As Web's World Turns

[Websman]

Time for some new picks from the VTP...

[Websman]

Hopefully, they won't take profit off of you by throwing you in prison.

Don't threaten me with a good time...

[skiracer]

He's already there...Doug

There were two occasions in my life where I spent some time in New Jerseys state prisons. Trenton State Prison and Rahway. Both rough places and no place for the timid to find themselves. One of the favorite expressions of the inmates was to say that the guards were all "doing life" which was true in the sense that most of them were there 5 days a week for at least one 8 hr. shift per day. I always has to question how they could do that for at least 25 / 30 years knowing they had to go back there everyday to kind of "finish their sentence" and get their "release" thru their retirement and pension.
One thing about working as a guard in any high security prison environment is that you have to deal with individuals that have any number of serious crimes in their jackets and may have several bodies hidden somewhere and nothing further to lose by attacking a guard. And I saw a number of guards take it on the chin from guys who had nothing else to lose and could care less. Violence and a violent nature were the only things in there that gained you respect or maybe if you could read, write, and spell.
Webs, that chart looks great. double bottom cup base and the 20 ema just crossed back over the 50 ema. still showing alot of strength in making the right side of it's cup base. you may have missed out on some of the best part of a continuing move up. lot depends on the market which I still feel is ripe for a bigger correction.

[IIC]

Hopefully, they won't take profit off of you by throwing you in prison.

He's already there...Doug

[em26jamie]

Took profit on GEO @18.42. Judging from the latest news, prison privatization is meeting too much resistance...I'll keep a check for news developments as they happen.

Hopefully, they won't take profit off of you by throwing you in prison.

[Websman]

Took profit on GEO @18.42. Judging from the latest news, prison privatization is meeting too much resistance...I'll keep a check for news developments as they happen.

[Websman]

looks like it could be at its bottom on the weekly chart. its forming a decent cup base but in my opinion not the best market timing right now for any long positions. Webs. market is going to correct right here. patience may have paid off and allowed a cheaper entry. market is definitely due for a correction and it looks like it will happen. but good luck with it. you never know and only can make the most educated well researched entry possible when buying these stocks.

Thanks Ski!

I did go in with just a small position for now...I'll set my stops.

[skiracer]

Just picked up a small starter position in GEO @17.64. Considering the market conditions, I don't want to get in heavy yet. I may buy more shares on a pullback. 29 facilities will be up for bid in Florida, if the legislature get's it approved, which could send GEO into rally mode, imo.

looks like it could be at its bottom on the weekly chart. its forming a decent cup base but in my opinion not the best market timing right now for any long positions. Webs. market is going to correct right here. patience may have paid off and allowed a cheaper entry. market is definitely due for a correction and it looks like it will happen. but good luck with it. you never know and only can make the most educated well researched entry possible when buying these stocks.

[Websman]

Possible penny play: I just put GTGP on my list, but have not bought yet. Penny stocks need volume to run, and I haven't seen enough of that yet to pull the trigger.

[Websman]

Just picked up a small starter position in GEO @17.64. Considering the market conditions, I don't want to get in heavy yet. I may buy more shares on a pullback. 29 facilities will be up for bid in Florida, if the legislature get's it approved, which could send GEO into rally mode, imo.

[Websman]

Webs,
Let us know what happens or will the stock prices tell us ahead of time? Can't remember if you got out yourself. Hope it doesn't effect you negatively.

-------------billy

Thanks for the concern Billyjoe, but it won't have much of an impact on me.

If the legislature manages to get this approved, it'll be huge for whichever company wins the bid...I think it'll be GEO. There might be a small run in anticipation of the news, but I don't think we will see a big run until approved contracts are announced. The good news is that we now have a heads up.

[billyjoe]

Webs,
Let us know what happens or will the stock prices tell us ahead of time? Can't remember if you got out yourself. Hope it doesn't effect you negatively.

-------------billy

[Websman]

Webs whats on the watch list? I going to try and be a little more active trading this year.

Just started researching two companies... GEO and CXW. Private prison stocks could make a nice run if the Florida legislature gets their way...


Private-prisons bill advances in Florida Senate
By Steve Bousquet
Herald/Times Tallahassee Bureau
As emotions run high, lawmakers are again fast-tracking privatization of South Florida prisons while the state rushes to shut down seven others, an economic and political one-two punch that is creating anger and anxiety statewide.
The Senate Budget Committee voted 13-5 Wednesday to fast-track privatization of prisons in the southern tier of the state. Correctional officers who were not allowed to testify shouted “Shame, Shame!” as security personnel hovered near lawmakers.
Republican lawmakers are determined to overcome a judge’s rejection of last year’s privatization plan and pass a plan that can survive legal scrutiny. The current proposal, which would amount to the largest expansion of prison privatization in the country, would replace the state with for-profit vendors at 30 prisons in 18 South Florida counties. Only the South Florida Reception Center in Miami-Dade County, a point of entry for inmates, would remain state-run.
“I don’t have a particular bias for public or private,” said Senate Budget Chairman JD Alexander, R-Lake Wales, privatization’s leading advocate. “But I am charged, for one more year, with making every dollar count.”
For-profit prison vendors would be required to run prisons at a cost of at least 7 percent less than what state-run prisons cost taxpayers. Opponents say the savings would be outweighed by the loss of jobs, economic dislocation and lack of accountability.
“You don’t have all the facts,” former state Sen. Ron Silver of North Miami Beach, a lobbyist for the Teamsters Union, told Alexander.
Alexander says cheaper prisons would stave off cuts to schools and healthcare, and the pursuit of privatization has become his final legislative crusade. But opposition is building on multiple fronts.
Correctional officers and unions say privatization is being rushed and will cause widespread disruption to families, where it is common for two or more members of the same family to hold prison jobs.
And opponents are reviving past privatization fiascoes, including overbilling by prison operators and botched outsourcing of prison food services and inmate medical care.
Prisons are not just warehouses for criminals. In the jargon of modern-day politics, they are job creators — especially in struggling small towns where few job opportunities exist. But with the state pinched by a $1.4 billion shortfall and with the prisoner population shrinking, officials say it is a waste of money to keep empty prison dorms open.
Prison guards are incensed that over the past year the Department of Corrections has quietly moved the most troublesome and costly inmates from South Florida prisons to prisons upstate, making the southern prisons more attractive to profit-minded prison vendors. A spokesman for the system, Ann Howard, said 79 inmates in the south are classified as “close management,” out of a total of 10,000.
Silenced by senators Wednesday, the workers became even angrier, until Alexander met with three dozen of them for an hour and listened to their concerns. They included Sarah Babineaux, 40, who earns $32,000 a year after eight years at Martin Correctional, one of the South Florida prisons that would be privatized.
She said she lies awake at night, not knowing where her next job will be.
“It’s stressful,” she told Alexander. “My 17-year-old is looking for a class ring and I don’t know where I’m going to purchase it.”
Herald/Times staff writer Tia Mitchell contributed to this report.
Read more here: http://www.miamiherald.com/2012/01/25/v-print/2608357/private-prisons-bill-advances.html#storylink=cpy

[Larry]

Webs whats on the watch list? I going to try and be a little more active trading this year.

[billyjoe]

Jb

re, jb:

"if the cow never jumps, it's impossible to prove whether or not it actually can or cannot jump over the moon" seeking alpha

-----------billy