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"Firemandave and friends stock picks" (my new free board)
Not trying to kill this board only created a new place to keep in touch with you folks who I truly value your friendships and trading skills. Please come over and boardmark it and say hello.
OK, Maybe I changed my mind now! LOL
http://finance.yahoo.com/news/Government-giving-GMAC-75B-in-apf-15323366.html?.v=15
I totally agree with you on not betting the farm and watching what happens, little rumors here and there are never correct, hell, look at the cover-up from the government, regarding the housing crisis.....I also, agree with you that it will be one of the best Q stocks out there.
True no proof just biased rulings on penny stock boards for deletions,mod and asst mod appt's,etc etc etc.
I received the details - and I think GM was threatening a worst case scenario with the 60 billion additional common shares and the 100:1 Reverse Split that is to follow.
I think people are now assuming its a bluff.
I on the other hand am waiting - not a bad day trade - wouldn't want to be heavily vested when they halt trading and the symbol changes to GMQ
GMQ will be the best Q stock of all time - once the price gets right.
Well it's always good when you make a profit. I can't believe it's still moving.
Unfortunately I sold for a profit - but should of held!
Something is going on there!
Indictments already came out on these IHUB members.
http://www.usdoj.gov/usao/de/press/2009/Pump%20&%20Dump%20Stock%20Schemes%20Indictments.pdf
Bye Dave. The hooked me in the Ass before I could stop the auto enlist option. Sucks.
You don't really have proof - just shared suspicions with the federal government. Unlike the federal government, though, you are free to base your decision on feelings and not presume ANYONE innocent until PROVEN guilty.
DAVE LEAVING AS HEAD MODERATOR HERE (READ FURTHER)
I cannot support a website that I now have proof of what I have always suspected. The principal of it will not let me continue on as a paying member. I will continue on as a free member and post on SSS and maybe even create a free board (why not seems offtopic runs amuck on all of the other free stock trading boards) I will be putting Hotsauce back as head moderator as he helped me create this board and took it over the last time I got pissed at penny stocks LOL.
Nice board marked it and left a comment.
We are repressed Bible belt and all LOL.
Dave,
What's with Florida and their laws?
http://www.mosnews.com/weird/2009/05/18/porcupine/
Dave check this board out. SEC Charges Eight Participants in Penny Stock Manipulation Ring
http://investorshub.advfn.com/boards/board.aspx?board_id=15452
Yep, and then back in FAZ in the 4's for another trip to the 5's - this is kinda like riding the rides at Universal, get on the one with the short line at the time, then have the time of your life! I have found the key is to not feel pressured to get in just because you JUST got out of the other one. It's OK to watch them both for a couple of days, IMO.
We should be able to ride it to above 10$ again with any luck :)
Looks like we were smart today - FAS 9.15 in AH already!
Rock on buddy! I think I'm just gonna continue the FAZ/FAS shuffle seems to be working for me.
I'm back on the FAS bandwagon as well!! Got out of FAZ again today with a decent little gain (4.84 to 5.66). I got in FAS right where you did, so let's cheer them together!!! Rah, Rah, Rass!
I expect the market to be green tomorrow with shorts covering for the long weekend - and the government manipulation and all!
This is going in the sticky notes....
Dunno after today's action I sold off BKUNA for even and bought FAS at 8.71$ so far looks like a good move (I can't babysit stocks this week worked at radiology place today and going there tommorrow also ARGH)
CRGN closed HOD!!
Look.. SEC Charges Eight Participants in Penny Stock Manipulation Ring
http://www.sec.gov/news/press/2009/2009-117.htm
Washington, D.C., May 21, 2009 — The Securities and Exchange Commission has charged eight participants in a penny stock manipulation ring that allegedly pumped the market prices of at least four stocks and generated more than $6.2 million in illicit profits when they dumped shares on the market.
The SEC alleges that Pawel Dynkowski, who resided in Newark, Del., carried out the market manipulation schemes with others he met through a penny stock web site InvestorsHub.com, which is operated by Matthew Brown of Aliso Viejo, Calif. Dynkowski, Brown, and other participants in the schemes often timed the manipulative trading to coincide with false or misleading press releases issued by the companies to hype the stock. The four companies were GH3 International, Inc., Asia Global Holdings, Inc., Playstar Corp., and Xtreme Motorsports of California, Inc.
