is leveraging all of Canada's mining industry, lol!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
And to paraphrase a certain lawyer's own words:
Hey Rosen, "no yacht for you".
GO WAMU EQUITY!
You bet we know why! Because they got BILLION $$$$$$$ stars in their eyes! The cat is out of the bag and EVERYBODY SMELLS MONEY!
Hold on tight, this ride is about to get wild!
Morning Uzual! You got that right amigo, this news may not bounce us too hard, too many people still not aware of what's going on here, but IMO this is HUGE!!!
All thanks to the people that made it happen, y'all know who you are!
LMAO! I have never lost on a CTKH trade! Would you like to see the printouts? How about the ones from 2005? Or 2003? This is my little good luck charm, always an easy double! Sorry you guys didn't play it right, you might try NOT bashing if you really wanted to make some money, it's the karma that gets you, and greed/fear.
Just because you own a scabbard, doesn't mean the sword is sharp, sometimes you actually have to pull it out and show them the edge is keen.
In other words, you don't know a thing about what's truly going on. Thanks for clearing that up again.
All that ever matters, is NEXT year, just ask SoxFan if you don't believe me, lol!
Past is the past, we got a nice bounce last year, we'll get one this year, try not to be so frustrated.
I told you I still have 30 shares, which should be worth at least 100.00 a share in the future. Aren't you still holding shares?
You're welcome! Just trying to help a brother out!
And lord knows I do my share of cheerleading, but for every post, I can and often do provide links to back up what i'm saying, you'll find a large post of some of those links in the sticky section at the top, and if you like, I can send you a LOT more, as I have done several hundred hours of DD on this case.
I feel that both bashing, and pumping, is a disservice to the community. It's not a case of bashers vs. pumpers, or daytraders vs. longs, or commons vs. preferreds...no, the real battle here, as always, is the retail investor/trader vs. the MM's, the Funds, the big banks and investment houses, and in this case, even rogue elements of our government gone bad.
We should stick together and work to defeat this deck that has been stacked against us for so long, this may be the most important case ever in the U.S.'s financial history. And there is nothing the aforementioned enemies like better, than dividing us, and having us squabble amongst ourselves and spread misinformation.
GLTU.
Actually it was a basic move towards a gap-fill, a gap which was not in the .12's. Sorry, I take that to mean you blew your read and didn't buy the dip this morning and are now enjoying the bounce that I am?
Exponential moving averages are a lot more accurate, as they put greater weight upon the recent price movements. That's a freebie kid, don't sweat it, you'll get better.
Do you have any DD to support that statement? Chart observations? Anything? Or was that just another in a long line of similar posts, as your posting history suggests?
Yep. 3 billion dollars worth on the last 10Q, it will be interesting to see their report on the 15th. Dimon will be in the hot seat that day trying to make up excuses in front of the financial meltdown committee. Should make for one heckuva fun day, as he tries to explain where all those billions came from.
A part of me believes this might be the hold-up on settlement, waiting until after the quarterly figures are released. And language like this, does not inspire investor confidence in JPM's future appreciation potential:
In addition to the various cases, proceedings and investigations discussed above, JPMorgan Chase and its subsidiaries are named as defendants or otherwise involved in a number of other legal actions and governmental proceedings arising in connection with their businesses. Additional actions, investigations or proceedings may be initiated from time to time in the future. In view of the inherent difficulty of predicting the outcome of legal matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories, involve a large number of parties or are in early stages of discovery, the Firm cannot state with confidence what the eventual outcome of these pending matters will be, what the timing of the ultimate resolution of these matters will be or what the eventual loss, fines, penalties or impact related to each pending matter may be. JPMorgan Chase believes, based on its current knowledge, after consultation with counsel and after taking into account its current litigation reserves, that the outcome of the legal actions, proceedings and investigations currently pending against it should not have a material adverse effect on the Firm’s consolidated financial condition. However, in light of the uncertainties involved in such proceedings, actions and investigations, there is no assurance that the ultimate resolution of these matters will not significantly exceed the reserves currently accrued by the Firm; as a result, the outcome of a particular matter may be material to JPMorgan Chase’s operating results for a particular period, depending on, among other factors, the size of the loss or liability imposed and the level of JPMorgan Chase’s income for that period.
