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going to be a rough morning. looks like OSGIQ is dipping on the news its credit rating got dropped to a "D".
good old fiscal cliff stuff. Hopefully pcx will survive and not do much today. Looks like it's down already and was hoping for that penny. But then again, everything is pretty much being hammered today. Might be a good point to get in on some others (if you have the funds) and then get out on the bounce
yeah, I was hoping this would be good by them extending it by a year to allow them to get this going.
I figured this is what got them out of the hole this morning. tomorrow will hopefully bring it up another penny (key word hopefully)
Patriot Coal Announces Proposed Selenium Settlement
BY PR Newswire
— 2:06 PM ET 11/15/2012
ST. LOUIS, Nov. 15, 2012 /PRNewswire/ -- Patriot Coal Corporation (PCXCQ) today announced that it has reached a proposed settlement agreement with the Ohio Valley Environmental Coalition, Inc., the West Virginia Highlands Conservancy, Inc. and the Sierra Club regarding claims under the Clean Water Act relating to surface mining activities in West Virginia.
As a result of the proposed settlement, the deadline for compliance with selenium effluent limitations at outfalls under the Hobet 22 permit will be extended from May 2013 until August 2014. Additionally, compliance schedules under the global consent decree announced in January 2012 will be extended by 12 months. In exchange, Patriot will agree to certain restrictions on large-scale surface mining activities.
"This settlement agreement allows Patriot to defer up to $27 million of compliance-related cash outlays from 2012 and 2013 into 2014 and beyond, which improves our liquidity as we reorganize our company and increases the likelihood that we will emerge from the Chapter 11 process as a viable business," stated Patriot President & Chief Executive Officer Bennett K. Hatfield. "Importantly, this proposed settlement allows Patriot to continue mining according to existing permits and is consistent with our long-term business plan to focus capital on expanding higher-margin metallurgical coal production and limiting thermal coal investments to selective opportunities where geologic and regulatory risks are minimized."
The settlement remains subject to approval by the Federal District Court for the Southern District of West Virginia following a public comment period, as well as approval by the Bankruptcy Court for the Southern District of New York.
nice little article for pcx today. Not sure if that is what helped it get back up a little bit or what.
Patriot Coal Announces Proposed Selenium Settlement
BY PR Newswire
— 2:06 PM ET 11/15/2012
ST. LOUIS, Nov. 15, 2012 /PRNewswire/ -- Patriot Coal Corporation (PCXCQ
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) today announced that it has reached a proposed settlement agreement with the Ohio Valley Environmental Coalition, Inc., the West Virginia Highlands Conservancy, Inc. and the Sierra Club regarding claims under the Clean Water Act relating to surface mining activities in West Virginia.
As a result of the proposed settlement, the deadline for compliance with selenium effluent limitations at outfalls under the Hobet 22 permit will be extended from May 2013 until August 2014. Additionally, compliance schedules under the global consent decree announced in January 2012 will be extended by 12 months. In exchange, Patriot will agree to certain restrictions on large-scale surface mining activities.
"This settlement agreement allows Patriot to defer up to $27 million of compliance-related cash outlays from 2012 and 2013 into 2014 and beyond, which improves our liquidity as we reorganize our company and increases the likelihood that we will emerge from the Chapter 11 process as a viable business," stated Patriot President & Chief Executive Officer Bennett K. Hatfield. "Importantly, this proposed settlement allows Patriot to continue mining according to existing permits and is consistent with our long-term business plan to focus capital on expanding higher-margin metallurgical coal production and limiting thermal coal investments to selective opportunities where geologic and regulatory risks are minimized."
The settlement remains subject to approval by the Federal District Court for the Southern District of West Virginia following a public comment period, as well as approval by the Bankruptcy Court for the Southern District of New York.
Yeah that's good idea. Don't get caught too high like I did. I put in GTC for pcx this morning. Going to stop watching that damn thing, been killing me!
that is true, but you never know. like PCX, that thing dropped like a rock, and kept dropping. Next few days it dropped more and more before a good bounce back up.
