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Nice close above $2 today.
Not mauxf news, but positive development for Nigeria if they are going out to bond markets.
http://www.bloomberg.com/news/2013-02-05/nigeria-vies-for-investors-as-yields-fall-south-african-credit.html
The short sellers have definitely baited me into expanding my option positions. A bit underwater, but all just play money. Overall throughout the events of the last month my investment thesis hasn't changed much. It was nice to see Global Hunters rebuttal. Other than that the last month has been noise. Good for traders.
Just doubled my march 22.5 calls. Short term trade.
A sample of Andrew Left's and Citron's success.
http://seekingalpha.com/article/137166-debunking-citron-s-hit-job-on-world-acceptance-corp
See part three where they talk about Left's character. Funny a while back I was invested in wrld.
Any idea on how much was short as a percent of float?
Don't understand their madness. It's like going into a jailhouse getting caught with your pants down and passing out lube to your cellblock.
Oh what a beautiful morning, oh what a beautiful day.....
We're taking down two elephants today. all time price high and all time volume high.
Thought about what you said on a post on the CGS board about the correlation traders. Agree, but also what about relative value/pairs traders. Long CCME/Short FMCN should be a nice play. Same country, very similar industry and very different valuations. From simple metrics like P/E, P/S, EV CCME is the better value. I'm not much into arb because I don't have the time.
As for the bonus, won't be too much this year. Company is sucking wind. Just very close to landing something that will pay me out and give me a very nice raise. I wish I could work my portfolio more actively. Of course when CCME takes off above $50, than I will be much more comfortable.
$30 is potential launching point. Just from a simple market cap framework, $30 would put CCME around $1bb in market cap. There are a lot of large cap fund managers that screen out stocks below $1bb dollars market cap. So at around $30 we'll be getting a whole new set of eyeballs looking at this stock. That could get us to $50 fairly quickly, as well. I've held this position for over a year now and have not taken once cent off the table. I've got a target to take off some risk capital, but will be riding this out for the long haul.
Great day to be snowed in in NYC. Watching the action all day. Of course probably would be doing the same at work anyway, as I'm about one week away from announcing my resignation.
Yes, well aware. The name hedge fund is a misnomer.
Etrade owned by citadel. A large hedge fund and options market maker. Insert conspiracy theory here.
Within sniffing distance of 52 week high.
Put in an extra order for some of the longs who got a little over excited.
Nice pre market. 20.48.
Not sure I get your logic. Can you expand your thoughts?
Totally agree. Loving the low volume too. Since I'm not trading the stock actively, I don't need the liquidity. Just waiting for good valuation. I feel like William Wallace in Braveheart saying "Hold!!! Hold!!! Hold!!!!!"
Letting it ride. Just took all my Jan 18 call profits and rolled it into Mar 22.5.
Want over enthusiasm? Look at where NFLX is trading. Good company, expensive stock.
No way am I selling calls at this level. I may do some put writing.
Just took delivery on 20% of my jan 18 calls. Had to sell a little bit of another position, but that is ok. Just increased my position by 9.4 % to about 33% of total. First add in a long time. These will be trading shares.
Quiet afternoon. Everyone must have started the three day weekend early.
I've been holding tight for a while. It would be nice to see liquidity dry up. With decreased volume and no shares to borrow the shorts will get fried much quicker. The rush to exit would be the beginning of MOASS.
I agree with you on your sell strategy, but I disagree with your premise that selling calls does not influence share price. If you sell in the money calls, should a market maker be on the other side, he would be delta hedging his bought call options with short shares if he doesn't have an immediate counterpart to hedge the position. If they are in the money calls than he is shorting shares very close to one to one.
So reading the tea leaves, volume is approaching the high from the day it reached the all time high. Does that mean anything from a technical standpoint?
I guess if looked in that manner you're right. I actually had to raise cash to convert. I converted my full warrant position and made it a large concentration in my portfolio. About a two bagger for me right now.
On the warrant conversion you have to count the capital to buy shares at conversion price. Not a ten bagger yet.. maybe so for some of those options trades.
Dare i say 10 bagger territory for early investors.
The logic for 30's was based on a simple relative value analysis of p/s. I'm in the camp that ccme deserves a higher metric.
Wish i knew. I'm a fundamental guy. This is a long term investment for me. From a relative value standpoint compared to FMCN this can go into the 30's.
:) I'm at work and I haven't been able to concentrate all day. :)
The fact that this was a bought deal is a good sign that creditors liked the deal. Good sign for shareholders.
At first i wasn't excited about SWITOW, given I'm not a big fan of retail. I came around as now I see it as a potential moat to keep out other competitors. Gives some advertisers a direct channel to their clients showing CCME to justify ad rate increases.
Nice pre market move by fmcn. +7%. Maybe we'll get a similar one here.
Not OT at all. It's creates relative value. Rising tide raises all ships, but I definitely would prefer our own wave to ride. Looking forward to a GOOD morning.
Any forecasts for tomorrow?
I'm hoping it will be unseasonably hot for the shorts tomorrow.
As for the institutional coverage, what are these guys waiting for? They would look much smarter putting out the reporte when share price is 15 than when it is above 20. I guess I don't know much since I'm just a clock watcher..
FYI.. this message is tongue in cheek.
We've got the volume. Just waiting for the price to catch up. Got my popcorn ready.
Agreed. I generally stay with a concentrated portfolio due to time constraints and belief in not deworsifying my portfolio. I'm about 28% into ccme not including option plays. This is my only China play that I've held for the long term, invested since the spac days and drex's mention of the stock. There is enough risk/ return in a play like ccme for me.