3SOF

annual meeting:
http://biz.yahoo.com/prnews/050622/dcw045.html?.v=13

not much info from the news , is it positive or negative?
i noticed there were over 4 million shares traded during 1:45-2:45 est.
something going on?

Well, considering market action, it sure looks like it. Read this interesting article on the subject:

Independence Air Gets Reprieve

The highlights:

1) «In return, Independence will receive a $31.2 million refund from Airbus. Airbus also will let Independence put off $11.5 million in other payments scheduled for the rest of this year, and the carrier has canceled $16.5 million in debt it had issued to finance some of its airplane payments.»

2) «The skyward march of fuel prices is showing no signs of stopping, confounding airlines. Crude oil futures hit new highs above $65 Thursday after logging another record close Wednesday.

Independence has been burning through cash, ending the second quarter with only $66 million in unrestricted funds. The quarter's loss of $98.5 million, or $2.01 a share, was significantly higher than the Wall Street forecast for a loss of $1.24 a share.

In a quarterly filing this week, the company offered a dire forecast, saying its cash wouldn't cover obligations for the rest of the year and it might have to file for bankruptcy protection. »

The market cap now is just $18.17M, so anyone wants an airline? They have $66M in unrestricted funds.

This is just too much of a falling knife for me to consider, these guys may file for bankruptcy anytime, a time where it would probably be a good idea to buy some shares ! 

If anyone wants, please warn me if FLYI files for chapter 11, I want to buy the stock then, but just then ...

David,

WOW , I looked back at FLYI today and it is now at 2 cents, that's .02 .. Guess they have had some trouble over the last few months. Glad I got out in the mid .90's

2 cents and a "Q" at the end of their ticker. What a disaster! That's life on the OTC though.

LukeQ

I bought after BK at $.02...I expect a runup in price tomorrow ( currently $.028) based on unfounded faith in a buyer of the airline/news release after 5PM today...I will sell on the tempoary runup at a nice profit tmorrow???

Quote from: stout7735 on December 05, 2005, 06:32:44 PM
I bought after BK at $.02...I expect a runup in price tomorrow ( currently $.028) based on unfounded faith in a buyer of the airline/news release after 5PM today...I will sell on the tempoary runup at a nice profit tmorrow???

Moving up today...

Quote from: stout7735 on December 05, 2005, 06:32:44 PM
I bought after BK at $.02...I expect a runup in price tomorrow ( currently $.028) based on unfounded faith in a buyer of the airline/news release after 5PM today...I will sell on the tempoary runup at a nice profit tmorrow???

Sold at nice profit today...Closed at $.054...Did anyone listen to me?

I have got in at around $0.02 around mid Nov., but only with $200. I wasn't going to bet the whole farm  It is a nice gain so far but I waiting for more news.

What do you think?

P.S: Have you tried flying them? It was nice and cheap for $40 to FL one way, cheaper than the my cab ride to the hotel  What a bargin

Quote from: ASR831 on December 07, 2005, 09:51:59 PM
I have got in at around $0.02 around mid Nov., but only with $200. I wasn't going to bet the whole farm It is a nice gain so far but I waiting for more news.

What do you think?

P.S: Have you tried flying them? It was nice and cheap for $40 to FL one way, cheaper than the my cab ride to the hotel What a bargin

Don't be greedy...There is no news of saving the stockholders...This is a bankruptcy trade....Sell!!!!
P.S. Never flew this airline,but flew same aircraft type with Mesa Air recently...A little cramped...

Quote from: David Randolph on May 06, 2005, 04:31:45 AM
The stock failed to take off and slumped. My initial plan was:

«So, this trade will be fast. I'll buy at the open tomorrow and if close<1.04=> SELL. If close>1.04=> HOLD»

So I had to sell FLYI at the close, price $0.83. That resistance at $1.04 knocked the stock. Bad pick, bad trade. Admit the mistake, correct it by selling the stock and move on. The market will always be there and preservation of capital is the first goal of any trader.

 

That's right david if you did not get out, or no plan at all or don't want to cut losses... or worse, thinking that FLYI may come up someday to get even, i don't think so .. it should have been 95% loss

Changed Ticker Symbol.......
FLYI is no longer valid. It has changed to "FLYIQ"

Invalid Ticker Symbol.......
FLYIQ is not a valid ticker symbol. 


The FLYI/FLYIQ Threads in Previous 3SOF Picks
Have been merged.
Got the go ahead to do so from Ramsburg.
I will be working here on this board to merge other threads also.

I believe this company was bought out ,there is no chart to find on these ticker symbols !

Good trading to all !   

Regards,
Your fellow trader @3SOF
setravis