Loser stocks are getting their time in the sun today, moving higher as everything else trades flat. Top sectors include: silver, coal, gold, aluminum, solar and minerals.
The very worst stocks are today’s flavour, a temporary phenomenon no doubt.
JRCC, ANR, PBR, VGZ, MUX, EXM, PAY, AMBA, PVG etc.
It’s like someone took the most down list and bought them all, as a sick joke of sorts and it panned out. Always keep your perversions discreet and never act upon base instincts.
None of these stocks are buys. Both CLF and AKS have horrific balance sheets. Did anything change from yesterday?
Yes and no.
The equity valuation is up sharply, but the underlying business is still impaired.
I am a seller, twice over, on these lifts. I will add to my AG short if it goes up another point. These garbage stock runs can last awhile, some even more than a week. But they fade, like all of the other garbage stock runs in the past.
Speaking of which, JCP can’t catch a bid. The lower the stock goes, the greater the pressure is for management to raise capital. Once the equity is eroded, there will be a panic to raise cash. They need to file a secondary offering right away. Get it over with, so that the company can exist for more than a year.
Any financing will be extremely dilutive to current shareholders. However, it will most likely save the company from bankruptcy, which is the current path–no doubt.
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agreed fly –
popular local restaurant entered ch. 11 with positive cashflow, according to the paper, in order to restructure debt – all operations will continue unabated –
ZIRP can come in many forms – one of those is by devastating equity –
JCP discontinued their sales of my favorite Sean Jean and Timberland clothing.
I will no longer purchase merchandise from that corporation, unless they return my favorite urban clothing so I can go out clubbing like the gambino thug that my mother raised me to be
Zillow fancied a rally today.
Fly, what happened to your old friend DDD today? Took a big dip.
Ugly flying high on the miners today. Buy low sell high la Fly !
I like switch to aphorisms M. LeFly.
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