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T O P I C     R E V I E W
hammond_man  - posted
T e x  - posted
ya think?

from the news:

These equity interests would be cancelled upon the effectiveness of the
proposed Plan of Reorganization.

Accordingly, we urge that caution be exercised with respect to
investments in Delta's existing equity securities and any of Delta's
liabilities and other securities. Investors and other interested
parties can obtain information about Delta's Chapter 11 filing on the
Internet at

T e x  - posted
how 'bout that...?

hit .35 from .615, now trading .405 x .41...
T e x  - posted
.38 x .385 ...
hammond_man  - posted
confirmed trend reversal! next major res * .53
metal1  - posted
well, its going to be canceled in early may so i don't see why it would rally. only a 1 1/2 months left of trading. i guess there are still some suckers out there
metal1  - posted
stock is now done..worthless
T e x  - posted
am assuming that PR confirms the ticker trades no longer...

still, am surprised you, more than most, don't understand these plays...didn't your bosses ever direct you to clear the books on a ticker?
metal1  - posted
you talking to me?? LOL. today would be the last day of trading for the Q stock
BooDog  - posted
Originally posted by metal1:
well, its going to be canceled in early may so i don't see why it would rally. only a 1 1/2 months left of trading. i guess there are still some suckers out there

klucq did the same thing... big run and then went to a big fat goose egg. now it's kalu at 80 bucks a share.
T e x  - posted
Originally posted by metal1:
you talking to me?? LOL. today would be the last day of trading for the Q stock

ya, lol...meant surprised you were surprised about "the run" ...
metal1  - posted
Originally posted by T e x:
Originally posted by metal1:
you talking to me?? LOL. today would be the last day of trading for the Q stock

ya, lol...meant surprised you were surprised about "the run" ...
HUH? i have no idea what you're talking about.
maybe i'm stupid today
PCola77  - posted
Unless I missed something, this stops trading for good in 7 minutes. Get what you can if you own any!
BooDog  - posted
someone tootin his own horn...

Triumph of hope over experience
Commentary: Delta Air Lines shareholders should have known better
By Mark Hulbert, MarketWatch
Last Update: 12:10 AM ET May 2, 2007

ANNANDALE, Va. (MarketWatch) -- To great fanfare, Delta Air Lines emerged from bankruptcy last week.
Its stock promptly dropped to 2 cents per share, and then stopped trading.
If that surprises you, you weren't paying attention. It's been obvious for some time that anyone owning common stock in Delta Air Lines, Inc. (DALRQ : Delta Air Lines, Inc
News , chart , profile , more
Last: 0.02-0.03-66.04%

8:11pm 04/27/2007

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DALRQ0.02, -0.03, -66.0%) was going to receive precisely nothing in whatever settlement would eventually be reached in bankruptcy court.
Yet, believe it or not, many apparently found this outcome surprising. As recently as one month ago, in fact, Delta shares traded hands for as much as 48 cents per share. In the week following the airline's declaration of bankruptcy in September 2005, furthermore, its shares traded for as high as $1.
What possibly could investors have had in mind when they paid that much for the stock? As I quoted Morningstar as saying in a column I wrote in the wake of the company's September 2005 bankruptcy declaration, "virtually any outcome (of the bankruptcy proceedings)should result in the wiping out of shareholders." See Sept. 16, 2005, column
I received lots of e-mail following that column a year and a half ago, suggesting numerous answers to my question about what investors had in mind. The leading hypothesis was that Delta's stock was being buoyed by short covering.
But that doesn't make sense to me. Why would a short seller in Delta stock cover immediately if he knew that, by waiting, he could cover at near zero? Covering right away also had adverse tax consequences.
I suspect that the true explanation involves, at least in part, what Samuel Johnson famously once said about remarrying following the end of an unhappy marriage: It's a triumph of hope over experience.
If investors who bought Delta stock when the company was in bankruptcy believed that there might be something left over after paying all the creditors, they simply were deluding themselves. Even holders of Delta's bonds were not expecting to get back more than a tiny fraction of their money, and yet they needed to be paid in full before owners of common stock were to receive anything.
Investors might have believed there wasn't much risk in Delta's stock, on the grounds that it was already trading for so low a price. If so, they were deluding themselves again: A stock that drops to zero is a 100% loss, no matter how low a price was paid for it initially.
This case illustrates that the stock market isn't always as efficient as many researchers think it is. To be sure, it is very efficient in most cases. But it isn't always. And we should never assume that, just because the market is largely efficient, it is impossible for the market on some occasions to set a price that is completely irrational.
This discussion reminds me of the apocryphal story of the distinguished finance professor being followed across the campus by a group of loyal graduate students. One of those grad students, upon spotting a $50 bill lying on the sidewalk, stops to pick it up only to be told by the professor not to bother, since if it really were a $50 bill, someone already would have picked it up.
As the price of Delta stock over the last 19 months illustrates, sometimes there really are $50 bills sitting on the sidewalk.
Mark Hulbert is the founder of Hulbert Financial Digest in Annandale, Va. He has been tracking the advice of more than 160 financial newsletters since 1980.
metal1  - posted
the worst thing is that we aren't able to short these things. damn, MM's get to make all the easy money
T e x  - posted
can't short what, pennies or Qs?
metal1  - posted
T e x  - posted
you can...but is a hassle
countryboy2u2  - posted
DAL is selling now
BooDog  - posted
$DAL is a non-trading Index, which represents the DELTA AIR LINES INC

shows how screwed up scottrade is. put in DAL and it gives me $DAL
BullishFlow  - posted
whats an mm?
T e x  - posted
Originally posted by BullishFlow:
whats an mm?

stop now, lol

go to the edu section from homepage (not the message board) or General Investing topics here on da board...

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