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Thread: Market watch for week 11/16 - 11/22 2009

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  1. #1
    billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896

    Market watch for week 11/16 - 11/22 2009

    Check last week's thread to catch up. I am sorry that we had to end the thread for last week. It was a much bigger week and a lot of fun and frustration...not to mention drama. Actually, there is tons of great information there to continue with and unanswered posts.

    Anyway, here is the new thread for the week.

    Anybody that is reading or lurking in this thread is welcome to post. We are a very peaceful investment team here and we all help each other in any way that we can.

    If this is your first time here...then welcome!

    From the crew that resides within these walls...have fun and help each other learn and hopefully succeed!

    Disclaimer for this thread: Always do your own due diligence (research). None of we people in here are investment advisers or brokers, or anything that resembles a professional when it comes to dealing with stocks. If you have any questions about any stock or anything said in here, check it out with your broker. We are just a bunch of people trying to make some money, just like anyone else. What you do is your sole responsibility and not mine or that of anyone else that posts in here. This is simply a discussion group and nothing more. Stocks are very risky and you could lose all of your money. Seek professional advice before doing anything whatsoever. We are amateurs in here and are wrong most of the time. Do not take any chances with our advice to each other or our self-seeking and self-fulfilling comments.
    Last edited by billhart22; 11-23-2009 at 12:17 AM.

  2. #2
    billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896

    All right, it is Sunday night....damn it!

    I was hoping for another Saturday night, but it just didn't work out. Oh well...It snowed like crazy this weekend here. I have a foot and a half out in the yard. It was wet snow though, so I couldn't use the snow thrower...I had to shovel and we have a big-ass drive way, so it took a while. That is all o.k. though....I have myself on a diet again (refining my current diet). I want to shoot for 155 lbs. like when I was in my twenties and working in the oil field. I couldn't gain a pound then. I would even go to Utah (Ogden) and visit the health food store to buy big expensive cans of powder to make myself gain weight and it just wouldn't work. Later, I hit my 40' started adding up. I was fishing up in Alaska and I was at 217....and I stayed there for quite a long time until 3 years ago, I became basically a vegetarian, but I do eat wild caught salmon and tuna and fish and some occasional Turkey. Then I dropped down to 160 lbs. I couldn't get passed that. Well, now I am trying an experiment...I will let you know the results as time goes on. I want to hit 155 or even 150 with no side effects..I will keep all of you fat guys posted...I will be the guinea pig. If it works, I will be the first to tell you!

    So anyway, BCLE ought to be just perfectly interesting tomorrow morning (Monday). I still can't really make good sense out of the PR that Jeff posted. It should be the law that Greg writes them. I know that most people are just drifting right now and not in the arena, but they are and out. The time will come when these pick by one...and it will all come together.

    Well, let's have a great week! Go team, go!

    Does anybody own a pressure cooker here, besides myself? If you do, I have some ass-kicking recipes for you!



  3. #3
    Dr. Dave is offline
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    Joined: Apr 2009 Location: SD Posts: 1,885
    Heading home from work - market opens in 3.5 hours.

    I see SP futures peaking at 1100... We had a close on a new high a few hours back for the sunday session.

    New highs on the NQ futures also.

    Gold hit new highs for Sunday, then finally hit 1300 for monday though pulling back here, but still well above the open, which is basically a high - it opened higher than any close so far. GLD should hit new all-time highs I bet, it stopped just short of 110.

    Wish you folks well on BCLE. I guess I could try to stay awake and get back in lower than where I sold, but likely isn't the best idea. If there is a strong close that's lower than where I got out, maybe I can jump in this afternoon.


  4. #4
    candleman is offline
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    Joined: Jul 2009 Location: Outer Banks of North Carolina Posts: 1,511
    Good Morning everyone!

    Last week was fairly profitable for me. SIRI made great gains. QASP was in a perfect swing trade pattern and so on.

    Here's my Hot Pick of the week.

    S, Sprint Nextel was just upgraded, here's a quote.... Sprint (NYSE:S) upgraded to Outperform, added to Focus List with $6 target, at Credit Suisse...
    Sprint has been beat down to just over 3 dollars lately. Standard and Poor has it listed as a strong buy with a six dollar target as does Credit Suisse. If you're looking for a nice buy and hold for a short while with a 25% profit potential, I think Sprint is a good one to look at. I use it as a daytrade at least once a week, but on this news it may be worth buying and holding for ahwile.

