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JJB Sports (LSE:JJB) shares have just been suspended. Administrators have been appointed and the company says that while assets can, and will, be sold shareholders will get nothing. Nil. Rien. Zippo. Surely everyone can understand that?
I warned here several times ( 6th Sept and 17th Sept) that this would happen and that a) if you held shares you should sell for whatever you could get and b) if you could open a short this was a slam dunk 100% win.
Still some BB loons insisted that I had it all wrong. As recently as 18th September prize poltroon Bob (who plagues everything I write with inaccurate and dumb posts) boasted about he had gone long after my prior sell warning:
Most people buying/selling JJB at these levels are probably traders not investors. Yes, I locked in my profits on the way up though not quite at 100% unfortunately, as I reported on advfn at the time. But I was well pleased with my short term reward. Ultimately they may well go under but meanwhile there are profits/losses to be made along the way.
I can only hope that Bob was “trading” with a long position over the weekend. If a company is bust then eventually the shares will go to 0p. JJB admitted its equity was worthless. Yes you can trade in and out as the last rites are read and you may get lucky. But you never know when the fat lady will sing for the last time. And if you happen to be long at that point you lose the lot.
I shall put this down as a 100% win for me in 19 days. I await Bob’s praise for that call.
If Bob made “not quite 100%” then he would have had to sell on Sep 13. Not any other day, just Sep 13. People did sell on that day and Bob may have been one of them and he may have bought for less than 30p for all I know. What I do know is that most who bought in after Tom’s warning will have lost money. All of it. Ann, you may choose to think that Bob successfully swam against the tide using his trading skills. Me? I know that if he did make money going long on a stock which its own management thought was worthless, he got lucky.
Mark
I did not sell on Sep 13 but did buy before Tom’s piece. I paid 0.25p. Personally I think that many that bought around .32p when Tom wrote his piece would have been traders and taken profits between then and the .62-64p they reached afterwards but who knows? Judging by advfn they did.
Either way Tom was right about the eventual outcome as was made clear by the company prior to his piece but so too were those that traded the share and were not greedy. As I said at the time “Ultimately they may go under”.
As regards his comments that he hoped I was ‘long’ over the weekend sadly for him I was not, however it does highlight the fact that he remains a spiteful little man whose own downfall seems to have worsened his attitude to anyone who opposes his views.
I look forward to some of his reviews of past failures and hope he includes Rivington.
Ann
Thank you.
Perhaps we should list TW’s list of failures here over the last few years….is there enough space to do so? Cannot believe he is preaching to others.
Now I’m really confused Bob, stock was not available at 25p prior to Tom’s piece. There were only 3 days when one could have bought at 25p prior to the spike, Sep 7,10 & 11. You would have to sell on only one day, Sep 13 to realise the sort of profits you’re talking about.
I’ve no doubt that there are traders who have done just this. What I do know is that they’ll be in a tiny minority. It would seem from what you say that a large number of those subscribe to ADVFN.
Mark
From memory I bought around the 7th and sold about a week later in 3 lots at various prices between 0.37 and 0.5. I will check my contracts. To be fair I use a phone broker who’s prices often bear little resemblance to screen prices in volatile stocks. I can only go by comments by other traders on advfn as to what level they dealt.
Thanks Bob, no need to go through all that.
If all these traders can turn a profit swimming against the tide, I wonder how much they’d make going with the flow? They’d all be multi-millionaires in less than a year.
And puff goes ‘Bob’s’ credibility.
Looks like the math’s are difficult for teacher’s pet. lol
No, it’s the believing the obvious lies that is difficult.