“As we allege in our complaint, Dynkowski and his accomplices around the country met through the Internet and together spun a web of deception that gave investors the false impression that there was a real demand for these stocks,” said Scott Friestad, Deputy Director of the SEC’s Division of Enforcement. “Dynkowski went so far as to himself write some of the misleading press releases that pumped these penny stocks so they could line their own pockets with millions of dollars.”
The SEC’s complaint, filed in federal district court in Delaware, charges six others in addition to Dynkowski and Brown:
Jacob Canceli of Mission Viejo, Calif., who is a stock promoter.
Gerard J. D’Amaro of Pompano Beach, Fla., who is a stock promoter.
Joseph Mangiapane Jr. of Laguna Niguel, Calif, who was a registered representative at AIS Financial, Inc and is currently CEO of Rubicon Financial, Inc., which owned AIS Financial, Inc. during the relevant time period.
Nathan M. Michaud of Boston, Mass., who is a web site designer.
Marc J. Riviello of Redwood City, Calif., who was a registered representative at AIS Financial, Inc.
Adam S. Rosengard of Voorhees, N.J., who was a student at the University of Delaware during the relevant time period.
According to the SEC’s complaint, these fraudulent schemes generally followed the same pattern. In 2006 and 2007, Dynkowski and his accomplices received large blocks of shares to sell for the penny stock companies, and they received a portion of the proceeds from those sales. The companies put these shares in nominee accounts that Dynkowski and his accomplices controlled. The defendants pumped the market price of the stocks using wash sales, matched orders and other manipulative trading. After artificially inflating the market price of the stocks, Dynkowski and his accomplices then dumped the shares obtained from the issuers and divided the illicit proceeds.
For example, in the scheme involving Asia Global stock, the SEC alleges that Dynkowski personally saw to it that the manipulative trading was coordinated with misleading press releases from the company, and in some instances he wrote the press releases for Asia Global himself. According to the SEC’s complaint, Dynkowski instructed Brown on Aug. 24, 2006, to have Asia Global issue a press release hyping the company’s second quarter 2006 financial results and to “make it sound ENORMOUS.” On September 1, Asia Global issued a press release claiming that its profits for July 2006 were 745 percent greater than its profits for July 2005. Meanwhile, during that same week, Dynkowski and Brown sold 7.75 million shares from nominee accounts, resulting in illicit profits of more than $1.3 million.
Furthermore, according to the SEC’s complaint, Asia Global issued a press release on Feb. 6, 2007, claiming that its subsidiary had just received a license to produce 104 episodes of “Who Wants to Be a Millionaire” in China. The volume of trading in Asia Global increased by more than 65 percent, and Dynkowski and Brown, through orders submitted to Mangiapane and Riviello, were able to sell approximately 5.5 million shares held in nominee accounts, representing approximately 25 percent of the total volume that day. From February 2 through February 8, Dynkowski and Brown, through orders submitted to Mangiapane and Riviello, sold approximately 24.5 million shares held in nominee accounts, making illegal profits of more than $1.2 million.
The SEC’s complaint alleges violations of the antifraud, registration, and other provisions of the federal securities laws. The complaint seeks to have the court permanently enjoin each defendant from future violations, require disgorgement of ill-gotten gains with prejudgment interest, and impose financial penalties. Additionally, the Commission seeks to have certain defendants barred from participating in penny stock offerings.
The U.S. Attorney’s Office for the District of Delaware also today announced felony criminal charges against Dynkowski, Brown, Canceli, D’Amaro, Mangiapane, and Riviello.
The SEC thanks the U.S. Attorney’s Office for the District of Delaware; the Department of Homeland Security, Immigration and Customs Enforcement; the Internal Revenue Service – Criminal Investigations; and the Delaware State Police for their assistance in this matter.
The SEC’s investigation is continuing.
wow!! SEC explains Matt's involvement:
For example, in the scheme involving Asia Global stock, the SEC alleges that Dynkowski personally saw to it that the manipulative trading was coordinated with misleading press releases from the company, and in some instances he wrote the press releases for Asia Global himself. According to the SEC’s complaint, Dynkowski instructed Brown on Aug. 24, 2006, to have Asia Global issue a press release hyping the company’s second quarter 2006 financial results and to “make it sound ENORMOUS.” On September 1, Asia Global issued a press release claiming that its profits for July 2006 were 745 percent greater than its profits for July 2005. Meanwhile, during that same week, Dynkowski and Brown sold 7.75 million shares from nominee accounts, resulting in illicit profits of more than $1.3 million.
