RE: RE:markvrd - Clear sailing ahead?"As long as the upcoming sales number doesn't take too hard a hit, I think we'll be OK.
If they live up to the on board pumpers expectations, the selling price will be climbing."
Hmmm.... there are many potential replies to this comment. I am going to resist all temptation to make any derisive comments about certain pumpers on this board .... because sometimes the devil comes and gets into my fingers as I start to type... so with fingers shaking with extreme strength of will, I'll move right along to your next point :-)
"In all my years, I've never seen a meltdown like this, not even during tech bubble days,
trading "concept" companies with meager sales and permanent losses."
I suspect you've been investing a while longer that I and that your perspective on this is therefore broader. However, I've certainly had to give my head a shake few times in these past couple of months in my attempts to find bottom. In the end, I did, but it has been a wild ride and quite an incredible meltdown. I guess you could point to companies like Teck, Quebecor world, and those sorts. Some of the big bank/insurance meltdowns in 2008/09 also come to mind. However, I think you're absolutely right. This has been a glaring buy for a while now but it has managed to deft all reason. I do think that I've come to understand what's happened here much better over time but it's still amazing the way this thing has unfolded.
I think that we've still got some choppy days ahead because it's made some quick gains and houses like Jitney are still swing trading it like crazy. We have 90 million less shorts than in Aug and, I think the ones left are much less sophisticated and organized. However, they can still play some games along the lines of typical speculative TSX stocks. I suspect we'll continue to run up ahead of financials on the excitement of our pumping crowd and then possibly have a bit of a reality check (aw sh1t ma... i missed that 2.89B writedown because I woz listenin' to some Amway-sounding guy on stockhouse).
It's also been a long time since we've heard much panic out of the US and Nov is when I think the attention was to shift back on how well Obama's plans are working out. Lot's of politics to play out there. The EU situation also owes us a few 2-4 hundred point drops on the TSX soon. It's been over a week and a half after all.
Despite some bumps on the road, overall, I think you're absolutely right. There is a lot of value here that is not nearly factored into the current stock price yet.
Now how do I put a trailing stop on my position :-).... just kidding... I will ride it out at this point.