StJoe (JOE) Shocks-takes charge, exits Florida bldg.

[Pirate]

JOE up 10% with a huge climb at approx. 1:00 EST...

Any thoughts???

http://www.marketwatch.com/tools/quotes/quotes.asp?symb=JOE&siteid=mktw

Many stocks find support while seeking the bottom. It took all of 3 days last week for the stock to drop 10%. Nothing currently looks good about this company. Are we talking about an investment or a dice roll with the houses' dice? Why not just go to Vegas and take in a show while thrillseeking?

 

[goofer]

The move in JOE today is definitely NOT a short squeeze. The stock gapped to 55 in less than 30 minutes this afternoon. There has to be a rumor floating in the mkt place of a takeout or a private equity investor .

 

[goofer]

The premiums in the oct 55 calls is big. with the stock at 53 the calls are trading at 2.30 !! almost a 60% premium.....that is HUGE. definitely rumors floating in JOE.

 

[destinsm]

The move in JOE today is definitely NOT a short squeeze. The stock gapped to 55 in less than 30 minutes this afternoon. There has to be a rumor floating in the mkt place of a takeout or a private equity investor .

Can't get to the article because I won't sign up... but thought I would post this anyway if somebody else may find it interesting...

If we are to believe the analysts at RealMoney, looks like Shelley was on the money...

1:53pm 09/11/06

$ St. Joe Surges on Short Squeeze - [at RealMoney by TheStreet.com]

 

[SHELLY]

The premiums in the oct 55 calls is big. with the stock at 53 the calls are trading at 2.30 !! almost a 60% premium.....that is HUGE. definitely rumors floating in JOE.

Have you changed your mind about being a fan of calls?

 

[goofer]

Shelly, You must know that I sold oct 55's against 1/2 my position ;-) . Why else would I have brought it up. ;-) This is PRECISELY the situation that you sell premium. The probability is that nothing will happen as far as takeover is concerned, so JOE will dribble back down to 50. Selling premium like this reduces your cost and gives you some premium income. I take in premium on half my position and ride the rest exposed. My plan will be to cover the calls I am short by the 3rd Friday in October or let them expire worthless. Either way if lightening strikes I will still be long on 1/2 my position and the other 1/2 I will sell at a print of 57.50.

 

[SHELLY]

The move in JOE today is definitely NOT a short squeeze. The stock gapped to 55 in less than 30 minutes this afternoon. There has to be a rumor floating in the mkt place of a takeout or a private equity investor .

This one is for you Goofer: St JOE sales hot as Real Estate Chills
;-)

 

[Bob]

Listen.....the stock hounds are all baying in unison!!!!!!! Shelly, When you point the finger at speculators, make sure you are looking in the mirror.

 

[redfisher]

I love it...Go JOE...Wait, they've got to be doin something crooked...

 

[Babyblue]

JOE has been getting rid of its excess baggage over the past couple of quarters. It wouldn't surprise me to see JOE run itself into the ground to make it an attractive <read: cheap> target for a private equity buyout--that will probably happen in a about....in about....<shaking Magic 8-Ball> it says..."Ask Again Later"

Wait, Wait....What about oil. We are running out of oil. Has every one forgotten about that?