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  • Websman
    Senior Member
    • Apr 2004
    • 5545

    So, the lesson of the week is...and a new rule.

    DON'T BUY STOCK IN CHAPTER 11!!! FOOLS!!! ssssssssssjjjjjjjjjejejejeeeeeeeeeeeeeeeeeeeaaaaaa aaaahhhh!!!!!

    Comment

    • skiracer
      Senior Member
      • Dec 2004
      • 6314

      Originally posted by Websman View Post
      Ok, so who out there knows something about this bankrupcty stuff that Doug is talking about? Will my shares be wiped out if Winn Dixie comes out of bankruptcy? Or will I retain my shares and enjoy the profits?

      So, I guess this is a question of whether the present shares will be closed out and new shares will be re-issued. That would really suck to watch a profit get taken away.

      If what you say is true Doug, I would be better off selling for a profit while Winn Dixie is still in Chpt. 11.
      Webs,
      If you get a decent profit take it while you can. The best case scenario is that the stock will fluctuate up and down through the bankruptcy phase and then they will issue new stock and all the old shares will be worthless.
      As an example there was a stock called Warnaco that is a manufacturer of clothing and licensee of several very well known brand names of clothing that they sell under those names. The stock went under and went from $40 to .07 or so. My brother in law and I bought it several times at .06/.07 and it would go to to .16 to the .26 range and then would fall back to .06 again. It did this about 3 times over the course of approx. 1 year. At one time we had over 500,000 shares and traded in an out of it making alot of money each time. On the last trade I took my profits and my brother-in-law, whose family are zillionaires, thought that the stock was going to come out of bankruptcy at about $5 to $10 per share. I took my half out and the profits also. He held on and the company issued new shares and the old existing shares ended up worthless. He lost everything that he had left in it with the new issuance of shares. So take the profits while you have them in hand and be very careful of holding on looking for that pot of gold. There isn't any pot of gold with these bankruptcy stocks. They always end up issuing new shares and the old ones end up worthless.
      THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

      Comment

      • Websman
        Senior Member
        • Apr 2004
        • 5545

        Originally posted by skiracer View Post
        ...There isn't any pot of gold...
        Not true. There is a pot of gold. It's sitting in Bill Gate's house.

        sssssssssssssssssssssssssssssssseeeeeeessssssees!! !!

        Comment

        • IIC
          Senior Member
          • Nov 2003
          • 14938

          Originally posted by Websman View Post
          So, the lesson of the week is...and a new rule.

          DON'T BUY STOCK IN CHAPTER 11!!! FOOLS!!! ssssssssssjjjjjjjjjejejejeeeeeeeeeeeeeeeeeeeaaaaaa aaaahhhh!!!!!
          Good that you checked...Here is another similar article I found:



          I have a friend that bot some shares of a paint store company years ago...Standard Paints. They had stores all over So. Cal. They were in BK and the stock went to .25...when it went to .05 he told me he was buying more because it couldn't go any lower. Well, it did go lower...it went to ZERO...Although they actually shut their doors when they couldn't get a reorg going.

          Sometimes, people think that a big company can never go completely Chap 7...But it happens...Remember Sambo's Restaurants? They were a pretty large outfit...Doug
          "Trade What Is Happening...Not What You Think Is Gonna Happen"

          Find Tomorrow's Winners At SharpTraders.com

          Follow Me On Twitter

          Comment

          • Websman
            Senior Member
            • Apr 2004
            • 5545

            Thanks for the heads up on bankrupt stocks Doug!

            Comment

            • IIC
              Senior Member
              • Nov 2003
              • 14938

              Originally posted by Websman View Post
              Thanks for the heads up on bankrupt stocks Doug!

              No problem...Doug
              "Trade What Is Happening...Not What You Think Is Gonna Happen"

              Find Tomorrow's Winners At SharpTraders.com

              Follow Me On Twitter

              Comment

              • Websman
                Senior Member
                • Apr 2004
                • 5545

                Sold WNDXQ.PK and made enough profit to buy lunch for 3 at McDonalds! jejeje

                Comment

                • Websman
                  Senior Member
                  • Apr 2004
                  • 5545

                  As always, I take my loss on EZEN and now the piece of Vulcan **** is heading back up.... Oh well...learn and move on.

                  The VTP will prevail.

                  Comment

                  • peanuts
                    Senior Member
                    • Feb 2006
                    • 3365

                    Originally posted by Websman View Post
                    As always, I take my loss on EZEN and now the piece of Vulcan **** is heading back up.... Oh well...learn and move on.

                    The VTP will prevail.
                    Do all Vulcan pieces of **** head back up? I was just wondering cause, well, mine have been sinking. jejejejeje

                    Pretty soon, with the price floating back up, someone's going to get the idea to do a courtesy flush and that Vulcan POS will disappear
                    Hide not your talents.
                    They for use were made.
                    What's a sundial in the shade?

                    - Benjamin Franklin

                    Comment

                    • peanuts
                      Senior Member
                      • Feb 2006
                      • 3365

                      Originally posted by Websman View Post
                      Sold WNDXQ.PK and made enough profit to buy lunch for 3 at McDonalds! jejeje
                      Webs,

                      I've got the perfect place to park your money. Let me know if you want to know what I know
                      Hide not your talents.
                      They for use were made.
                      What's a sundial in the shade?

                      - Benjamin Franklin

                      Comment

                      • Websman
                        Senior Member
                        • Apr 2004
                        • 5545

                        Originally posted by peanuts View Post
                        Webs,

                        I've got the perfect place to park your money. Let me know if you want to know what I know
                        Of course I would like to know what you know! So, where is an excellent place to park my money Dude?

                        Comment

                        • Websman
                          Senior Member
                          • Apr 2004
                          • 5545

                          Originally posted by peanuts View Post
                          Do all Vulcan pieces of **** head back up? I was just wondering cause, well, mine have been sinking. jejejejeje

                          Pretty soon, with the price floating back up, someone's going to get the idea to do a courtesy flush and that Vulcan POS will disappear
                          I hope it gets flushed to the single penny range...

                          Comment

                          • peanuts
                            Senior Member
                            • Feb 2006
                            • 3365

                            Originally posted by Websman View Post
                            Of course I would like to know what you know! So, where is an excellent place to park my money Dude?
                            Since it seems to be the type of money that you are willing to put at high risk, may I suggest that you put it into one of my profitable microscopic nano caps... UCPJ.ob and SYTE.ob

                            Both companies make money AND have large growth prospects. Both have very high reward possibilities!!! Both are relatively unknown...
                            Hide not your talents.
                            They for use were made.
                            What's a sundial in the shade?

                            - Benjamin Franklin

                            Comment

                            • Websman
                              Senior Member
                              • Apr 2004
                              • 5545

                              Originally posted by peanuts View Post
                              Since it seems to be the type of money that you are willing to put at high risk, may I suggest that you put it into one of my profitable microscopic nano caps... UCPJ.ob and SYTE.ob

                              Both companies make money AND have large growth prospects. Both have very high reward possibilities!!! Both are relatively unknown...
                              Both are tempting. SYTE, in particular, is showing a bullish signal according to my exclusive VTP ratings system.

                              I will have to study them a little more. I may even purchase both of them.

                              Comment

                              • Websman
                                Senior Member
                                • Apr 2004
                                • 5545

                                UCPJ is a diving equipment maker... Not so sure this thing could go very far, but I'll still check it out.

                                Comment

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