RE: RE: RE: RE: RE: RE: RE: RE: Re. PSN in TFSA. Sorry Firesole, I am still not believing it...if you were trading it constantly from $4.00 down to oblivion, that movement was jerky up and down without any forewarning about the major news events that often led to 50% drops.
There would have been no trading skill in timing those movements, just pure luck...and the overall balance of probability given the steady movement from $4.00 down would have been mounting losses all the way, unless you happened to be astonishingly lucky. Given how much you were pumping this dog all the way down, I know you never entered a short position either.
Just admit it, you were wrong about this one all the way down to zero.
To reply to your comment regarding how you don't think they could have orchestrated this blatantly as a fraud...they didn't have to do it purposefully for it to be fraud. Everyone involved at Enron went to jail for a long time...and they included all of their accounting practices up front in their quarterly reports! The nature of their special purpose entities were clearly listed and were all completely legal and were discussed openly to anyone that asked (investor relations equivalent)!
In the same manner, I doubt Dawson ever saw this coming either....except, unlike Enron, their quarterly reports weren't honest about the nature of the contracts they established, their guidance was completely off even very late when they knew the game was over, they were declaring dividends without the ability to pay them, breaching debt covenants, insiders pulled a significant amount of money within a few months of the collapse etc. Regardless of whether they genuinely believed these contracts were originally receivable, it looks absolutely terrible. They are going to lose in court.