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~~COMPX 08/13/2004~~
Previous Close 1,752.49 -29.93
1708 renshen1
1728 timhyma
1735 BullNBear52
1739 financialadvisor (bottom very soon!)
1760 BOP
1764 Phil
1767 Horsetrader
1771 rayrohn
hopefully I'll be back on Monday... latest has charley taking dead aim at my front door again! yikes!
again...
no arguement that there are other bad dictators that need removing. However, Saddam controlled the second largest deposit of oil in the world... and was making sweetheart deals with China, Russia and France (imagine that) that would have seriously limited US ability to obtain the oil needed as well as garnering Saddam support for lifting the sanctions so he could resume his agenda.
You may consider me to be in the minority, but I'd rather have Bush in the White House. Kerry's plan to wage a more "sensitive" war reminds me of Jocelyn Elders plan for "safer" bullets.
Well, you could always add the answer to the FAQ page.. but then that would take all the fun out of the reply! :)
will do and THX.
weeeeellllll,
I guess I'm in disagreement with "Most of the rest of the world and more than half of the US"
As for the headline... I believe Kerry would qualify as "anybody".
The question I'd ask is this. Why is Al-Queda so strongly opposed to Bush?
Could it be that his actions, however poorly recieved they might be by so many (as you indicate), are actually affecting Al-Queda's ability to act as they wish?
If I were Osama I'd be trying to get him out too, after all I'm sure he had much nicer caves in Afganistan.
No problem! :)
I'll be happy to start fresh. Not start a war that is... just here to have some fun, teach a little, learn a little, hopefully make some dough.
very little to do with JAIL is GOOD!
deja vu...
I just had a feeling I have seen, read, participated in this discussion before.
:)
ahhhhhh! the voice of Churak the magnificent!
I can understand your point.. especially on a day like today,
BUT...
nothing goes up all the time... ( though some might wish it so )
nothing goes down all the time... ( though some might wish it so )
learning to switch hats has made things much more profitable for me.
best of luck to you.
If I may...
as someone who once, long ago and far away, played heavily in the pennies.
Always remember, never forget...
PENNY STOCKS = Speculative money
Speculative money = money you can afford (and perhaps expect) to lose
best comparison I've seen for the OTCBB... a poker table, watch out for the sharps!
very true...
If they did RS.. I'd be looking to short as much as I could $50 to .0004 is a loooooooong way down. :)
You are correct, sir!
apparently I dropped a zero somewhere. :)
either way the fellow holding the 1,000,000 shares has a value of $400.
I would also be hesitant to refer to said fellow as an "investor", speculator seeems much more appropriate. Though I'm certain a few of the guards and most of the inmates can come up with much more colorful metaphors. :)
Yep...
Mostly Charlie though... last night they were projecting eye to cross right over my front yard. this morning it projected a little further west of there. I'm concerned because I have some old Oak trees in the back yard, and they are expecting 75MPH+ winds here Friday night. Not a good combo.
Al-Qaeda backs Kerry's Campaign for President.
Al-Qaeda planning major assassination to disrupt US vote
Wed Aug 11,11:18 AM ET
WASHINGTON (AFP) - Al-Qaeda is reportedly planning a high-level assassination against a US or foreign leader to disrupt the US presidential election, that will be set in motion by a new tape from its leader Osama bin Laden (news - web sites).
Quoting from unnamed US intelligence officials, The Washington Times said besides the United States, two possible places where the assassination would take place are Saudi Arabia and Yemen.
The assassination would signal the launch of more terrorist attacks involving "multiple targets in multiple venues" across the United States, the officials said.
They said the "very detailed" plans were found on a laptop computer of suspected Al-Qaeda computer expert Naeem Noor Khan, arrested in Pakistan last month.
"The goal of the next attack is twofold: to damage the US economy and to undermine the US election," an intelligence official said, referring to the November 2 presidential election pitting Republican President George W. Bush (news - web sites) and Democrat John Kerry (news - web sites).
"The view of Al-Qaeda is 'anybody but Bush,'" said the official.
The officials said the likely trigger for Al-Qaeda's new terrorist campaign would be a new video and audio message from bin Laden, which they expected to surface soon.
"The message likely will be the signal for the attack to be launched," one official said.
actually...
assuming ~485,000,000,000 outstanding shares (who's counting a few shares among friends? :) )
and a market cap of 194,000,000 ( 485,000,000 x .0004 )
a single reverse split of 12,500 to 1 would result in a share price of ~$50 USD
or any combination of R/S's to achieve the 12,500 to 1 ratio.
presuming of course that the stock price remains where it is, neither rising or falling.
