Jeffrey,
You wrote: "Looking at the chart it looks like the downgrade was timed with the conversion figure. Lower price more shares. It is also key in knowing what LMT gave initially for it's shares. If it was $6 dollars in value a conversion & selling into the open market will create an even greater opportunity once absorbed. So this is still a two edged swored."
Per Rocket Scientist's read of the LMT 10-K, LMT's cost basis is 8 1/2 on the LOR Series A Convertible Preferred.
Message 13144553
I like 10 as a back up the truck entry point. Today I nibbled again, in case this is the bottom. I'm glad I did, because a couple of hours before the close today LOR released the DISH news.
biz.yahoo.com
Also note that there are restrictions and lock-ups WRT how fast LMT can sell the stake. Obviously, it is not in LMT's interest to sell it all at once on the open market, anyway. Now these news items dug up were several days old. It was what, a week, maybe two at the most, that passed between your discovery of the NEOP asset sale and its announcement as part of the pump? Could today's DISH announcement mark the beginning of the blitz for LOR? Here, too, could the short already be in via offshore accounts controlled by LMT?
Anyhow, adding it to the list.
Have a good weekend. It's been a great week, thanks mostly to SFE, but with a little help from ELON, STAA, BCHE, BMET, & even little PLC.
Cheers, Tuck |
