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Excellent info, thanks Denny!
Like it! May want to mention that they need to do more DD for their clients, too.
Finished at the top (96%) of the day's trading range on a 700+% increase in volume. All the buyers... awesome!!!!
:) Perhaps we are picking up some of the P&Ders, even if they are short.
I 2nd that. Denny is the king of DD!
Hey, if we consolidate for a bit and even drift down some, that sets up a possible high-tight flag chart pattern, which is the most powerful of all chart breakout patterns. That's what consolidations are for: let's the weak hands sell their shares, while the smart money accumulates shares.
Great finish! Finishes the day at the very top of its daily range on a 450+% avg volume change. Overhead resistance doesn't start to get heavy until about 1.20, but with the huge breakout we had (bb squeeze and stage 1 consolidation breakouts on massive volume), might be able to bolt right through it, if this breakout has legs.
After 2 huge days, good to see the stock fight back and finish in the upper of today's trading range.
Sweet Bollinger Bands Squeeze Breakout!
http://stockcharts.com/h-sc/ui?s=SYCRF&p=D&st=2015-12-01&en=today&id=p66699931594
SYCRF breakout from consolidation that started back on Dec. 24 2015 (0.35 pivot price). Depth of consolidation 37%. Stage 1 base. Vol % change 1739.77%
Hope this breakout has legs!
Not an expert that is for sure, but this looks great:
Net Income (Loss) (000's):
Syncora Guarantee Inc.
$ 208,969 2015
$ (52,742) 2014
Syncora Capital Assurance Inc.
$ 4,573 2015
$ (74,338) 2014
Been thinking about buying a little more... perhaps I should.
Guess a few folks new earnings were going to be released after hours based on pps increase, although volume wasn't much (so it was probably mere speculation on their parts without actually knowing).
Thanks for the info, Denny! Do you think it is possible that these results will move the stock?
Remember how the FDA ??????? Elite just as the co turned a profit based on Lodrane sales. Jerry was irate on CCs. That was classic :)
Jerry knows the FDA is unpredictable, so he is just taking a small amount off the table. Still has 8,411,537 shares.
Thanks for the info, Couch! Which conference call was that? I'd like to take a listen.
Thanks for the input, Couch! Your posts are informative, both here and on Yahoo. I assume from your response that patient usage guidelines for ELI-200 has not been released by Elite. If this is not the case, please let me know.
Have not been able to find the answer to this question, but perhaps one of you knowledgeable investors could help out:
I know that the FDA had problems with Purdue's IR Oxy such as it needs to be taken on an empty stomach. Was wondering if ELI-200 has any similar restrictions. Been an investor in Elite for a long time and have not heard of or found any issue with SequestOx.
Thanks for the update!
Wonder if some algo trading intensified the selloff, breaking below the lower band...
The chart looks like a Bollinger Bandwidth Squeeze, although in this case it went the wrong direction for us:
http://stockcharts.com/h-sc/ui?s=SYCRF&p=D&yr=0&mn=3&dy=0&id=p49675911596
Like this kind of talk (tweets)...
Capitalist@Large ?@CapitalismWorld 3h3 hours ago
message to Susan Comparato CEO lets float 45% of American Roads and see the valuation we get then buy back SP notes & stock $SYCRF = $10+
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Capitalist@Large ?@CapitalismWorld 3h3 hours ago
When i see "Canadian pension funds buy Chicago Skyway for $2.8 billion" i wonder what American Roads is worth $SYCRF
Three of Canada's largest pension plans have agreed to buy Chicago toll-road operator Skyway Concession Co. for $2.8 billion from a group led by Spain's Ferrovial SA.
http://www.chicagotribune.com/business/ct-chicago-skyway-operator-sold-20151113-story.html …
Thanks for the info, Denny! Hopefully stock will start to climb on heavy volume before not too long!
Thanks for all the info, Denny! Nice price action today with volume 30% above normal. Let's see if MBIA can get a rally going. Not doing much in after hours, however. Perhaps a nice rally in the sector if this becomes fact:
MBIA Could See Happy Ending in Puerto Rico
MKM Partners upgrades the bond insurer, expecting a big jump in the share price.