WMI will receive ALL the NOL. There was never really a question in my mind about that, and it won't be long either.
Won't be long for a lot of things now, JMHO, too much going on, time to stop flipping I think, i'm buying today.
Wanna-be's like Starke, HAVE to pump-and-dump, because hacks like that have no trading skills, the only way they win is by stacking the deck.
Amazing, for all y'alls claims about being "warriors and veterans" of CTKH, and all those posts about how I should listen to you guys because you had been here since forever and had all the DD, after ALL that, it still looks like to me, that none of you really know squat about what's going on at Cetek.
Oh I noticed, typical pump-and-dump by the Street and it's minions like Starke. I mean really, nobody takes those bozos seriously do they? We all know what their carefully crafted "language" in matters like this really means right?
They bought, they pumped, they dumped, they bash again, they buy it back cheap. repeat. repeat.
Agreed. And OBV and MFI are right on track with RSI, so the money is flowing in. Gonna take volume to push it though, that's where we are getting clipped, need those 100 mil+ days to kick in. Plenty of material events coming this month, and news coverage should explode at some point, that'll get us the volume.
GLTU!
Pre-earnings runup, obviously people are expecting JPM to have another huge profit thanks to WAMU'S ASSETS.
Good post, I agree completely. And the chart has recovered amazingly, it was due a breather after a couple of nice days. Having an exponential moving average convergence today, the 20 is crossing up the 50, good good sign, resistance here at the .19 area, just need volume to get over the hump.
Important point Godfather, I agree, it has always been my expectation that they would follow through as the chapter 11 filing indicates, and re-organize, and that's where the elusive Bonderman finally may come in IMO. With 230 million commons on the back-burner, he has a huge stake that can be re-born if all goes well.
And another thing to consider in the "possible" scenarios with regards to this matter, TPG bought up a big chunk of the Corus blowout, along with Starwood. Now the FDIC is their de facto "partner" in this deal, The FDIC still holds 60%, and has agreed to provide financial backing to TPG/Starwood in this deal as well. One could speculate, that it was the FDIC "making nice" with Bonderman. So in a "what if" scenario, what about a possible settlement, Wamu emerges from BK with the 4 billion, and the NOL money, and other monies/equity etc. from JPM, Moody's etc, FDIC agrees to "make nice" (no blame admitted, quite the opposite, they PR it as them being the savior of the taxpayer again) and transfer it's portion of the old Corus to Wamu AND continue to offer financial support, Bonderman rolls TPG's cut into WMI, Bonderman has a huge chunk now of a working investment bank, makes all his money back, and Wamu is back in business?
Sorry, I didn't mean to imply that at all, all the Wamu tickers are looking solid, and I believe they are ultimately going to all be in high cotton! But some money is moving around, and commons will follow the preferreds now, so with K's at 3.00 plus, it should mean the commons will follow with new highs soon, JMHO, no more.
Exactly my thoughts too Godfather. The people late to the party are buying the Street pump, the savvy are selling and moving to the commons now, much bigger potential ROI now and especially attractive after some profits have already been locked in from the preferreds.
I disagree. The NOL laws are part of the stimulus package, and need to be filed within 45 days of the legislation being passed, and also provide for a refund within 30 days. The idea is to stimulate the economy NOW, not three years from now, no way WMI lets that slide. There is a very real potential for us to see 5.6 billion in cash come February.
Dude, I just buy every time Johnny Winter starts posting, and like magic, the stock bounces, I hope he doesn't leave and kill the run.
Agreed. Speed-bump at .21-.23, then back up to test recent highs. Lots going on this month, and the potential to get paid 5.6 billion in cash (NOL) money by February. I could see a dollar by month's end. But i'll stop now before I get called a pumper, lol!
Exactly Chiron. And the "revised settlement" talk we see in the filings, is about to have to be revised yet again due to the EC.
Getting more expensive by the day for JPM, soon what they will have to pay to settle, will be greater than than the billions they are currently making each quarter from Wamu's assets, and the stalling will stop. But IMO, I think they waited too long with that strategy, criminal charges will change everything, and RICO will triple the bill. Moody's is definitely screwed, again JMHO, but they will be hung out to dry HARD, WMI may end up owning Moody's, as they aren't worth the potential damages they could be held liable for.
