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Derogatory posts???
Many months back,I merely expressed an opinion that due to the lack of an asset sale in the offing and the POR just around the corner, I didn't like Cemjq chances.
You and I both know only too well that this opinion held water (bucket loads...considering the bonds Cemjq has to pay off).
Enough already...give it a rest. Peace out and GLTA
"I already knew you sold out long ago, no need to tell me again."
I never told you that I sold out of Cemjq until I PM'd you today. I only ever intimated that I was considering exiting (this was done privately,not on the Cemjq public board).I only shared my sold out position in Cemjq, with one other Cemjq board member and that was via PM.That type of information belongs only in PM's if one chooses to disseminate it.We all witnessed the what a public dissemination of ones exit points can do (the MC debacle, anyone?)
Posting exit points on a public board is a disservice to the board members who still hold their positions.If you want to sell, do so quietly.Also,I didn't sell out "long ago" as you so succinctly stated. It was after the MC dust had settled, so don't distort my personal exit points.You're not the all knowing Yoda that you purport to be, so give it a rest already.
I actually re-entered after my initial sale and played the Cemjq flipping game.It's the best game in town with a stock as manipulated at Cemjq. I didn't come back to the board to boast about my flipping prowess like some are prone to do on this board and other boards.
BTW, sharing a persons PM info on the public forum is a TOU violation. Don't worry, I ain't no Arnold and won't run to tattle tale on you to the Admins. Seriously you need to tone down your urge to disseminate private information publicly. Hope for the sake of your fellow Cemjq shareholders that you can carry the EC mantle with more discretion.
My apologies to the Cemjq board for the recent OT banter.Well, it's back to the no message board discourse for me...it's infinitely less taxing on one's psychological well being:)
Good luck to all the Cemjq longs...
Wall,thanx for the PM...true to form as usual!
Whoa! Slingfest City in Chemville...what else is new?
Wall, the board appreciates your efforts with the EC and your contributions to the board prior to the alliance. I always liked your shoot from the hip banter. However, you veer into the caustic realm at times. Your attack on HFields (all we need is a machete and blood splattered walls to set the tone) was uncalled for.
Charts do have their place and trust me (ask your Tute buddies that have been calling you), all those brokerage houses use algorithmic trading .Every place I worked at had their black box system ready to sell at breached support “chart” levels and ready to spit out an avalanche of trades at warp speed based on programmed variables).Fundamentals are king, but that doesn’t necessarily make charts a lowly chessboard pawn.
I didn’t participate in the alliance. I had my reservations about Cemjq due to the lack of an asset sale, so amended my exit strategy (we all have our own risk tolerances…to each his own). However, then players like SVP came on to the scene and bolstered Cemjq’s chances. The participation of funds and Tutes in Chemtura is a seismic vote of confidence.
Wall, kudos to you, Jax et al. for mobilizing the EC effort. However, you didn’t do it to bolster HFields, RJ’s or anyone else’s portfolio…you did it to bolster your own. Lets not play overplay the Martyr card. Wall, deleting charts pertaining to Chemtura is out of bounds. I do appreciate Hfields charts and there are many on this board and other boards who do. There are those that contribute DD and those that contribute charts on each board...both are valuable contributions.
Wall, divulging personal information (alluding to HFields # of shares) was way out of bounds. HFields contributed to the formation of the EC (to help his own bottom line and yours in the process) and you repay him by betraying his confidence. I’m so glad that I didn’t participate in the alliance for this reason alone. I did my own behind the scenes foot work by writing to the Trustee and contacting Mr. J (won’t divulge his full name to the board...may not be appropriate to do so) at the SEC.
Wallstreet, anyone reading your post betraying HFields’ confidence would be wary in the future to supply personal information to a public board to form an EC. People value their privacy (some more than others) and do not want their personal information strewn all over a public message board. You did a service to Chemtura shareholders mobilizing the EC, but you did a disservice to them betraying their trust.
I don’t know why people got so rattled with the recent drop...it’s par for the course in Chemville! The manipulation of this stock is blatant (that nosedive to the 40’s was akin to a DNDN move).
Anyway, good luck to all you Chemtura Longs and keep it civil, otherwise I’ll sic Arnold on the board:)
Iggles, good to see you here. Just wanted to emphasize caution with respect to the Irish banks. I know people view AIB and go "Oh it was trading at $60 back back in 2007...it's way undervalued".
