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The entire "analyst industry" is an anachronism from 50 years ago when precise, unbiased, well-researched & documented evaluations were prepared for large investors as a form of DD. The corrupt system we have now bears almost no resemblance to that.
The fact is the street no longer cares. It's scared and jittery and overreacts to the slightest noise, however unjustified. The only question now is how bad is this going to be.
Damn, UBS ratings cut sure didn't help, that is the last damn thing we needed!!!!!
We've had an exceptionally measured and steady rise from the depths and I'm as pleased as can be. That said, IMHO, one of these days/weeks we're going to see a much more sudden, sizable pop along the lines of 10%-20% higher. A few more closings above 6 makes this all the more likely.
GLTA.
Dew- Just by coincidence, a friend who has traveled extensively in China was just telling me about a company called Chi-Med. I"m going to do some DD, but he says that they are teaming up with a big pharma, I forget which, and doing an IPO.
Are you familiar with them?
OT: "check out how active the iHub board for GETA has become"
I did check it out, but as soon as I got to the prominent post warning about "seudo [sic] manipulation" I had to stop.
I think that the level of sophistication for all scams and con games has risen. They've probably existed since the dawn of man ("This rock is a special rock and I'll sell it to you cheap!") but we've progressed from that through splinters of the True Cross and deeds to the Brooklyn Bridge to the electronic, internet-based fraud so common today.
To peddle that rock or splinter or deed, potential sucker by potential sucker one by one, took immense time and effort. Now in seconds the lie can be displayed to millions: someone will bite. Mendacity has reached ultimate efficiency.
And when talking about a stock scam, one has to include the people who know, without a shadow of a doubt, that indeed it is a scam (last year's GVBT immediately comes to mind) and deliberately jump in for a quick profit.
I used to think that "You can't cheat an honest man" pretty well covered it, but deviousness has gotten so complex that I'm no longer sure. Keep fighting the good fight, you do a great job.
CPST- Same type of very narrow-range daily trading as other periods during the last 6 months: 1.20 - 1.24, 1.07 - 1.09, now you can buy all day at 1.30 and sell immediately, one fill, at 1.28-1.29. Going to run soon.
I agree, loss of faith was never an issue. Talk of bankruptcy or nationalization was total hogwash, to me both FITB & HBAN were simply buying opportunities.
No, not in CRBC (although one of the posters on your board, augustafriends, has given me some excellent ideas in the past.)
I am constitutionally unable to arrive late to the party, and I'm afraid I've missed the big jump up with that one. Also, I've got so much HBAN it's probably best to stay with some of my other non-bank holdings.
Best of luck to you.
I live in Columbus, OH, so both banks have always been on my radar.
Jumped all over FITB last March at $1.00 a share; told everyone in my family to do the same, but most were buying into that "the sky is falling, the government is going to nationalize the banks" nonsense. Turned out to be one of the greatest transactions of my life.
Not much you can do about the capital gains thing except hold for at least a year.
LOL. Sure, in that case you may be right. I get tired of people pumping stocks with variations of, "100% this week."
OT: I believe we've just broken the record for daily posts on this not-so-lively board!
Holding 50K shares since last April, averaged down a few times, mid 4's avg PPS.
I think that the words "10" and "short term" shouldn't be used in the same sentence, but if we can just break 6 and hold it awhile, 8 is doable. Best of luck.
LOL. Read Innumeracy: Mathematical Illiteracy and Its Consequences by John Paulos. A surprisingly large number of people will try and win a prize by picking from their "lucky" box (color/shape/size/previous winning) rather than the other box even when told that the odds are slighty better in the "unlucky" box.
Re: CPST-
Still holding. Established large position in February/March (my mistake!), averaged way down during drop to 1.08, avg. PPS now about 1.14.
IMHO, 4 is a long way off, but my sell point of 1.50 is certainly doable in the near future.
GLTA.
Dew, general question:
I'm looking at a company that submitted a 510 (k) to the FDA.
I'm probably over-simplifying this, but does this mean that the company is asking the FDA to decide if the device is equivalent to an already existing device, and therefore acceptable to market immediately, or that it's a new device and must be subjected to further testing?
If my over-simplification is generally correct, is an acceptance usually a market-moving event for the company? TIA.
MNKD: "Both devices are called MedTone?!?
I just read that the other device is officially called Dreamboat. I kid you not.
That ends my interest.
MNKD: Thanks much, I appreciate the responses from all.
Was considering a buy if it drifted down to the 5's, but will rethink it.
Wallstarb: Any thoughts on MNKD this morning? eom
Totally OT: Today's Citibank volume was 1.18 billion!
I have no idea what the one-day record is for a stock, but that's got to be close.
" I suspect that the FDA reviewers largely discount the patient advocate’s vote..."
Very interesting. Because they're not trained, professional, legitimate scientists or docs?
OT: "atrocious copy editing":
To get an idea of what's causing this read the NYT editorial "In a Changing World of News, an Elegy for Copy Editors" (http://www.nytimes.com/2008/06/16/opinion/16mon4.html) or for a really detailed examination of why writing skills are deteriorating Mark Helprin's fabulous 2009 book Digital Barbarism.