I had bought when it was coming down on the bounce thinking it was going to bounce right back again, but it never did.
you can never really know for sure. Better to keep playing it smart like you do, than get in and get stuck like old frankj!!
what was OSGIQ old ticker name? I put it on my watch list. I see it got down to the .40s but popped back up to the .60s.
I'm assuming this company went into BK too?
I see 52 week high was huge. But there is no information or message boards for it, wanted to do some look up on this and more research.
If it's in BK then this may eventually fall down to .04.
aww damn! I didn't get any PM about it!
we all know I need this big time!
j/k Ernie. I got myself in my mess, gotta get out of it. just teasin!
hope it works out really well for you all, love watching this board and I'm hoping I'm adding some good picks to it
Agreed, I'm definitely pulling for Sam. World doesn't have many good people in it, with good values to follow. we all know this is tough market/economy and those are mainly "sharks" in this game of cut throat.
Sam just wants an honest person/company. Doesn't exist anymore, this country is not the same as it was.
Regardless, I'm hoping he makes it out with all or most of his money. good things SHOULD happen to good people with good morals and intentions. key word being "should". unfortunately we all know that doesn't happen much
nothing but luck and love to those that are still holding (esp those holding that are pre-BK)
Manhattan bankruptcy court to open on Tuesday
BY Reuters
— 7:24 PM ET 11/12/2012
By Nick Brown
NEW YORK, Nov 12 (Reuters) - Federal bankruptcy court in Manhattan will reopen on Tuesday after being closed for more than two weeks due to flooding and other damage caused by Hurricane Sandy, according to its website.
The court, which had been without steam, Internet and phone connection, is "now operational," according to an announcement on the site on Monday.
For large companies restructuring under Chapter 11 in New York, like Patriot Coal Corp (PCXCQ
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) and American Airlines parent AMR Corp, it means returning to normal after days of postponed or relocated court hearings.
The court, a major hub for corporate restructurings and liquidations, is located at One Bowling Green, near Manhattan's southernmost tip. The area suffered major flooding and power outages after Hurricane Sandy touched ground in the New York area on Oct. 28.
While workers were able to drain water and sewage that had flooded the courthouse basement within a day or so, the building remained without heat, Internet or phone.
By court order, judges were allowed to move hearings to other courts. Some companies, like AMR, held hearings in White Plains, New York, while others, like the liquidating financial giant Lehman Brothers Holdings, postponed them altogether.
Stephanie Circovich, a spokeswoman for the federal court system in the Southern District of New York, told Reuters on Monday that she was not aware of a planned reopening on Tuesday. Court employees were off on Monday due to the Veterans Day holiday.
Renee Miscione, a spokeswoman for the U.S. General Services Administration, told Reuters in a phone interview that all GSA buildings affected by Hurricane Sandy, including the courthouse, are fully operational.
The court is housed in the Alexander Hamilton Custom House, an ornate Beaux-Arts-style building designed by architect Cass Gilbert at the beginning of the 1900s. As a custom house, it was the revenue collection point for the lower Manhattan port. The building stood vacant for much of the 1970s before undergoing major renovations. The bankruptcy court moved into the structure in 1987. (Reporting by Nick Brown; Editing by Richard Chang)
I'm still watching LQMT. Think they are supposed to have a conf call today. I think they may "issue" more shares to get more financing.
They got this one guy that invested a ton earlier this year. Believe his name is Visser. He is the man that created a huge fortune with furniture store and is worth over 200+ million.
I believe he invested 5 million total and has shares avg price of about .11. And this was LAST year. When that announcement came, the share price was .29 to .30 area. It got knocked down to what it is now because liquidmetal wasn't in the new iphone. It should be in the next one.
The other important piece is, the Visser guy can't vest any shares for 4+ years. I want to say he has over 50+ million shares in the company. They are thinking by 2014 it will may be back on NASDAQ.
