SwingTrade Member Forum

[Painterguy1]

Bloomberg's Ommissions...

Oh by the way. The company had 2 SEC filings yesterday. The second one revealed they had amended their credit agreement with their lender to allow them to buy back $30 million in company stock. They also amended their buyback agreement from 1,000,000 shares to as many shares as possible for $30 million. Funny how Bloomberg never mentioned that; but they kept rehashing the old news about meeting with Senator Grassley's staff and made it sound like they hired independent council to defend themselves from the Senate when in reality they hired them to refute the Bloomberg articles.

Stock has a forward P/E of 6.5 if you believe the company. Up over a buck pre-market.

I've learned not to get to optomistic with this stock - but I feel a big revenge trade is on the horizon. If anyone decides to trade it keep your eye on the Bloomberg website. Everytime this stock starts back up Bloomberg is right there to whack it back down.