The Shorting of Frauds, Overhyped and Bankrupt Stocks Journal

Quote from Chuck Krug:

sorry for the double tickers
don't know how that happened



Total in USD -124,144.62 -114,610.57 9,534.05 100.00
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how do you keep up with so many companies?
 
it doesn't really take that long about 5-10 hrs a week.

i just get ideas from everywhere and then i enter very small positions and add if it goes my way and cut back if it doesn't .
the money management takes about 1/2 hr a day
 
PPHM is on a BK watch. I'm already short as part of my garbage strategy but I'm on the lookout for a possible intraday large short on BK rumors/facts
 
Quote from Daal:

http://www.proskauer.com/news/press...aicht-joins-proskauer-as-partner-in-new-york/

Key here is to cover short immediately if there is any kind of 'deal' in the works or any agreement to solve things outside BK. I got squeezed hard on KCG by ignoring that
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Not sure if it was PCX or some other bankrupt company - the suggestion you made after that was to wait for a mainstream (eg. Bloomberg) story about Chapter 11 filing, before taking a larger short position.

Although the Tweeps are saying that Debtwire did get PCX right previously.

****

update about share price decline but nothing specific about Chapter 11 or other restructuring:

http://online.wsj.com/article/BT-CO-20121016-711056.html

Shares of Overseas Shipholding Group Inc. (OSG, $4.11, -$1.06, -20.50%) took a big hit amid investor concern that it has maxed out it lending facilities and could soon face a liquidity squeeze. Shares have been on the decline pretty much since 2008 amid a rough shipping market. Debtwire, citing two hedge fund analysts, said late last week that Goldman Sachs and UBS are shopping around about $100 million in the tanker's revolver, looking to create a market for the debt before OSG needs to refinance early next year.
 
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