November 3, 2015
MBIA (MBI: NYSE) By MKM Partners ($7.74; Nov. 3, 2015)
We are upgrading MBIA to Buy from Neutral as we believe the bond insurers and the Puerto Rico Electric Power Authority (PREPA) will soon come to a consensual agreement whereby losses to MBIA (ticker:...
http://www.barrons.com/articles/mbia-could-see-happy-ending-in-puerto-rico-1446577852?mod=yahoobarrons&ru=yahoo%22%20data-ylk=%22cp:Barrons.com;o:e;
Thanks for the notification, Denny! Price action today was nice, but volume was a bit tepid.
Technical indicators looking up:
http://stockcharts.com/h-sc/ui?s=SYCRF&p=D&yr=0&mn=1&dy=0&id=p42517687260
30's was a base before, so folks may think it is a good time to buy as before. Know I did.
Could be manipulation. Thought that myself a few times. I think it will find support in the .30's. We traded in that range for a long time prior to the BAC settlement.
President Obama Talks About Preventing Substance Abuse in Weekly Address
"Many prescription pain medications belong to the same class of drugs as heroin. In fact, four in five heroin users started out by misusing prescription drugs. And over the course of just one year, between 2013 and 2014, we saw a 33% increase in the number of heroin users. "
Entire...
(WASHINGTON) -- In his weekly address for “National Prescription Drug Take-Back Day," President Obama talks about preventing substance abuse by encouraging Americans to dispose of expired or unwanted prescription drugs at collection sites in their communities.
"More Americans now die every year from drug overdoses than they do in car crashes. And most of those deaths aren’t due to drugs like cocaine or heroin – but rather prescription drugs," he said.
He also said 16,000 Americans were killed by overdoses from prescription pain medications in 2013, and most young people gain access to prescription drugs not from "some dark alley," but from a home medicine cabinet.
Read the full transcript of the president's address:
Hi, everybody. Today, September 26th, is “National Prescription Drug Take-Back Day.” It’s a day where you can safely, conveniently, and responsibly dispose of expired and unwanted prescription drugs at collection sites in your community.
Here’s why this matters. More Americans now die every year from drug overdoses than they do in car crashes. And most of those deaths aren’t due to drugs like cocaine or heroin – but rather prescription drugs. In 2013 alone, overdoses from prescription pain medications killed more than 16,000 Americans. And most young people who begin misusing prescription drugs don’t buy them in some dark alley – they get them from the medicine cabinet.
If that’s not a good enough reason to participate in “National Prescription Drug Take-Back Day,” here’s another. Many prescription pain medications belong to the same class of drugs as heroin. In fact, four in five heroin users started out by misusing prescription drugs. And over the course of just one year, between 2013 and 2014, we saw a 33% increase in the number of heroin users.
All of this takes a terrible toll on too many families, in too many communities, all across the country – big and small, urban and rural. It strains law enforcement and treatment programs. It costs all of us – in so many different ways.
That’s why, four years ago, my Administration unveiled a Prescription Drug Abuse Prevention Plan. We’ve been partnering with communities to combat overdoses, and we’re seeing some promising results. That’s why the budget I put forward this year would build on those efforts. It would make critical investments in things like drug monitoring programs, equipping more first responders to save more lives, and expanding medication-assisted treatment programs – including in our prisons.
In fact, getting smarter about how we address substance use disorders is a vital part of reforming our criminal justice system. Rather than keep spending billions of taxpayer dollars on needlessly long prison sentences for nonviolent drug offenders, we could save money and get better outcomes by getting treatment to those who need it. And we could use some of the savings to make sure the brave men and women of law enforcement have the resources they need to go after drug kingpins and violent gangs, disrupt the flow of drugs into our country, and address the real threats to our communities.
With no other disease do we expect people to wait until they’re a danger to themselves or others to self-diagnose and seek treatment. So we should approach abuse as an opportunity to intervene, not incarcerate. And we all have a role to play here. Parents, we have to understand how important it is to talk to our kids, and to safely store medications in the house. The medical community has to be engaged, too – because better prescribing practices will make a difference.