BTW, I'm not bashing and I don't own any CMKX or whatever it's ticker is... and I don't plan on buying any anytiime soon either.
Sorry I missed out on today's game. I'm busy prepping for some "stormy" weather. :)
Good Luck Tim... (he had me number anyway :P )
~~COMPX 08/11/2004~~
Previous Close 1808.70 +34.06
1749.9 renshen1
1755 BOP
1781 timhyma
1790 BullNbear52
1800 rayrohn
1815 Phil
1822 financialadvisor
1840 Bruce
~~COMPX 08/10/2004~~
Previous Close 1774.64 -2.25
1755 BOP
showing off would be to have a run akin to that Jeopardy champ! :P
It's good to be back.
~~COMPX 08/09/2004~~
Previous Close 1776.89 -44.74
1749.90 renshen1
1753 timhyma
1798 shao
1771 BOP
Please forgive my lack of detail in making an obvious over generalization. I presumed that the turnips (being highly market educated) would comprehend that whomever is a seller (regardless of the parameters of the sale) is selling because they no longer feel the potential for continued appreciation is as great in the issue they are selling as it is elsewhere. Likewise one buying an issue believes there is greater potential for appreciation in that issue than elsewhere.
Buying is inherently optimistic, that optimism may be subdued and factually based but it is optimism none the less.
Selling is inherently pessimistic, though that choice to sell may be based on different "intent" (short - "It's going down!", long - "It's gone as High as it's going to for now.") the end result is the same. Again though the decision to sell may be thoughtful and factually based, it is still pessimistic.
Supply and Demand and the Price of a particular Issue are the result of the complex interactions of these two groups of buyers and sellers. Depending on which group is prevalent the price will advance or decline accordingly.
Please be advised that this simplistic view does not take into account the various other forces that can contribute to the equation (ie: an increase or decrease in the float).
In your example you state you "sold" some stock because "the prevailing trend was to the downside". In other words you felt that stock had low potential for appreciation. That is not an optimistic view of that particular stock!
BTW, This is not meant to ridicule anyone. Even the staunchest of optimists are pessimistic about certain things or at certain times. Likewise even the most pessimistic individual will be optimistic about some things on occasion. Nothing is abnormal about either state.
Wishing you well,
In times like these,
I am reminded on an old adage about the market being wary of uncertainty.
And there is plenty of uncertainty to go around right now!
Presidential elections - Kerry and Bush neck and neck, no likely predictor of the outcome until November... and Don't be surprised if we have a repeat of the post November 2000 quagmire.
Oil Prices - technically in uncharted territory. We've just seen a breakout to a new high. Price could go higher, begin a new trading range or breakdown to lower levels.
Terrorist threats - we know "they" will do "something". The quest is what and when. Remember that "they" do understand the value of an attack days before an election (IE: SPAIN).
The economy - strengthening? or weakening? and can we even trust the numbers anymore?
Interest Rates - going up? or staying put so as not to strangle the strength in the economy too soon?
It's very difficult to predict a major rally with all these uncertainties. The markets are currently mired in a down trend, therefore I would tend to flow with the prevailing winds so to speak. I suspect any rallies will be short lived and followed by new lower lows as we have already seen several times this year.
IMHO, obviously the election will be resolved in early November (with a small chance of it being prolonged into December). I also suspect that with the passing of the election the terrorist threat level will stabilize to pre election levels.
Despite the weal jobs report, it does appear the economy is getting stronger and interest rates have been too low for too long (though they won't rise as far or as fast as some may think).
I'm still holding that before the election we will see lows of DJIA 9000, S&P500 955 and the NAZ at 1500. We may see a rally or two in that span and it is possible that those predictions may prove too high or too low, as always the market will decide.
Good Fortune to all,
:))
True enough, though I am known for not being one to mince words concerning my opinion on most any subject.
just a point to ponder... when a contrarian is faced equally weighted, factually based opposing views... which way is contrary?
THe difference of opinion is what makes the market. For every optimistic buyer there is a pessimistic seller. The discussion of these opposing views as well as the actual trading based on those views make s for interesting (and occasionally profitable) conversation.
be well
not enough production and/or not enough refining capacity, either way prospects for lower oil prices look about equal with the chances that your long lost cousin died in a car accident in Liberia and you have 25 Million dollars waiting at the 1st national bank of Liberia... all they need is an account number. hehehe
It's not the amount of oil that can be pulled out of the ground that is the shortfall. it's the amount that can be refined(processed) into usable form that is the bottleneck. All existing refineries are at max capacity. building new refineries will take time. till then... more of the same.
