so was ENE, WCOM, DYN, etc... a buy at $2.84? Unless you plan on buying it hoping for a bounce and a quick trade, I would stay away from it. It's trading under $3 for a reason. Rule number one: never catch a falling knife.
I don't have the stomach for the risk with Providian or WCOM. QWEST might be a buy at $3.00. WCOM is .19 - will it recover? I am out of equities when the dow was 8900. Glad I switched. dogman
I put $500 on pvn at $2.57..I don't have tons of money but if i can double the 500 i will be happy..,And i think it will happent too.
Honestly I think we'll see a rebound of all companies who certify their books by August 14th like the administrations is asking. I think PVN is one of the companies being asked to certify. With all of their disclosures these last months I think it's a pretty good bet they'll certify and you'll see a dramatic uptick in their stock price. If you buy in the mid-twos I think you'll be a happy camper.
I think "D-Day" for Providian will be on 7/30 when they report there earnings. If that default rate is still double digits, I think there is a real question of there ability to survive.
I have made 12% so far today..Keep going up pvn..I think this stock will be back up to $6-7 in August
Providian Gold Card was my wifes first card..We have had it for 48 months now and is still open with a $6400.00 limit and intrest is at 16.99%./...I just keep it open because it is the oldest trade line.,However that annual fee is due and they waived it last year..So should we keep this open or close it if they want the $$..Or i could always just pay them with the $$ i made from there stock today..Gain of 16.60% = $64.45
You have got to be kidding me..40% that is alot! Well when i won at foxwoods they took like 30%..I guess H&R Blook will be getting extra's this year
Capital gains taxes are less if you hold the stock for a year...that's why day trading with broker fees and taxes is ridiculous (IMO). -Peace, Dave
QWEST is supposed to be the next telco to file BK 11. Rule number two: Never bye a stock that triads under $10. If you want to gamble purchase options either for (call) on DIA or against (PUT) QQQ.
For short term gains (less than one year) you should be taxed at what you are for your federal tax bracket, which is based on your income....somewhere between 15% and 40%. You just add the amount of gain to your tax returns as part of your total income. Capital gains are only taxable federally, not with your state.
ON A SIDE NOTE...QWEST and MCI CAN'T GO OUT OF BUSINESS...so the local DENVER news said...(the US GOVERNMENT WON'T LET THEM...they could be sold or given to another company...BUT not just go out of business)... QWEST is my local...I DUMPED MCI for VERIZON months ago...
Ch 11 BK allows a company to continue to operate. It just means that the common stock becomes worthless and the company can negotiate with the bankruptcy court on the preferred stock, bonds, and other debt.
Well it looks like i get to keep my $$ and don't have to pay that anual fee..They sent me an Upgrade to the Platinum Card w/no fee and a 25 grace period and the rate is 11.99% instead of 16.99%..So providian is doing Good 4 me...It's just to damn bad i sold Friday!