A reality check is in order!Nama is not the cure all that the Irish government purports it to be. It will also take Ireland years to recover from the stranglehold of its current recession. The U.S. economy will rebound faster than Ireland or those other smaller scale economies.It's the nature of the narrow scale (when it booms...it booms big and when it crashes, it crashes equally big!).
A Dutch acquaintance of mine lost all his deposit in an Icelandic bank. Many Dutch and British people lost their savings when the Icelandic banks faltered (the British and Dutch goverments were left holding the bag!).Iceland is a modern developed country,so it's quite shocking to witness the collapse of that economy. The smaller scale of the Icelandic economy (same for Ireland)facilitated its collapse.
Anyway,just thread carefully with these smaller scale economy banks and you should be fine. Yeah, that other play is a soap opera with a revolving door of characters. Good luck with AIB and your Q play:)
All 4 engines have stalled...please put on your bicycle clips:)
The Irish economy is swimming in the abyss (they're far worse off than us...high unemployment and the return of emigration...Celtic Tiger no more!). The greedy developers left the banks holding the bag (not to say that the banks didn't deserve it...there was greed on both ends of the spectrum).
Property is on a nosedive in Ireland right now...not good for the banking sector when you get more people upside down on their mortgages. The banking industry will be pushed to the brink over the next 2 years when all this wave of personal debt crashes down on them. The current NAMA deal leaves their balance sheets threadbare.
For those with higher PPS on AIB or Ire, thread carefully...they're in far worse shape than the US banks ever were or could possibly be. Whilst the US banks lost about 25% due to the housing collapse, the Irish banks suffered a far more devastating loss due to the smaller market. The more narrow the market, the more severe the blow (hello Iceland!).
Not preaching doom and gloom. Just a friendly observation. That being said, this could be good for a nice bottom bounce (the trick is finding that bottom:)). Did well with the Irish and Brit banks over the past year...they're back on my radar again, but I will thread very cautiously.
GL and don't forget those bicycle clips:)
Wow! What nice, well mannered folks we have here...thanx for the complimentary viewpoint RJ!
I have never done anything malicious (nice character assassination there Floyd!)with respect to this board. I have to the best of my knowledge offered up measured, well thought out, honest(no pumping or bashing) opinions.
Floyd, it was you that bemoaned MC’s absence. Your post on the matter "Madclown, miss you dude!! Wonder what happened to him, not normal for him to stay away so long." clearly infers you were relying on him for DD. I’m not speaking for you...you clearly spoke for yourself on the matter and then morphed into a turncoat when MC bailed ship. You have also been in attack mode or at least antagonistic with respect to some members (most recently ByMor ) when they pose a question or offer insight that is counter to your own.
The board should be able to table a discussion that highlights both sides of the equation. If someone on this board had some pertinent information that would torpedo the stock price (some here have access to info that give them some added insight), would you not want to hear it? Or would you prefer to log into your account and find your precious Cemjq wallowing at 3 cents (trust me this can drop like an anvil when bad news hits...those in the know will be front running and out before you!).
You may not want to read about a doomsday scenario, but if true that poster may very well be a savior with respect to your P&L. Just food for thought for some of the Pom,Pom,Ra,Ra crowd! RJ...perhaps Floyd can get you out in time...keep him close (the blind leading the blind I’m afraid!).
With respect to MC, I did say that his announcement caused the drop in share price yesterday...I was very clear about that in my posts! I also implored people to quit posting about their # of shares, entry and exit points (several times already!). Yes, MC should have been more discreet with respect to his announcement. There was no need for such an announcement at the time and manner in which he posted yesterday.
If only 25 of his followers with an average of 250K shares bailed yesterday, that added up to over 6 million shares. Those that were ask slapping in the morning took full advantage of yesterday's panic selling. I'm somewhat bewildered that a man of MC's obvious intellect didn't foresee the scenario that played out yesterday.
The guy is fallible and made what I view as an honest mistake...his body of work with respect to his DD still deserves respect. RJ, thanking someone who has offered up the caliber of DD that MC has is not brown nosing...it’s called respect! I also have acquaintances outside of this board from the industry whose opinion I value above any on this board, merely because they have their finger on the pulse. However, I ultimately follow my own counsel.