As the price of oil gets higher more of the "alternatives" become more attractive. (crossing fingers)
Rat,
Believe me... I feel the pain. And do my best not to gloat in any situation. I've been caught long in a serious downturn and seen first hand how shorts can do the two step on the grave. And a long time ago... in a little galaxy known as the fledgling IHUB.. I did battle toe to toe with some of the most gleeful shorts on the planet. I know better than most exactly how you feel today. I take no joy in your pain.
I may be bearish on the market now and on certain issues especially... but that has not always been the case and may not be the case once again in the near future.
An old adage seems appropriate...
Bulls make money.
Bears make money.
Pigs get slaughtered.
smiles...
you can read all about me at my little corner of IHUB Ticker is WEYR... or click the link in my sig...
a very large bird indeed! :)
C'mon Rat... Don't hold back...
tell us how you REALLY feel!
I will admit I made a few bucks over the last few weeks. Most of it on the "short" side. It is hard *not* to revel in one's success, even when it comes at the expense of others (so to speak). Before you condem it as unAmerican though...
Have you ever jumped for joy when you were on the long side of a short squeeze?
The sword cuts from both sides.
That is why I watch the market and listen to the clues it gives about where it's going. I short when its going down and am long when its going up. I'm not always right... but then who is?
Closed out APOL today for a nice profit. It held up well in the face of todays downturn so I took my profits and will seek new opportunities for that money next week
I hate redo's...
better to get it right the first time if at all possible.
While I did not forsee oil going through the roof and employment through the floor. I DID see potential weakness in the market three weeks ago and have managed a tidy little gain for that time frame. :)
Wishing everyone a wonderful weekend and a better week next week!
while we are making predictions...
DJIA 9000
COMPX 1500
yes it could get that bad... maybe worse!
Beleive it or not there is still quite a bit of potential donwside left in this market even after today.
I was referring to the DJ articles comments (highlighted below).
It's a terrible thing to be "spent"! :)
I asked because I thought I (and others) might benefit from specific commentary on this sector.
=UPDATE: Corinthian Down After Warning On Earnings>COCO
Dow Jones Equity News, Monday, August 02, 2004 at 14:18
(Updates throughout.)
By Erik Ahlberg Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--Shares of Corinthian Colleges Inc. (COCO) sunk Monday after the for-profit education company said its revenue and earnings for the recently ended fiscal fourth quarter and the year would fall below its previous forecasts.
The company blamed the shortfall on higher costs related to marketing and advertising, and negative publicity surrounding a series of lawsuits that have dogged the company in recent months."Strong growth, unfortunately, sometimes brings challenges, and there were several during the past quarter that we now believe caused our revenue to fall short of our expectations and earlier guidance,"said David Moore, Corinthian's chief executive.
Investors gave the stock a failing grade. Corinthian College's shares recently traded at $10.59, off $8.13, or 43.4%, on heavy volume.
Corinthian's disclosure, made via press release early Monday, also dragged down the shares of others in the sector, which has been beaten down in recent months by a steady flow of bad news.
Education Management Corp. (EDMC) shares were off 14.9%, University of Phoenix Online (UOPX) dropped 14.9%, DeVry Inc. (DV) declined 13.4%, Career Education Corp. (CECO) were off 13.3%, Apollo Group Inc. (APOL) fell 12.2%, Strayer Education Inc. (STRA) were down 10.6% and ITT Educational Services Inc. (ESI) were off 6%.
Analysts promptly downgraded Corinthian Colleges' shares. J.P Morgan, Harris Nesbitt, Bear Stearns and Merrill Lynch were among the films lowering their opinions on the stock."It has become clear that the company has not been able to effectively manage costs as it struggles to implement an organic growth strategy and integrate acquisitions,"said J.P. Morgan analyst Bradley Safalow."We are completely shocked by the magnitude by which the company has lowered guidance."Corinthian Colleges, of Santa Ana, Calif., said it expects to report fiscal fourth-quarter earnings per share of 19 to 20 cents and full-year earnings between 86 to 87 cents a share. Analysts polled by Thomson First Call had forecast the company would earn 28 cents a share for the fourth quarter and 97 cents a share for the year, which ended June 30.
Corinthian Colleges also said it expects to report earnings for the fiscal first quarter of 2005 of 17 cents to 19 cents a share and said it doesn't expect to achieve its previously targeted earnings per share for fiscal 2005.
Analysts, on average, projected the company would earn 27 cents in the first quarter and $1.25 a share for 2005.
