These fools thought hiking the dividend would halt the slide of the stock! ONEOK should cut the dividend in half, preserve capital.
My condolences to all Macy longs.
Now please keep in mind "Wrong Way" Finerman also loved Crocs just before the stock plunged more than 50%.
I realize this is a seasonally strong time of year for stocks and algorithms have this reality plugged in. I also comprehend China, Japan and Europe will continue to press on the gas peddle via QEs, negative rates, stimulus programs fueled by more debt et cetera. Many shorts have had their heads handed to them over the past 8 years in such environments where fundamentals have no bearing, where Central Banks rule.
But with that said, I continue to see cracks in the armor, specifically in the credit markets where credit spreads continue to widen both in speculative and investment grade IOUs. In the past, Central Bank intervention lifted all asset boats, this is no longer case. Debt holders are finally demanding to be compensated for risk. A major game changer.
Equities have risen quite dramatically from the recent lows, but the breadth and volume has been pathetic, with fewer and fewer names leading the charge. More important the stress in the credit markets has not alleviated, in many cases growing worse. A stronger Greenback will add to the misery, especially in the critical commodity sector and the $9 trillion foreign debt denominated in U.S. dollars.
Corporate balance sheets are now highly leveraged courtesy of stock buybacks financed by debt. Yes, this artificially improved earnings but has left many companies exposed to any unforeseen negative events or economic downturns. And now with rates rising, especially in corporate debt, this buyback game is no longer feasible.
Finally how long can nations continue deficit spending with debt to GDP ratios already breaking 200% of GDP in many Asian nations and over 100% in many developed countries? I foresee a major capital flight in Asia in the coming months as the dollar spikes, China forced to devalue the Yuan in a major way. This will be the catalyst in my opinion for the major equity selloff worldwide. Keep an eye on oil prices and junk debt, the canaries in the coal mine.
The days Of PFE MGT jacking up existing drug prices 10% plus a year or purchasing other pharma companies to compensate for a pathetic R&D program are over! America will not longer stand for this corrupt system! Time for PFE shareholders to bare responsibility for endless R&D failures!
My first post of an impending correction was late July when the S&P 500 was trading 2132, the day after I made that prediction the S&P 500 began it's rather dramatic slide to 1870. Admittedly I was rather surprised we bounced so hard off that low to breach the 2100 level again. I viewed that move as a suckers rally and knew it could not maintain that momentum based on the continued stress in the credit markets (and other reasons I gave above) hence my post dated Nov 11 stating we are fast approaching a severe downturn. Since the warning the Dow has fallen nearly 800 points in a few short days.
Thus far even though the indexes are down sharply from my original call, my prediction the S&P 500 will fall below 1800 by February of 2016 has a longs ways to go and is certainly a contrarian view among the vast majority of analysts. But I still strongly hold to that belief based on what I am seeing in the credit markets. The pain in distressed debt is going to see another major leg down in the not too distant future, the commodity names leading the way. This debacle will spread throughout the entire credit sector, pushing equities significantly lower.
My other major concern are the Asian markets saddled with huge amounts of debt, slowing economies, and flight of capital. It is only a matter of time before China will devalue their currency in a big way, this will prove to be a huge negative. The timing of this event much harder to predict but I believe it to be a certainty.
Trader I would hold your point of view that it is a fool's game to go short during an election year, at a time the Central Bankers continue to provide liquidity, QEs, negative rates but I am wagering the recent activity in the credit markets are a game changer, an indication the Central Bankers have lost control. As far as your short view, plenty of shorts hold as a hedge or conviction, not simply a trade. Interesting, short interest has hardly budged despite the recent run-up from 1870.
Let's face it Legere is a crass low life, peddling a highly inferior network that has no chance of catching up because T-Mobile can't afford to bid on spectrum.
Plenty more downside on the way.
Especially when your debt is rated junk and the company is on the verge of bankruptcy. The latest promotion truly a desperate measure and Wall Street is punishing the stock.