Agreed twice, I can't respond to PM's, but you are absolutely spot-on in your assessment.
Only nine more days, until Jamie Dimon has to sit in front of the committee to investigate the financial meltdown, and explain his actions. There are already multiple parties mailing the committee reams of information on the Wamu case, including articles showing complete redaction of documents filed under the FOIA, and the VERY damning facts uncovered already by 2004 discovery.
IMO we are days, maybe hours, from this case hitting center-stage, and becoming the largest financial scandal in history. This will be the s**tstorm of the century. Any deadlines can and will be changed by significant material events, ESPECIALLY any criminal activity that comes to light.
"I am just looking at the facts and figures that we have now - not what may be in the future."
Well if that were true Linda, then you would sell NOW, as we don't even have possession of the 4 billion in cash nor any of the NOL money. So technically, at this very moment, your shares have negative worth.
It's ALL about what will happen in the future.
Damages Linda. Infringement upon trademarks and copyrights alone can carry serious repercussions, just ask any of the file-sharers that got busted by the RIAA. RICO carries triple damages if it goes that far, anything deemed illegal about this transaction, carries the possibility of punitive damages being awarded to the estate and shareholders, ask a lawyer. Breach of fiduciary duty is huge, and broad based enough to encompass multiple acts here.
http://en.wikipedia.org/wiki/Fiduciary_duty
Also securities laws with respect to insider knowledge and confidentialty, have been broken, and that also falls under breach of fiduciary duty to a certain extent. So multiple multiple laws have been broken, winning against JPM and emerging from bankruptcy, is not the end of the game here. If and when laws are found to have been broken, and fiduciary duty breached, that opens up a whole new raft of civil suits, not just from WMI, but also shareholders.
See, the problem is, there's really no way to prove, that Wamu wouldn't have bounced back with improving market conditions and some TARP. A shareholder's lawyer, could easily allege, that a given shareholders money, might have tripled or quadrupled in that time, and who's to say it wouldn't have? Thus, his/her shares at 7.65, might have turned into 40.00 a share, HAD THE LAW NOT BEEN BROKEN AND WAMU ILLEGALLY SEIZED. There is the "fair value" argument, TRUE fair value considering possible appreciation. THEN you add in damages from there! And the pot starts to get really big.
The street smells blood here, and the sharks have begun to circle.
On Reuters, over the weekend it will be everywhere. Looks like 2010 will start with a bang!
Well nobody said we were playing Secretariat here, we got Mud Flap at 100 to 1, and that does take some stones young brother.
Ummmm...JMHO here, but I would say in general, that it's due to people who didn't know, waking up to the fact that there is a potential 100-bagger here. Currently selling for just over 14 cents a share.
LOL! Smallest "trigger pull" i've made on Wamuq was just over 75%, 12% is noob territory friend, i'll see you next week!
Check the sticky at the top, it's a post of links, has the link to the ROI calculator at streetace.
Name-calling is what you call "facts"? And it's also pertinent DD that belongs on a stock message board?
Good luck with that.
She might be all that, not my place to comment on her political leanings on the Wamuq stock board, but IMO we should all be a little grateful, that she spread the picture that is my signature, all over the front page of the Huffington post. For that, I would forgive a lot.
*edit*, or WAS my signature, has now apparently been disabled by Admin here....hmmmm...