I knew MC’s announcement would tank Cemjq yesterday, but I also ultimately knew that it would have no bearing on Cemjq’s endgame . I do however understand the ire directed at MC yesterday (doesn’t excuse the name calling!). MC’s announcement effectively killed the momentum yesterday...no question about it. However, I’m here for the end game, so intraday swings are of little significance to me (unless it’s some major player doing the swinging!). If I see a play (certainly not MC bailing) that makes me question my decision to remain in this stock, then I will evaluate and bail ASAP if needed.
Cemjq recovered nicely today...yesterday’s retail exit was a blip on the radar (as I knew it would be!). Folks here need to be more concerned about other matters pertaining to Cemjq (retailers exiting...gimme a break!). We are coming down to the wire and the next few weeks are critical for the longs. I will definitely be keeping my ear close to the ground (will miss MC’s astute insight...don’t think Floyd or RJ will fill his shoes!) over the coming weeks. It’s do or die time people...wake up and smell the Napalm!
Anyway, this will be my last post on the Cemjq board...too much mudslinging for my sensibility! Good luck to all the longs and don’t shoot the messenger (you ultimately may end up shooting yourselves!).
Excuse the OT (well some was OT...some not)...was gonna post later this evening, but since there’s a lull on the board, perhaps my “maliciousness” won’t disrupt the board too much.
Didn't Pilgrim pride employ fresh start accounting?
I wouldn't mind a fresh start ala Pilgrim pride:)
Floyd you have been in constant attack mode with respect to some posters on this board..knock it off!
Madclown was an awesome contributor to the board. Skauble, I and MANY others relied on his DD. Whilst it's true that I didn't board this stock due to MC and won't disembark because of him, I did value what he brought to the table.
Do you have any idea how much time and effort DD takes, especially the caliber of DD that Madclown shared with the board? I did some DD initially (didn't come close to the caliber of MC's DD)and shared my findings with the board.
It's a time consuming activity! I was relieved when Madclown showed up because quite frankly I was able to ease back in my lazy boy somewhat.I guess you don't realize how draining DD can be because you've been reclining in your lazy boy since day one, whilst others did all the groundwork.
Sure, you might have boarded Cemjq of your own accord, but there are many here who would have bailed sooner (in the .20's) were it not for the awesome DD on the Cemjq board.
Quit your whining and your attacks! If you want to be useful why not decipher some court documents or are you permanently wedged into that lazy boy of yours?
Folks, lets move on...MC made his choice and followed his own counsel (ultimately we all will come to that crossroads sooner or later). Those court docs that had him so rattled stemmed from yesterday, yet Cemjq vaulted past a buck this morning. Evidently the big players (ones that are infinitely more privy to pertinent info than MC or the rest of us) had no issue with the documents in question when ask slapping this morning.
They were eager to get some skin in the game by hitting the ask to vault us past a buck. Of course when they saw the panic selling, they did a happy dance and resorted to sitting on the bid. Folks a lot (a heck of a lot!) of shares were scooped up at the bid today.
It's too early in the game to throw in the towel just yet. Are we home free, NO!(an asset sale would go a long way towards safeguarding the commons). However, are we teetering on the edge of the abyss?... make that another emphatic NO!
GLTA...
Of course when they saw the flurry of exits after Mc's post, they probaly couldn't belive their windfall
Nsom...respect your insight, but I gotta respectfully disagree with your contention.
Cemjq vaulted past a buck this morning on the momentum of big money. The Big fish were ask slapping because all the selling at the bid had dried up.
Professionals do not ask slap if they can feed at the trough at the bid. They are also not as trigger happy as retailers...they have the luxury of time and inside information at their disposal.
Whilst retailers didn't vault Cemjq up, they can certainly temporarily (I stress temporarily!) displace the PPS when they decide to offload. MC had many followers and garnered much respect. As such, when he decided to offload, a minion of minnows followed suit.
The professionals who are monitoring this board saw today's event as an opportunity to scoop up shares at the bid. MC (or any of the other minnows) offloading will not effect Cemjq's endgame. If the powers that be (not us!) see value in Chemtura (they evidently saw value this morning when they vaulted it past a buck!), then Cemjq will continue the strident march towards a buck and beyond.
Folks there are no guarantees here...we all have to follow our own counsel at the end of the day. Madclown was a valuable contributor to the board and I'm grateful for his astute observations.
It's all about the endgame...if the PPS can't withstand a retail exit, then Cemjq's PPS was never going to bust into the stratpsospere to begin with.
