I like to GNR8NRG
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I still want to sell Solta and buy back BLCO if we can't distribute the shares... This has been a MESS and GE/GEHC is how it should have looked but all the court cases crashed the ships together after 2 years of being 'stuck' we're looking like sinking ships...
BHC 6.60
200DMA 8.16
50DMA 8.73
BLCO 14.53
200DMA 16.11
50DMA 15.38
Blub...Blub...Blub....Down the drain she goes. lol
6 months later and we're right back where we started. Court did go out way but seems court cases is all this company can do...What a mess...
We did get that golden cross and the stock went over 11 in the past 6 months and I traded accordingly but YIKES!!
Yesterday I bought 100 next weeks 3.50's calls @ .16 and sold them today for .58
It's probably going to run but 4K for a day of play is too good to let go away.
Enjoy the run and have some fun.
Just looked and now the ask is .78 so left 2K on the table by not waiting. lol All good. =)
Well we're right back where we started. lol
BHC 6.88
BLCO 15.40
One week later and we're back in the old trading pattern...
BHC 6.95
BLCO 15.29
So we've reversed UNO'd back to the old way again. lol
200DMA 8.24
50DMA 9.08
BHC chart looks severely undersold but that doesn't mean it can't go lower. Was playing IRBT recently and 'how low can you go' was no joke with that one. Well at least this crash allowed me to get back in as I'd thought it was GONE after court went out way but now it's a long term hold IMO but getting extra's a 'flipping for freebies' is always a good thing.
IEP hit 17.84 to 17.32 with 17.40 at closing...
200DMA 18.07
50DMA 17.54
That .99 gap has closed to .53 but a POP is needed to get the 50DMA heading up in the right direction for a Golden Cross. Announcing a buck dividend would do the trick and if ER is good then 22-26 is possible IMO. Won't hold after ex-divi date but should make a higher 'trading range' than the 17-17.50 we were just in...We shall see...
Good ER but stock dived down, bounced up and down again...Hit 13.64 and closed 13.74
So that golden cross might be off the table unless it pops tomorrow if BHC doesn't distribute in 2024...
Tomorrow morning is earnings...
BHC closed 8.75 even though AH shows 9.48...
200DMA @ 8.31
50DMA @ 9.28
Looking to see debt paid off and news on BLCO spin which had a good ER but still went down and closed @13.74 probably expecting the distribution. We shall see tomorrow.
So what's happened since?!?
BHC is currently 8.71 but it did hit 11.46 just before winning in court over Norwich...
200DMA 8.30
50DMA 9.26
BLCO 14.79 but had gone up over 17.50 after ER...
So it was a good run but that doesn't mean it can't start another run...12.50 maybe 15?!? With Norwich in the rear view there's no reason for the trading ranges to not go to another level up...10's were the ceiling so if it does maybe 10 becomes the new floor...
Back in the day 22.50 was the floor...One day maybe it will be again...
Almost another year later and 88.7% of BLCO is still with BHC almost 2 years after the IPO just before the ER...
Currently BLCO is 14.79 with less than 5% short interest...10.5% Inst owned...
BHC is @ 8.71 72% inst/owned about 12% short interest...
Norwich lost in court recently and BHC had hit 11.46 a little before the verdict on a quick POP and it's been dropping ever since. Didn't break below the 200DMA of 8.30 but tested the 8.50's often...
BLCO @ 14.79 with ER next week...
200DMA 16.53
50DMA 15.89
Golden Cross may be heading our way...If the ER sends us up and BHC doesn't announce a distribution...
BHC currently 8.84
200DMA 8.29
50DMA 9.22
BHC got Norwich to not be able to make their generic in court but PPS not reacting yet...
BLCO reacted going down to 14 so maybe shares will be coming to BHC shareholders soon.
BHC 8.92 close
200DMA 8.26
50DMA 9.13
With not hearing anything about court this is headed to the 200DMA or previous lower trading ranges...UGH!!!
BLCO 15.64 which is below the 15.78 (50DMA)
200DMA 16.84
Tomorrow it could bounce but who knows need BHC to win in court vs Norwich!