It is very troubling the Sprint message board is infected with two paid pumpers who spend their days relentlessly spewing the company line. I thoroughly understand their rhetoric is crude and sophmoric, content and worth certainly not a consideration (must be compensated by words typed) but even this low level brand of shameless pumping might influence the most unsuspecting, foolhardy, neophyte investors who are completely unaware of Sprint's impending doom. Once again, much appreciation doctor copper for your alert, very gracious of you.
It was back in late June of 2014 I first came to realize the Sprint message board was under siege by what is best described as a terrorist insurgents. I was sickened and appalled at the level of brutality employed by the likes of Mr Whigglee and Greekmonster against those who dared questioned the financial health and valuation of an exceedingly dysfunctional and money losing telecommunications company.
Since that revelation Sprint stock has fallen more than 50% and sadly the degree of barbarism has grown exponentially, vicious attacks continue unabated, day and night as Sprint's demise marches forward. I am of the firm opinion the shameless pumpers on this board were issued some type of decree with the promise of a beautiful afterlife post bankruptcy complete with 72 virgins. This could be the only explanation for their extremely bizarre, maniacal devotion to their cause.
Credit spreads continue to widen, junk debt under siege, illiquidity growing. Would not be surprised if we see markets turn bright red near close. This cannot continue.
This is truly an outrage and has been going on for decades at PFE all at the expense of shareholders and consumers. PFE cannot continue to jack up existing drug prices 10% plus a year to finance this insanity, to mask incredibly inept mgt.
By far, the worst mgt in the industry.
Simply a friendly reminder, please remain vigilant to elevated terrorist pumper activity, Whigglee and Greekmonster are extremely upset they have been exposed today and will certainly seek retribution. My prayers are with you all as all good posters fight this ugly movement threatening to dislodge honest discussion and truthful discourse concerning the direction of Sprint.
What is even sadder, the Sprint message board continues under attack by shameless pumpers who have ridden this PIG down to these lowly levels. Anyone foolhardy enough to buy into their terribly misguided soundbites have lost a great deal of money. It speaks volumes to the character of these pumper cockroaches that they would continue the barrage of nonsense despite being proven terribly wrong time and time again. Extremely troubled and dangerous individuals with a very dark agenda.
I understand this unscrupulous activity takes place throughout the Yahoo message board world but certainly not to this degree. To think, we have two Sprint pumpers who have actually taken up residency in this house of ill repute for the sole purpose of posting lies, half truths and misleading harangues full-time is absolutely reprehensible.
The truth be told, Sprint is a highly dysfunctional telecommunications company owning a market cap of $15 billion yet saddled with over $32 billion in debt, those IOUs rated deep JUNK! Sprint's present business model is to sell their product below cost, watch cash flow disappear and continue to endure huge losses each quarter! This sad reality occurring while their competitors who actually have access to the credit markets at a reasonable price build out their all important network.
It is no surprise Wall Street saw right through Sprint's latest desperate promotion and financial engineering and have pushed the Stock well below $4 bucks a share. It is a fool's game to focus on Sprint's few assets and yet ignore their fatal debt loads, negative earnings, their sky high cost of capital. Wonder why Sprint's stock has fallen over 60% the past 2 years while the market nears all-time highs? Simply read the previous sentence again and again until it sinks in.
Ah, the resident Pumper himself. I am becoming more and more confident Mr. Whigglee you have endured some form of severe brain damage in your lifetime resulting in a radical medical procedure most likely a lobotomy in your case based on your endless droning, incredibly boring and highly predictable proclamations that you feel the need to grunt hourly, every day, 365 days a week. You are not Mr. Whigglee but Mr. Rogers highly sedated. I suppose I should take a more compassionate tact dealing with someone in your condition but you are just so annoying. Here is some sage advice...Get a life! Even it means playing dominoes full-time with the Chief in the rec hall at the institution. They must have activities planned you?
Whigglee, can you be anymore dense? Seriously, is this suppose to be some type of clever jab? What does my feelings about Legere, T-Mobile have to do with my opinion of Sprint?
I must of missed the flash price of 5, 6, 7 or 8...Did anyone else see it? I am looking at $3.85 down 5.5% for the day.