I moved all my SD holdings over to SFY. Now I'm sitting with some base stock priced at $23 and whole bunch of future options. I don't think I will recoup my full loss in SD and SF, but it will be close after a few years.
I was thinking of buying some SD at the $.02 cent level. It seems that the BK Consulting companies are converting debt to equity, so if they don't wipe out the common shares - we may recover fairly well.
If no one has - then I'll call him.
Cramer seems to have his own agenda and why put this company in front of a loose cannon. We are in great shape - we've come through the BK Tunnel and its going to be all sunshine.
I normally don't take any advice from a Message Board poster, but when the stock was down to the .08 cent point. I had asked Crabby if he was buying - which was Yes. I bought 40k shares thinking that this would be a weekend vacation that I could loose. I'm feeling the same as you guys - we could make a boatload of money when the market comes back.
Market is showing that supply is dropping off and Demand is increasing faster than the predictions. Imagine that!
When I try to correlate the NewCo stock price of $23 vs 0.22 cents - I thinking that a double is possible in next 1-3 months.
I am glad that I didn't liquidate this stock when everything looked bleak.
Sentiment: Strong Buy
In reality it doesn't matter. I doubt that any of us who have held and bought at the super low prices are going to sell before we realize the longer term gains when the market recovers. I think we are in for the next 3-4 years.
Only thing I can maybe guess - is the number of nightly batch cycles to zero out accounts then apply the new # of shares, then the share values. I would think everything should be done by Friday Trading.
No it just gives me the number of shares with no values - its interesting is my cash position is lower than my cash last week and my overall balance is nil.
Question - I'm seeing three different symbols -
SFY# - first one with a low number of shares,
SFY## - with ~5.4X the SFY#
SFY## - same ~5.4X the SFY#
So not clear if the SFY## are 2019/2021 Warrants.
At this point the day to day market is not going to change the stock price - but it would be nice to know what the outcome is for our current positions.
I still have the SFYWQ - it still lists my old number of shares - but my position level is 1/10 of the previous day. So what is everyone else running into?
Couple of new variables - first is the exporting of LNG, second is the switch over of Coal to NG. The summer cooling is all Electric Power Generation. The reduction in drilling rigs is going to catch up and the economic implications could be supply imbalance which seems to whipsaw the commodity prices.
I'm hoping for a pricing rebound in FY17 and beyond. It would be nice to recoup some of the loss over the last 2 years.
Thanks for the reply. It seems the Message Board has lost sight of the Short situation since the Chapter 11 and your points confirm what I was questioning.
Hope I'm not showing my ignorance but I'm assuming the short positions before the Chapter 11 carried over to the current stock symbol, so this short position level will also carry into the new stock issuance? And with the though of BK Chapter 7 off the table for the immediate future, wouldn't we expect to see the shorts covering? Appreciate a response by some of the people that seem to understand this very well.
You wonder what the person was thinking when they sold on the approval of the reorg plan. He who sold just lost 100% gain. She who bought just made a 100% gain.