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We're playing baseball now?? :))Sorry to have offended you. Take care and be safe.
-Dave-
Rude?? Look in the mirror. I've been reading your posts for days now. Anyway, I didn't think so.
-Dave-
I wouldn't count your chickens before they hatch. I think the last thing you would want is for there to be a 'huge turnout'. Keep in mind that Bush was re-elected during the height of the violence in Iraq which, at the time was the stump the democrats were preaching from. Their Bush hating rhetoric didn't work then and there is no reason to believe it will work now by trying to tie Mcain to Bush. Especially with the situation in Iraq stabilizing, much to the democrat's chagrin. The silent majority that believes in God and country, a strong military, working for what you want, and loves America are still here. However, I believe in the democratic system of government and if Obama does happen to be elected I will accept it and support him until he gives me a reason not to support him because that is what the American people wanted. I will also open mindedly allow him the opportunity to win my vote for re-election if I believe he deserves it. That's more than what you can say isn't it?
-Dave-
Well that is certainly a mature and constructive endeavor. Keep up the good work.
-Dave-
WOW! Obama spoke today and markets ROCKET!! DOW UP 1000 points!!!
.......Please. You have got to be kidding me. So, I guess I could say that Mcain's speeches today in NC and VA made the market go up 1000 points and it would have the same credibility and relevance right?? Even the Obama supporters know that the market is already pricing in an Obama election...to the downside. Today was an oversold relief rally..no more no less.
-Dave-
What is there to compare?? Clinton sat in office during a market crash and so did Bush. Eerily similar IMO.
-Dave-
IMO...no. I didn't benefit nor suffer from Bush's tax breaks. Personally, I would rather see a fair/flat income tax. Or, I would like to see us go to a sales tax revenue system. In any case, to target and classify an individual by defining that individual by how much they earn in and of itself is class warfare. Is that not pressuring the payroll tax also?
-Dave-
Critics of Senator Barack Obama make a strategic mistake when they talk about his "past associations." That just gives his many defenders in the media an opportunity to counter-attack against "guilt by association."
We all have associations, whether at the office, in our neighborhood or in various recreational activities. Most of us neither know nor care what our associates believe or say about politics.
Associations are very different from alliances. Allies are not just people who happen to be where you are or who happen to be doing the same things you do. You choose allies deliberately for a reason. The kind of allies you choose says something about you.
Jeremiah Wright, Father Michael Pfleger, William Ayers and Antoin Rezko are not just people who happened to be at the same place at the same time as Barack Obama. They are people with whom he chose to ally himself for years, and with some of whom some serious money changed hands.
Some gave political support, and some gave financial support, to Obama's election campaigns, and Obama in turn contributed either his own money or the taxpayers' money to some of them. That is a familiar political alliance-- but an alliance is not just an "association" from being at the same place at the same time.
Obama could have allied himself with all sorts of other people. But, time and again, he allied himself with people who openly expressed their hatred of America. No amount of flags on his campaign platforms this election year can change that.
Unfortunately, all that most people know about Barack Obama is his own rhetoric and that of his critics. Moreover, some of his more irresponsible critics have made wild accusations-- that he is not an American citizen or that he is a Muslim, for example.
All that such false charges do is discredit Obama's critics in general. Fortunately, there is a documented, factual account of what Barack Obama has actually been doing over the years, as distinguished from what he has been saying during this election campaign, in a new best-selling book.
That book is titled "The Case Against Barack Obama" by David Freddoso. He starts off in the introduction by repudiating those critics of Obama who "have been content merely to slander him-- to claim falsely that he refuses to salute the U.S. flag or was sworn into office on a Koran, or that he was born in a foreign country."
This is a serious book with 35 pages of documentation in the back to support the things said in the main text. In other words, if you don't believe what the author says, he lets you know where you can go check it out.
Barack Obama's being the first serious black candidate for President of the United States is what most people consider remarkable but how he got there is at least equally surprising.
The story of Obama's political career is not a pretty story. He won his first political victory by being the only candidate on the ballot-- after hiring someone skilled at disqualifying the signers of opposing candidates' petitions, on whatever technicality he could come up with.
