Bought one BK and buying another schlub….
I like some of the bankruptcy’s that are out there. Some of the companies that were in trouble b4 the drop that went chapter11 I am watching and buying. I just bought $1000 of abwtq.pk I bought it at yesterday .42 and from what I can tell it might be one of those stox to buy and hold. From what I can tell, they are going to honor the shareholders equity. Financials suck less than they did…..we’ll see how it plays out.
http://finance.yahoo.com/q?s=ABWTQ.PK Abitibibowater Inc
I’m buying an obvious pump n dumper. It is clrh.ob…. Clear-Lite Holdings, Inc. It is some light bulb company that people have pumped the shit out of and then dumped hard. http://finance.yahoo.com/q?s=CLRH.OB Why am I buying it? This schlub has been sold soooo hard there has to be room for it to retrace slowly. Watching for the bottom of the sell-off…..Thinking of buying in the .30’s… Don’t care about the company, just the movement. Update: Still waiting to buy…its in the mid .20’s range….falllllllllllllling, falling!!! Maaybe Monday…..who knows…
Update: Still in abwtq.pk and bought clrh.ob at .26 and at .29. In a perfect world, it should hit .81…I’ll just wait to see…so far so good its sitting @.38.
Update: Jumped out of abwtq at .425 saw it descending. Waiting for the correction to finish, then will jump back in @$2,000. Still in clrh even though its been a down day again 4 it.
Update: Still did not get back into abwtq. Bought twice on ckrh….grrrr, losing money, waiting too see a reversal…can’t know if it will even happen. I guess we’ll see. Being stubborn on this one, should have sold already but did not.
Critical Update: Damn, I’m glad I waited again on abwtq…..holy shit what a tanking! They voted to kill the shareholders equity!!!! Buttheads! Currently holding ckrh, losing big-time so far….pfffffft.
Trade like you need food……
W$