Of course, this is all everyone's dream. But been watching this all year long and I did make some decent money on it earlier in the year before I got out. I jumped out when I figured that new iphone wasn't going to have any in it. I'm glad I did cause it dumped down.
I would like to get in soon, but still holding out until end of Dec for PCX. After that, this may be something of a long term "gamble".
I believe you think this will keep dropping a little bit lower, is that right Ernie?
I know they have possible contracts with govt, and those are in "testing" phases since earlier this year, or end of last year. Apple did re-up on their 2 year contract (they paid $20 million over 2 years for their rights). They did it again, but I never saw if they got money again or what for another 2 years. In any case, apple will be using it by next year or soon after and that is why I'm thinking "long term gamble".
whoa! no issue of new stock? didn't get completely blown away and start from scratch?
only if that would happen with pcx
yup, I fully agree. I'm actually a Sr Security Engineer with a security clearance and we aren't supposed to have any of those (FB, twitter, etc). IF you do, you have to following these strict guidelines to ensure it's "secure". Which is ironic IMO.
IF either of those go up, it won't be for awhile anyways. ZNGA will either go away, or be bought out by someone, but I wouldn't think it would be for much. FB may buy them at some point to keep integrating them into their site and take it over, but it won't be a huge deal as others.
nice to see that PCX decided to all of a sudden go up a little bit.
funny a couple of friends also mentioned ZNGA and GRPN. one of the reasons for ZNGA was that they were looking to FB to buy it out like FB bought out the picture place. I think some of the recommendations are just for a quick 10% though
didn't get any filled...may try again tomorrow
well, I do have $20 left in my account, guess it couldn't hurt to put in a bid for that. only $20
interesting ticker...that's funny.
like how it went from .52 to .0001. wow.
I've also been watching CBIS. It looks close to the bottom, if not it will be soon. volume is huge. 52 week is is .24 and it's at .06 right now. This one I've been watching for the past 9 months, but haven't done anything. This, and NNVC are ones that may just hang out for awhile before they will eventually blow up, depending on any breakthroughs, etc.
wow, I missed that. This is why I keep doing my DD and double check with others (like you!). Because I'm not looking to jump into anything till start of new year, I haven't been really digging a ton up on tickers, just been watching.
I figure if I don't get out by end of the year on top, I can at least write off the losses. Or so, I hope I can.
I would rather NOT have any losses and huge gains, but don't seem to be winning on that front. That's what you get for being an idiot and putting all eggs in 1 basket. I have high hopes that venue and EC decision on Dec 11th will help get it past the .20s. I'm not even going to think it will be .50s or even $1. I just want to get out even or a little on top and not get greedy on it. If I wait too long and get too greedy, i will end up with nada.
once the new year starts, I'll have a few ideas that I may look at. I'll run them by you, or see what recommendations you have before I make any calls on it
wow...that's amazing!!
Hey Sam! You still with us?
I wanted to ask if you ever contacted any of those places that have filed the suits against PCX. You were in pre-BK so I figured you would jump on that to get some/most of your money back. Wanted to see IF you did, what they said to you and all that.
GFDV? I show that currently at $1.74. Weird?
I see bid is .10 and ask is 1.75. huh?
been watching UBRG for a long time. They are really low and small right now, but if natural gas keeps going up, they have a chance.
wanted to get in at .005 a long time ago, but haven't had a chance.
check it out. As usual, I'm hoping to pay back your wisdom with some of my stuff I've been watching. I'm still stuck where I'm at, but going to keep doing all my DD on all the tickers I have in my watch list, so when the time finally comes for me to jump out on top, I have something to jump into (and hopefully make something!)
you help me, I help you, and we all win!
no worries! I thank you, and everyone else for serving. I didn't have that honor, but most of my family has (Grandfather was at Pearl Harbor when it was hit, he got hurt, was in hospital for 6 months, then went back out to sea. He got out in 1947). My dad served navy as well, uncle army, brother is air force, one cousin army and another marine.
yeah, it looked like many companies took a lot of hits. I'm holding out so it can settle down. As mentioned before, going to give it until end of December and if venue decision and the EC approved by Dec 11th doesn't get this back up, then I may just say "forget this" and try my luck elsewhere.
