Kriesau,
Market participants are trying to ride on the Kerkorian bandwagon, he has a track record of corporate raiding and stakebuilding that dates back to the 1980s. There was a time that he engaged in Greenmail and was very successful at it.
Market participants are trying to ride on the Kerkorian bandwagon, he has a track record of corporate raiding and stakebuilding that dates back to the 1980s. There was a time that he engaged in Greenmail and was very successful at it.
macbonzo
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user said:
It really never ceases to amaze me how the Government figures (EIA) and the industry figures (API) are always so far apart:
Crude Gasolines Distillates
EIA 2.6m 2.2m -300K
API 10.2m 649K - 697K
Still not complaining, it gave me a rather nice play through 10300.
LION63 said:
I understand what you're saying and most of the Dow has followed it up. Kekorians offer at $31 is 36% off the last 12 months high so he obviously sees it as good value or maybe he is averaging down
However GM is now up 17.7% and is also 5.4% above Kekorians price. This does not make sense to me.
roguetrader
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Internals very strong so far supporting this move, total volume ahead of yesterdays pace, though volume was light at this time yesterday. SOX leading this move
Kriesau,
He had been buying in the market during the last few weeks at lower prices. One must remember that he is making a tender offer to buy the shares from existing holders which reduces the liquidity (a bit) and forces the price up. He has the tendency to be active which will mean restructuring and all the benefits that follow it. Most of those buying are looking for "a bigger fool."
He had been buying in the market during the last few weeks at lower prices. One must remember that he is making a tender offer to buy the shares from existing holders which reduces the liquidity (a bit) and forces the price up. He has the tendency to be active which will mean restructuring and all the benefits that follow it. Most of those buying are looking for "a bigger fool."
Racer
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kriesau said:
yes am short.. am gradually building a big short position. It is very hard to find exactly the right place to do a long term trade so I scale in ,and I usually look several months in advance and that is what I am playing for now. not trading this market any more. Too hard to catch the daily volatility. BTW still a lot of selling pressure about 10340 on cbot
I have got a big long on a FTSE company so hedging it while I wait.
LION63 said:
Well there has to be a question about his leverage with a 9% holding in terms of pushing through any major restructuring.
GM now 85 cents off their high but still more than a dollar over Kekorians offer.
Question now is will the Dow break through resistance at 10360 and move on toward 10490 or will it give back some of this mornings gain and fall back below 10300. Answers on a postcard please to...............