Furthermore, according to the SEC’s complaint, Asia Global issued a press release on Feb. 6, 2007, claiming that its subsidiary had just received a license to produce 104 episodes of “Who Wants to Be a Millionaire” in China. The volume of trading in Asia Global increased by more than 65 percent, and Dynkowski and Brown, through orders submitted to Mangiapane and Riviello, were able to sell approximately 5.5 million shares held in nominee accounts, representing approximately 25 percent of the total volume that day. From February 2 through February 8, Dynkowski and Brown, through orders submitted to Mangiapane and Riviello, sold approximately 24.5 million shares held in nominee accounts, making illegal profits of more than $1.2 million.
The SEC’s complaint alleges violations of the antifraud, registration, and other provisions of the federal securities laws. The complaint seeks to have the court permanently enjoin each defendant from future violations, require disgorgement of ill-gotten gains with prejudgment interest, and impose financial penalties. Additionally, the Commission seeks to have certain defendants barred from participating in penny stock offerings.
http://sec.gov/news/press/2009/2009-117.htm
I would get at LEAST 2 a week - and I'm bald!
CRGN every penny 60 bucks, I hate watching a stock this close.
BKUNA isn't going into receivership, is it?
Ratings agency downgrades outlook for UK economy
• Government debt burden 'may approach 100% of GDP'
• 'One-in-three chance' that Britain's credit rating may be cut
• FTSE 100 fell more than 2%; sterling falls to $1.55
Chancellor Alistair Darling announced hugely increased government borrowing projections in last month's budget. Photograph: Reuters
Ratings agency Standard & Poor's today downgraded its outlook for the British economy, saying it had grown increasingly worried about the country's ballooning budget deficit. It also warned there was a "one-in-three chance" that Britain's credit rating may be cut.
The surprise news pushed shares in London down sharply and caused gilt yields to soar on renewed fears about the recession-hit UK economy. The FTSE 100 at one point tumbled more than 2%, or 100 points, to 4352. Sterling, which had reached a six-month high of $1.58 earlier, fell three cents to $1.5530.
S&P's move caught most City experts on the hop. "This is exactly what the UK really did not need," said Manus Cranny, senior market commentator of MF Global Spreads. "The Treasury will now be hamstrung as its delicate attempts to flood the market with gilts to fund the deficit could literally be in tatters if S&P is followed by other agencies."
Colin Ellis, European economist at Daiwa Securities SMBC, said that with the "cherished" triple-A rating now under threat, the S&P move puts the spotlight on public finances. "Whoever wins the next election, tax hikes and sharp spending cuts will be the order of the day – but today's announcement by S&P puts that much more pressure on the next government to act quickly."
S&P credit analyst David Beers said the ratings agency had based its outlook revision "on our view that, even factoring in further fiscal tightening, the UK's net general government debt burden may approach 100% of GDP and remain near that level in the medium term".
Although S&P said it was retaining the "AAA" long-term and "A-1+" short-term ratings for Britain's sovereign debt, the vast bulk of which is in gilts, Beers warned there was "a one-in-three chance" that it will be cut.
"We base our opinion on our updated projections of general government deficits in 2009-2013," he said, referring to the huge upward revisions to government borrowing projections chancellor Alistair Darling unveiled in his budget on 22 April.
"These projections reflect our more cautious view of how quickly the erosion in the government's revenue base may be repaired, the extent to which the growth in government spending can be curtailed and, consequently, the pace at which historically high fiscal deficits are likely to narrow," he added.
But, he said, the agency believed the overall ratings on the UK continued to be supported by its wealthy, diversified economy, a high degree of fiscal and monetary policy flexibility, and its relatively flexible product and labour markets.
"However, last month's budget announcements underscored that UK public finances are deteriorating rapidly – at a faster rate than S&P had previously assumed."
The Liberal Democrat Treasury spokesman, Vince Cable, said: "Alistair Darling has relied on implausible growth forecasts for the British economy which nobody but himself believes.
"Markets hate uncertainty and until the government comes clean about how it intends to pay back its debt, it is perfectly possible that we will see a further deterioration in Britain's rating."
The news came as figures showed that public sector net borrowing hit a record for April of almost £8.5bn.