The old school, classically educated, well-read and extremely persnickety editors, most of whom were writers themselves, are dying, retiring, being bought out or "downsized" left and right. They are not being replaced at all (spellcheck doesn't count) or being replaced by cheaper younger folks who simply don't have the chops.
Helprin's book focuses on the web with the conclusion that for the vast majority of younger internet users spelling, grammar and proper usage just don't matter! They literally don't care, wonder what all the fuss is about, and generally reply with the all-purpose, "You know what I mean."
Especially on a board filled with logical thinkers why wouldn't a rumor- unsourced and repeated information- be given the appropriate amount of consideration?
IMHO, no external censorship is needed.
"...because they were cheated by the criminal bogeyman, Shortie." So true. Half our population views the world as one vast conspiracy theory. Here's something I wrote a few years ago:
TOP TEN REASONS WHY A STOCK IS DOWN
#10: The shorts are “holding it down.”
#9: It has nothing whatsoever to do with the company/sector itself.
#8: The market makers are manipulating it.
#7: All of Wall Street is blind; no one but me sees the “real” value.
#6: I have bad luck.
#5: The company is “restructuring.”
#4: Tornadoes in the Midwest/Hurricanes in Florida/Earthquakes in China/etc.
#3: “Technical” reasons: don’t ask, you wouldn’t understand.
#2: Those damn politicians!
#1: The shorts are “holding it down.”
No joke, I'd still like to know the answer to Wallstarb's question: "Where do they find rats with restless leg syndrome?"
RE: XNPT- I believe that you mean to say in your first sentence that "restless leg syndrome is a much more benign condition." Not less.
RE: CPST-
According to their filing on Feb. 10, they registered just 1.55 mil shares for the offering. Their float is almost 200 mil.
IMHO: the market is skittish, big over-reaction in AH yesterday, as Augusta pointed out just hold for a while if you can.
RE: CPST Offering-
Plenty of buys AH at 1.10.
JMHO, offering price should be no worse than 1.10, perhaps as high as 1.20.
Still a money maker, just going to take a bit longer.
RE: CPST-
From Wikipedia:
Microturbines
Also known as:
* Turbo alternators
* MicroTurbine (registered trademark of Capstone Turbine Corporation)
* Turbogenerator (registered tradename of Honeywell Power Systems, Inc.)
Microturbines are becoming widespread for distributed power and combined heat and power applications. They are one of the most promising technologies for powering hybrid electric vehicles. They range from hand held units producing less than a kilowatt, to commercial sized systems that produce tens or hundreds of kilowatts.
Part of their success is due to advances in electronics, which allows unattended operation and interfacing with the commercial power grid. Electronic power switching technology eliminates the need for the generator to be synchronized with the power grid. This allows the generator to be integrated with the turbine shaft, and to double as the starter motor.
FWIW: Per NASDAQ rules, today is the mid-month short interest settlement date. Look for stocks with a large short interest that just announced positive news: lots & lots of covering, rise in PPS. One example, CPST, 17 mil. shares short.
CPST: Selling microturbines to China for their insatiable energy demand/growth: whether we like it or not, that's where the money is.
FWIW: In 30K CPST at 1.26. EOM
"Cut loss in every trade. Be disciplined every day, in every trade, and the market will reward you. But don’t claim to be disciplined if you are not 100 percent of the time.
Being disciplined is of the utmost importance. If you trade with discipline nine out of ten trades, then you can’t claim to be a disciplined trader. It is the one undisciplined trade that will really hurt your overall performance for the day. Discipline must be practiced on every trade."
-Doug Zalesky
AF: Jumped a bit prematurely into AEZS yesterday, 0.99. Now not sure what to think. Your thoughts? TIA.
Many on HEB boards saying that this is a great opportunity to buy low!
"Nothing is easier than self-deceit. For what each man wishes, that he also believes to be true." - Demosthenes
...these insurers were able to survive the the worsht financial crisis since the great depression.
And it's only going to get worsher and worsher.
OT: Re Housing, just got this from the National Association of Realtors. Should be interesting what happens from here.
"You then are adding the placebo to the control arm to blind the trial."
But all the posters on their board KNOW that it works! What more do you want?
ROTFLMAO.
I think that with a little help this term can become commonplace in everyday speech.
"I came home late from poker and my wife threatened me with a grade 5 adverse event."
or
"I'm so depressed I could grade 5 adverse event myself."
or in baseball
"Grade 5 adverse event the umpire!"
Something to think about.
anyone want to take a stab at what a Grade 5 adverse event is?
Death?
Re: Would you say the housing market has bottomed?
I wouldn't go so far as to say it has "bottomed", but to use a stock analogy, we're near the bottom of the trading range and the downside risk is minimal
The supply of first-time buyers is far from exhausted. However (to extend the analogy), just like investors who are still experiencing shell shock from last March, it's challenging to get many of them out from under their rocks and convince them that the world is not ending, it's OK to buy a house or invest in the market.
Re:[OT] tax credit extension for firstime homebuyers
Over 50% of buyers in Ohio are first-timers, I'd guess the national average is about the same. It's making a real difference in my business, I hope it's extended.