Just my thoughts...I agree, and I think you just have to play the bounces. A "Q" stock is always going to be volatile as long as it has volume. If it doesn't have volume, you stand a chance of getting hung in it and not being able to get out, thus ending up getting smashed.
I've seen "Q"s that the filings clearly showed, as well as PRs, IF you read them closely enough, that the common shares WILL get whacked upon emergence from the BK. People just don't read them close enough, and sometimes when a stock is about to emerge from a BK it surges like crazy because of people thinking it's about to make a killing. I've flipped them the day before they came out of BK, knowing that the next day the shares would be whacked. Some folks just don't bother to read the filings on these plays, and some don't even closely read the PR's. SOMEONE has to profit, and some will lose all they put in it.
This stock is a long, long way from whacking shares or emerging from bankruptcy. It will take years, most likely. No matter what happens, the common shares will most likely get whacked when that occurs. My estimate is that about .01% of the BK stocks leave the common shareholders with any shares after it's all said and done. The preferred shares normally survive.
This stock is, and will remain, volatile for quite some time with significant volume to allow you to flip it, and it WILL be flipped daily. IF you play it right, there's a ton of money to be made here over the next month or so. Don't let it get you down, but if you do, get out and look for another entry point. It will provide them multiple times daily, for quite some time. As long as that volume stays up, this is a flipper's haven.
I expect the stock will stay somewhere in the .05 to .10 range for a while. Could dip under .05, but don't think it'll stay there long, but we'll have to see what the market dictates.
I expect Friday market could take it under .05. I think it'll bust back through that next week though, if it doesn't hold .05 tomorrow.
JMO FWIW, and the volatility of this stock, and what may come out is unknown right now. That's why it will remain just a stock to flip for me, and never be nothing more for me.
Best of luck to all! For those that were in this before...sorry you got slammed. Nobody likes to see that, and I certainly don't. Traders just play the market as they see it come.
AGAIN ALL FWIW...just my thoughts.
JJ
Posted by: bman Date: Thursday, September 18, 2008 9:00:09 PM
In reply to: JJSeabrook who wrote msg# 1052 Post # of 1069
I was involved in two Ch 11 stocks. CPTC went from 1.25, or so, down to the .30s when Ch. 11 was announced. It traded at over $3 at one point during the proceedings, but is only at .85, now, after having emerged. They have been over $2 since emergence. BESV emerged back in Feb. of this year. They traded as low as .07 or .08 during proceedings but has traded as high as .40 since emerging. It is now at .30. These are the reasons I speculated on LEH. I felt then, and now, that we will see some serious percentage gains from this level. JMO.
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