Despite his words today about "change" and "cleaning up the mess in Washington," Obama was not on the side of reformers who were trying to change the status quo of corrupt, machine politics in Chicago and clean up the mess there. Obama came out in favor of the Daley machine and against reform candidates.
Senator Obama is running on an image that is directly the opposite of what he has been doing for two decades. His escapes from his past have been as remarkable as the great escapes of Houdini.
Why much of the public and the media have been so mesmerized by the words and the image of Obama, and so little interested in learning about the factual reality, was perhaps best explained by an official of the Democratic Party: "People don't come to Obama for what he's done, they come because of what they hope he can be."
David Freddoso's book should be read by those people who want to know what the facts are. But neither this book nor anything else is likely to change the minds of Obama's true believers, who have made up their minds and don't want to be confused by the facts
http://townhall.com/columnists/ThomasSowell/2008/10/07/the_real_obama?page=2
Let me see if I am grasping this correctly...several on here are using an investor's/trader's website to stump for a candidate who will tax anyone making over $250,000 and wants to raise the capital gains tax. Am I the only one who sees the hilarity in that? All I see in Obama is a focused attempt from the bully pulpit at redistribution of wealth, polarization of the American people and more class warfare. I am not a wealthy Wall Street pig. I am an individual that began his career making $14,500 a year. Through work and intelligent saving and investments I have managed to retire 5 years early and enter my second career as a full time trader. Now, I'm supposed to give up what I worked for and be penalized for it? I don't think so. Perhaps your diligent and zealous efforts will be better served on the AOL message boards where the AOL straw poll shows Mcain well ahead of Obama. I'm also at a loss as to why, in the interest of fair and balanced debate that this poll, as well as it's historical rate of accuracy has not been mentioned by anyone. Pay close attention to this poll. The simplicity of it is it's beauty. No targeted demographics, no 'scientific' weighting, no battery of pollster questions, etc. All it asks is just one simple question of ordinary Americans sitting in front of their computers..who are you voting for?
-Dave-
I don't think the FBI investigation has been a factor in any PPS movement whatsoever. I'm at a loss as to how it could be when any bad news is already well priced into this stock. I mean, what else can negatively be done to the stock short of halting it's trading. I just don't see folks bailing out because the FBI is investigating individuals that are most likely not even with Lehman anymore. IMO The only news that can adversely affect this stock would be news canceling the shares when the bankruptcy exit plan is revealed. Until then this stock will move on supply and demand principles. JMO and thanks for your honest efforts on this board.
-Dave-
Correction...got this one-----
Bain, Hellman & Friedman Tie-Up For Lehman Asset Mgmt-SourcesLast update: 9/23/2008 12:45:31 PM
By Marietta Cauchi and Victoria Howley
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Buyout firms Bain Capital and Hellman & Friedman are working together to buy Lehman Brothers Holdings Inc.'s (LEH) asset management business, people familiar with the situation told Dow Jones Newswires Tuesday. The investment management business being sold includes Lehman's private equity and hedge funds business as well as Neuberger Berman. Lehman's private investment management business is no longer included because it was part of the investment bank's North American assets bought by Barclays PLC (BCS) last week. Initially valued at between $5 billion-$6 billion, the unit price has dropped below $5 billion, one person said. In addition to losing part of the business to Barclays, the longer negotiations drag on the more likely it is that worried investors will withdraw funds, diminishing the unit's value. A deal was expected a few days ago. But with global operations - and several owning entities - negotiations are complicated, people said. It is unclear whether there are any other serious contenders for the business. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@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/al?rnd=mxZ09luYJZP8Iqr2QrN8MA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 23, 2008 12:45 ET (16:45 GMT)
Can you post a link please...I've got DJ newswire streaming and haven't seen either one of these last two news reports. TIA
-Dave-
No..this is what Barclays has of Lehman..Nomura Holdings is bidding for other operations and Private equity is trying to get Neuberger Berman.
-Dave-
In the revised deal, Barclays would absorb about $47.4 billion in securities and assume $45.5 billion in trading liabilities, attorneys said. The original deal called for $72 billion in securities and $68 billion in trading liabilities.
