Sent to TIMalert subscribers early AM today, two trades, two 7%ish profits, gotta love this market that offers up sooo many easy profit opportunities for those who know what to look for!
Futures were pointing to another big down day today, the Bank of England just slahed rates by 1.5%, triple expectations, it’s good governments are willing to help, bad how bad the situation really is that requires such aggressive cutting….scary times, good to cut losses/gains quick and focus on staying in the game, as most will not be around in a few months/years.
MECA is the one I was short overnight, you can read why in this post, up $500 on it so far…sadly, due to its illiquidity, it didn’t fall as much as I wanted, it being only the first down day in the pattern that I love so dearly…good news is they reported horrific earnings late late last night (read the whole mess HERE, seriously sooooo many footnotes and losses, (trying brush it under the rug no doubt)…analyst epxectations of a loss of24 cents/share, actual loss of $8.26/share for the quarter for a $3 stock, too funny…I hate when companies say they’re evaluating strategic alternatives, their stock usually gets a bump higher, but considering its already up 150% in the last few days and the fact that the firm these idiots hired is Miller Buckfire—specializing in restructurings/bankruptcies, I think there’s a good shot a big drop too…especially considering this statement that’s also included in the PR, not even in the disclaimer, in the main earnings report:
Although the weak economy will continue to present challenges in the near-term, we are very conscious of the fact that we must significantly improve our operating results…
Although we continue to take steps to implement our debt elimination plan, real estate and credit markets have continued to demonstrate weakness to date in 2008 and we will not be able to complete asset sales as quickly as originally planned nor do we expect to achieve proceeds of disposition as high as originally contemplated. Given our upcoming debt maturities and our operational funding requirements, we will again need to seek extensions and/or additional funds in the short-term from one or more possible sources to meet our obligations as they come due. The availability of such extensions and/or additional funds from existing lenders, including our controlling shareholder, or from other sources is not assured and, if available, the terms thereof are not determinable at this time. We expect that we will enter into negotiations with such existing lenders, including our controlling shareholder, with a view to extending, restructuring or refinancing such facilities. There is no assurance that negotiations with our existing lenders will result in a favorable outcome for us.
Yes, it’s a very very very bad company, but I will take quick gains/losses as always, understand that.
BEE dropped perfectly (25%) in 1 day once it cracked support at $5 in the morning (that’s what I thought MECA would do! My short selling pattern reigns supreme and that’s why my new ShortStocking instructional DVD, focusing on these EXACT patterns, is gonna be a huge hit. Shoulda woulda coulda been in this play, I’m a very very bad short seller.
LNG continued it tankage, down another 20%, now 40% off its $5 highs…gotta love this pattern, just wish there were shares available, congrats to those of you who played the options on it.
CVI dropped 64 cents/share to $5, but it’s still above $4.80 support…if the markets really tank today, we can kiss that support goodbye, be careful of fakeouts though, as we’ve all learned on this one
CROX was another one that dropped 30% in a day, I coulda woulda shoulda been short that one too, but I’m human and I make mistakes…good news is several TIMalert subscribers banked because they saw the pattern coming a mile away! I close my DVDs by saying you can do better than me, well, this is your chance.
RZ had gone form $2 to $5.50ish, first down day, didn’t really crack until the last hour, stubborn little guy…let’s see if the pattern works well here too
GGP dropped 50%, yes, 50% in 1 day, God I can’t believe I missed all these, you bastards better learn this stuff so you can take advantage of these situations!
HDSN is actually bottoming, a few people bought…screw that, in this market, I ain’t buying anything but gifts for my girlfriend!
Posted in Potential Plays