FGH post alert... Sarge; actually there is a lesson here in not owning FGH.
For some neophyte-newbie traders; they think they must "constantly" have a position in a stock - WRONG !
Sometimes, many times - the SMART move is to step aside and to not have any position in the stock; maybe even for weeks, or months at a time.
Now, I know that your obsessive-compulsive, gambling addiction and psychological personal "weakness" will not permit that - but, maybe someone else can learn from it.
Imo, Sarge/Deepwater et al - The "dumb money" is here taking all of the risk in FGH. Simply too many unanswered questions here - too many unknowns.
"Smart money" will enter FGH if and when; JL " show us the money" - not before. You tell me if I am alone in my thinking that this is THE last company that anyone should take at face value, or take direction from in the Press Releases, or IR commentary ? Did you guys forget their infamous stock crash off of their last "good news is coming" fiasco ?
Sarge - other than covering a short and playing the no-brainer "first" deadrat bounce; all the risk is here and all of the questions are still unanswered here - anyone who is not a gambling addict , or an FGH zombie - who has gone way, way off the deepend like you have; will simply wait untill there is a recovery in offshore rig construction sector - or if the Major Oils signal theywill spend money here and we finally actually see some new contracts of "significance" added to the backlog and most importantly - earnings reported - an end to chargeoffs and asset divestitures.
FGH "AINT" going to $20, let alone $10 anytime soon - without ample time to get aboard. This stock couldn't get off the mat on the Ocean Rig settlement, the China Contracts, the PR today etc. If FGH is as much of a bargain as you think it is, or as cheap as you say it is; why isnt anyone buying it here ?
Sarge; I think I took the "Easy and the Smart Money" allready - both on the way up , the way down and the intial deadrat bounce; now you can sit here - still $12 under your cost basis - minus your margin losses and pull our chain with these imaginary daytrades all day long. Bottomline - this is a company with major credibility problems in my personal opinion and major problems as reflected by the terrible Institutional ownership and its shareprice - period.
Once again:
Why bother... ?
By the way; FGH down for the day on nearly 400K and the technical downtrend on the chart continues... splain that Lucy ? |