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Miller said the purchase price for the real estate components of the deal would be $1.29 billion, including $960 million for Lehman's New York headquarters and $330 million for two New Jersey data centers.
Miller said Lehman's original estimate valued its headquarters at $1.02 billion but an appraisal from CB Richard Ellis this week valued it at $900 million.
In other changes to the deal, Barclays will no longer purchase Lehman's Eagle Energy unit. It will acquire entities known as Lehman Brothers Canada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and its Private Investment Management business for high net-worth individuals.
Lehman, however, will retain $20 billion of securities assets in Lehman Brothers Inc that are not being transferred to Barclays, they said.
Lehman itself as a company has not been bought. Just pieces and divisions of it. Good thing I'm not investing..just trading it!
-Dave-
No...this is a pump.
-Dave-
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32339718
We should...just take profits and stick to your stops.
-Dave-
Post of the day.
-Dave-
You should be looking pretty good right now then...good job. Make some money!!
-Dave-
Well, the premarket bid depth certainly doesn't support alot of their comments...7 deep at .215...besides if there are any shorts still in this stock that haven't covered by now, they shouldn't be shorting stocks to begin with. Sadly, there will probably be more people concerned with being right about the direction this stock is ultimately going instead of trading what's in front of their face and making some money.
-Dave-
Not even close. As long as there's volume there is money to be made.
-Dave-
I'm gonna take a poke and say you did!! I've never understood the need by others to criticize other's buy and sell decisions regardless of the stock. Childish.
-Dave-
I do too...and then it will go back up, then back down, and then back up again...that's what stocks do. And honestly, nobody cares what me or you, or anyone else thinks about the deals. All that matters is what the general consensus of opinion is. As of now the general consensus is positive and it would pay to trade with the trend of that consensus be it LEHMQ or any other stock for that matter. GLTY.
-Dave-
Nomura Wins Auction Of Lehman Brothers Asia Assets - SourcesLast update: 9/22/2008 2:11:38 AM
By John Jannarone and Costas Paris
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--Japanese brokerage Nomura Holdings Inc. (8604.TO) has won an auction of the entire Asian operations of bankrupt U.S. investment firm Lehman Brothers Holdings (LEH), two people familiar with the matter said Monday. "It should become official later today," one of the people told Dow Jones Newswires, declining to specify the amount Nomura will pay. A spokesperson for Nomura declined to comment. Standard Chartered PLC (STAN.LN) and Barclays PLC (BARC.LN) also placed bids for the assets, but Nomura offered the highest price, a second person said. The assets include all of Lehman's operations in Asia, where it employs about 3,000 people. Rival investment firms in Asia have told Dow Jones Newswires that they are seeking to hire bankers from Lehman's corporate finance and capital markets divisions. Barclays last week agreed to pay $1.29 billion for Lehman's Manhattan headquarters and two data centers in New Jersey. It will pay another $250 million for Lehman's U.S. business operations. Nomura and Barclays are contending for Lehman's European operations. -By John Jannarone, Dow Jones Newswires; 65 6415 4153; john.jannarone@dowjones.com -Atsuko Fukase in Tokyo contributed to this report. 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/al?rnd=ALzPELgYWIxw1xSbTuiWsg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 22, 2008 02:11 ET (06:11 GMT)
And they said Lehman going under wasn't a systematic risk....Everything that happened last week can be directly connected in some way to Lehman Bros.
-Dave-
I don't know..but, I will tell you this. NEVER buy at the opening bell. You will get crushed when the profit takers dump their Friday shares shortly after the open...especially if it gaps up. Wait for a little bit and watch it...you're not going to miss anything. All you need to look for is a bounce after a pullback and the stock going into an uptrend for the day. Like I said, no need to 'hurry up' and get in. All you need to concern yourself with is confirming that the stock has entered an uptrend and staying within support and resistance levels...at least in the near term. The rest will take care of itself. Just set your stops and stick to them. JMO/GLTY
-Dave-
That was my thought exactly...lol! Somebody wish them luck on getting the money returned because they're gonna need it.
