is enjoying a new career in health care
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Came home, opened my account and it screamed WEEEEEEEEEEEE FAZ has been GOOD to me
FAZ...Financials were mixed today- FAZ rose to a new high of 5.84+ then retraced slightly -
You know my background and experience so take my words in context to what's happened with financials...
IMO there's more truth and 'clarity' to come from this crazy market over the next few weeks/months. Remember, more variable ARM (3 and 5 yr) loans were written and will come due to adjust from Q2-Q3 09' (summer refinance trends from 03' and 06') and throughout 2010. The "loan modification programs" are NOT as deep, wide or broad as the media would like to portray. I would speculate to say that 1 in 10 actually achieve success with an accurate modification that prevents foreclosure.
Additionally there is yet another wave of foreclosures just beginning within the commercial mortgage sector. As more small business are faced with layoffs, downsizing and eventually bankruptcy these same businesses are being forced to close their doors. This creates an overabundance of commercial rental properties that are NOT occupied or generating revenue for property owners. These are LARGE (often multi-million $ properties) that are sitting empty and underutilized. Commercial property owners will only hold onto these vacant, revenue negative properties.
Just perform a google search and review the current foreclosure stats throughout the US.
Govt money can only buy so much time when the foreclosure and unemployment cycle continues to gain momentum.
FAZ Survey says.... Financials were mixed today- FAZ rose to a new high of 5.84+ then retraced slightly -
You know my background and experience so take my words in context to what's happened with financials...
IMO there's more truth and 'clarity' to come from this crazy market over the next few weeks/months. Remember, more variable ARM (3 and 5 yr) loans were written and will come due to adjust from Q2-Q3 09' (summer refinance trends from 03' and 06') and throughout 2010. The "loan modification programs" are NOT as deep, wide or broad as the media would like to portray. I would speculate to say that 1 in 10 actually achieve success with an accurate modification that prevents foreclosure.
Additionally there is yet another wave of foreclosures just beginning within the commercial mortgage sector. As more small business are faced with layoffs, downsizing and eventually bankruptcy these same businesses are being forced to close their doors. This creates an overabundance of commercial rental properties that are NOT occupied or generating revenue for property owners. These are LARGE (often multi-million $ properties) that are sitting empty and underutilized. Commercial property owners will only hold onto these vacant, revenue negative properties for so long before they also begin to default on their loan payments.....
Just perform a google search and review the current foreclosure stats throughout the US.
Govt money can only buy so much time when the foreclosure and unemployment cycle continues to gain momentum.
Thanks Lang, imo it's time for financials to experience a retrace and consolidation at lower levels....
DPTR chart recovery? Bringing this thread back for review- what's the boards opinion?
I might be a little early but I took an initial position @ 1.78 this am
I saw the opportunity on the pullback -got lucky and they filled it before it took off!
FAZ Grabbed my entry @ 4.97 this am in PM
Picked up my 1st position at $4.97 in PM this am
Thanks for the welcome back- ABK had a significant rise in volume and pps today....I would have liked to have seen it close higher but there's always tomorrow!
More to come on ABK- There's a CC right now and you should also check out the charts
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37680305
ABK consolidation around 2$ is good, just a minor pause before the next level!
ABK making a second attempt to break through 2$!
ABK breaking through $1.80
Be ready for the earnings release Monday morning:
Ambac Financial Group, Inc. Conference Call to Discuss First Quarter Earnings Set for May 11, 2009 at 11:00 A.M. EST.
NEW YORK--(BUSINESS WIRE)--May. 1, 2009-- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced that it will host a conference call for investors on May 11 at 11:00 a.m. Eastern to discuss first quarter 2009 earnings which are scheduled to be released at 8:30 a.m. that morning. The dial in number for the call is 1-8... (Domestic) and 201-689-8565 (International).
The conference call will also be broadcast live on Ambac’s web site at www.ambac.com.
ABK - Be ready for the earnings release Monday morning:
Ambac Financial Group, Inc. Conference Call to Discuss First Quarter Earnings Set for May 11, 2009 at 11:00 A.M. EST.
NEW YORK--(BUSINESS WIRE)--May. 1, 2009-- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced that it will host a conference call for investors on May 11 at 11:00 a.m. Eastern to discuss first quarter 2009 earnings which are scheduled to be released at 8:30 a.m. that morning. The dial in number for the call is 1-877-407-0778 (Domestic) and 201-689-8565 (International).
The conference call will also be broadcast live on Ambac’s web site at www.ambac.com.
ABK Charts with Supp/Res
This volume set-up is beginning to look very similar to the start of the run-up at the end of July 2008
resistance 1.74
support 1.60
support 1.44
support 1.28
ABK Share Info
Shares Outstanding: 287.35M
Float: 283.54M
% Held by Insiders: 0.65%
% Held by Institutions: 47.50%
Shares Short (prior month): 38.80M
Shares Short (as of 09-Apr-09): 34.15M
Short Ratio (as of 09-Apr-09): 6.1
Short % of Float (as of 09-Apr-09): 12.00%
ABK Charts with Supp/Res (Link back for LT daily chart)
resistance 1.74
support 1.60
support 1.44
support 1.28
This set-up is beginning to look very similar to the start of the run-up late July 2008
What do you think about ABK Bigz?
