Msg. 42494 of 45651 (This msg. is a reply to
42438 by
capt_nemo)
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This article out this morning is prolly what keeps me from getting back in the markets. Just one reason LOL, There are many more.
HAAAAAAAAAAAAAAAAAAAAAAA WHAT I SAID............
Ramp it up for a couple days so insiders can dump before this stellar news,Tooooo funny,,NOT,,,,,,,,
Patriot Said to Get Funding Ahead of Possible Bankruptcy
By Beth Jinks, Krista Giovacco and Jeffrey McCracken - Jul 9, 2012 2:04 PM PT
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Patriot Coal Corp. (PCX), the U.S. fuel producer that has lost more than $7 billion in value, has lined up financing ahead of a bankruptcy filing that may come as soon as today, said two people with knowledge of the matter.
The so-called debtor-in-possession financing is being provided by Citigroup Inc., Barclays Plc and Bank of America Corp., said the people, who asked not to be identified as the process is private.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
This article out this morning is prolly what keeps me from getting back in the markets. Just one reason LOL, There are many more.
It is saying PCX is already overbought/ahead of its self and look for a down turn???? With a chart like this and the short positions?? Overbought???
Coal
Patriot Coal (PCX) continued moving higher on Tuesday as shares rallied $0.46 (33.33%) to close at $1.84/share. Volume was extremely strong here, coming in at 17.4 million shares and this happened on a half day for trading. This stock has risen roughly 80% in the past two weeks and this is what happens with leveraged plays when fears of liquidity dissipate. We missed this one twice when trying to put in a trade, but now it has gotten ahead of itself as we suspect some of the bears were chased out and forced to settle their positions. A pullback is in order at some point, and we feel that investors would do best to wait for that one and then move in. The $1.50/share level would probably be a good place to enter and for those a bit more patient the $1.40 level would appear best.
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