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I'll be very satisfied with 2M shares at $1 per share...eventually several $$ per share. In the mean time, I'll work on building my position for free.
It's a blood bath
idk, common sense isn't so common. Some people see life through rose colored shades in the face of constant disappointment (caused by their own bad decisions). They perpetuate their own bad luck, continuously. The true gamblers...no clear thought is given to the shark infested waters in which they are about to "enjoy a dip". They think the no swimming sign is there to keep them from enjoying themselves. IMO, that's who is buying at this point in time.
Very true. I just don't see how anyone could see an upside at this point. If there were, they'd make a killing, but I just don't see it happening. Nothing but loss for miles and miles.
More recently...Radio Shack
Holy shat! .175! Over 52% down today alone!
That's why I haven't sold for the short-term gains yet. It would be devastating to not be in when the news breaks. I just freed up some money to double-down if I can buy at .001 again. Then, I'll flip half of it hits .0014 again...wash, rinse, repeat. This way, I'll always have my base position of 2M shares. Hopefully, I'll be able to build on it with my gains at no real cost to me.
Good question. Why indeed? Let's look at it from another perspective. Men have been buying the cow for millennia even though they were getting the milk and cheese for free. Human nature. It's what keeps the market going. Imagine if everyone knew when to quit. What a different market this would be.
I'm so glad I got out. I still have enough left to make decent gains in small bites here and there - rebuilding my position. I'll be digging into other companies this weekend to see what opportunities are there. I'll still pay attention here, but only for the experience. If the tide turns, I'll reconsider, but I don't see it happening for a long time. Some poor souls will be left holding the bag.
I never claim to know it all, but I do feel that I see the writing in the wall here. Obviously, if you can sell, someone thinks they're getting a deal. Maybe they know something I have overlooked, but on the flip, a fool and his money are soon parted. This is why NBG will be successful in wringing out the commons. They'll do it again after the R/S. As murky as these waters have become, it's much more than just risky. Any buyers are trying to catch a falling knife. Why not just sit it out until after the R/S and further dilution? You don't have to know it all to make wise choices. And even if you made a mistake because of the unknown variables, it's not to late to regain control and salvage what is left, then putting it to work elsewhere where there is a much greater chance of gains in the immediate future...just my two cents. GL
"Against the assault of laughter, nothing can stand."
Mark Twain
I try to laugh everyday. It's the best therapy available.
It's a regular Greek tragedy! Lol
This turkey is done, IMO.
I second that
Any stock holder getting screwed here beyond this point is just begging for it. All remaining investors should dump their holdings and force NBG to reconsider their shitty approach.
I was thinking about the same thing last night, except it's not an America bank. So, it probably won't fly.
It has to be getting pretty obvious to them by now that most investors aren't interested in helping them execute their crappy R/S and dilution recapitalization plan. They're going to kill their own stock through their arrogance. But hey, why not? It seems to be business as usual for the Greeks. There is a fellow competitor of mine in business around here whom everyone else has nicknamed Nick the Greedy Greek. I get it now.
Lmao...yeah, really
I agree with the market craving quality stocks right now. Everything else looks like trash. This is one reason FIT is dragging, IMO. Once they figure out which of the unproven stocks are worth their salt, they'll run them back up. I'll say this, FITs IR department sucks, and they have terrible timing.
More flatulence in the market. I don't see that going anywhere. THAT is an over-crowded market. Those companies are a dime a dozen these days. At least FIT is the leader in its group (and can coexist with Apple). Fitbit will remain top shelf. Nothing says my product is better like high prices. Maybe Square will impact FIT a little, but I don't see a butterfly effect coming off of this. HOLIDAY SALES WILL BE SMASHING. The market won't be able to deny success forever. FIT will catch up to the success of the company.