Comment on recent Street article, former Wamu employeee:
http://www.thestreet.com/_yahoo/story/10654336/1/a-financial-scandal-for-2010.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
"I worked for WaMu in Strategic Ops and can assure everyone that the bank was not insolvent nor were the anticipated loan losses going to impact solvency. The day before WaMu was seized Ken Kido(EVP OPS) met with a small group of us for, what was becomming a pretty regular, open door session. The meetings, this one in particular, were brutal for bank leadersip. Ken laid out the current state of the bank and previewed Qtr end. We discussed the current outflow of deposits and its impact. To call it a "Run on the bank" is assinine. The biggest concern for the bank at the time was resigning departed customers and ensuring that the Stores(branches) were ordering enough cash to service the increase in withdrawls. We beat the numbers to death that day there was nothing to indicate that WaMu was in jeopardy, or would be prior to Q4 2010. one other nte, when WaMu looked at withdrawl and loan loss predictions it was done in a "worst case scenario" manner, almost to a fault. WaMu was not in danger of failing. WaMu was well capitalized and had the liquidity to continue operating for 2 years. If there are any doubts about this look at JPMs earnings. JPM realized profit as soon as the deal was complete and have posted huge WaMu based profits each Qtr since. It is nice to see this finally getting a little attention, but Dan don't say that it would be nice if it got major media attention, push it. Load up on the pref'd and partner with K Grind to get this into the mainstream. The citizens of this country deserve to know how the Government contributed to the meltdown and what the true cost of the unnecessary seizure of WaMu. (Look at the NY fed report from Jan. 09, the impact of the WaMu deal is frightening and eyeopening)"
Welcome to your "Financial Scandal for 2010"! The largest nastiest bank job in history!
2010 will be a year none of us will ever forget, the year Wamu rose from the ashes of it's own demise, and revealed all the dirty little secrets of the financial giants and regulators...the face of our system will never be the same again.
Hold tight, it's gonna be one hell of a ride!
Happy New Year to all Wamuer's, see you in VEGAS BABY!
Gungadin, please see these posts for both articles:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44858391
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44855719
Yep, the junior mining stocks were quite hot in the summer, beat down a little now, I haven't checked MDMN, but i'll look into it, and thanks! Still holding some SRSR, URST, and a little ALLRF, that I re-entered on the cheap, hoping for a boost in the spring, URST and ALLRF are a little iffy due to political climates in their respective countries IMO, but if Madagascar gets it's s**t together, URST will be hot, as they have what may be the world's largest vanadium field. They have some pretty heavy hitters on the board, a fairly low OS, and have applied, and have conditional approval, to uplist to the TSX. Check 'em out.
I'm deep into the battle over WAMUQ right now, it's a gamble for sure, but might just be paying off big soon, we'll see...
Good health and fortune to you too!
If y'all want the scoop on Bonderman, please don't sit here and pass around rumor. David Bonderman is a publicly reporting entity, he was a director at Wamu, and holds above 10% of the common stock, thus he is bound by SEC rules section 16. Here are the links to Bondermans filings at the SEC, and to his "insider" transactions. If you just look, you'll see ALL of his transactions in Washington Mutual, are him ACQUIRING the stock, there are no sells listed as yet. As a 10% owner, he would HAVE to report it, even if the bankruptcy court, didn't have it's own restrictions.
And in any case, it doesn't really truly matter how much stock Bonderman owns, any more than it matters how much I own, justice is justice, the cat is waaaaaay outta the bag now, Dimon is in the hot seat, the Trustee is asking for an EC, the Justice department is involved, Moody's is being investigated, it's ALL going to come out now. Next year is a mid-term election year, why do you think all of a sudden the government is investigating all this? And now a commission in January that's going to drag Dimon and Lloyd Blankfein in and force them to testify about their role in the meltdown? Does the term "scapegoats" or "whipping boy" mean anything to ya? LOL!
Bonderman's filings
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000860866
http://www.sec.gov/cgi-bin/own-disp?action=getowner&CIK=0000860866
http://www.sec.gov/rules/final/34-46421.htm
Section 169 applies to every person who is the beneficial owner of more than 10% of any class of equity security registered under Section 12 of the Exchange Act,10 and each officer and director (collectively, "reporting persons" or "insiders") of the issuer of such security. Upon becoming a reporting person, or upon the Section 12 registration of that security, Section 16(a) 11 requires a reporting person to file an initial report with the Commission disclosing his or her beneficial ownership of all equity securities of the issuer.12 To keep this information current, Section 16(a) also requires reporting persons to report changes in such ownership, or the purchase or sale of a security-based swap agreement13 involving such equity security. Previously, Section 16(a) provided for such transactions to be reported on a monthly basis within 10 days after the close of each calendar month in which such a change in ownership or purchase or sale of a security-based swap agreement occurs.