holy crap, you played that perfectly. $10,000 in just a matter of minutes. that's what i call trading. there WILL be a deal announced next week. mark my words. just remember this post come monday morning. but i'm definately going to keep my eye on you. pumpin and dumpin works! just proved everyone wrong who said to not touch ABK.
I got in at $9 but I am holding till the bailout plan is announced next week regardless of what happens. THERE WILL BE 3 BILLION DOLLARS INVESTED IN ABK NEXT WEEK. you are going to regret getting out early. all of the top guys at ambac are going to be working on the plan this weekend and will have it finalized by monday. believe me or not, it will happen. but either way, you made $10K
you better hope its all a credit line, if there is share issuance your looking at a staggering dillution numbers
Not to take away from p&d's nice gain, but we were talking whether ABK is toxic from the perspective of holding on to it for more than few hours. The title does say "investment", no?
yea you are right. however, wouldnt the perspective change if and when there would be a bailout plan announced?
How many 100 tickers and examples will you like that I can give of how the game is played with buyouts, cash infusions, mergers, etc.....Come on are you gonna take it hook line and sinker. For ex. look at the Wilbur Ross run to $14 and Buffet news, Ackman etc. for the other runs alone in this stock. MBI too.......anything to give it action and a pulse. You know the saying buy the rumor and sell the news. Well sometime the news doesn't happen the way it should be played out and expected. Now everyone holding this stock over the weekend or longer term expect to make millions on Monday or Tuesday on a double bagger? Hell SIRI just came to mind...Look at all the bagholders in that stock waiting and waiting and waiting for that buyout. Now you have multiple scenarios to sweat out. You get a bailout, you get denied AAA status, etc....etc resulting in a push. Bottom line 11.75 or 9.75. Stocks that fall 80-90% fall for a reason and you get your bounces. Hell Enron and Worldcom had their bounces, look where they end up. Pink Sheets baby! Just get the F out Monday and don't ride the dragon too long. I took my bad beats in the past and learned my lesson.
good advice - personally I took a bad beating before as well - do not attempt to trade the news ... by the time you heard the news , it's already factored in the stock price and your gain will be minimal or your loss will be significant. (very bad combo, small gain vs big loss) example ... yahoo and it's offer from microsoft - it went from 18 to 28 in premarket, you probably would have bought it at 28 when it opened up , now its at 28 still (original offer for it was 31 per share I believe from Microsoft) .. what if no dea goes through on yahoo ? Say hello to $18 stock price once again. If it does go through then you get a gain for 3 dollar per share ...
It's TRUE what he said. The annoucement might be on Monday or Tuesday next week. All the big boys know it, this is why we see the big reversal of the market by the closing bell on Friday. What does it all mean? Next week, we'll see Mr. Market has a mini rally as the rescue plan for ABK being announced.