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.
Based on the price increases - some of the larger holders may be doing their new stock value calc's which is taking advantage of the low prices of the current stock.
I would think that is PR worthy. I'm wondering if normal business operations is different when in Charter 11 (i.e., like not doing the quarterly conference call and earnings report)
Hopefully everyone who as asked the same "opt-out" questions have taken the time to read all of the responses that explain your options. The guy with the 350s, god I hope that is a tongue in cheek post, otherwise he has another concern.
I guess we sit and wait and see what happens, I'm not sure what type of week this will be.
One thing that I have not heard anything is the Louisiana Asset sale which I thought was suppose to be done on 3/15. Hopefully they can push one thing through.