10/11/2012 Live Update

[Cobra]

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Gap up within yesterday's range, so the gap might be filled.

For Global ES, I read this up leg as just a rebound as it even doesn't touch the Fib 38.2% yet. Given the strength of the rally, I guess this rebound may have legs.

[KeiZai]

GM fighters

my 2 charts 4 today

DAX

EURO (1.2980 is my evil level of interest)

GL all

[TraderJoe]

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

[bap309]

I believe the standard rule of thumb is that the price should approximate 90% of the offering price.

Bap309

[Out of Bounds]

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

The report I read said "advanced talks" so this is a high probability deal. I would not sell any in the early morning. Let the news spread and the stock adjust. Then the arbitrageurs will do their work and bring it to buyout price minus time value.

[Harapa]

Momentum Block Update:
The currencies markets, which in my experience lead the equities, are improving. Since my post of last night 2 out of 3 important currency pairs have moved to buy side while others are inching towards the buy side. This along with an improving US equity futures and European markets is encouraging for the long side, at least for now. You can view the complete table here http://www.blogger.com/blogger.g?blogID ... 2037757865

[TraderJoe]

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

The report I read said "advanced talks" so this is a high probability deal. I would not sell any in the early morning. Let the news spread and the stock adjust. Then the arbitrageurs will do their work and bring it to buyout price minus time value.

Thanks, my feelings also. This is my first ever buyout stock..

[L_T]

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

Everything I've ever seen says to take the money and run when a buyout offer is made. What happens if they rescind? You hate yourself for not taking the easy money! At least take some profit IMHO. Curious to see what others think.

[uempel]

Joe, if your stake is an important part of your portfolio and the amount is vital to you - you might want to sell, or sell half the position. If the stake is immaterial to you I'd wait and see.

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

[Out of Bounds]

Thanks, my feelings also. This is my first ever buyout stock..

It's a great feeling. Congrats.
uempel is right. If this is a big stake, take some profit.

[Petsamo]

Anyone else think we get an all-day rally? Japan, Hang Seng, & India rallied nicely from their gap down.

[uempel]

P&F charts suggest that there is going to be a tradeable bounce at 1430ish

[Tabby]

How high could Sprint (s) go up today?

[TraderJoe]

I do not have that much in them, I bought $4.50 calls for under .60 each.
Thanks for you opinion.'
Joe

Joe, if your stake is an important part of your portfolio and the amount is vital to you - you might want to sell, or sell half the position. If the stake is immaterial to you I'd wait and see.

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.

Would you hold off and see if it moves up closer to the $8.54 or sell at the $6ish??

Short interest as of 9/28 was 88 Million, but they may be out in pre-market??

My feel, since the offer is there, the price should NOT go down??? I sure would appriciate opinions!!

Thanks in advance for your opinions..
Joe

[uempel]

Anyone else think we get an all-day rally? Japan, Hang Seng, & India rallied nicely from their gap down.

Not sure how long it will last but there sure will be a nice bounce (unless I'm very, very mistaken )

[Cobra]

the open.

[gappy]

Good Morning,
I would like the opinion of the 'Board Masters' on this;
I own 50 well in the money Oct. call options on 'S' Sprint.
Today, Softbank offered to buy controling interest (assuming 51%) for 12.81 Billion valuing the stock at 25.62 Billion (per one source).
With 3 Billion shares outstanding, that is $8.54 per share.
In pre-market I saw a high if $6.11 and I saw four 500,000 share purchases around $6 (Either cover shorts or big boys loading up?) and quite a few buy & sell of 250,000 Shares.


Thanks in advance for your opinions..
Joe

Wow. Kudo's! Maybe wait until the market has exhausted this pre-election rebound and take profit leaving only "house" money left and roll over if price maintains. Same problem here, I have 600 VRNG warrants 60% up, and waiting to break the pivot. In S 500 shares this am @ 5.69, but because of a possible debt refinance now and strong brand/ bandwith property, will let it ride into next year. So, depending on your level of pain if things sour, take some of that bird in the hand. Anyways, good luck.

[Jack12]

Anyone else think we get an all-day rally? Japan, Hang Seng, & India rallied nicely from their gap down.

im looking to short 1448 possible down to yesterdays low, concerned because we have only done 3 waves down we will see at 0.618 retrace. ftse already broke to the upside.

[skittlesmds]

Thank You Cobra for your members update. I bought S & P Mini yesterday after the close and am a happy Mississippi man.

[Me XMan]

Nice gap!

the open.