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aggreed boo..i have been hitting some low GTC bids and it hits and then goes up a little..and then seems to just die a slow death from there...ticking down very slowly tick by tick by tick...WTF is with this market..i might just take the ol saying.."when the market is weird, go golfing" ..oh thats not an ol saying....OK then..its a new saying
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quote:Originally posted by Morpheus: F'in PPC just hit a low of 1.15...thats down about 50% for the day..what up with that?
Guess I didn't look up fast enough to see that truck coming. They have their financing waivers or whatever they are, MM's are just playin us now. LOL people runnin for the hills!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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just tho throw this out there...SIRI had some serious action the last 2 days...im thinkin if it retest the .20 low ill just pop 2k into it for kicks..
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the news puppets on CNBC just talked about PPC..saying htey stated that they need a liittle n=more time to repay some interest payments..thats todays story..so that explains the high drop..but its clawing back now
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i picked up 100 shares of DUG at the ..what i thought would be the close price....43.75..and 10- seconds later dropped to 43...just a a pure spec play for tomorrow..
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Looks like PPC might bounce off bottom today it was 4 bucks a week or so ago and I thought about getting it until the credit problems they had but scottrade charts are showing a narrowing of macd lines and indicating a bullish trend night happen and it is a lot lower than expected ..heres the scottrade quote info:
Moving Average Price Compare Yesterday, PPC closed below its 13 minute moving average. This is generally considered to be an indication of a bearish trend.
Moving Averages No current signals
Bollinger Bands PPC is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.
MACD PPC's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish.
Williams %R The %R is currently at -33.33% which indicates that the stock is neither overbought nor oversold. Note the trend of the %R to see if the internal strength of PPC is improving or weakening
Looks like (in my opinion) that it will dip a little from yesterdays gains then head back up..So if you have ever followed my recomendations you might want to stay away..
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Nevermind,, I just found that they might be filing chapter 11::: Chicken producer Pilgrim's Pride has lost most of its market value in recent months on worries that it will default on its long-term debt. Some analysts say bankruptcy or a sale of the company may be necessary.
Shares in Pilgrim's Pride (nyse: PPC - news - people ) plummeted 34.3%, or 78 cents, to $1.35, on Tuesday.
Pilgrim, like many food makers, has been hampered by high costs for key ingredients like corn and oil. It hedged some of its purchases but as prices moderated, it lost money on those hedges.
The company carries a large debt load primarily because of $1.5 billion in long-term debt it took on after its January 2007 acquisition of rival Gold Kist. Pilgrim had told its lenders that it did not expect to be in compliance with a fixed-charge coverage ratio covenant for this fiscal year, and a waiver, set to expire Tuesday, was signed to prevent a technical debt default. (See: "Pilgrim's Pride's Shame.")
Before the bell Monday, the Pittsburg, Texas-based company announced that its lenders had given it a temporary credit extension through Nov. 26, but it may not be enough. Stephens analyst Farha Aslam warned that "the fact that the company was not able to secure more permanent financing is telling. The troubles in the industry are considerable, particularly given the weakening export environment."
Some analysts say Pilgrim could file for bankruptcy, though the company said that is unlikely. Others say the company is ripe for a buyout, either in whole or in part, by competitors. "We find it unlikely that the company, under pressure from its bankers and advice from its consultant, will continue in its current form," noted Deutsche Bank North America analyst Christina McGlone last week. "Essentially, Pilgrim's Pride as we know it today will cease to exist."
Company spokesman Gary Rhodes said earlier this month that filing for bankruptcy wouldn't be in "anyone's best interest" and that the company was working on a plan to help it address industry woes like weak demand and pricing and an oversupply of chicken. He said Pilgrim was looking at opportunities to refinance and find more ways to operate more efficiently.
It's not likely that Pilgrim's lenders would encourage it to file for Chapter 11 bankruptcy protection, said Barclays Capital analyst Christopher Bledsoe. If that happened, the poultry producer would have to sell its assets, including chicken products, which would flood the market and push prices downward. That would hurt its competitors, many of whom receive financing from the same sources.
"If you're an agriculture lender like some of Pilgrim's Pride's lenders are, then you risk throwing your other customers, your other loans, into a further distressed situation," Bledsoe said. Instead, he said, the banks may prefer Pilgrim to be sold either outright or at least in part, preferably to someone with a stronger balance sheet.
Aslam said protein producers could see their prices fall as export markets weaken due to the worldwide credit crisis but the drop in grain prices will help offset the export weakness. Still, the industry needs a bigger production cut to boost profits, Aslam noted. Companies have already pledged production cuts, and that is expected to be a drop of 5% to 7%, but a drop of 7% to 10% is likely needed to "regain a healthy normalized profit level."
Further hurting the industry is weak demand, partially caused by slow sales in restaurants as consumers turn to eating at home. An oversupply on the market has also been keeping prices down. But Pilgrim said certain trends--such as a decline in the number of egg sets, or the eggs being laid that will turn into chickens, and lower feed prices--bode well for the company and the industry.
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Hey BooDog, can you see why VPRT dropped so hard this morning? I cant find bad news or info that would make it drop other than people taking profit from yesterdays increase.. wish I would have got it at 16 this morning...
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VistaPrint plunges on lower forecast, downgrades Wednesday October 29, 9:25 am ET VistaPrint shares drop after it lowers outlook; analysts downgrade stock
NEW YORK (AP) -- Shares of Bermuda-based marketing company VistaPrint Ltd. fell sharply in early morning trading after analysts downgraded the stock due to the company's trimmed fiscal 2009 outlook. Shares fell $5.22, or 21 percent to $19 in premarket trading. The stock closed Tuesday at $24.22.
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