Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
"Undeterred, the group is now weighing a plan to
backstop a USD 300m rights offering to pay down pre-
petition debt and ensure an equity recovery under a plan of
reorganization, as reported." That line should make a lot of investors here pretty damn happy.
Huge news! Wait til the heavy-hitters at Trian and ICC Capital get on board.
I'd say low volume is attributed to it being Friday, seller is apparently done, and some buyers are deciding whether or not to buy in now before the weekend.
Gotta love friday's around here.
Although I was surprised that we didn't get a bounce off the 20DMA if you're waiting for .86 I truly doubt it will happen. We'll see tomorrow depends whether our seller is done and buyers decide it's time to step in.
Big blocks finally deciding to step in.
Looks like they are going to fill the gap now 1.04x1.05
Been holding an order to buy at 1.05 and this is the first time they filled it after being tested 2 times before. 3rd time should be the charm, we're literally sitting on/a little under that 20DMA I would think this is the "loading zone" bottom.
I worked at a bank with an ESOP/Profit sharing plan for a couple of years and from my experience the majority of employees have little to no knowledge on equity and investments. The employees at Chemtura are for the most part not going to be traders or business savvy gurus by any means. Not to take anything away from them but I doubt the majority of them have means to understand their interests in the equity...
Caught me right before I posted that :).
Each day we consolidate the higher that 20DMA becomes...I'm ready to move on and leave the naysayers behind when it's time. Sorry I haven't been actively doing my DD as of late been busy with schoolwork and hope everyone here has been remaining true to everything we've worked for the past couple of months here.
I've remained positive on the long-term here since March, short-term we're not far from that point will be beneficial in the long-run barring news to finish this consolidation just like the last consolidations that touched 20DMA and then increased 30-60% from there. We have bashers coming in which is a sure sign that we're close to the bottom of the consolidation. IMO
Approaching 20 DMA which I believe is the floor here, sitting at the 1.05-1.07 range, if that hits we should see a bounce off IMO. I'm waiting for that to pick up some trading shares and I'm sure many traders are sidelined for that same fact. JMO
Nice day once again, Cabo sounding better and better.
Looking pretty oversold down here, might be a nice time to jump in and rake up some profits.
Whoa, taking off today looking good.
We closed today's gap up already, there is still that gap at 1.03-1.05. I can't find the link to the study but there is a lot of statistics and calculations that go into gaps, but basically it's 80-90% likely that the gap will fill. They do not always fill and it's possible that ours won't but it's up to traders to play the odds.
Definately, it's good for us and good for the chart to fill the gap and consolidate before we venture to new highs.
Don't sweat it, just a blip in the scheme of things it doesn't look good when there are gaps in charts it's like an 80% fill rate most of the time so nothing unusual here. We'll be back up in no time.
They need to fill the gap before we go back up, here it comes.
Breaking out...150k at 1.18 now.
Spoke with my finance professor on the premium that is being paid for the bonds here. He says bondholders obviously know something that we don't. Can't wait til we find out.
Wow, that is an impressive call for preservation of equity. Thanks and great job to everyone involved especially Jax, and Wall. Nice day today.
Hey guys, been pretty busy lately but got caught up on everyone's posts I like the tone of the board and how everyone is now working together to "insure" our interests and investments. For guys like me with under 100k shares is it still a worthy cause for us to send letters, I will gladly contribute if it is deemed necessary.
Thanks,
JD
P.S. Mucho thanks to wally and jax, etc. for heading up this EC proposal. Happy to be part of this great board since the pennies and hope to be a part of it when we're at multiple dollars.
Personally, I don't fault MC at all for his selling, my only grievance is the bad timing he made with the announcement. He easily could have waited til after the market closed and I'm sure he regrets doing that when he looks back now.
Aside from that our chart is still strong we held support...I mean MC and those following MC are now gone and others will step up to the opportunity. We will continue to have volatility as we get closer to the POR date for obvious reasons. No one not even MC could possibly know what the end result will be here for certainty, how could anyone know the end of a story while there are so many occurances that can change the end outcome? It's impossible to know because we're still not at the end of the story...
Wow, MC definately did have a following. I'm still here and waiting for higher ground we're not done yet.
.92 is going to get ran over.
We got a little hop, I'm talking about serious separation :).
We should get a nice bounce off that rising signal line (middle bollie) soon.
It will be beneficial to create a nice base between .90-1.10 to get ready for the next significant move up.
Big money deciding this is cheap in the upper .80s.
Looking good so far, could be our recovery day.
I definately think you're onto something there. Trian and especially ICC have a huge interest in the common shares here, would be very wise and logical for them to be buying up these bonds to hedge their investment. Would not at all be surprised to find out it was those funds buying up the bonds at these levels. I know my profile says I ended my love affair with stocks, but this story is enticing, almost makes one just want to stick around to see how it all concludes.
Brokers as well as the lay public do not have much knowledge of BK stocks. I gave a presentation on BK stocks, opportunities and how to profit from them to my investment club (focusing mainly on cemjq and pgpdq as standouts in the "q" world). An Investments professor did not know anything about the subject (which I thought was very odd), but neither did the majority of the people in the room. As I've stated before when we've had a debate on the commons a risk analyst steered one of my friends away under .10 laughing at the thought of investing in a bankrupt stock. Don't think he'd be laughing now at .80+. People get rattled by a drop in price it's just what happens, if I went back and analyzed every post from the time we went from .48 to .20 I'm sure the subject got beaten down everyone's throat every time the stock slid down more than a penny. What has changed except that we've been profitable for the last 3 months even while absorbing huge reorg. costs. It's about sustainability and I'm no accountant but I know you subtract out reorg. costs to get the sustainable income of a company. Outside of BK we'd be seeing much larger profits than the $1 million a month we've been seeing. Now do I or anyone else here know what exactly is going to happen? No. If I knew that I'd take every penny to my name and stick it here. There's are no guarantees in the stock market whether it be a penny stock or a Blue Chip, if you're questioning your position now then it's either time to lighten the load or exit the position. I'm all for debate but how about we bring this subject up when we're sitting on a multi-day gain instead of a retrace then I'd feel more credibility discussing a beaten subject. This just seems like a fear induced subject and I truly don't believe this has ever been brought up outside of on red days.
That's my 2 cents.
We will all find out down the road with the POR and then we can all exclaim how right or wrong we are but until then sorry nobody here can give a concrete answer either way, all we can do is point to the yellow brick road where our opinions either coincide or collide.
Furthermore, the bond price action is never identical. Commons have not just shot up as soon as bonds shot up, typically there has been a lag time between the two.
Thx CMM.
We have to be getting some kind of news on the way back up here. Not many if any BK companies trade with bonds at par value. Question: Are pilgrim's bonds at par or above??
She's resilient should be rebounding nicely over the next few days/weeks, bottom is in IMO.
Should be bottoming out here, the selling has to be exhausted soon.
Another 500k at .77 but BxA move up.