Given the good visibility associated with the for-profit education model, Corinthian Colleges' earnings shortfall is unprecedented and reflects a lack of internal controls for the company, J.P. Morgan's Safalow said.
He also said the company's decision to withhold specific guidance for 2005"creates additional uncertainty about management's ability to effectively monitor costs and execute on a growth strategy."Safalow doesn't own any Corinthian Colleges shares, though J.P. Morgan has conducted investment-banking business with the company within the past 12 months.
Legal issues add another layer. A suit brought earlier this year by a former student of Corinthian's Florida Metropolitan University alleges that the company concealed that the school wasn't accredited by a certain regional accrediting body. The suit, which was widely covered by local press, also alleges that FMU credits can't be transferred to other schools.
In June, officials from the U.S. Department of Education reportedly uncovered problems with federal loan requests made by the company's Bryman College, located in San Jose. As a result of the findings, the agency revoked the school's ability to receive advance payments on its student loans, which is standard practice in the industry.
There also have been a number of class-action lawsuits filed against the company in recent months. Just last week, a law firm in Baltimore commenced a shareholder suit alleging the company and its executives"violated federal securities laws by issuing a series of materially false and misleading statements to the market"from August 2003 through June 2004.
Corinthian said in its press release Monday that it voluntarily met with personnel from the California Attorney General's Office and provided requested information regarding three previously settled lawsuits. The company also offered additional materials regarding its policies and programs designed to keep students happy and ensure regulatory compliance.
J.P Morgan's Safalow said that disclosure"increases the regulatory concerns surrounding the space."While the industry growth rate remains strong, Corinthian College's disclosure show's that the growth"is slowing on the margin,"said analyst Lauren Rich Fine of Merrill Lynch. The firm downgraded the company to neutral from buy.
However, investors shouldn't lose sight of the fact that the industry has solid long-term prospects given an increasing number of students graduating from high school, wide salary differences by educational level and an increasing move toward a services-based economy."We do not believe a case can be made to put new money into the stock, yet we continue to be believers in the services they offer and as a sector as a whole,"Fine said.
-By Erik Ahlberg, Dow Jones Newswires; 312-750-4141; erik.ahlberg@dowjones.com
(END) Dow Jones Newswires
They forestalled a rate hike next week.
Really?! you think so?
If you said the hike after next weeks (Sept/Oct) has been forstalled I would likely agree, but next weeks is a done deal. up .25
Agreed... but...
Why COCO? Why not CECO or APOL or EDMC or ESI or STRA? All are pretty much in the same industry, most have less debt and better cash flow than COCO. and then there are the accusations of fraud and whatnot floating around COCO.
The Power of a Market Trend...
Record Earnings, Beat Estimates by a healthy margin, company raises guidance...
but...
In a down market (at least short term) on a day when the market news is not "good"...
This company is down 10% on heavy volume.
Glad I was expecting this and traded accordingly.
Check out DHB
Of course you may ask!
(hehe)
Primarily as I have always been, my business is a multi-headed monster.
Through good times and bad I have always maintained my Fire Protection Systems Design business.
Because it costs so little to keep afloat and has been profitable from it's second month of existence, I keep my Internet Services business (Web Hosting, Internet Access, etc.) doing it's thing. It even made money while I was away,imagine that.
And my favorite, and as far as this venue is concerned, most relevant business, Stock Market Speculation. It amazes me why more people don't approach the Market in the same way they would approach buying a franchise or exisitng business.
time for me to run, BUt I'll be back again tomorrow or Monday.
Ciao,
I spoke with Gary on the phone a few months back, but haven't heard from him since.
I understand about "defiling", If I had a nickle for every time I have been spoken ill about... I probably would be on a Carribbean beach and not sitting at a computer!
Glad to hear that Blue. I am doing much better of late with both business and the market. I did have to take about 18 months off due to personal matters, but now that I am attending to business once again, things seem to be returning to their rightful direction.
I no longer play the pennies, but what I am working with seems to be effective. Currently I have open positions in APOL, DHB and WAT in my "trading" account.
Howdy yourself my old friend!
Much has transpired since last I trod these halls... not all of it good. But all that is past and hopefully things will turn out for the better in the days ahead.
I trust you and yours are well and happiness reigns in your household.
Worry not about the double. Accidents happen:)
Ahem...
I have returned.
After dusting the place and removing a few of the cobwebs(have to leave a few for atmosphere!), I open with a request for thoughts from whoever so chooses to respond on the following issues.
APOL
DHB
WAT
Looking forward to hearing from the fine folks here at the HUB.