Caveat Emptor
No doubt in my mind that there are a ton of snake oil salesmen and Ponzi schemes out there. I'm a salesman myself, but a very honest one. I can spot a snake a mile away. I've read Peter Lynch and and Warren Buffet books. I don't read get quick rich books. Although, I thought I tried it out this year with NBG as a distressed stock. Apparently, it's VERY distressed and will continue to be. Live and learn. I still think FIT can hold its own. I have a healthcare index fund that I'm interested in. It just split recently and has had solid performance for several years now.
Well, I'm glad you're doing well, but lots of people simply buy into index funds and go with the flow. I'm trying to learn how to not do that. Shit happens. Some lessons are learned the hard way. Lots of index funds which follow the major markets are flat or negative on the year. There are "real" companies whose stocks are down. You can't predict investor sentiment ahead of time? But you CAN sometimes play it. You can buy solid companies for the long term, but they'll still take a hit from time to time. Sometimes, "real" companies die, too.
Can't win them all.
It's shaping up to a rough year, anyway. The bull market had to end sometime. Next year will be worse. It's ok. Ups and downs. I'll keep my FIT position, but I'm not adding to it as of yet. I'm going to sit back and watch the market through the winter and into the spring. I have a few trading positions, but as far as long term, I'm not willing to enter into anything new just yet.
What's good for the bank is terrible for the investor. Of course they're optimistic. I'd be optimistic, too, if I could just wring out other people's wallets to fix my blunders. So, they'll recapitalize. Then what? Will the stocks go up. I'm starting to seriously doubt it.
Not working
Looking at past reverse splits, it doesn't look good here - especially coupled with dilution and the Greeks lack of a willingness to accept austerity. I hope it works out for everyone still in this. I lost over 60%, but I'm ok with that. I learned a lot, and I have a back up plan to help earn it back pretty quickly. It's not bullet proof, but it performs every year. I'll still be watching this closely, but I'm not sure I'll be back in any time soon...looking way too volatile even compared to the past several months, IMO.
This is terrible. Check out the chart at the bottom - 10 years of NBG with all splits accounted for. It has yielded a -99+% return in that time with all dividends reinvested. There is money to be made here, but it seems it can only be done in spurts. Otherwise, you lose.
https://www.splithistory.com/?symbol=nbg
Lol, I can see that being a problem for them.
This seems to have a lot of room to fall in the near future. I cannot sit there and watch my money go to zero. I'll be watching everything closely, and I'll get back in once things seem to be on the up and up - which also depends on the Greeks themselves.
I don't know anything about all of that, but it sounds interesting - Level 3 and all, lol
I'm guessing it's better than Level 2 haha
It seems the safest bet is to get in after R/S and recapitalization/dilution - which could be another month or two.
Hadn't had a chance to read it yet. I don't suppose they give the date of the R/S, do they?
Looks like it's retesting the 52 week low.
Patience, Danielson
Good read:
National Bank Of Greece: A Post Stress-Test Look $NBG
http://www.seekingalpha.com/article/3688226
I agree with that. I'm betting on tomorrow's news driving it down, though. I could be wrong - wouldn't be the first time, but I'm willing to wait and see.
I need it to go a bit lower before I buy in...at least to .45, but I'd obviously like to see it drop to the $.30s for a brief period before bouncing. I doubt I'll get my wish. That's where I want to buy.
That's true. I failed to consider the investment firms, but will they want in yet?
I don't know...
It will be several dollars per share once the R/S happens. Getting it to double past that will be difficult. There will be more room to fall, if necessary. IMO
My household is prepared, and I'm always carrying. I'm trying to get as many people as possible to start carrying - been working on it for a while. I live in NOLA, and they're talking about the first wave of 10,000 coming through here and settling in Metairie, Baton Rouge, and 178 other U.S. cities.
Here's a link of the Governor of LA questioning the Feds about this...since they don't tell us anything voluntarily. I got a text from a local representative yesterday concerning this, He's checking into it, too. Keep an eye out.
http://m.wafb.com/wafb/db_345758/contentdetail.htm?contentguid=0Yw3QXPW
I'm in the birth canal right now. We're all coming through together. Millionaire brothers and sisters! Lol