ABK Charts with Supp/Res
This volume set-up is beginning to look very similar to the start of the run-up at the end of July 2008
resistance 1.74
support 1.60
support 1.44
support 1.28
ABK Charts -
This set-up look very similar to the beginning of the run-up at the end of July last year
I was watching L2 when the shake happened - didn't expect it to be so transparent- the reaction to the news was almost ironic, probably the complete opposite of what the MMs expected
Great call Laura! Looking forward to Monday PM
Thanks Fringe for the heads up on HAYZ I picked up my position yesterday on a pull back -still holding everything after the roller-coaster ride today
B-E-A-U-T-I-F-U-L!
ABK bounced off $1.65 for a new HOD
ABK $1.57 HOD and still going
FDA approved their Iloperidone
http://www.medpagetoday.com/ProductAlert/Prescriptions/14094
VNDA +700% wow....wish we had paid more attention M7
AH ABK news $1B lawsuit against JPM
Ambac Fincl Unit Seeks $1B From JPMorgan In Contract Action
NEW YORK (Dow Jones)--A unit of Ambac Financial Group (ABK:$1.44,00$0.06,004.35%) is seeking $1 billion in damages from JPMorgan Chase & Co. (JPM:$37.22,00$2.40,006.89%) in a breach-of-contract action over allegedly "inappropriate" investments in subprime and residential mortgage-backed securities.
Ambac Assurance UK Ltd. has filed a notice in New York State Supreme Court that it is seeking compensatory damages against J.P. Morgan Investment Management Inc. in a breach-of-contract action related to JPMorgan's work as discretionary manager for $1.65 billion of assets held by Ballantyne Re plc. The notice was dated Monday.
According to the court document, the investment management agreement for Ballantyne required the JPMorgan unit to seek "reasonable income while providing a high level of safety of capital."
The notice, which is also alleging breach of fiduciary duty and gross negligence, claims the JPMorgan investment management business breached its obligations by purchasing and maintaining almost all of Ballantyne's assets in " inappropriate securities, including subprime and Alt-A residential mortgage- backed securities and home-equity backed securities."
The Ambac unit alleges the JPMorgan unit knew the investments were extremely risky and inappropriate.
"JPMorgan's acts and omissions were, at a minimum, grossly negligent, and were the proximate cause of Ballantyne's losses," the notice said.
Mary Sedarat, a JPMorgan spokeswoman, said they've received a summons, but haven't yet been served with a formal complaint.
"We believe that we managed Ballantyne's account appropriately and thus intend to contest vigorously any allegations that we did not," Sedarat said.
-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/nae/al?rnd=2mGhBVCXrMyghSy2py0uGA%3D%3D. You can use this link on the day this article
ABK PM gap filled, time to move up for day 2
Good Article from seekingalpha today
http://seekingalpha.com/article/135331-don-t-be-fooled-we-ve-been-here-before?source=article_lb_articles
I have one block @ $1.37 and 2 more big blocks @ $1.44 still holding it all - After the $1.50 break today AND this new DD I will definitely be holding! See below for support and resistance
resistance 3.81
resistance 3.66
resistance 3.41
resistance 2.90
resistance 2.81
resistance 2.35
resistance 2.01
support 1.53
Hey Lang! Check out the RDNT Form 4 100k share purchase
http://www.sec.gov/Archives/edgar/data/790526/000101968709001552/xslF345X03/edgar.xml
Right before earnings release..... i would take that as an extremely good sign for those of us in!
I updated my original post!
RDNT Form 4 100k share insider purchase (at $1.47)
http://www.sec.gov/Archives/edgar/data/790526/000101968709001552/xslF345X03/edgar.xml
Right before earnings release..... i would take that as an extremely good sign... GLTY and thanks for all of your help with the RDNT charts!
RDNT Form 4 100k share inside purchase
http://www.sec.gov/Archives/edgar/data/790526/000101968709001552/xslF345X03/edgar.xml
Right before earnings release..... i would take that as an extremely good sign... GLTY and thanks for all of your help with the RDNT charts!
Don't feel alone I'm right there with you I have one block @ 1.37 and 2 more big blocks @ 1.44 still holding it all and looking for the 1.50 breakout
AF- Here's the official news release from Reuters relative to NVAX
http://www.reuters.com/article/marketsNews/idAFN2425534220090424?rpc=44&sp=true
UPDATE 1-Venture capital firm set to reap rewards on swine flu
Fri Apr 24, 2009 6:35pm EDT
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Market News
Banks, Fed, earnings, flu in view
Oil falls over 2 percent on flu fears
Yen, dollar gain while peso falls on flu jitters
More Business & Investing News...
