BTW... why do you think this is the only possibility? If nobody knows what it's worth there probably wouldn't be any bids either. And since we're in a nasty bear market plenty of stocks have been excessively sold off. Why aren't these companies being bid on?
You made money with DRYS, no question. I'd like to go again with HIG, but just can't pull the trigger yet after reading MrStockers link. As of this morning, HIG's at 7.04. Down 12% I'd liked to have gotten in on FITB Wednesday. It was hovering around $1.50 and jumped 40% the next time I looked at the ticker. I'd love to know why this happened. FITB is a horrible bank, but they're not loaded up with subprimes either. Hmmm
Didnt you guys see the special on CNBC last night about CDOs and SPVs? The Hartford is loaded down with them. Poisonous debt that will never have a fraction of the value that it once had. As the balance sheet stands, The Hartford is a bankrupt insolvent company. If your expecting a double or triple from here, then you are wrong. Dead wrong. Im expecting for this to meander in a tight range for the next 24 hours or so and then accompanied by a fallout outside of the triangle its forming on the chart. It will then wallow in the low single digits until the annoucement that the company is bankrupt and probably followed by the CEO collecting a nice bonus right before... **No one is going to bid on this with it loaded down with so much worthless ill-liquid securities on the books***
please explain the3X move from dec1 to jan6th. http://finance.yahoo.com/echarts?s=...=on;ohlcvalues=0;logscale=on;source=undefined
It looks like the COO is bailing, forced to resign or FIRED: http://www.marketwatch.com/News/Sto...64-9A40-428F-A8F1-0CDA1D1CE4C4}&siteid=yhoof2
'In response to the downgrades, a Hartford spokeswoman said, "The Hartford is well-capitalized and is committed and able to meet the promises we've made to our policyholders." what about the shareholders?