Position Update: FTK
June 5, 2008 – 1:07 pm
If you’re interested in a potential short squeeze, take a gander at [[FTK]] again. With 4 million shares sold short or 15% of the float, and crude/natty going up, this sucker has a potential to print $20+ again.
The downside surprise has been eliminated, at least in the near term, due to the company’s recent guidance. And, if you’re a glass half full type of guy, one can make the argument that the current eps estimates represent a very low bar for the company.
In short, trading under 15x, FTK can easily rip to the low 20’s and start a short squeeze, especially since the stock trades on thin volume.
From the logo, I take it you are bullish on America.
June 5th, 2008 at 1:10 pmI’m always bullish on America.
It’s just the stupid stock market that pisses me off, sometimes.
June 5th, 2008 at 1:13 pmThe market optimism is spreading even with the uptick in oil today. Every sector ETF is up. PPT is active. End of day will tell.
June 5th, 2008 at 1:19 pmAny chance the PPT will just run out of money?
June 5th, 2008 at 1:30 pmPump and dump?
lol jk, i like this FTK, and own it, despite risking my mustache being round house kicked
June 5th, 2008 at 1:30 pmTR- They’ll just print it…on toilet paper if need be.
June 5th, 2008 at 1:31 pmI’m long term on FTK, until it goes higher.
June 5th, 2008 at 1:38 pmNasdaq is going to test 2000 levels if the DOW runs to 14,000 jfc.
June 5th, 2008 at 1:42 pmSteel stocks going to new highs. Just look at X and its bandits. Expensive steel is better anyway, fuck the cheap shit.
June 5th, 2008 at 1:52 pmMark my words, by all that is holier than thou the monster market rally will succumb to the forces of the “no jobs” report looming and the market shall close “flattish” today and then down huge tomorrow.
So it is written, so let it be done.
June 5th, 2008 at 1:56 pmI went long again on MT and X 2 weeks ago. I think there is a lot more upside to be had if they can close the gap between spot steel prices and contract prices for 2008 which they are trying to do.
June 5th, 2008 at 1:59 pmMasterDebater-
The clerk at my convenience store agrees with you.
June 5th, 2008 at 2:11 pmPPT is getting money from the BOJ. They will continue to throw it at us as long as we have any kind o industry or nuclear arsenal left. It’s time to firebomb Tokyo while we still have productive capacity.
June 5th, 2008 at 2:19 pmIt has begun. Take cover, for the wrath of he who’s name must not be spoken (me) has commenced its fury.
Shroom - I know Apu very well. Great guy. Always gives me the “fatwah discount” on Slurpees.
June 5th, 2008 at 2:23 pm