The longs are here for stratospheric heights, not 10 steps up an old rickety ladder. Time will tell if Cemjq is an old rickety ladder or a stratospheric nose bleed.
Good luck to MC and all the remaining longs. Here's hoping for some nose bleeds up ahead:)
This reminds me of Scrat the squirrel from Ice Age...he caused an avalanche whilst trying to hide his Acorn:)
MC decided to offload...that's his prerogative. MC, CMM or any of the other IHubbers didn't vault Cemjq up. Yes, we contributed to DD...kudos to MC and those of us who did.
However, MC or the rest of us "minnows" did not muscle Cemjq up...this rocket was and is being steered by other entities.
The big Fish who were ask slapping this morning (sure as heck wasn't retail)are doing the Happy Dance right now! They are monitoring this board to gauge your sentiment.If even a whiff of fear is bellowing from the board, they will take advantage.
They eased back in their lazy boy to bid sit after that mini avlanche. Why ask slap when you have some nervous minnows willing to hit the bid?
People, I will repeat for the umpteenth time, IHubbers or retailers do not dictate Cemjq's endgame. Follow the money people...keep it simple:)
I will also reiterate that its advisable to keep # of shares, entry and exit points to yourselves. If you want to share such information, do so via PM. The board is being monitored...don't show them all your cards.
GLTA
My bad CMM...jumped the proverbial gun.
The board has devolved into an ego fest off late. I was even hesitant to post last Friday, but felt compelled A) to reprimand some misbehavior (although not really my job!) and B) offer some insight into what I thought played out.
I'm glad that MC threw down the gauntlet...it needed to be done. I wouldn't like to be on this board if MC, Wallstreet and some of the other stellar contributors decide to take their game elsewhere.
Anyway, here's to a better week ahead for Cemjq...
"Any hack could come up with a plan of asset sale or nothing"
So perhaps Wallstreet and I are both hacks?
Real classy CMM!
I wouldn't go all huggy bear on Rogerson.
The creditors and Rogerson get paid regardless...we don't necessarily get paid!
I prefer to increase the odds in my favor and an asset sale accomplishes that.
Telling it like it is...please take some notes!
Recently there has been far too much bloviating on this board and not enough DD (Mods need to get the bullwhip out more...CMM get cracking!). That was part of the reason I cut back on posting...uncouthly behavior on the part of some members.
Jellystone man, I'm not honing in on you per se, as I do believe your heart is in the right place. There is one particular offender on the board (won't call him out here...mentioned it to MC via PM.) who bloviates incessantly and doesn't provide one lick of DD or thanks to those who do.
Some here naively think that you are amongst friends, but you are also on display on a universal domain with lurkers that are most assuredly not friends! I used the Manny the Mallet analogy the other day in the hopes of quelling some of the overt banter, but MC summed it up more succinctly. This board and others like it is a barometer of market sentiment...it will and can be used against you.
Cemjq has edged back from the abyss, but we are still far from home free. Wallstreet (the voice of reason on the Cemjq board) alluded to the fact that Rogerson is blowing smoke and is indeed planning to offload assets. Well I sincerely hope so! The court docs infer an asset sale is indeed in the works, whilst publicly Rogerson is quelling an asset sale scenario.
The credit markets are still tight (even Peltz the man with the Midas touch couldn't get his IPO off the ground). We need a combination of an asset sale and refinancing of the bonds to reel in a favorable outcome for the shareholders.
Don't want to burst anyone's helium bubble, but it's fiscally impossible without an asset sale. Those bond holders require full, not partial payment!
Friday's anomaly was unfortunate. It showcased how a person can initiate a stellar entry price, but follow it up with an asinine exit.
Here’s hoping for a more streamlined board and a more streamlined Chemtura going forward:)
Phrantic...Cemjq dropped to a low of 2 cents. Anyone with 30-50K could have scooped up a boatload.
Just because they had the wherewithal to scoop up 1mil-2mil shares at 2 cents doesn't necessarily infer that they are savvy enough to exit at the correct price and in a correct manner. A professional trader doesn't make sloppy exits in the manner we witnessed on Friday. That's not how I was trained when I worked professionally...there was a certain protocol to follow when offloading "large" positions.
I think some ill informed retailer offloaded a sizable position and a minion of nervous minnows followed suit. The bids were thin on Friday and although money never sleeps, Jax noted that it was a holiday. Once those holidays roll around traders mill around the water cooler, chit chat and then they leave early for their long w/end (i.e they weren't even bid sitting last Friday).