BHC went down to 9.06 but 9.24 close
BLCO went below 16 but 16.12 close
BHC 200DMA 8.25
50DMA 9.12
Wow what a ride and now suing Amneal while waiting for Norwich verdict. They just don't want to let BHC shareholders get BLCO shares. Well I added back my BLCO today because if they want to bring it back into the fold it will need a slight premium so we shall see what happens.
Still in that 17 trading range...
200DMA 18.86
50DMA 17.87
So still got time but should run if divi is maintained...
BHC currently 10.02 waiting for news on Norwich court. Yesterday 4/3 we POPPED up to about 11.40 on good volume then came back down...I thought it was verdict on Norwich but still waiting but any day now...
200DMA 8.22
50DMA 9.02
BLCO 16.17 right between it's DMA's
Since ex-divi stock broke below 17 two trading days and is around 17.50 currently.
200DMA @ 19.23
50DMA @ 17.79
It's going to take time but one day we will see a golden cross here in IEP. Before then it will probably find a trading range be it higher or lower than last time I have no clue but I'm back in either way we go. Will add if needed on drops. Big POPS I'll probably sell so slow and low is a good tempo.
BHC @ 9.89
BLCO @ 16.47
BHC @ 9.89
BLCO @ 16.47
BHC @ 9.89
BLCO @ 16.47
Overall market making or near all time highs with NVDA ER...Been a good year trading in 2024 already...Seems like irrational exuberance, lots of M&A and I know a few people (retail) with FOMO who jumped in...So time to take a break before it breaks. Still holding some stuff but not like I was at the start of this week.
Both BHC 9.23 day of ER and BLCO 17.04 day after ER performed well...Traded accordingly
Good ER and more than a buck higher open it looks like. I sold too soon as always and also I sold a 100 calls so that's about 20,000 I would have gotten more had I held 1 day longer. Still got my 'core' of calls that are good til there end of the year but these results are really good. Stock should be fine moving forward until BHC shareholders get the BLCO shares and then it will probably sell off but recover and make new highs at some point. =)
Sold all 10,000 BLCO above 14.50 just a few cents higher than my cost after flipping so many times. Have good chunk of calls both ITM and not. Just felt I had WAY too much in one stock with all these M&A deals it seems like a 'top' is incoming. So as of now I'm about 20% in calls and 80% in cash... Was 15% cash and 85% invested this morning. Good luck tomorrow and the chart looks really good to run to 17's in the coming weeks as long as tomorrow doesn't surprise to the downside.
Hit 21.06 and the 200DMA is 21.05....Next week could be a hell of a ride...Watching and waiting.
Sold those BLCO's .30 higher today...Chart looks GREAT on both BLCO and BHC but overall market feels really wobbly/frothy still
Hit 20.81 so far today. Decided to sell my Friday 20 calls for .50 as I got them for .15 so more than 200% profit is how to not get slaughtered. Also saw a 'gap' just a hair under 20 as it opened and gapped up with range so far of 20.27-20.81 so I'll wait and see if that gap fills first.
DOW down 700 1.83%
Bought back my BLCO .50 cheaper than I sold them for yesterday so that's good but overall market will be interesting this week. Could fall off a cliff or bounce right back up to the highs. lol
BHC@ 8.27...Was hoping for a fast touch to the DMA's but it didn't happen. Haven't added back the calls I sold yesterday but still have a core and some flippers in case things go good with the ER.
Yesterday BLCO hit 14.66. I sold a good chunk @ 14.50 even though I wanted to keep it but got it back today @14
Chart looking like a nice set up into and after earnings next week. We shall see but I've flipped enough times and lowered my average so I'm feeling good. If it tanks on news of BHC shareholders getting BLCO stock my BHC will rise/rocket and I can either hold that for the BLCO shares or trade them accordingly being I already have BLCO shares. Or buy the shares back into BHC and that works too. Stock too cheap down here under 15
DOW down 430 over 1%
Nothing like a down market to slow your roll. lol Hence why TRADE ACCORDINGLY and don't 'fall in love' with your stocks. BHC touched 8.10 but doing better @ 8.22 Had it went below 8 I'd added but now I'll wait and see how overall markets play out the day. Went about 50% cash yesterday so might add back plays I lightened up on yesterday. However nothing wrong with sitting on dry powder as things shake out as I'm still invested, just not ALL IN.