And as a country, we have to keep working to reduce drug use through evidence-based treatment, prevention, and recovery. Because research shows it works. Courageous Americans show it works, every day. That’s why the man I named to head the office of National Drug Control Policy – Michael Botticelli – is a man in long-term recovery himself. He talks about it openly and honestly, precisely to strike down the shame and stigma that too often keep people from seeking care before it’s too late.
This is something I’ll be talking about more in the weeks to come, in communities across the country. Because it’s a challenge we can solve if we work together.
Thanks, and have a great weekend.
PUERTO RICO COMWLTH up to 75.50 today
Coupon Rate
8.000 %
Maturity Date
07/01/2035
Symbol
—
Next Call Date
07/01/2020
Callable
Yes
Last Trade Price
$75.50
http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker=M12722165868065
Excellent, Denny! Last quarter looks like they slowed down their sells considerably. Of course, with little volume, it's tough to sell. Be interesting to see how much they have after current quarter.
Nice to see high volume and not be down. Would be better to see big volume with a substantial rise in the pps such as MBI did today with a 13.6% increase (bigger exposure I guess), ambc, and ago. I'm a Pollyanna, so I believe it will come. Even bought a little more not too long ago.
UPDATE 1-Puerto Rico's PRASA secures credit extension - statement
10 minutes agoReuters
Related Investments
Bank of America Corp
Last 3 Months
(Adds executive president's quote, background)
NEW YORK, Aug 31 (Reuters) - A Monday deadline for Puerto Rico's water authority to repay a $90 million credit facility has been extended until at least Sept. 15, giving it more time to work on a $750 million bond sale.
The bond offering, postponed from the week of Aug. 17 to give wary investors more time to analyze materials, would allow the Puerto Rico Aqueduct and Sewer Authority (PRASA) to pay down the credit facility from Banco Popular de Puerto Rico.
It would be Puerto Rico's first public bond offering since it failed on Aug. 1 to make a full payment on bonds sold by its Public Finance Corp, a move widely considered a default.
On or before Sept. 15, Bank of America Merrill Lynch is expected to acquire $75 million of the credit facility, with Banco Popular de Puerto Rico maintaining the balance, PRASA Executive President Alberto Lazaro said in a statement.
PRASA will then sign new credit facilities with the banks with Nov. 30 maturities, PRASA spokeswoman Norma Munoz said in an email.
PRASA is observing market conditions and waiting for the right time to price the offering, Lazaro said in the statement.
Puerto Rico is delaying until Sept. 8 the completion of its fiscal reform plan, originally planned to be delivered on Sunday or Monday. The Puerto Rico Electric Power Authority (PREPA) also faces a Sept. 1 deadline to execute its restructuring support agreement.
"Although these are unrelated to PRASA, we decided it was a better strategy to wait for those externalities to occur and take that uncertainty away from our deal," Lazaro said.
Puerto Rico's Governor Alejandro Garcia Padilla shocked investors in June by saying he wanted to restructure the island's $72 billion debt.
(Reporting by Jessica DiNapoli; Editing by Chizu Nomiyama and Richard Chang) REUTERS
I second that! Sounds like excellent news! Now for a rise in PPS!
Hey, hey I'm for getting together to celebrate if this thing ever takes off! And I'm sure all the sycrf longs appreciate due diligence Denny does on sycrf. I for one have learned much about the business from him; he forgets more about it than I know.
Sounding pretty optimistic Snowball. Perhaps today's high volume game Legg Mason more of a chance to unwind its position, and the sooner they are out, that's one less headwind for the PPS to rise.
Thanks Denny! That was a good impression of snowball! Wonder if snow was buying today...? Good to see us up on big, big volume!
I remember that: Bruce Berkowitz had a large holding in MBIA but to my dismay sold early at about 8-9, then the stock went up to about 12-14 on the BofA settlement news, but at least BB doesn't own it now.
Yes, thanks much for your insights, Denny!
Thinking it will settle back down in the 30's where it was for so long, and then won't move much from there until some substantial news/rumor. Of course I'd rather see it pop back up to 2 asap, but it could be a buying opportunity. Thanks to the poster for the analysis of the book value!