Just giving my perspective from my vantage point. We all have certain vantage points that can sometimes offer an enlightened perspective on events. You worked in the court system, we have some accountants on board, some ground level people dealing with Chemtura (very valuable perspective). Heck! even Jax worked for Peltz one time and gave us a first hand insight into what a control freak Peltz was (Snapple anyone?).
Anyway, I'm glad we flushed out some weak players.It clears the runway for the next ascent:)
Manti...The 401K offload is hearsay. Your scenario with respect to the brokerage driving down the price does have a faint ring of plausibility.
However, I think Friday's mini avalanche was initiated by some retail player who scooped up a boatload in the single digits (his/her exit seemed very unprofessional). From the perspective of vaulting Cemjq up, retail is a "non player". However, retail that bought boatloads in the single digits can temporarily depress the price when they decide to offload like a fat fingered methhead!
A professional entity has guidelines in place when offloading large positions. They don't just dump on the bid...they ascertain what the bid can absorb and exit accordingly. You are directed to sell into strength or hit a bid or two, whilst striving to snare the best price for the firm.
A fund/tute won't try to exit a large position in one foul swoop if the bids are thin (the bids were razor thin on Friday). The proper trading discipline involves exiting your position piecemeal over a few days or weeks to snare the best price(unless of of course some catastrophic event occurs).
Look at how Cemjq was powered up. A professional entity sat on the bid in a calculated manner for weeks on end (our prolonged time in the .20s saw some patient bid sitting). Only when the bid dried up, did they decide to hit the ask. That's how the pros do it...controlled and calculated.
I would be very surprised if that was a tute/fund player on Friday. It just smacked of a retail player who had no sense of how the thin the bids were.
Manti you were on point with respect to Soul Washer...Pm'd me touting his board and supposed trading prowess...Puhleeze! My apologies again to the board for some OT posts. We should keep the focus on Cemjq and only Cemjq!
I appreciate Nsomniyak dropping by to share his insights. He doesn't post much,but when he does he makes a contribution germane to the discussion at hand unlike SW with his braggart behavior(seriously get a clue already!).
Anyway...nothing has changed fundamentally, so looking forward to Cemjq breaching a buck "yet" again soon:)
GLTA
Jellystone man..ya know I have a soft spot for ya, so please don't ride off into the sunset on us:)
I do enjoy your posts...for the most part, you have a measured well thought out perspective. Sorry, I did think you were a bit skittish today with your woulda, shoulda, coulda spiel. Also, I don't think it was a recent 500K block buyer that was offloading. Trust me they are just as greedy as the rest of us...they're here to play hard ball, not scalp some pennies!
Also, I guess I stem from the low key part of spectrum, so I'm reticent to post too much personal information on a public forum. The Cemjq board was my first venture into posting on public forums (I was coaxed out of my shell by the awesome DD and insight this board had to offer). The Cemjq board has been a veritable wellspring of DD and knowledgeable banter...hats off to all the participants.
Also, a public forum is a universal domain, so I would be wary of putting yourself out there too much...you don't know who's sitting behind the other side of the screen sifting through your posts.
Hey that's just me...perhaps I'm a lil paranoid...I've seen the dark side of human nature, so I'm very wary.
Best of luck going forward...please don't be a stranger.
Right on phrantic!
Yep! Pilgrim had quite the roller coaster ride.
I posted this back in June, but I think a repost wouldn't be out of bounds. The following are some of the daily fluctuations that Pgpdq encountered before vaulting into the $5 dollar stratosphere. It depicts the daily low,high and close respectively.
12/02/08 .14-.28 .15
12/15/08 .65-.93 .92
12/29/08 .58-.65 .59
01/08/09 .75-.80 .79
01/26/09 .46-.60 .46 (bet some peeps bailed here!)
02/04/09 .84-.96 .95 (same peeps were miffed here!)
03/02/09 .86-.97 .95
03/16/09 .95-1.19 1.07 (first peek at a dollar!)
03/23/09 2.11-2.99 2.30 (the 2.99 was the March high)
03/31/09 1.61-1.91 1.80 (damn! why didn't I sell at the high!)
04/30/09 3.85-4.22 4.00 (scratch the previous comment!)
05/05/09 2.70-3.39 3.16 (time to shake the tree one last time!)
