7/4/2011 (Huge Loser on Sunday)
Monday, July 4, 2011 at 5:12AM Baglife Corp (NYSE: BAG) took a massive hit on Sunday after ending a 7.5 hour session -$935 edging dangerously close to the stop loss limit of -1k. Just as the momentum seemed to be building another giant step-back.
Investors are somewhat terrified, many downgrading Baglife Corp (BAG) to a sell at the moment. Fortunately Friday’s modest gains have minimized the disaster, but the corporation seems to be stumbling out of the gates already down a buy-in during the first 24 operational hours of July.
The CEO responded: “It’s been another unreal wave of card and situation dead. However, we are confident as always that our fundamentals and core values will ultimately pull us through this. The down-spike was a natural fluctuation from the norm.”
It certainly didn’t help that the best starting hand received on Sunday was JJ in 8 hours. Again no sets, etc, etc. Some critics questioned a buy-in shipped on a maniac table with AKs pre-flop. The game was 2-5 and all the players had agreed to blind bet $10 blind UTG each hand. Action: one caller, mega-fish raises to $75, a loose casual player calls, action on the Baglife. After not re-raising a hand for literally 3 hours, Baglife decides to shove all-in here $470 effective. Mega-fish tank-folds. The causal player then calls $400 more and holds with JJ.
Baglife later explained: “The frustrating result is somewhat irrelevant. With the mega-fish raising to $70 pre-flop with hands like 89o this is a seemingly aggressive, but standard ship here. The dead money in the pot is already around $200. The casual player’s initial call range here is pretty wide and we have a large amount of fold equity, especially since we haven’t raised a hand in 3 hours. Even if he makes a hero call here we are flipping or possibly have him crushed. I was a little surprised to see him show up with JJ here because he 3-bet JJ earlier to $150 pre-flop. Was expecting him to have a range consisting of 22-TT, KQ, AJo+. Obviously in the current environment he’s never folding the JJ and holding 100% because we run like shit. Regardless, we never fear getting it in there. If he folds which he should be over 70% of the time we are only down -$300 on the night. If he calls and we win the flip we don’t even finish down on the night.”
When asked how the corporation planned to deal with the loss in the days going forward Baglife responded: “Well I think the ability to stay focused and ‘bounce back’ is crucial in the current environment. We plan to slash volume temporarily where feasible to regroup. The 4th day of grinding straight can begin to take it’s toll even if the particular day ends in gain. Tomorrow we might throw in a 4 hour session or so, but nothing crazy. Monday-Wednesday will be good days to mix in a lot of research.”
The company seems in decent spirits despite the bearish skid.
Reader Comments (1)
Super standard ship with AKs there. Sorry for the bad results over the weekend but the concept you used for this post was great. I'll be waiting for the official Q3 results before making any decisions.