    Have a great Monday and let's PICK THOSE POCKETS!

  5. #5
    candleman is offline
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    Joined: Jul 2009 Location: Outer Banks of North Carolina Posts: 1,511


    Bio-Clean is up almost 50% right now.
    This is a prime example of why it's not always wise to sell a stock just because it's price has hit a bottom. This is a nice money making move for those of us who have held onto this company.

  6. #6
    candleman is offline
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    Joined: Jul 2009 Location: Outer Banks of North Carolina Posts: 1,511

    CHB Bankrupt

    Champion Enterprises CHB has filed for bankruptcy protection.

    The stock doesn't seem to be trading today.

    Champion Enterprises Files for Chapter 11 to Restructure Debt
    Sunday 11/15/2009 8:47 PM ET - Pr Newswire

    Related Companies
    Symbol Last %Chg
    CHB 0.20 0.00%

    As of 3:59 PM ET 11/13/09
    Champion Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction, today announced that it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is taking this action to improve its capital structure and further strengthen its competitive position. The Company's operations in the United Kingdom and Canada were not included in and will not be impacted by the filing.

    In conjunction with the filing, the Company has obtained a $40 million debtor-in-possession (DIP) credit facility from certain of its current lenders that will be available to fund post-petition operating expenses and to ensure that it continues to meet its obligations to employees, customers, and trade partners. A portion of these funds will be available for use outside the U.S. to ensure the continued adequacy of working capital for the Company's non-U.S. operations.

    The Company expects that this restructuring will be accomplished through a court-supervised sale of its operations. The Company chose to pursue a broader sale process in which its lenders and others may participate after opting not to accept a third party offer for the Company. To that end, the Company's investment banker has already received initial indications of interest from a number of parties expressing a desire to participate in this sale process over the coming weeks.

    "Our Company has operated for many years with a significant debt load. As we've had to downsize to keep up with the declining markets, this debt has become increasingly burdensome," said Champion Chairman, President and Chief Executive Officer William C. Griffiths. "Despite our best efforts to reposition the company for diversified growth, the continued challenging economic conditions both here and abroad have negatively impacted our capacity for debt.

    "As a result, management and the Board decided that the Chapter 11 process provides us with the most timely and orderly means to restructure our debt obligations and facilitate a sale and recapitalization of the Company so we can be best positioned to capitalize on future opportunities. Filing for Chapter 11 will allow us to maintain our going concern value for the benefit of our stakeholders while we address current market realities."

    Mr. Griffiths noted that in response to the challenging housing market and impaired capital markets, Champion has already successfully implemented a number of initiatives aimed at improving operating performance, including the reduction of overhead costs, closure or idling of 15 underperforming manufacturing facilities in the U.S. since mid-2006, staff reductions at operating plants to better match current demand levels, increased focus on multi-family, military and commercial sales opportunities and enhancement of single-family home product offerings.

    "Our balance sheet is the problem, not our operations. The next step in our reorganization is to restructure our balance sheet and position our company to capitalize on the anticipated recovery in the residential and commercial construction markets," said Mr. Griffiths.

    The Company emphasized that daily operations are expected to continue throughout the restructuring. The Company filed nearly 20 "first-day motions" covering the continuation of employees and business operations, as well as post-petition DIP financing, the continuation of supplier payments, customer warranty programs and retailer rebate programs, and other case administration matters. The Company anticipates that these first-day motions will be heard this week. Pursuant to the relief requested in those motions, homes will be sold, manufactured and delivered as normal and employees will be paid and continue to receive the same benefits as before the filing.

    "Despite the current challenges in our core markets, we still believe there are considerable opportunities in the factory-built construction industry in the future," said Mr. Griffiths. "Addressing our liabilities through the Company's bankruptcy filing is the last step in a comprehensive restructuring we began some time ago. We fully expect to proceed through this restructuring swiftly and with the strong support of our lenders. Throughout the process we will continue designing and manufacturing high quality products for our retailers, builders and developers."

    The Company filed its voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware in Wilmington

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