06/02/09 4.80-5.00 close of $5 (Yay!$5...shake that:)
The Clucker closed at $6.86 today. However, it was shake, rattle & roll all the way up.
Folks, they will make you exert beads of sweat all the way up to the $5 stratosphere and beyond. No stock powers up in a smooth linear fashion (sorry...it ain't that easy!).
People will offload on the way up...we had some of that happening today. Some player offloaded (I think retail, not a tute)and the some nervous minnows followed suit. All the stops got triggered on the way down...don't think it was orchestrated. It was just a matter of some ill informed retailer offloading (ill informed because he/she hit multiple bids as opposed to selling into strength).
They perhaps didn't realize how thin the bids were and ended up making a costly mistake. A professional trader/tute would have offloaded enough to have his/her shares absorbed at one, two or three bids.Today we had a bull in china shop that couldn't get out of his/her own way.
We had a a lot of institutional selling back in June...no bull in china shop moves there. Millions were offloaded and yet all we saw was a slow bleed. A professional entity doesn't trade the way we saw this traded today.
Anyway, just giving my perspective...GLTA:)
Me 2 bud...(traded bonds, futures, equities on a professional level)...big whoop!
I don't go around bloviating about my trading prowess. I don't care if you are a trader or a carpenter by profession. I value someone who contributes DD to the board or at least someone who tries to make a positive contribution (even something that is contrary to my own opinion).
Actually, there is a member on this board by the name of Jaxstraw and he is a carpenter by trade.He has been an invaluable contributor to the board. I'm sure Jax could teach you a thing or two about trading and wads more about humility.
Actually the college kid JD schooled you pretty well today:).There are accountants, housewives, blue collar, white collar on this board. A lot have contributed some awesome DD...you have contributed squat!
I will take a carpenter contributing DD any day of the week over a bloviated trader who contributes squat!
You have been schooled "trader"...go crawl back under your rock!
To offset a deletion for being off topic...erm, we had some profit taking today...chill! Cemjq will breach a buck again soon...don't sweat the small stuff!
My apologies to the board...I loath braggarts that tout their own horn.
Those who feel the need to characterize themselves as "pros" are for the most part "wannabes".
I saw it on the trading floor in all its glory...the braggarts were small time and the guy/gal with the pensive reserve were the real pros.
A real pro is comfortable in their own skin. They have no need to bloviate about their trading prowess...those who do are insecure "wannabe's".
Oh just so I don't get a deletion for being OT...Go Cemjq...erm...healthy pullback today:)
Nsom...I had a fleeting thought of DNDN today when I saw that swift drop.
DNDN did a full 50% drop, but whoa! that was highway robbery at it's classic best! All the "innocents" had their stops taken out and the orchestrators cleaned house.
That was an awesome display of the carnage that befalls those that leave stops out. However, I think what we saw today was merely some profit taking.
Nevertheless, it would behoove people not to leave their stops out, just in case:)
We had some big whale decide to offload today and a minion of scurred minnows followed suit...it happens!
Actually, big whale may be a misnomer because it may have been someone who bought a boatload at .03, so he/she found it too tantalizing to pass up a chance to cash in their chips.
There is a seismic difference between a $50k player and a $500K+ player (we had some big player part with $800K last week just to get some skin in the game...ya think they know something Charlie IHUB doesn't...YEP!).The bonified big whales (ones that bought 500K big blocks at .80+ cents) are the ones that are steering this rocket. Trust me they are fully aware that $1 is merely a fleeting pit stop to $5 (I’m talking short term, not long term...long term, we bust through the rafters).
Shoulda, coulda, woulda has no place in trading. Suck it up already! Also, there is no need to broadcast # shares or net worth “repeatedly”. CMM, this is not directed at you per se...you happened to board in the .02’s and bought a boatload (you were entitled to some chest beating!). Frankly I'm bewildered at how some people here broadcast their personal financial info.
This is a public forum...might as well send out an RSVP to all the miscreants of the universe with an embossed invitation "Rich portly white A$$ coming soon to a Cabo near you...please hold me for ransom at your earliest convenience!" . It is not my intention to offend anyone. However, bear in mind but that this is a public forum. As such, please temper your desire to share overt financial disclosures...Mallet head Manny might get some ideas!
