be allocated to any specific area (like Inet stocks from China); so with the addition of BABA to these funds, a reduction in others is intuitively obvious. This is no slight on QIHU, it's just a victim of circumstance.
A penny short of the 10.30 level, but close enough. The stock may break back to the 9.75 or so area before more solid support is found.
No real secret- Oil drops from 100+ a barrel to around 80. As the cost of production is rather high for RICE (and product sells for less than LSC) the stock price tanks. Now oil is rebounding and a spin-off is announced. Don't be concerned- look at the Jan 15 options. For the past few months large blocks of the Jan25 call and the Jan30-35 call spread were bought.
Don't know if any care about technicals, but notice that RF surpassed then pulled back today to a technical upper level (what was a floor back in Feb, May, and August). Any close this week above 9.75 would lead to a slight rally to the 10.30-10.40 area. As fundamentals are sound, it would be surprising if it broke down here.
i assume you had short dated options; that's why most people take losses. In my case I have 75 cents at risk and 15 months for it to play out (a GTC order to sell at 1.00 is in place). If my option goes to zero it would because RF has cratered. How much in actual cash would a shareholder have lost? It would be a great deal more than 75 cents.
Agree it was a bargain, but feel that the Jan 16 strike 10 calls were a good deal better. I was able to get mine at 0.75. Have a feeling that they will double a lot sooner than the underlying stock will.
The only one that worked well that comes to mind is AMR. The AMRQ's went from 25 cents to about 27 dollars. But they had a going business and were in the middle of a merger.
For those wondering what will happen to there shares, look at Kodak. To read about it, google "Kodak Emerges From Bankruptcy, Cancels Common Stock". That should pretty much clear it up.
Note that after a Chap 11, the stock will have the symbol GTATQ (designation for stock in bankruptcy); it will then be relegated to the Pink Sheets (they can't do a reverse split or any financial magic, so they WILL be NASDAQ delisted).
Normally new shares of the reorganized company will be issued- the current common shares may or may not be automatically switched to the new shares. usually not, but if so at a discount.
This is another example of Investor's fault- Don't buy on unsubstantiated rumors, don't only believe what you want to believe, and don't keep dreaming. GTAT promised nothing except to try- all the magnificent expectations were yours alone. How did that work out?
This is from Barron's Tech Trader Daily: "unnamed sources are cited as telling the authors that “Apple had been working with GT to keep it solvent. In addition, Apple hadn’t demanded repayment of loans as it could have, based on GT’s weak cash position.”
"The Company estimates that the net proceeds of the Offerings will be approximately $254,000,000" (see December 5th GTAT Press release).
What exactly did GTAT do with the cash?
Although GTAT may have a bright future, that would be for a reorganized company if and when they issue new stock. Sadly you are holding stock of a company that when BK protection is granted will be probably without value after bond holders are paid off.
If you are thinking that your stock will ever be worth $9 you have no understanding of how things work.