Stocks and Trading Thread - Channeling your inner Mono

[DGuller]

Best Buy laying off 2400, including most of the Geek Squad.


Sorry, geeks.

Wow, free market does work.  Eventually.

[DGuller]

Hey, that's false advertising.  That's far from "most of the Geek Squad".  Fuck capitalism.

[Baron von Schtinkenbutt]

So I enrolled in the ESPP today.  Company stock at a 10% discount with no brokerage fees and a ~3.65% quarterly dividend?  YES PLZ.

My discount is 15%.

You fuckers and your ESPPs.

[Baron von Schtinkenbutt]

Now that RIMM is selling in the single digits, I'm wondering how likely it might be that somebody just says fuck it and buys them for their patent portfolio.   

I'd jump on some of that if I had the cash handy.  My meager IRA is all tied up in Blackrock Kelso (BKCC) at the moment, though, and I have no impetus to change that.

[Phillip V]

[Tamas]

So basically, fall was stopped / rally was resumed every time they pumped fresh air into the collapsing bubble?

[MadImmortalMan]

OT-extended is really small compared to the others.

Also, there's only so much left of the short term treasuries to sell. They're running out.

[MadImmortalMan]

The PFG guy is screwed. Here's his suicide note.


http://www.zerohedge.com/news/full-pfg-ceo-suicide-note

Maybe better if his suicide attempt had been more successful than his business,

[MadImmortalMan]

Market is dumping while Bernanke talks. They aren't hearing the "easing" word. It's like a meth addict. Give me what I want or I'll throw a tantrum and break your stuff.

[Tonitrus]

I seem to have the kiss of death for stocks lately.  I picked up PBI, thinking they looked undervalued and had an awesome dividend...and it has been sliding further downward ever since... 

[Admiral Yi]

Dumping?  The S&P is down half a percent.  That's daily noise.

Tonto:  I bought some PBI as well.  As long as they don't go belly up and continue to pay a decent (great) dividend, who cares about the price?

[Tonitrus]

I know...I am still thinking of selling another loser I have and picking up some more.

[MadImmortalMan]

Dumping?  The S&P is down half a percent.  That's daily noise.

Tonto:  I bought some PBI as well.  As long as they don't go belly up and continue to pay a decent (great) dividend, who cares about the price?

Looking at the chart I'm watching it does look like dumping. The thing is down a couple of S&P points almost vertically. But it's only a 5 day timeframe so it looks like a lot. It seems lots of people are very happy with the 1350 SPY level. It's like a magnet.

PBI has taken a beating. Most analysts put it's fair market value at about $19-$22 though. Trading below $14 now. I think people are wary of a dividend that high, frankly. I looked up their balance sheet a couple months ago, and it didn't seem terrible. High debt, but decent free cash flow. They're paying out a lot of their revenue in dividends, obviously.

[Admiral Yi]

I'm not worried about the market for postage meters disappearing.  For that to happen junk mail would have to disappear.  I do however worry about what happens to PBI's cash flow and balance sheet when Teh Fed tightens money.  Seems to me the smart thing to do would be to use revenue to pay down debt instead of paying out dividends.

[MadImmortalMan]

True, but the Fed is committed to keeping rates low at least through 2014 if you believe what they are telling us. PBI reports earnings on August 2nd if you're interested in checking it out. I like to listen to the conference calls on stock I own to see what the guidance is and how they answer the questions from analysts. Somebody is bound to ask if they plan to lower the dividend. You can download the audio or listen live.


Edit: Looks like the mini-dump is over, and we've gained back most of it.