Anyway, my Cemjq P&L tool a wicked swing to the crimson today...not breaking out in beads of sweat! I’m here for the main course and they don’t start serving that at a buck. We had a swift retracement today...no more exsanguinated slow bleed like we saw at the beginning of the summer. We needed a little breather and we got it...RELAX!
The strident march towards a $1 and beyond will commence again soon ("beyond" being the operative word here!). Also, for the noobs, please don’t leave your stops out...that’s akin to Lil Red Riding Hood ringing the dinner bell for the big bad wolf:)
GLTA
Are we there yet:)
Congrats to all who had the intestinal fortitude (our prolonged time in the .20's boosted pepto sales!) to hold on.
$1 up to bat this week...not planning to hit the eject button anytime soon (enjoying this ride too much:))
Turbo, as always...great to see you on the board.
Yep, the 5 handle is a given...it's just a matter of when.
Thanx Oaps...
I hope that Chemtura ends up offloading their PVC additives division as opposed to the crop protection. Currently(and going forward), the crop protection is Chemtura's crown jewel.
It also bears pointing out that bond obligations notwithstanding, Chemtura needs to streamline their operations. The expected synergy that usually occurs due to a merger didn’t really materialize with Chemtura. The merger created a monolithic entity with too many tentacles off shooting in all directions.
This scenario is never good for a company, as it makes them woefully inefficient. They need to prune those business entities that are poor performers. This will enable them to focus on the cash cow areas of the company.
I would be more emboldened to hold Chemtura long term (several years) if they retained their crop business.
The Jellystone man speaks the truth:)
Nope...IMO has nothing to do with IHUB or the topic de Jour:). IHUB does not dictate the PPS of Cemjq...never has and never will!
The Big Fish that vaulted this up are waiting on retail bid whackers to score some cheap shares. However, it seems the retailers have wised up and are holding on to their booty of shares (ain't we a clever bunch:).
The last time we had volume this anemic was on August 20th (volume=353,000). The next day the volume ticked up to almost 3 million (the buyers had to hit the ask, as there were no more bid whackers at .50). By August 27th we breached .70 and last Friday (August 28th) saw us hit a new bk high of .84.
See a pattern? Yep, it has all the trappings of a Tom & Jerry cartoon. Tom (aka, the big Kahuna buyer(s)) is waiting in the wings to pounce on Jerry (aka, naive retailers hitting the bid).
Stay the course...$1 is imminent!
I don't think Manti or any of us here on the board stated that "the non-US subsidiaries all of a sudden not be important in the discussion of post-BK valuations of the stock"
I merely said that the crux of the matter is whether Chemtura's assets exceed their liabilities not the fact that only 45% of the company is under the bk canopy. Let me clarify that it does indeed bode well that the foreign subs didn't file for bk in their respective countries.
Even Manti stated "Now, granted, they did not file for bk protection in the respective countries where they are located, so that IS a plus".
I think Manti and I were alluding (excuse me Manti for taking liberties here:)), to the fact that foreign subs not being under the mantle of bk is not a de facto declaration that the commons won't be canceled.
The foreign subs not being in bk coupled with Chemtura's positive book value bodes very well for us shareholders. However, the latter trumps the former, but the former being part of the equation makes for some nice window dressing:)
Sorry...edit
I don't have a figure pertaining to the foreign sub debt load.
However, I do know that 40 million of the DIP financing was ear marked for the foreign subs.Whilst the the foreign subs may not be directly under the bk canopy, they are certainly benefiting from it via access to additional funds.
This voluntary decision to enter bk was the tonic that Chemtura needed to steady their gait. The credit crunch made it impossible for them (and many other viable companies) to maintain operations.
As such, Rogerson choose the optimum course of action that was available at the time (a strategic move that will pay off exponentially down the road). The other alternative would have entailed Chemtura being sold off at fire sale prices...not the road a man of Rogerson's caliber would view as a "good strategic move".
It's all about the strategy and in IMO, Rogerson executed a strategic masterstroke that showcased his sharp acumen (the same acumen that rescued Hercules from the abyss of oblivion).
Folks, we're in good hands here...don't sweat it (too much:)
Hf...the rallying point for the commons to remain intact will hinge around Chemtura's assets being greater than their libailties upon emergence from bk.
Foreign subs being outside of the specter of bankruptcy won't buttress the argument to keep the commons intact if Chemtura liabilities exceed their assets.