I fully agree. Majority of americans voted for obama, but they don't know what they are going to get themselves into. the rest has to suffer. I'm completely baffled about how he is going to create more jobs, when in fact he is destroying thousands by putting coal out of business. Not too mention all the old retirees that served for so many years in the coal when we needed it the most (e.g. wars, rebuilding of the country, etc). He obviously doesn't care about that.
My dad has been out of work for so many years. He, like you, doesn't want to collect unemployment. He finally had to when he was going to lose his house, and do bk himself. And even that is barely enough to survive on. Out of the past 6 years, he's only worked a couple of times, and the longest was 6 months. Of those 6 years, he's only worked a total of maybe 1 year of those. Pretty pathetic. He's a computer guy (like me) and like a lot of things, because of his age he is discriminated against so its tough to find work. He has settled on doing security work by watching CCTV monitors at a warehouse at the late swing shift. Gotta do what you gotta do.
I guess that's my "dream" with trying to take so much money and invest it and make money, so he doesn't have to work and can finally retire (he's 69). Very unlikely he will ever get to. I'm also trying to get enough money so I can enjoy my time with my little one (he's now 10 months).
I will get a hang of this, but it looks like it will take awhile.
ok enough of my sob/boring story
thanks again for everything, hope you continue to have a great weekend and hope your new business plan works out great!
hey Ernie! Didn't see any replies to my posts. Hope you have a good weekend, as well as a good veteran's day on Monday.
Here's to being thankful for having the freedom to choose what stocks we want to take a chance on.
going to quit freaking out and keep waiting it out. I have high hopes venue decision and EC on Dec 11th will get us out of this gutter
saw some big buying today for pcx. then some huge selling off right after, then some big buys again. saw a couple of buys of almost 150k shares. then later on someone sold over 200k shares
it's tough to figure out, but someone is buying a lot of big chunks. You would think that is a good sign. I know others are selling off, most likely to cut losses and move on. But the big buys of those huge chunks could be some positive sign that someone believes this isn't going to keep going down.
gonna be a long november. hopefully we have a good december.
anymore thoughts/opinions?
try re-reading my comment again:
"...the price of the stock was holding steady"
key word being "was".
The past tense (abbreviated pst) is a grammatical tense that places an action or situation in the past of the current moment (in an absolute tense system), or prior to some specified time that may be in the speaker's past, present, or future (in a relative tense system).[1] Not all languages mark verbs for the past tense (Mandarin Chinese, for example, does not); in some languages, the grammatical expression of past tense is combined with the expression of mood and/or aspect (see tense–aspect–mood). Some languages that mark for past tense do so by inflecting the verb, while others do so by using auxiliary verbs (and some do both).
the stock WAS holding steady BEFORE the election was over. It was hanging around .17 to .19 area.
AFTER the election is when it obviously tanked
point being, those were holding even WHEN Obama was still in office. There is no change in that, but the other point being that it appears that "maybe" it was going up to that point, and "holding" around those number because people were "hoping" Romney was going to win.
that fung guy is hilarious. That guy is always negative and bashing on pcx all the time.
been quiet over there for a long time, guess no one really has anything to say as it does keep tanking. fingers cross on the venue decision and EC is approved in December. I'm still baffled with 500 million in equity that it's still this low. yeah, I know, it's in BK and those are being spent by lawyers and they are losing money, but at the same time, you would have thought that the company wouldn't just blow all that money away. I know they also have to make sure the debtors are paid, but thought was the point of the financing they got approved for.
