Bottom line is that I'm sticking with my aggressive ADT bear position.
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RM's occasional market calls...
- Thread starter Rearden Metal
- Start date
Quote from western:
I also wonder if ADT might be up due to speculation that its Bill Ackman's next long candidate, same reason why fdx is up so much.
That is the exact reason I was reading this afternoon.
Some big $ was moving on Ackman rumors today. Surprised he still carries that much weight after JCP disaster and HLF nonsense.
<b>FedEx and ADT Get Boost From Ackman Rumors</b>
Two of the best performing stocks in the S&P 500 today can credit their gains to some speculative sleuthing, or guessing, by the market.
The shipping giant FedEx Corp. FDX +4.37% popped 4.4% to $103.05 on six times its typical volume. Meanwhile, security-system company ADT Corp ADT +5.18%rose 5.2% to $42.02 on twice its average volume. Both were among the 10 biggest gainers in the S&P 500 on Tuesday.
The reason for both gains: Speculation one of them may be the mystery target of activist Bill Ackmanâs Pershing Square Capital.
http://blogs.wsj.com/moneybeat/2013/07/09/fedex-and-adt-get-boost-from-ackman-rumors/?mod=yahoo_hs
Two of the best performing stocks in the S&P 500 today can credit their gains to some speculative sleuthing, or guessing, by the market.
The shipping giant FedEx Corp. FDX +4.37% popped 4.4% to $103.05 on six times its typical volume. Meanwhile, security-system company ADT Corp ADT +5.18%rose 5.2% to $42.02 on twice its average volume. Both were among the 10 biggest gainers in the S&P 500 on Tuesday.
The reason for both gains: Speculation one of them may be the mystery target of activist Bill Ackmanâs Pershing Square Capital.
http://blogs.wsj.com/moneybeat/2013/07/09/fedex-and-adt-get-boost-from-ackman-rumors/?mod=yahoo_hs
Rumors that Ackman has somehow fallen in love with ADT will not only turn out to be completely false, I doubt they were ever half sincere to begin with. BSD managers have been gradually building their short positions in ADT for months now, because they see what I see; Aggressive new competitors grabbing market share, undercutting pricing, and all but ensuring an ADT earnings miss at some point in the near future.
So how do they temporarily boost the share price and get more shares short at overvalued prices? Spread bullshit rumors, that's how... and it worked like a charm. The marks & suckers and got long ADT today, while the smart money sat there boosting their short positions and laughing at them. You'll see, just wait...
So how do they temporarily boost the share price and get more shares short at overvalued prices? Spread bullshit rumors, that's how... and it worked like a charm. The marks & suckers and got long ADT today, while the smart money sat there boosting their short positions and laughing at them. You'll see, just wait...
It is that type of thinking that separates good traders from those who are just flittering about with no rudder
Quote from Rearden Metal:
So how do they temporarily boost the share price and get more shares short at overvalued prices? Spread bullshit rumors, that's how... and it worked like a charm. The marks & suckers and got long ADT today, while the smart money sat there boosting their short positions and laughing at them. You'll see, just wait...