I felt fortunate to "only" lose 21% of a small position. I was walking around my house, doing some chores after trading. The late day confident expressions of imminent BK on the MB's gnawed at me. They were not the bashing type anymore, they were expressed as advisories or at least markers to return to brag about later. Decided to go back and read the CEO's statement in the latest release again. Tried to get in the zone, reading it over and over. Soon enough a cognition came that he was talking BK, notwithstanding his limited, artful statement. My fingers were already keying in a sell order before I'd given full consent, lol. Fourteen minutes later the WSJ article broke at 5:25PM. I had gotten out from a .125 avg at .10 flat. Not long after it was in the .03's front yard.
BK is not for certain, however- could be posturing and eventual restructuring out of court. I'm just glad I'm out as the odds were no longer any good, if they were ever.
Starting to get stirrings to return to commodities trading- less congested and more predictable. Stocks have been an enjoyable, long interlude from my profession.
MG
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