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Thread: Daily Market Watch - Week of 3/23/09

  1. #1
    ShotsII is offline
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    Daily Market Watch - Week of 3/23/09

    Going to take some advice from Bill and repost a thread here...

    What is your take on Conseco (CNO)? I value the opinion of the posters on SB a great deal and appreciate all replys, both for and against.

    Thank you in advance.

    Shotsii

  2. #2
    billhart22 is offline
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    Conseco

    I didn't see the new market watch here, I posted in last weeks...so here is a re-post of what I thought.

    Shots,

    It looks like it is coming down off of a big spike and may not have settled yet. It would be a bummer to buy it now and have the price keep falling. I would keep my eye on it for a while. It is pretty volatile right now also and finding a good entry point might be difficult until you are sure that it bottoms out. It took a nasty dip at the end of the day Friday and pulled back up to .41 AH.

    It looks a lot like EPEX and is the same price. EPEX is a lot smoother ride...you might want to check that out.

    I would be waiting to see what CNO is really going to do. It trades with a pretty fair volume, which is a good thing. It looks like the volume over a year is adequate. Traders aren't going to run away and leave you there by yourself. (I have had that happen to me before). It is a watcher in my eyes until there is a declarative uptrend....take a look at a five day chart. Then look at a year and then a month and then a day and compare.

    Maybe somebody else has something to offer about CNO.

    Make sure they are not in debt horribly or going BK...check their financials out.

    I have been entertaining EPEX but am going to watch it for a few days to see what is really going on with it.

    Hope that helps...if you have any other questions, please ask.

    Have a great trading day tomorrow,

    Bill
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    Last edited by billhart22; 03-22-2009 at 11:35 PM.

  3. #3
    dread is offline
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    Hey Shots,


    Wow a 5 dollar stock back in January!!!

    Inst. Own: 95%

    Beta: 2.35

    Shares: 184.75M

    Vol: 4.66M Avg Vol: 3.84M

    If those numbers are accurate, seems like it has the potential for a good day trade. I would be wary of holding it over night or a weekend for that matter, because of the default risk. Also you have the common shareholder lawsuit going on too.

    This makes me uneasy about their liquidity.

    CARMEL, Ind., March 17 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) today announced that it is has not completed its financial statements for the year ended December 31, 2008. Conseco said that it expects to complete its financial statements and to file its Form 10-K on or before March 31, 2009. As announced on March 2, 2009, the Company has been informed by its independent registered public accounting firm that without additional information and analysis to satisfy the auditors' concerns regarding the Company's liquidity and debt covenant margins (primarily those that could be impacted by a significant amount of additional realized losses in the Company's investment portfolio), their audit opinion will include an explanatory paragraph regarding the Company's ability to continue as a going concern. The Company is continuing to provide information and analysis to address those concerns.
    http://news.prnewswire.com/DisplayRe...4989778&EDATE=

    They may be looking to reorganize before or on March 31.

    If you do play this one Shots, I would not be holding any shares when they do announce their 10-k. To risky to even hold overnight.

    I would wait to see if it breaks through 52Wk Low: 0.26 .

    Then watch the volume carefully, I for one am not touching any more stocks that carry dept. I have had my fill with SIRI.

    Good luck and be careful out there!!!

  4. #4
    just sirius is online now
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    Bill

    Dammit....I thought I was buying you a case of Members Mark. You know...the Walmart/Sam's brand. How many damn bottles are in a case of Makers Mark? 100 or something like that? lol That shit is like gold. I thought you were only into the DBI!!!! Makers Mark...check it out...it is a strong play in the gold stocks!!!!

    Thanks for the heads up on the DBI and where these stocks are heading. DRYS 52 week high of 119 means it can really rocket when the timing is right. Don't expect a high of 119, but 25-30 is not out of the question in the near future 3-6 months if China's economy picks up! DSX keeps popping up on the radar for a couple of other posters every now and then. Maybe worth a look..Priced about 12-13 now!

    Have a good evening and happy shopping tomorrow!

    Jeff

  5. #5
    billhart22 is offline
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    Quote Originally Posted by just sirius View Post
    Bill

    Dammit....I thought I was buying you a case of Members Mark. You know...the Walmart/Sam's brand. How many damn bottles are in a case of Makers Mark? 100 or something like that? lol That shit is like gold. I thought you were only into the DBI!!!! Makers Mark...check it out...it is a strong play in the gold stocks!!!!

    Thanks for the heads up on the DBI and where these stocks are heading. DRYS 52 week high of 119 means it can really rocket when the timing is right. Don't expect a high of 119, but 25-30 is not out of the question in the near future 3-6 months if China's economy picks up! DSX keeps popping up on the radar for a couple of other posters every now and then. Maybe worth a look..Priced about 12-13 now!

