Seeking Alpha
  • Ocean Man
    Shorted $PBI at $14.18. Cut the divvy by 50% yesterday, I don't think the drop is done after rising 50% YTD.
    5/1/13
    Reply (8)
    • Ashraf Eassa: Interesting trade.
      5/1/13
    • Chines33: I agree. No position currently but looking to short
      5/1/13
    • Renmycat!: u think a divvie cut was priced into the stock? bad earnings and outlook were more of the reason for drop?
      5/1/13
    • Ocean Man: I think most of the people in this stock were in it for the divvy. Most high-yielders fall for months after a dividend cut.
      5/1/13
    • Renmycat!: agreed, i tried to catch the falling knife "Enerplus" after its divvy cut, i got smoked, still havent quite recovered on the way back up
      5/1/13
    • Ashraf Eassa: Doubling down on this trade? Would appreciate your view on the latest development.
      5/3/13
    • Ocean Man: Probably. Watching the market side by side with PBI for the right moment. Glad I didn't yesterday :)
      5/3/13
    • Ashraf Eassa: Indeed. Let us know what your next move is. Very interested in this one. Thanks, OM.
      5/3/13