(Adds Roche comment, paragraphs 4-5)
By Alexander Haislip
LOS ANGELES, April 24 (Reuters) - The swine flu outbreak is likely to benefit one of the most prolific and successful venture capital firms in the United States: Kleiner Perkins Caufield & Byers, Thomson Reuters Private Equity Week reported on Friday.
Shares of the two public companies in the firm's portfolio of eight Pandemic and Bio Defense companies -- BioCryst Pharmaceuticals (BCRX.O) and Novavax (NVAX.O) -- jumped Friday on news that the swine flu killed a reported 60 people in Mexico and has infected people in the United States.
The World Health Organization (WHO) said the virus appears to be susceptible to Roche's (ROG.VX) flu drug Tamiflu, also known as oseltamivir, but not to older flu drugs such as amantadine.
Roche said it has five million treatment courses of Tamiflu on stand-by for the WHO in its "Rapid Response Stockpile."
"Roche was contacted by the WHO and is prepared to immediately deploy the stockpile if requested. However, this request has not been made at this time," Roche spokesman Terry Hurley said.
Shares of Swiss drugmaker Roche Holding AG closed up 3.48 percent after falling sharply earlier in the week on a cancer drug disappointment, while shares of U.S. biotechnology company Gilead Sciences Inc (GILD.O), which gets royalties from Roche on Tamiflu sales, slipped 10 cents to $45.80 on Friday.
Shares of BioCryst, a maker of drugs that block key enzymes in viral diseases, jumped more than 26 percent on Friday to $2.21 per share. Viral vaccine maker Novavax rose more than 75 percent to $1.42 per share.
BioCryst CEO John Stonehouse said his company does not anticipate the use of its technology in treating this episode of swine flu.
"We're in clinical trials right now and not on the market," Stonehouse said.
Still, the companies will have to go even higher for Kleiner Perkins to make its investment back. Both BioCryst and Novavax experienced long drops from price peaks in 2006, when reports of avian flu dominated headlines.
BioCryst is down nearly 90 percent from its 2006 high of $20.75 per share and Novavax is down more than 85 percent from a high of $7.98 per share.
Kleiner Perkins invested $30 million in BioCryst in December 2005 alongside Fort Worth, Texas-based buyout firm TPG. The two firms invested again in August 2007, picking up $65 million worth of shares and warrants. The investors bought shares in BioCryst at $13.46 and then $7.80.
Kleiner Perkins put $20 million in Novavax in February 2006 alongside Palo Alto, Calif.-based Prospect Venture Partners. The two firms picked up the shares at $4.35.
Novavax can produce a vaccine from an emergent strain of flu virus in 12 weeks, according to CEO Rahul Singhvi. The company has contacted the U.S. Centers for Disease Control and Prevention to offer help and is trying to contact the Ministry of Health in Mexico, Singhvi said.
The company uses genetic information and "recombinant, virus-like particle technology" to rapidly engineer a vaccine. Its technology has been proven to work in humans during Phase II trials, Singhvi said, and it might be used in the case of an emergency.
"There is an emergency authorization avenue that is available that would allow us to use the vaccine in an emergency without further testing," said Singhvi.
Kleiner Perkins typically only invests in early stage start-up technologies. It is best known for its investments in Netscape, Amazon.com (AMZN.O), Google (GOOG.O) and Genentech (ROG.VX).
The Menlo Park, California-based VC firm launched a $200 million Pandemic Bio Defense fund in 2006 to invest in technology companies working on drugs, diagnostics and inoculations against flu-like diseases.
"We will invest to accelerate innovation, and we're in a hurry," Investor John Doerr said at the time. "We hope even a mild pandemic never recurs."
Investors at Kleiner Perkins were not immediately available for comment.
The firm's other Pandemic Bio Defense investments include: * San Francisco-based Anza Therapeutics, which is working on therapeutic vaccines for treating certain types of cancer and hepatitis C. * Fremont, Calif.-based Breathe Technologies, which is working on lightweight respiratory ventilator systems. * Emeryville, Calif.-based HX Diagnostics, which is working to make diagnostic tools for seasonal and emerging diseases. * Pleasanton, Calif.-based Juvaris BioTherapeutics Inc., which is working on vaccines and immunotherapeutics to treat infectious disease and cancer. * San Diego-based Trius Therapeutics, which is developing drugs to fight resistant-strains of bacteria. * Marlborough, Mass.-based Xcellerex Inc., which has developed tools and manufacturing processes to speed the deployment of new vaccines. (Additional reporting by Bill Berkrot in New York)
IMO it could go both ways on Monday...depends on volume and possible M/A news....will be watching closely
NP will be watching the open tomorrow for a continuance of Friday close or a mild chart pullback....IMO it could swing either way but any M/A news would launch the pps
Another great chart and insight-I will be watching the market closely next week awaiting the signal confirmations. What's you interpretation and expectations for the sentiment trend?