Moving the Shrimp to Fiji, if the plan works.
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Long bond fell below the 50DMA at the open. I was up 3K. Now I'm barely treading water.
Bonds are going to crash. It's just a matter of time. IMHO.
I have all my bets on the downside, so it will probably go up.
Huge overhang, though. If it busts through, I might have to cover.
Here come trouble. Watching that VXX.
Yeah, you would think they found a loophole or something.
His VWAP went up. He's not getting them as cheap as he did before.
A penny seems unlikely, but possible if he spanks it hard enough to scare people out.
Toxic note still has about 25 million shares to convert, Depending on conversion price.
WAG. He shorts, then covers with a conversion.
Actually, they pay the market price, regardless of what the price of the shares the seller paid. That's how the market works. The Toxic Lender is getting his profit, and the investors are getting the shares at the price they are willing to pay.
Maybe they aren't financiers in your book? If they start filing the 13G's will you upgrade them to that status?
I'm pretty much in the same place. I think we'll see Kyros pushing it down in less than 3 weeks. Should present a buying opp, unless shipping gets worse. Only thing to worry about is the industry. The CEO will surely do another toxic if it gets worse, but unlikely if it improves.
Toxic seems dumb, but it keeps the ships afloat. Speaking of which, the industry scrapped a lot of ships, so rates should improve. Supply could even get tight if we get the right political environment and a substantial economic recovery. 8 years of very slow growth hasn't helped companies, but low interest rates fueled a bubble in the bonds and the S&P. Woo hoo.
Time to pick stocks, not buy indexes.
At higher prices, the spread tightens, and trading slows after the panic subsides, in my experience.
Under 10 cents, you get a different type of investor/speculator.
I'm sure you've seen some of these pump and dumps where somebocy shows up, and buys millions of shares, calls everyone in, and then dumps.
I'm surprised we haven't seen a few of them already. Most of the DD here is solid, and I haven't seen any front runners or penny stock news bursts.,
Reduction in the spread is a safer feeling for me. I'd rather hold than flip, but making 20% a day is fairly enjoyable.
And then he'll announce the "boilerplate" CEO speech.
"The day to day fluctuations of the stock price are not my concern. I have a business to run, and running the business is what I am doing"
I predict that they will do it before the clock runs out, regardless of the market reaction.
It's not like the market has reacted well to anything CEO Boogaloo has done.
If the price goes up after the R/S, so does the market cap. I think it will go up as soon as Kyros runs out of shares and the SlowPO is finished.
The other reason is called "authorization" They have the authorization, but it has a time limit. Setting it for another vote requires more money.
They can uplist if the price goes up after the RS.
Personally, I think RS is all stigma and zero realism. It doesn't actually affect the capitalization. I think it will happen before the year is up. I will worry if they do another toxic note, not if they just do the RS.
This works better than my broker's streaming L2 on OTC stocks.
http://www.otcmarkets.com/stock/TEUFF/quote
And it's free.
IIRC, the vote for the RS was created around 50 cents. It dropped to about 30 cents as voting was taking place, and fell to 15 cents when the results were announced.
I sort of feel that the RS news has pretty much run its course by now.
Have to find something to do while we wait for Kyros to get back from their shareholder funded vacation in the Bahamas.
Yeah, I like to see at least 2 MM's before I hit them big. You hit a 10K hard enough, they just move out of the way.
I took the first 60K, and it didn't move. Somebody else got some, and it still hasn't moved.
I hit them down at 2.2, and they dropped like dominoes. Pushed it back to 2.05, but they're not so weak.
Is that what I did?
Kyros will slam it down again. Won't even need the RS announcement. If the announcement comes first, Kyros will lose a big opportunity.
That's not an either/or dilemma. The company could halt conversions, and Kyros could still hold less than 4.99%
I don't care what the stock did the past week
I have the 21 day lowest VWAP at about .0062 (x .65 = .00403)
It's not a "rolling VWAP." It's the lowest (daily) VWAP in the 21 [trading] day period.
Read it yourself. Don't depend on some pencil pusher you met over coffee.
250k/.004 = 62.5 M shares. Ballpark.
Divide by 5.5 million. 12.5 decent volume trading days, unless they try to catch the pops.
Now do it over with the "lowest VWAP during the 21 day trading period" as the paperwork says. Not some fictitious pipe dream number.
Toxics usually avoid the Q's. You don't go BK if you keep lowering share price and selling more shares.
Not saying it can't happen, it's just less likely.
I'm "waiting for funds to clear" Sort of. I'm short Treasuries and the S&P. My funds will clear if either one crashes.
NITE just put 500K under him. Kyros will have to work for a lower VWAP. It's not going down much.
There were 2 different bids at 2.5 Million shares. It could just be a strange coincidence.
(Second one isn't quite filled yet)
Says 5% here.
https://www.sec.gov/answers/sched13.htm
So who is the big buyer?
Vanguard, Fidelity, Blackrock?
We should be finding out shortly. That many shares merits a 13 G filing unless the T/A is giving out share counts.
True. No wonder everybody hates banks.
If you buy enough shares, the ask will walk away from you. They would have to make a public offer for the company, and be approved.
It's a can of worms for the buyer, but it could be done, in theory.
What's funny? The scrap company could have bought the whole fleet on the market (at current share price) for $12 million, and they only got 2 boats.
Thanks for the PM. It's looks like a real business, anyway. I'm a former trucker, so I'm fond of the business model. I need cold storage facilities, so it will work with my current projections.
I need some time on it. I stay with tickers for years, and trade around the core position. Could get my feet wet within days.
The shares are actually worth a substantial percentage of the book value. Mr. Market haggles, and the company negotiates and dilutes at various intervals. Value fluctuates and traders trade.
I am not ashamed to admit it. I got lucky. Very lucky.