Brooklyn Federal Bancorp Inc. (BFSB)

[Roy London]

they probably want this under a buck soon

[ijeffc]

yes it's a small float -- but that was crazy and not right.

[ListenToMe]

SUPER - SHAKE?!!!!



.

[New Waters]

Small float moves fast, stops get taken quickly....

[ijeffc]

What Bullsh%t they took it down 10cents on around 700 shares. BS

[ijeffc]

What Bullsh%t they took it dow 10cents on around 700 shares. BS

[New Waters]

Taking out stops & adjusting chart...

Cheers!

[Roy London]

bears in charge still needs a 50 day hold @ 1.37

[New Waters]

GFSB, tiny float; mega insider holdings...

Share Statistics
Avg Vol (3 month)3: 23,532
Avg Vol (10 day)3: 91,111
Shares Outstanding5: 12.89M
Float: 3.01M
% Held by Insiders6: 75.48%
% Held by Institutions6: 11.00%

[New Waters]

;) http://online.wsj.com/article/SB10001424052748703675904576063852045473950.html

[56Chevy]

FYI- Brooklyn Federal Savings Bank is distressed and under OTS supervisory as of Sept. 28th 2010 until 2013.

#522 Brooklyn Federal Savings Bank Brooklyn NY

Total Assets (000s) $495,132
NPA/ Assets 17.63
Equity/ Assets 9.75
Tier 1 Leverage Ratio 9.49
Tier 1 Risk-based Ratio 10.95
Total Risk-based Ratio 12.51
Texas Ratio 122.41
Effective Equity/ Assets 5.30
Effective Tier 1 Leverage Ratio 5.02

It's in the top 675 troubled banks in the US. Rated in Nov. 2010 as # 522.

[ListenToMe]

Shake-out in effect...THEN to $2.00 and beyond if you ask me!!!!
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[k9painter]

bids stacking

[New Waters]

Grabbed a few more 1.41 ... TIC-TOC!

[ListenToMe]

Don't worry I'm sure there will be many more joining us!!!



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[k9painter]

all seven of us have really provided a bunch of buying today LOL

[ListenToMe]

7 followers

[ListenToMe]

Look out above!!

[ListenToMe]

$1.48 X $1.54 Now!


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[ListenToMe]

$2.00 BUCKS on the horizon!!!!



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[New Waters]

BFSB moving on up ...

weekly

[Talc Moan]

BFSB looking great

Smitter SMTT

[ListenToMe]

$1.50 and climbing

[Soapy Bubbles]

Just touched 10%.

[Soapy Bubbles]

My guess: I am guessing we'll see a change in management. (I really don't know -- just throwing a stone into the dark on this one.)

Now for the shameless pump: Go BFSB! :D

[ListenToMe]

Seems like everyone is making valid points here. Let's see what happens this week as the bank stocks become more in focus.


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[maddogs]

Would seem to me, if the company is not involved in the process, they certainly should get a handle on it, perhaps some change in the cusip, or find a merge partner. Having 5oo mill in different asset allocations and a 3 mill o/s leaves them vunerable to hosile intentions imo. The inside positions only are usefull in preventing a hostile takeover, not from having a raider excluded from becoming a major holder o/s.. and wanting to sell off the assets.

[maddogs]

I believe acounting firms seperate on disagreements issues, and I think accounting firms and FASB standards are so screwed up that any valuations on anything to do with "secutities" are best measured in current market and markets at the street level. Meaning daily fluctuations all as seen by the holders and accounting firms must go by quarters not dailys. This seems to be the basis on disagreement in this case. Thus, an accounting firm is allways behind on the curve. The last months employ reports are a great example of leading trends that were, by me anyway, unexpected. What does that mean to a "regional/local Bank"? Do they see a leveling that is happenning during a Quarter or even two, that should be representative of a turn, that the Acct. firm cannot take as FASB prevents such. We remember the MARK to MARKET changes, back and forth, in 2009, that without which, above 8500 on the DOW would not have been possible.

Just saying the markets are possibly at another step point where current FASB accounting could be positively "accounted" for should 250K "new jobs private" start becoming the rule instead of the exception. This "Employ", would definitly hit the bottom line for the regionals and selling off certain assets below, what street level Banks think they can get for them in one quarter+, or value at, is what I believe this accounting issue is about.

