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Author Topic: DCN Possible Bounce Play?
braggtd
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This stock has been hammered lately.
Posts: 146 | From: Denver, CO, USA | Registered: May 2004  |  IP: Logged | Report this post to a Moderator
bubbydaddy
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Hell yes. Though it seems to hinge on whether they get funding to pay their debts or file for bankruptcy. See my posts yesterday afternoon under "CHK added to S&P500" for more.
Posts: 49 | From: Tucson, AZ | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
braggtd
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Guess not, this thing is getting hammered harder.
Posts: 146 | From: Denver, CO, USA | Registered: May 2004  |  IP: Logged | Report this post to a Moderator
bubbydaddy
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see DMSI thread started by Raptorsrule, I see DCN as the same thing.

JMO.
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bubbydaddy
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this thing doesn't have a bottom till there's news on the debt payments:

http://www.freep.com/apps/pbcs.dll/article?AID=/20060302/NEWS11/303020001
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braggtd
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I am glad I held off. Amazing, this use to be a powerhouse company.
Posts: 146 | From: Denver, CO, USA | Registered: May 2004  |  IP: Logged | Report this post to a Moderator
bubbydaddy
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...and here's the news:

Dana U.S. operations go bankrupt

August Cole, MarketWatch
Last Update: 4:31 PM ET Mar 3, 2006


SAN FRANCISCO (MarketWatch) -- Automotive supplier Dana Corp., whose shares have lost more than half their value during the past two sessions, threw its U.S. operations into voluntary Chapter 11 bankruptcy protection Friday, conceding that they were no longer able to meet financial commitments.

Should get relisted as a pink sheet (I am totally wild ass guessing, but maybe .10-.30?) and make an insteresting intra-day play. Anyone else interested now?
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bubbydaddy
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DCN now trading as DCNAQ, >60 mil volume, price ranged today between .7 and 1.67!
Posts: 49 | From: Tucson, AZ | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
bubbydaddy
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stabilizing nicely around .80. Gonna watch a few more days before making any move.
Posts: 49 | From: Tucson, AZ | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
   

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