20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Related: ,a href="http://www.benzinga.com/news/13/12/4176980/jos-a-banks-turns-down-acquisition-offer-from-mens-wearhouse">Jos. A Banks Turns Down Acquisition Offer from Men's Wearhouse
On January 3, Jos. A. Bank said that it strengthened its acquisition-defense plan, or “poison pill”, to a 10 percent threshold. If Men's Wearhouse buys more than 10 percent of Jos. A. Bank, it will issue new, cheaper shares to dilute Men's Wearhouse's stake.The five largest shareholders of Jos. A. Bank have been vocal in their desires to see the company move forward with a merger. The largest of the five shareholders is Eminence Capital, which owns 9.87 percent of Men's Wearhouse as of January 13 and initially supported Jos. A. Bank's $2.49 billion offer to acquire Men's Wearhouse.“If one reviews the behavior of Men's Wearhouse since it first received Jos. A. Bank's proposal in October 2013, we think there are real questions about whether your Board, together with your largest stockholder, the hedge fund Eminence Capital, are pursuing an acquisition of Jos. A. Bank for reasons that are very different from what is in the interests of our stockholders,” said Jos. A. Bank's letter to Ewert.“The facts raise questions about whether your directors and management made the offer for Jos. A. Bank in order to avoid a proxy fight by Eminence that, if successful, threatened the Board's status and management's jobs. When Men's Wearhouse rejected our acquisition proposal, Eminence threatened to wage a proxy fight against Men's Wearhouse. Facing this pressure, Men's Wearhouse did an abrupt about face and launched its offer for Jos. A. Bank. Then, shortly after Men's Wearhouse made its offer, Eminence dropped its proxy fight threat against Men's Wearhouse's directors.”“When Eminence now says it supports Men's Wearhouse's offer, we wonder whether its principal concern is the serious damage it could suffer to its own business and reputation if it loses money on its risky investment in Men's Wearhouse shares.”20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!