    Have a good evening and happy shopping tomorrow!

    Jeff
    Jeff -

    You are so funny!

    Do you think that I drink cheap booze? No way....I don't want any Wallmaker's from Walgreen or HomeMaker's from Home Depot either!

    12 bottles in a case....Ultra fine Kentucky Straight Bourbon Whiskey....

    Ya, it is really expensive.....but worth every cent! You know that you will be getting a bargain for quality.

    I think it is worth more than gold to be quite honest.....

    I will have to check out DSX.....a little spendy for leverage purposes....but OCNF, SBLK, FREE are all not unreasonable.

    I just found a great resource.http://wsnn.com it is a little behind all of the time, apparently, but it has excel spreadsheets of different sectors....really a great reference site. Let me know what you think. I think it is really interesting....at least it puts you in the right direction.

    You are right, Jeff, Dry bulk shipping stocks are a steal right now...look at the history of them. I know that you are a fan of them anyway.

    Arghhh mate! Yo ho ho and the parrot is next!

    Great hearing from you, as always, I will talk to you through the week.

    Bill

  6. #6
    billhart22 is offline
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    Hey Dread

    Great analysis of of CNO......wise words....I appreciate your insight.

    Damn, it is Sunday night...11:40 in the evening and I am still up scanning stocks, do I have a wire loose in my brain?

    I have a big day tomorrow....I have to do a basement finish quote and get a haircut. The wife is all over my ass...and she told me to hit the scales again...she is perceiving a weight gain on me.

    Hell, all I do is eat vegetables, being a vegetarian, but those carrots must be doing it...too much sugar. I know it is not the Maker's. lol

    Back to a cup of food a meal....eating like a squirrel chomping nuts and dates. Man, sometimes this sucks, but I am healthier for it. My friends, 99% of them, are fat and fully grayed. They have heart problems and are old. They take pills and all of that medicade shit.

    I don't even have a doctor....go figure...

    On the other hand, they are retired and I still work (which I love). When I was at my last class reunion (and the last one that I will go to), which was in a Casino, I left and went and shot craps...I couldn't stomach the cliques and their old man ways. They like Geritol....I like Ethanol.

    I had two drinks and basically left. They still dress like they did in high school. Skinny little ties, white shirts, and fcuked up shoes.

    This was in Washington State. I came from California with Madras shirts, Pendletons, Levis and guaraches with tire-tread bottoms on them.

    The laughed at me and thought I was from outer-space.

    They wore skinny ties, white shirts and Italian boots that you could kill cockroaches with in corners of the building. They were greasers with Grease-type hairdos and loved to fight in the parking lot.

    When it was football night, the guys would wait outside of the opposing team's locker room. When they came out the hoods would kick their asses. I never saw anything like that in my life before.

    In California, we used to drink wine and eat cheese and bread at lunch. In Washington....the first day that I was there they started throwing Navy surplus bowls of chili at each other. What a bunch of idiots.

    How did I get off on this?

    The stomach churns....

    Nite

    Bill

  7. #7
    dread is offline
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    Same here, staring at the futures trying to figure out this weeks train wreck.

    Man I hated high school!!! Or any school for that matter!!! If I want to learn something I will do it on my own.


    Have a good night yourself Bill, give a hey!! to Tony and Ray!!! For me!!

    Atkins diet baby!! Ribs, steak, you name it!!!!

    Have a good week on google guys!!! If I see anything, I will post it here for everyone!!

    Later,

  8. #8
    billhart22 is offline
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    Quote Originally Posted by dread View Post
    Same here, staring at the futures trying to figure out this weeks train wreck.

    Man I hated high school!!! Or any school for that matter!!! If I want to learn something I will do it on my own.


    Have a good night yourself Bill, give a hey!! to Tony and Ray!!! For me!!

    Atkins diet baby!! Ribs, steak, you name it!!!!

    Have a good week on google guys!!! If I see anything, I will post it here for everyone!!

    Later,
    Love ya, have a great one!

  9. #9
    ShotsII is offline
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    And so...
    Did anyone buy any Conseco (CNO)? I did not.
    Its up 60% today..... :-(

  10. #10
    dread is offline
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    Quote Originally Posted by ShotsII View Post
    And so...
    Did anyone buy any Conseco (CNO)? I did not.
    Its up 60% today..... :-(
    Yeah, I am sorry about that. I won't touch it, I just have not spent any time watching/researching it.

    Win some, lose some, If you felt good about it, and wanted to buy it, then don't listen to us. But you had a winner there, not sure if shorts were covering? Or people are speculating on q-4?

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