October 16, 2008 at 11:38 AM
Posted by Thomas Catino
A sampling of stocks (just a few of many) that have been washed out over the past few days, with losses extended and selling pressure exacerbated by senior executives who have received margin calls that have forced them to sell most, if not all, of their personal stake in the company. The list represents a decent collection of swing trade candidates.
*Note that Life Time Fitness CEO Bahram Akradi was forced to sell 582,000 shares, or 13% of his holdings. Be careful, however, because things could get worse. Approximately 3.5 million shares of Akradi’s stock remain subject to pledges under margin loans.
Sources: WSJ, AP and Morningstar
what about CHK will they servive and the stock bounce back? I dont believe anything that they are saying about the company. It has such big swings, should we get out already lost alot or stoay in awhile?
We apologize for the formatting issues with the table, we'll try and fix that soon.
As for Chesapeake, the situation is extremely fluid but there are a few things that should inspire some short term confidence: the company did announce that it is cutting spending and targeting asset sales, expecting cash proceeds of $2.5-$3 billion in the fourth quarter and today's news that it secured a new revolving bank credit facility up to $750 million is reassuring after recent liquidity concerns.
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