If it gets there today I think I'm going to gamble. Looks like short covering and this should get on radars soon after that #$%$ is the next test and it's open game to low $7 range after that.
I'm shocked...seems a bit premature but here is the feed: Wonder what "respectable" is to this guy?
** TOWER GROUP INTERNATIONAL LTD, $4.22, up 3.4 pct (11:04 a.m. ET)
Analysts at Guggenheim Securities upgraded the insurance company's stock to "buy" from "neutral", saying the company could return to profitability within a year and produce a "respectable" returns on equity by 2015 by focusing on its core personal lines, small commercial accounts.
I can't find that...If you have made money on this you best cover soon I think...they will sell first before BK anyway. Some have upgraded and this might see $7 in a few weeks. I might jump in here... the falling knife may finally be done.
Yes - something is very wrong here...this thing can't even breath upwards on thinning ask. Watch for another high volume pounding downward. Must be more margin calls today.
You serious? How are you rich when it's at a 9 year low other than shorting?
I'm thinking of changing my entry plan...maybe a double bottom at 8.36 and it goes. Bit riskier entry than I like but payoff could be big in a short time.
Based on volume drying up and options activity you may have to bump that. I'm still waiting for momo somewhere in the 9's. I suspect most recent activity to still be shorting and the panic selling might be done, if so the next few days will be fun to observe.
I agree with you, it's a value play from what I see. What I'm paying particular attention to is the market as their price decline reflects about 5 times their worst case scenario on reserve adjustments. For me there is not any support area to consider an entry unless it holds today and passes yesterday's close which will be a tough battle...and even with that, your hoping for news that likely will not be coming before earnings. GL
Too early for me. I plan to wait for momo in the low 9's if I like what I see. Too risky right now but GL to you if you are in.
I think they were pressured to release something more specific by the hedgies and mgmt stood firm on their PR of a few days ago so they paid swiftly and dearly for that. Now it seems the shorts might be controlling this as there is no reason to buy this at the moment.
Or possibly lower and sooner...this seems to have no bottom. I'm not quite understanding it...I don't see this as a huge viability concern but wow the market is making them pay dearly.
The fact he is staying until next Fri makes it clear there's no fraud as the board would have to get rid of him asap if that were the case.
Surprised this guy took the fall...Lee must really be #$%$ about his personal losses.
Well I was waiting for $9.25 or so to buy but your presence and repeated posts makes me think lower that target to make you cover higher...lol
Thanks for sharing...I was thinking same thing. Not sure what 100MM writedown is to a company with 4.7B and revs over 1.9B to justify this decrease unless I'm missing something obvious besides trust. Might jump in if this shows signs of reversing in hte next few days