Replies to post #11618 on The Rising Influence of Rising Affluence

[linhdtu]

Cliff is going to be bankrupt. not if only when.

pps is 2 because of human behavior. it is too late to sell, i have already lost 98%, 100 to 2 , so what is the point of selling.

but there is always the hope of recovery. how much capital can i redeploy by selling at 2 ?

[jbog]

Rocky,

I looks like the complete junk bond market is melting down. Proceed with caution.

Do you know what the value of the Senior debt?

Thanks

[Rocky3]

$CLF 01/18 bonds back "up" to ~28 today after hitting 22 yesterday - over 100% YTM (it had been around 23 since last week). That is a big move up. Not that 28 is a high number. Maybe the "forced selling" from high yield funds has disappeared. I never did buy more. Yesterday would have been the day. The stock has not moved much for the volatility in the bonds. Lots of volume both yesterday and today.