Just a thought.
RE:: Longs believe when Ullman farts, it's a good thing.
Actually, we believe that Ullman is having explosive diarrhea on his shorts.
I too! lib, and have probably made every mistake along the way, my last one being BBRY. The first 2 things to recognize is that:
1. Just because it's a tank, does not mean its a buying opportunity.
2. The natural tendency of every stock is to tank. Most companies fail. They are spending YOUR money, and as new investors move in, they spend THEIR money.
In order to mastor the tank, you have to apply WIlliam J. O'Neil's CANSLIM factors. I see the new CEO and his faith in the company to turn this thing around, the "N" factor, as the most promising one here. I also recognize the concerted assault on this company by the press and those with the power to bring down the price into its current oversold condition so the risk at this point is extremely low. In at 8.11, I now also have a cushion.
This stock has been heavily manipulated and way oversold. It has been under attack the last two years in a raging bull market. These situations begin with only one or two disappointing earnings reports causing some long term holders to sell large positions. Hedge funds then jump in and work directly with the press to highly overstate the actual condition attracting steadily increasing sellers and new short positions. The stock bottomed out in the 6’s in a complete wash out of long term holders and has finally turned around only in the last couple of weeks. JCP is now being controlled by an entirely new mass of new longs such as me, who have learned to master many of these tank opportunities. We are not selling and will ride this into the 40’s as shorts are forced to close or reverse their positions. If you were fortunate enough to short this above 15, I would advise you to take the money and run before your buddy, since these daily steps to the upside will continue to dominate the current trend. With the major indices becoming overvalued, JCP represents a rare opportunity to capitalize on the current economic turnaround. The feeding frenzy is over and we should see JCP return at least into the 20’s in 2014.
RE: I go play tankers now. That's it! in this market. Major indexes overbought. Mastor the Tank is the ticket.
Friday should also be a good day here.
This whole hype situation is beginning to remind me of the nano craze not too long ago. Yes, there are many viable new technologies coming to fruition. For each company though, it's a matter of who are the leaders and which ones will survive. The major players are always on top and there's very little chance of a newbe coming in to take market share from the likes of 3M, PG, KMB, etc. The best they can hope for is to have some kind of patent tech that may be seen as worth buying.
when you sell, you can buy immediately with the unsettled funds but you cannot sell again until the original sale clears or you'll be docked with a 'free ride". Do it more than once and you'll be blackballed
Would be nice to go up 1 to 3 percent every day but that asking for just a little too much.
Debt is called operating leverage and boosts the share price. Finance 101.