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All the common shares canceled now! 100% loss for the shareholders!
TBSIQ: Plan of Bankruptcy Effective. Shares have been cancelled. Deletion time: 11:08:26
http://www.otcbb.com/asp/dailylist_detail.asp?d=04/16/2012&mkt_ctg=NON-OTCBB
~ $TBSIQ ~ Possibly going long scan results (Daily and Weekly) for for the week of March 1st 2012 - Daily and Weekly views.
Chart results for you to ponder with me.. These are technical scans only, Click next or previous at the top of the page to see my others. Twitter: @MACDgyver ---> TBSIQ <---
Keyword: MACDscan ----> http://tinyurl.com/MACDscan
Another new 52-week low 0.036 was created so far! The pos scam will soon be worthless and completely wiped out per the court files...
Another new 52-week low 0.042 was created so far! More new lows will kick in since the pos scam will soon be worthless and wiped out...
Another new 52-week low 0.047 was created today! More new lows will kick in with the pos scam...
The CH11 court document...
Where did you see information about no distribution to share holder?
Thanks
Another new 52-week low $0.05 was created so far! More new lows will follow up with this CH11 pos scam very soon...
New 52-week low $0.06 was created so far! More new lows will follow!
In fact, as traders, we *hope* this is a "false" bounce! We trade the bounce, selling into it and then buying back lower and waiting for another bounce. Wash and rinse, wash and rinse....
I have already sold the initial "bounce" and bought back in.
In the past three years I can't tell you how many times I have bought and sold all those "false" bounces in all those varies types of Lehman stock, especially the CTs. Same thing with Chemtura and many, many others.
Thank you, but that's the known risk you take when you trade bankrupt stocks like this. It's not like trading any other stock. You must be nimble and prepared to lose. You know that going in. I've traded hundreds of these bankrupt stocks and made good money on over 80% of them. You can't ask for more than that. And I've already made some decent money on this one. It could go a lot lower first, but there is still money there to be made, IMHO.
That being said, I realize that the vast majority of these companies common stocks will eventually be worthless. Even those that eventually come out of bankruptcy, typically issue new common stock and have the old declared worthless. It's a game of musical chairs. Just don't be holding too much when the music stops.
I wish you lucky, not trapped in the false bounce!
Waiting for the volume to settle down and find a solid bottom. After that will be flippers dream.
Because we are not *investing* in this company, we are merely *trading* it's stock. Plenty of long green to be made trading this back and forth.
CH11 filed today! No any distribution to the common shareholders! It
is completely worthless now. Why people still buy th trash shares at the ridiculous high MV $2.3M?
nothing for shareholders
if the plan is approved. 15 cents but I doubt those levels will remain.
Yup, threw non insider commons under bus
Especially after giving a teaser yesterday. Dirt bags
Nice back door go private transaction via ch.11
"the plan restructures TBS International as a private company and pays current stockholders nothing."
Roger that dav, thanks for heads up!
company filed ch.11 yesterday, not a chart play anymore
$TBSI Nasdaq issue PR's CHPT 11 BK in AH @ 7:13pm !!!!
Should drop like a stone. Get your catcher mits on!!!!
MAJOR Bounce play tomorrow in Pre-Market !!!!!
TBSI wins scumbag award announcing BK Chapter 11 AFTER market @ 7:13pm !!!
Shorts covering? Don't think so as shorts interest on this pos is low.
What's today's volume about????
CRAMER thumbs up on dry ships
http://www.stockpickr.com/barrons2/portfolio/cramer-s-dry-ship-stock-plays/
TBSI finally something good to work with http://seekingalpha.com/article/277342-no-sign-of-drybulk-recovery-but-dryships-tbs-international-are-performing-well?source=yahoo
$TBSI
YAHOO SINGAPORE FINANCE (AP) --
An analyst on Tuesday cautioned that shredding overcapacity could force scrap metal companies to pay more for materials and in turn cut into their profits.
U.S. shredding capacity increased significantly after scrap prices and supply jumped in 2007 and 2008, but the supply of metals has tapered off in recent years and the owners of those shredders are being forced to bid more aggressively for the materials in order to keep their machines running, Cannacord's Eric Prouty said.
"In this hyper-competitive environment, generating sufficient volumes has become the topmost concern for some operators, often superseding margins/profits as primary business decision drivers," Prouty wrote in a note to investors.
The analyst pointed to Schnitzer Steel Industries Inc., noting that while the company recently said it hasn't had any problems with overcapacity, privately held West Coast Recycling Group plans to build a shredder not far from Schnitzer's metals recycling facility in Sacramento.
West Coast Recycling appears to be encroaching on the Northern California territory of both Schnitzer and Sims Metal Management Ltd., Prouty said.
"It's too early to say what competitive impact West Coast Recycling might have on scrap availability in Northern California, but again, this issue of shredding overcapacity isn't likely to go away anytime soon and is an industry issue definitely worth watching," Prouty said.
$TBSI (11:00AM YAHOO " major selloff in transportation sector and monsoon season starting may effect dryship business"
Thx my friend. You are very kind.
good call
Wow - nice price action the last few days here -
more dillution coming. nice end of the month window dressing today. to bad its short lived.
picked some up today , will hold to see where we go from here, I too like the look of the chart and we should see a little bounce up from here.
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