Concordia Healthcare Corp. T.CXR.R

Everyone looking for borrow now, looking to short more

[Health123]

I also bit down on some puts

[truestar2]

Not so sure about that - 6 seems as good a bet as 3, maybe better

[Health123]

Bonds are selling off like a rock today while the equity is getting squeezed.  This is classic.  Good luck all.

[blhawk]

dude, lets call it like it is, quit the bs, from the last big trade over 1 mil, there has been a whopping 3 trades, down .75, so how about talking how many trades over 1 mil that went on the last few days off the bottom, now were talking, you can to  try to bs some people some of the time, but you can't bs all the people all the time, CLOSING AT THE HIGHS OF THE DAY.....

[blhawk]

lol, your down even more now, wait till tommorrow, even more, lol

[Health123]

Actually, if you look on my profile I have been short since 58.  Been through the pump and dump a few times now.  lol 

[blhawk]

NO THANKS, anyone shorting at these prices after a new CEO comes in, to me makes no sense.

[Health123]

In my opinion, this has been triggered by the bond selloff and unwinding an equity hedge.  Time will tell.  The bond selloff today should be troublesome for equity holders.  Just my opinion, as I am short and added to my short position (and have in other ups)  This won't drag on for too much longer but unlike some here don't have a crystal ball! and for what its worth

[greatplay]

FYI In market there's a saying, when analyst continue downgrade and stock keeps going up, it means, it's time to buy. It's a classic example of it. Translation: stock can't go lower and reached bottom, so it keeps going up.... Now we have following walls to go up: 50 days (currently at $4.52 USD) and then $5 USD... I think we'll breach 50 days easy, $5 will be harder, last time

[blhawk]

So i take it you are short from lower levels, and puts from lower levels, correct?  I already explained the bond situation, if you call 3 trades trouble some, well than lets just say we have dif opinions. 

[Health123]

Volume is over 15MM on the new bond issue, down 14%   Yes, it should be troublesome for the unsecured bondholders and that means equity is worth zero.  If you can make $ trading the eq, then good for you but the banks are in control now and having a food fight.

[Health123]

And to clarify, volume isn't down 14% people who got the first issue less than a month ago are already down 14%.  What does that tell you about the unsecured bondholders?  The equity is already cooked, its just saps like you that haven't realized it yet.   Its a classic before prepak, be patient and let it play out.

[SteadyHandsStan]

Health, Thanks for the heads up on ENTA yesterday.   I know cxrx had a great day too but ENTA has some growth promise, not just a "well its not going bankrupt so that's good, eh?" bull pitch   And thanks rad for your pm offboard.  Appreciate all points of view.

[rad10]

H123 is correct - secured bonds are now yielding more than 10%.   Equity and unsecured are uninvestable = great for trading but the lack of clarity after the conference call makes this a speculative gamble. New leadership needs to give us some clarity and ideally start buying to restore confidence. Long secured notes (and common stock down more than 40K). 

[Health123]

rad, I see yield 12.3% on new issue.  I want your honest opinion, is this bond sell off putting the squeeze on the equity?   I know one thing for sure, its not the new CEO ...   (sorry guys - he ain't gonna make the debt disappear). 

[Health123]

No worries in responding.   Found my answers on Fintwit.   Have a good evening all.

[rad10]

apologies h123 - intrigued to know what you have found.  A lot of todays sell off may be related to this: https://www.ft.com/content/89749798-aa49-11e6-a0bb-97f42551dbf4 It may not be all specific to concordia.

[sandmark]

With last months bonds already red by 13%, this may lend a ear to todays trade?

[Juice004]

How about if the bond sell off was being manipulated? Ever cross your mind?

[Lukasdup0la]

This post has been removed in accordance with Community Policy

[Health123]

I've been publicly short on this bullboard since CXR has been in high 50's.  And you are hoping for ....   what a bump to $7..   $8   ?    Yah, I am an idiot.   Cheers.

[truestar2]

Health 123, with all Due Respect a Bump to 7-8 from a buy at 3 is better than a short from anywhere as it is over 100% return

[Health123]

Like I said, truestar, if you can trade it,  I congratulate you ...  Unfortunately most people have an average of much higher than 3 bucks here.  I mean no ill-will for anyone, including you ..  this isn't a zero-sum game (with the exception of the options market I guess) and the hell is not over for cxrx.

[blhawk]

dude, even if you were short since $50, don't mean you make money on this buddy, its all when you buy and sell, nothing more nothing less, for eg, could of short at $50, buy back at $51, or short at $4 and have to cover at $7, so not saying you ain't making money, just have to say ahead of time when your in and out to confirm something like that, all other is here say. AS FOR NO GUIDANCE

[Health123]

Oh my oh my.  I now know what the "Pig on LSD" comment meant on twitter.  [You just don't know which way this stock is going to run] before bankruptcy. This isn't my first rodeo and too bad the borrow yesterday was so tight.