Fasb does not allow for the future, only the past. Where as the company could be wrong, being they have street level observation going back 100 years for their market, maybe they're right.

[lowman]

Wierd. Friday night, it showed all the late night T-Trades. T-trades disappeared on Saturday. Now they're showing again (BFSB AH .0001, -1.3399)

What up with that?

[k9painter]

perfect short opp when a bigtime accounting firm dumps you. simply looking at the 10k and the numbers says this should be much higher and maybe a short cover as well, maybe worth a lotto ticket here

[maddogs]

Looking at that days chart in minute basis extended(till 7p.m.) chart reflects many fewer shares traded for the day than a daily(now) chart shows. Probably representative of Fridays action(after 7.p.m.) action where some entity is moving shares and not noticed by most people, due to charting limitations for most people.

There seems to be a shorter in the stock, institution or not and in small increments(perhaps matching the small o/s) Happens in the "thinly traded" as we know. If the company presses some interest in this one via some communicae positive, shorters could get badly burned. So much of the short manip in todays market counts on nothing coming from the company when they are in "stress".

As a model... the New York market for the subsector this company represents, is coming back, slowly as the rest of the Banking sector, and property values on the "Island", short of rising sea levels, lol, will always get a premium for New York at some point.

[Soapy Bubbles]

Yeah, that doesn't make sense to me w/ the chart. Also, why the recent dip? I even looked up institutional selling and couldn't find any.

Eh, looks like lotto if it can hold volume.

[k9painter]

75% insider ownership is crazy with this ss. this would fly with any volume imo

[k9painter]

i agree, i was stating the wording in the 10k didnt look good, sounds a little suspicious is all. assets look like they are in tact, so why would it get crushed so hard?? maybe its been shorted down and now it is time to cover, would be a great spot from here imo

[ListenToMe]

I agree lowman!

[ListenToMe]

2011 will be the year for the Banks!

[lowman]

Revenue/profits don't need to look good. Just the understanding of the core assets far more than justifies the current marketcap.

[Soapy Bubbles]

http://finviz.com/quote.ashx?t=bfsb&ty=c&ta=1&p=d

[k9painter]

the problem i see is its not very liquid unless a buyout is in the works, which might say something to the volume???

[Superfly15]

May be worth booking free shares if one is a speculator, I tried to daytrade it a couple of weeks ago but I just did not feel comfortable holding this one overnight. Something isn't right.

[k9painter]

identical volume spike in june and then nothing

[k9painter]

the most recent 10k makes it sound like they have the accounting issue resolved, they just need a new accountant LOL

[Superfly15]

It's a lotto play at best, their last earnings report is delayed due to financial issues.

Their auditor (Grant Thornton) just ran at the end of 2010 as well, and by looking at the stock price during the financial crisis it remained extremely stable, and they even raised dividends during that time. That is unheard of for a bank the past few years, especially a regional bank. Then all of a sudden the share price caves in within a matter of months, the balance sheet goes to hell, and the auditor resigns.

http://biz.yahoo.com/e/101223/bfsb8-k.html


That 8k filing SCREAMS fraud to me, or at least something that definitely needs to be looked into. Perhaps they have a big client that defaulted on their loan, idk I need to do more research, but the bank can technically be seized anyday...don't put any more in for a trade/investment than you are willing to wake up the next morning without.

[k9painter]

the latest 10k doesnt look to good, wonder what is going on here with all of the volume??

[lowman]

Bankstocks been doin' good lately, and judging by the volume and weird action yesterday, I'd say this ones ready to run in the next few days.

[Sepe]

Wow man! I used to live in Nassau County. Does this bank even operate? I admit I have done no DD as I am scared off by the sudden drop but it could be a good buying opportunity. No risk no reward. I actually have all my eggs in one basket right now. Good Luck to you!

[ListenToMe]

I should have some info later today or tomorrow the latest.

[ListenToMe]

I'll do more dd to see what I can find out.

[ListenToMe]

no recent news to cause volatility

[ListenToMe]

I've had this one on my radar for a bit.