Today I watched TMA trade mostly evenly across the board. The early morning it fell, but stabilized around $1.52 throughout the day. Is anyone else waiting for this sucker to go bankrupt or at least trade a lot lower? If you do not know, TMA is looking for financing because they are broke. They need roughly a billion dollars to pay the banks so they do not cash in their collateral. I believe their deadline is tomorrow to finalize this financing. Either way, the current shareholders are screwed. The deal is only lucrative to the new finance companies. This deal will dilute the current shareholders by 40%.
In other news, I have been reading 4 Hour Work Week by Tim Ferris.
This book is awesome and offers a new way to look at life. It has inspired me to look outside the box and rely on my ideas and strengths rather than the voices of others. Time will only tell if he was right, but I can already tell that my new motivation has allowed me to get more done in current life and for the future.
Showing posts with label investing. Show all posts
Showing posts with label investing. Show all posts
Wednesday, March 26, 2008
Monday, February 11, 2008
Market Rebound?
Today saw a lot more green upticks in the market than in the past few days. From First Solar (FSLR) rising almost 10% to Diana Shipping Inc. (DSX) running up nealry 7%, the moves were able to make the longs smile. Not to say shorting a stock cannot still make you money though. People quickly forget that MBIA Inc. (MBI) just sold a 1 BILLION offering at a set price of $12.15 per share. Before the trading began Monday, the stock was holding at a sunny $14.60, but that did not last. Increased fear that its days of a AAA credit rating were numbered, helped trade the stock lower, closing today at $13.58. Furthermore, AIG came out with two-month losses at $5 billion which sent most companies in the financial sector lower.
Looking forward, there are many ways to play this market. In a CBS Marketwatch fantasy investing game, I am shorting MBI and SHLD. I am long FSLR, DSX, GOOG, AAPL, and POT. The bulk shipping, agriculture, and Solar markets have fallen to a P/E worth looking at. With FSLR reporting earnings on Wednesday, I believe we are in for a nice suprise and a continued run-up in the stockmarket. I will check back in soon. Good evening.
Eric Arrieta
President/CEO
WWW.RUGBY916.COM
Looking forward, there are many ways to play this market. In a CBS Marketwatch fantasy investing game, I am shorting MBI and SHLD. I am long FSLR, DSX, GOOG, AAPL, and POT. The bulk shipping, agriculture, and Solar markets have fallen to a P/E worth looking at. With FSLR reporting earnings on Wednesday, I believe we are in for a nice suprise and a continued run-up in the stockmarket. I will check back in soon. Good evening.
Eric Arrieta
President/CEO
WWW.RUGBY916.COM
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