8% not 9% my bad
Oh yeah stocks don't trade on weekends. lol
BHC 8.41
200DMA 7.84
50DMA 7.85
Lightened my 3/15 (8's) as the premium was almost .38 higher than the stock. If bad news they'd expire worthless but I expect good news but always be ready and trade accordingly. Was about 9% bounce from the bounce off the DMA's just over a week ago. I expect 15% but not greedy and it sometimes runs into ER and then sells off so...Trade Accordingly
Hit 19.50 today and is in the middle of the 200 and 50 DMA's
200DMA 21.52
50DMA 17.33
IEP closed @ 19.11
Direction depends on the divi....Kept/raised and in 20's, cut and new 52 week low under 15...
GOLDEN CROSS tomorrow...
BHC 8.17
200DMA 7.83
50DMA 7.82
We shall see what happens going into earnings. Court could announce any day. Chart setting up Golden Cross.
BLCO 13.70
Anything can happen but it's set up for a good run...
BHC @ 8.06
BLCO under 14
We could test 7 before the Golden Cross and earnings today or tomorrow to slow that cross.
200 DMA 7.83
50 DMA 7.79
BHC 8.25
BLCO 14.26
200DMA 7.83
50DMA 7.77
Looking good so far but can always throw a wrench into the machine as the volume has been low the past two uptick days...
BHC 8.07 with a low of 7.78
BLCO @ 14 up 2.4%
200 DMA 7.82
50DMA 7.84
Looking good heading into ER with the Golden Cross. I think we broke 9 this year already so that's possible if the GC isn't disturbed let alone a good ER. I'll trade accordingly and hold a core for hopefully future BLCO shares. If nothing is mentioned about that, I could see BHC trading a half of BLCO like it was before. However both should go much higher IMO and if we get no appeals and a win in court on Xifaxan, then a new 'trading range' 10-12 is possible with a POP to 15-16 before it finds it's trading range. With BLCO at 14, 80% shares times .77 your BHC holdings then divide that into the BHC shares currently is 10.78 valuing BHC as worthless. I also think BLCO will be mid 20's after split sell off is finished. Who knows but I see a LOT of value in both stocks but I flip for freebies and trade accordingly. BHC was a 30 stock on split announcement hype and mid/low 20's when Uncle Carl bought and when Crammer recommended. Those two are good to follow AFTER their plays get hit hard. Hello IEP...Divi kept at 1 or cut will decide that movement. Even if only in the short term. Good luck...
Test has happened.
200DMA 7.82
50DMA 7.72
BHC range today 7.68-7.89
So both DMA's tested!
BHC hit the 200DMA of 7.82 and went up to 8 currently 7.95
50DMA 7.70
ER on Thursday 2/22/24
BLCO @ 14 but went down to new 13.80 52 week low...
With 3 weeks before ER I'd expect a dip down to slow the Golden Cross from forming but maybe it still happens before ER. Maybe it also doesn't move the stock. Maybe we get a POP before ER and a drop after ER....There covered all the bases. lol
Doesn't matter as it's all gambling IMO as the market has been manipulated with no evictions, printed money, cash given out, FED not wanting to disturb political cycles and who knows what else...Musical Chairs but when the music stops there's a lot less chairs than thought.
Today BLCO made new 52 week low of 13.85 currently at 14 with BHC at 8....Something has changed between these two stocks. lol
I still think both are undervalued and stuck together. Needed to either give BHC shareholders the 80% BLCO shares or...Reverse Merge or buy back BLCO. At 14 for BLCO they could gobble it right back up and the spin at least let them pay down some debt when distressed the past year and a half.
BLCO at 14 feels like a spin of the 50.1% is coming this year but who knows...ER's should be this month and hopefully BOTH stocks rise up to new 52 week highs but you never know. lol