London,
Are you gonna buy Lehman today? It's down to $25 and some change.....so far.
If you bought BSC at $70, buy some more at $2 to average down (or up).
You cannot lose with "buy and hold" and DCA.
the NYSE still has BSC listed
The shareholders at BSC still have to approve the deal.Also BSC may find a different buyer to buy at a higher price.
Whatever it is, BSC is too risky to buy or short sell.
I lost my a** a year ago with a similar deal. I sold aftter stock had gone from 70 to 10.6. 3 months later all common and preferred div had been stopped & it was selling at 3; 6 months after that it was at 1.10 on the pink sheets.
Best of luck.
Lets hope that this thread marks the end of cocky, arrogant posters like the one who started this thing. Just how "stupid" (as the original poster suggested) was anyone who didn't follow their advice? I'd extend this hope to the "penny stock mavens" who sometimes haunt these boards, attacking anyone who disagrees as a "penny stock basher" or worse.
(long - civil discourse)
Bear is at $6 now.
If you listen to me average down yesterday (at $3), you are up 100%.
After that you made the remark that it was too risky to buy or short, xeonogear. (yeah, I know you were being facetious).
Besides, I'm the one that predicted the Dead Cat Bounce, LOL
Putting in a stop-loss order on BSC Friday near $30 share would not have helped, and this shows one of the weaknesses of stop loss orders. The stock opened near $3 on Monday, a gap down. Shareholders really got creamed here. Only the purchase of puts would have helped, but at the time, they looked expensive.