As an admitted bottom feeder, I'm curious as how some of the more experienced traders would approach this debacle known as Enron at this point. I have only been around for a couple of years, and interested if this situation would present a possible short term play-if so, why, or why not. Is there opportunity here, or is this a pile to steer clear of....for future reference, how does the trader view this, or similar plays??
ENE-thoughts
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Sounds like the obits are being printed-but what keeps going through my mind is, what are the mechanics of this situation, ie for all those people selling a kazilla shares lately-who is sucking up all these shares of this dead horse & and what happens if the shares go right down the toilet?
The stock market is full of speculators and gamblers. A lot of
people just love penny stocks. You never know, ENE might
have a last hurrah and jump up to 94 cents. That would be
about a 50% gain in a day or two or three. Go ahead, buy
10,000 shares. Try your luck. Kind of like going to the casino.
My dad bought 1000 shares. But then again, he spends half
his time in Las Vegas. Likes to gamble.
people just love penny stocks. You never know, ENE might
have a last hurrah and jump up to 94 cents. That would be
about a 50% gain in a day or two or three. Go ahead, buy
10,000 shares. Try your luck. Kind of like going to the casino.
My dad bought 1000 shares. But then again, he spends half
his time in Las Vegas. Likes to gamble.