But other news added to growing evidence that the economic slump may be past its worst. Figures showed retail sales in April grew 0.9% from March, much faster than expected, leaving them 2.6% up on a year earlier. That reinforced survey evidence from the British Retail Consortium and the CBI that sales grew strongly last month, boosted by Easter trading.
Other figures, though, showed mortgage lending dropped sharply in April while business investment slumped in the first quarter of the year.
http://www.guardian.co.uk/business/2009/may/21/standard-poors-uk-economic-outlook
Are you still in GM!!! Moving nice now.
We are totally living in the wrong country NICE!
This is an actual barbershop in Poland.
Be honest:
If this barbershop was in your community
How many haircuts would you get a month?!
your going to have a hell of a gapper in the morn.
GST
A little gift to my friends - put on watch!
BKUNA @ .57 x .57 afterhours :) (I could use a nice un heh heh)
I loaded up on more CRGN for a pop.
I like it hear. Should be volatile and bouncy bouncy.
BKUNA- A Private-Equity Bid Is Key for Bank Deals
Ross-Led Group Seeks BankUnited; Others May Follow
By JOE BEL BRUNO
NEW YORK -- For the private-equity industry, the future of BankUnited Financial Corp. might be the most closely watched deal of the year.
The Coral Gables, Fla., thrift, with 85 branches scattered mostly in South Florida, could serve as an indicator of how private-equity firms enter the banking industry. Federal regulators earlier this year declared that BankUnited was "critically undercapitalized" and ordered it to find a buyer or raise new capital.
Among the bidders expected to make a pitch by Tuesday's deadline is a consortium of private-equity shops led by billionaire investor Wilbur L. Ross. If successful, it would be one of the largest acquisitions in the financial-services sector made by private equity, and could signal a shift in the government's attitude toward private-equity buyers of banks.
View Full Image
Wilbur Ross
Bloomberg News
Billionaire investor Wilbur L. Ross speaks in Michigan in 2008.
Wilbur Ross
Wilbur Ross
To be sure, private equity might not win the bank. Regulators have traditionally favored lenders against other bidders in sales of banks. In the case of BankUnited, a bid also is expected from Canada's Toronto-Dominion Bank, which has significant operations in the U.S. through TD Bank and TD Ameritrade Holding Corp. That offer also is expected to include Goldman Sachs Group Inc.
"Everyone is watching this deal," said Harvard Business School professor Josh Lerner, who tracks the private-equity industry. "This could be a template that will open the floodgates in terms of transactions."
He said a winning bid by the consortium might help draw some of the estimated $450 billion of private-equity money off the sidelines and into banks. It also might show a willingness by the government to accept private equity over other banks as new owners.
Mr. Ross has long wanted to buy into the financial-services sector. He hired John Kanas, the former chief executive of North Fork Bancorp, to help run BankUnited if the deal is successful. Other members of the consortium include Carlyle Group LLC, Blackstone Group LP and Centerbridge Partners LP.
Mr. Ross, who made a name on Wall Street decades ago after buying and selling steel companies, has looked to buy for the past year, a person familiar with the matter said. He already has taken a 68% stake in First Bank & Trust, a small Indiantown, Fla., bank, for an undisclosed sum.
"He has been champing at the bit to buy a bank, and Kanas has helped to guide him when the time was right," said the person. "If Wilbur gets this deal, it will signal to everyone that it's time to go back into banks." Mr. Ross didn't return calls to comment, and a spokesman for the consortium also declined to comment.
The real test will be if the government will allow Mr. Ross to complete the transaction. Private-equity firms essentially were shut out of bidding on Bear Stearns and Lehman Brothers last year. There has been speculation the Federal Deposit Insurance Corp., which handles auctions for failed banks, hopes a bank puts in an 11th-hour bid.
One reason private equity hasn't done well in bidding on failed banks is that "existing banks have a big cost advantage," said Gerard Cassidy, an analyst with RBC Capital Markets. "The FDIC is more comfortable in selling a distressed bank to another bank because they have a history and a track record of regulating them."
http://online.wsj.com/article/SB124260869746228893.html
IN BKUNA @ .55$ Hoping for a nice bounce watching chart MFI etc :)
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BOARD HAS BEEN MOVED - PLEASE CLICK LINK BELOW:
http://investorshub.advfn.com/boards/board.aspx?board_id=15460
U.S. NATIONAL DEBT
[chart]www.kitco.com/ind/Dorsch/images/jan082009_1.jpg[/chart]
HMMM?...think about it.
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