Oh well, guess I'm just freaking out that it has almost got cut in half since monday/tuesday. amazing how bad things get hit with an election
not sure if I'm going to make it until end of December! haha
exactly. I figured the BK would have wiped this out a long time ago and the fact that Obama is still in office and the price of the stock was holding steady. I'm assuming it's people hoping Romeny was going to win
Anyways, you would "think" that the approval of the EC on Dec 11th would at least push this up a little more. Or will that not even matter?
anyone still here? sure is quiet.
sweet, at least one of us will still be in the green
this is definitely killing me. Should have sold at the .18. Woulda coulda shoulda. Oh well. time to really dig in and just keep holding out. gotta be some light at the end of the tunnel soon (hopefully).
aoneq is looking interesting, like to jump on that. Need to keep on doing DD for several I'm looking at so when I DO finally get out on top, I can see what my next play might be
goal is to get out by end of December where I'm in at now, unless it pops really well and I can get out sooner. Not sure how much I should keep holding out on. Still got a long ways to go huh?
I would also think with winter coming up, we would get some good numbers in to help out. But, at the same time it's in BK and they may not even be trying to produce much at all to make any money, sort of scuttling it a bit to keep it down and in BK
wow...just wow...huge sell off this morning already, really?? good lord!
hope you are able to jump on these new lows Ernie, wish I could. Guess it's going to keep getting rough
hmm, have me tempted to get out of what I'm in altogether and jump in the other. I've been doing nothing but losing and losing and gone nowhere, it would be nice to finally make some money back. Only thing is, to jump back in to PCX after at the low levels it's at now, or to keep going elsewhere. I guess it would be a "wash" if I was to do that. Hmmm, what to do.
you can PM me if you wish to give private advice. I can give you my email address as well if that's easier to communicate offline.
wow, maybe I should sell some and get in at AONEQ then to make my money back....all I keep doing is losing and losing where I'm at now. Definitely lesson learned, like you mentioned. don't put all eggs in same basket.
glad the tickers look good to you that I shared. I agree on the one that is may keep dipping below .10 and down to .07 or even .06. I'm hoping by the end of December I'm finally up where I'm at now, in the green. I can then sell out and look to try and get in at those levels (I'm sure they'll be around that level in December). get a few on that and probably hold for awhile as it will be a little bit before it gets up there again.
I may avoid the other, PULS. It dipped way more than when I told you about it. Not sure what's going on there, but will keep watching.
How confident are you on the AONEQ? That would really help me out to get double in a week.
really good recent article for coal
http://seekingalpha.com/article/990521-sell-off-in-coal-stocks-an-overreaction?source=feed
I've had this on my radar for a long time, been watching it go down and down, further and further. Not sure if they will go the same route as PCX with BK, but its tough. It's a legit company like PCX called PULS. It's right at the 52 week low. Earning just came out and its going down further.
Its very cheap at .48 or .49. If I could, I would like to jump on that, but going to stick out PCX, at least until end of 2012 before I jump ship on it (unless it finally climbs out)
If PULS is still in same area by then, I may jump over there.
Been watching PULS and LQMT. Both will be something I would jump in and probably won't make anything for awhile, but I figure they are both at the lowest points.
If I can't make anything on it, at least I can do is pass it on to you to check out. Least I can do for all your help and guidance throughout PCX stuff
man, big dip today, but looks to be climbing back up. you able to snatch any up in the .13s?
I keep banging my head on the desk when I keep seeing it drop that I can't get any at that level, but also at the same time cause I'm still avg .31. UGH!!
can it be December 11th yet?
You think this will gradually climb higher and higher as that date gets closer as people may anticipate it being approved?
Or is that date just to hear it be presented to have a committee? Thought that is when they decide on it
lordy I hope so!
everything took a hit today, but coal probably the biggest hit.
looks strong to keep going back though, like you said
looks like it closed at .149. guess could have been worse. will see how rest of the week pans out
yeah, it is. But if I sell out while still being under (avg is .31) I need to at least get into something that I can cover really well on. Definitely tough decision to make. Either just keep sticking this out and maybe look at how well it does AFTER they decide on venue and EC in Dec 11th.
Its tough. It may get to the point where if I break even at .31 to just get out and go elsewhere. But, if it gets to that point, it should just keep going up. At the same time, to remind myself to NOT get greedy either.