-Dave-
I'm not sure how the Barclays deal will affect the stock price..it's all going to be a matter of perception by traders/investors. Only the open will tell us. However, in my opinion, it's not really all that important to traders. All they are looking for is volume and PPS movement, and LEHMQ has both and that will attract plenty of traders regardless of what the Barclays deal consists of. I banked profit and reloaded several times on Friday and plan on doing it again on Monday regardless of Barclays. I've never seen a stock trade so perfectly on technicals as LEHMQ did yesterday. Buy on the 15 minute chart middle bollie or 10DMA and sell at the top bollie band. Wait for it to retrace to support and do it again! Keep a tight stop though because you're playing with a rattlesnake!
-Dave-
UPDATE: Judge OKs Sale Of Lehman Brothers Units To BarclaysLast update: 9/20/2008 1:24:53 AM(Updates with details from hearing, background)
By Chad Bray and David McLaughlin
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones) - A federal judge early Saturday morning approved the sale of the U.S. broker-dealer and investment bank operations of Lehman Brothers Holdings Inc. (LEHMQ) to Barclays PLC (BCS) over the opposition of creditors. Judge James Peck of the U.S. Bankruptcy Court in Manhattan signed off on the deal after a marathon eight-hour hearing that started Friday afternoon in front of a packed courtroom that spilled into two other courtrooms. Lawyers applauded as the judge left the bench after signing off on the deal. Peck said rejecting the deal "could prove to be truly disastrous" given the jobs and customer accounts at stake. The harm to the global economy of not approving the sale would be "incalculable." "Lehman Brothers became a victim, in effect the only true icon to fall in the tsunami that has befallen the credit markets, and it saddens me. I feel I have a responsibility to all of the creditors, to all of the employees, to all of the customers, and to all of you," Peck said. Harvey Miller, Lehman's bankruptcy attorney, told Peck that approving the sale was crucial for the stability of world financial markets, thousands of Lehman employees, and Lehman customers. Not approving the deal, he said, would be "a miscarriage of justice and a detriment to the national interest." The Lehman unit being sold, Miller told Peck, would be "finished as an operating business," if the sale wasn't approved at the hearing. "It will not have any value to anybody," he said. "The dangers here, your honor, are extraordinary." Barclays had agreed to pay $1.29 billion for Lehman's Manhattan headquarters and two data centers in New Jersey, after Lehman and the U.K. bank reached an agreement over the appraised value of the headquarters building. Barclays initially agreed to pay $1.5 billion for the properties. Barclays' is paying $250 million for Lehman's business operations. The deal saves about 9,000 Lehman jobs. Miller suggested Lehman may have been saved if the federal government had announced earlier than this week its sweeping rescue package intended to calm the turmoil that ravaged financial markets this week. Daniel Golden, an attorney for a group of investors that own $9 billion of Lehman bonds, asked Peck to hold off approving the sale, saying the government's bailout plan could benefit Lehman and boost the value of the assets being sold. Golden also pointed to testimony at Friday's hearing that the marketing process for Lehman's assets "was basically nonexistent." Lehman, he argued, has not established that the Barclays deal is the best. "We believe this was a flawed sale process with respect to the assets, a process that appears to benefit only Barclays and the federal government, but not the creditors," Golden said. But Peck rejected those arguments. He said the Barclays sale was "the only available transaction." "It is very apparent to me that for a transaction of this sort to happen, only Barclays can do it, only Barclays has the support of the regulators, only Barclays is prepared to close, only Barclays can deliver the customer accounts to safe harbors," he said. Friday's hearing began when Miller and other attorneys for Lehman announced "major changes" to the Barclays sale that will reduce the total value of the deal, first estimated at $1.7 billion, by $200 million following lower appraisals for Lehman's real estate. Under the revised terms, Barclays would acquire about $47.4 billion in securities, down from $72 billion in the original agreement, and assume $45.5 billion in trading liabilities, down from $68 billion. The changes reflect volatility in the markets this week and the unwillingness of some counterparties to trade with Lehman or release