my brother was one of those "multitude of on-line traders" that apparently sold... and I say "good riddance" to the wimp! SORRY!!! My mistake for convincing an ultra-conservative investor that abhors all penny stocks - let alone pinky & BK stocks, to buy shares of Chemtura....
From $0.10 on I had been harping about Chemtura's unique fundamentals to friends & family... with all rolling their eyes and saying Chemtura was bankrupt and the shares would be canceled. Finally one of my brothers bought in at $0.72 without telling me (only about 25,000 shares, thank goodness)... then bailed at $1.09 on Friday and promptly sending me a email gloating about his quick profits along with the old stick-in-the eye saw about "pigs getting slaughtered"...
Well... all this told me that my brother didn't listen to anything I said or do a lick of DD on Chemtura... and purely bought in with the preconceived notion of playing a quick MOMO trade and had no basis on the merits of the stock.
I wonder how many other people like my brother were "talked into" buying Chemtura by us enthusiastic knowledgeable longs, who in reality were just in it for a quick piece of our hide as they never had any intention of holding long term for the expected emergence from bankruptcy and eventual return to the NYSE? I, for one, will be more careful in the future about whom I tell about Chemtura...
IF their eyes begin to roll when I mention a bankruptcy stock worth INVESTING some money long term in... I'll STOP before mentioning Chemtura's name. Don't need to attract any more wienie weak-hands into CEMJQ than there already may be... and hopefully most were culled on Friday!
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