Back in June, the board discussed Spectrum, a company that also had subs outside of bk. However, due to their negative book value, the commons got canceled. See my post 24435 pertaining to that matter...too lazy to elaborate any further.
IMO, all things considered, the Grim Reaper of cancellation does not loom ominously in Chemtura's case.
GLTY
Utah is that you:)
If you all recall Utah bludgeoned the commons getting canceled issue to death. Anyone who posts repeatedly on the same topic (commons getting canceled) should either get acquainted with Prince Valium (he should quell your nerves!) or just sell already.
Of course, it's a legitimate concern, but bludgeoning the topic to death like Utah/Fisherman does is wasting the board's time. That topic has been addressed ad nauseum...put it to bed already!
Lol...Wally you are a laugh riot:) You’re the undisputed Sultan of gnarly wit. Fess up...you saw those big pearly whites and tossed Arnie overboard.
On a more serious note, we saw some frenzied thrashing in the waters on Friday. Beaucoup coin exchanged hands. It’s conceivable that the bond players are also nibbling at the commons. With the ROI on the bonds shrinking due to their encroachment on par value, the commons may replace the bonds as the soup du jour.
I know that the Peltz IPO got shelved, but I still think he is somehow involved directly or peripherally with the recent Cemjq action. Yes, he’s a billionaire and can write off his investment, but this guy has the ego the size of an elephant.
I worked for people like him...oftentimes their egos were bigger than their wallets. He has a cost basis of $11 and bear in mind that his son in law was on the BOD when they snuffed out a $9 buyout. Make no mistake...Peltz is getting his due and by default so are we!
GLTA
Still here…long & strong! Thanx for the PM’s...took a much needed break. To be honest, any disquieting thoughts I had ceased after Cemjq vaulted off those .20’s. That was potent confirmation that Cemjq was in play with the Big Fish (been on lazy boy duty ever since...now, I'm just latching on to their coattails:). Cemjq always needed muscle to vault us into the stratosphere (unlike Pppdq with their low float and high insider ownership).
As such, it was paramount that the sharks came to feast. (Psst...I think Wallstreet & Skauble were chumming the waters and threw Arnold overboard;).We saw some serious feasting and thrashing in the waters last Friday. There is no more slink or bid sitting like a sphinx...the Mummy has been roused from her tomb, so the chase is on!!
With respect to Megafauna’s assertion that 99% of us bailed, I gotta disagree. I think a fairly respectable % of us latched on below the dime threshold and just decided to buckle in for the long haul. I don’t think the same can be said for Pgpdq, Ddrx (not a bk stock, but wow! what a vault from .21 to $21), PIR, Ctic etc., Heck, I bought Bac, Hban, LVS, KFN etc., back at their March lows and only managed a double.
I didn’t think we would see the sustained vault that manifested itself from the March lows. I thought the market would collapse back down within a matter of weeks, but it just powered on up. However, when I boarded Cemjq, I along with many others here saw the phenomenal potential and just buckled in (I don’t plan on disembarking anytime soon!).
Well, it’s been a wild and wonderful ride...congrats to the longs. Whatever beacon led you to Cemjq, be it happenstance, DD or just plain ole fashioned luck, realize that we are in rarefied company. Megafauna was right in the sense that most people, do indeed, bail before real motherload.
However, the Cemjq board members are the exception! I don’t plan on disembarking until at least $5+...don’t get trigger happy at the $1 mark. The $1 threshold is just a robust springboard to $3 with the additional funds/tutes and other big players that will start thrashing the waters.
GLTA...stay the course!
Just checking in...just got back from the doctor. Diagnosis=Heat exhaustion (no joke!). Feeling very weak, but looking at my Cemjq P&L has perked me up somewhat:)
Anyway, just want to say kudos to all of us who are still holding (see where a lil patience gets ya!). Don't sweat the small retracements. This is going to a buck and beyond...just hang on.
GLTA
And HOD close it is:)
Ok same time same station next week. Everyone have a nice w/end.
LOl...edit:). But, yeah I concur, if it's a choice between Cemjq & Cemjq, I choose Cemjq hands down:)
Ok I need to step away from the PC:)
Cemjq is strong like bull today...HOD close perhaps?
Fundamentally Yes!
Although I do wish we had some of Pgpdq's sizable insider ownership going for Cemjq. However, Cemjq is a Fund/Tute baby.
The big boys always were (are!) more partial to Cemjq than Pgpdq, so I'll take that to the bank:)