collateral, lawyers said. Some 300,000 trades Lehman attempted to execute failed in recent days. The Lehman sale got a key boost Friday when the committee representing unsecured creditors said it would not oppose the sale. Luc Despins, an attorney for the committee, told Peck that while creditors didn't oppose the sale, they also were not "affirmatively supporting" it. "The reason we're not objecting is really based on a lack of a viable alternative," he said. Peck's approval comes just days after Lehman crashed into bankruptcy early Monday morning after its scramble to find a buyer over the weekend had failed. Its collapse is one of a series of events in the past week that have wreaked havoc on the world economy. In the span of days, Merrill Lynch & Co. Inc. (MER) agreed to sell itself to Bank of America Corp. (BAC), the federal government announced an $85 billion bailout of insurer American International Group Inc. (AIG) as well as a plan to buy mortgage securities that have ravaged banks and financial institutions around the globe. Lehman was pushing to secure approval of the sale Friday night or it risked seeing the value of the assets waste away, it said. In fact, Lehman chief operating officer Herbert H. McDade testified Friday that at the time the deal was reached with Barclays, Lehman's broker-dealer business had $1.3 billion in cash, $700 million of which would have gone to Barclays. Now there is virtually no cash left, lawyers said, after the Chicago Mercantile Exchange unilaterally closed Lehman's trading positions on the exchange. Some creditors, including hedge funds Harbinger Capital Partners and GLG Partners, raised objections to the sale over the last-minute transfer of billions of dollars from Lehman's European unit, Lehman Brothers International (Europe), to the U.S. The administrators of the European unit, Lehman's European broker dealer, which is in an insolvency proceeding, said in court papers filed Friday that their preliminary investigation has revealed that $8 billion was transferred from the European unit "to and/or through" Lehman Brothers Inc., the unit being sold to Barclays, and Lehman Brothers Holdings Inc. on the Friday before the bankruptcy. David Rosner, an attorney for Bay Harbour Management, said the transfer needed to be investigated. Lehman, he said, can't sell assets to Barclays it doesn't own. "That money disappeared, and that money is gone," he said. But Peck and Miller pointed out that no cash is being transferred to Barclays. "In practical terms we should be safe," Peck said. -By David McLaughlin and Chad Bray, Dow Jones Newswires; 201-938-4296; david.mclaughlin@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/al?rnd=N54QYkMipilYn3e9D6g2rg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 20, 2008 01:16 ET (05:16 GMT)
By Chad Bray and David McLaughlin
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The creditors committee of Lehman Brothers Holdings Inc. (LEHMQ) has no plans to object to the acquisition of the bulk of the investment bank's assets by Barclays PLC (BCS), a lawyer for the committee said. At a hearing Friday, Luc Despins, a lawyer for the official committee of unsecured Lehman creditors, said the committee won't oppose the transaction because there is a "lack of a viable alternative." Despins said the committee isn't affirmatively supporting the deal because of the insufficient time available to conduct due diligence. "We're dealing with extraordinary circumstances," Despins said. A U.S. bankruptcy judge in Manhattan is considering whether to approve selling the U.S. capital-markets and investment-banking business to Barclays at a hearing Friday. Lehman sought bankruptcy protection on Monday. -By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com -By David McLaughlin, Dow Jones Newswires; 201-938-4296; david.mclaughlin@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/al?rnd=Tuf6jlTSR9asUD3iYofXbg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 19, 2008 18:38 ET (22:38 GMT)
Nomura,Barclays,3rd Party Bidding For Lehman European Units-FTLast update: 9/19/2008 6:59:49 PMDOW JONES NEWSWIRES Nomura Holdings Inc. (NMR), Barclays PLC (BCS) and a third party are bidding to acquire Lehman Brothers Holding Inc.'s (LEH) European corporate finance division, the Financial Times reported Friday, citing people close to the situation. A deal could come this weekend. The sources said Nomura and Barclays have held talks with administrators over the last few days over the European equity, fixed-income and mergers and acquisitions businesses. The FT also reported PricewaterhouseCoopers LLP, the administrator to Lehman Brothers' European businesses, requested Lehman Brothers Holdings Inc. repatriate $8 billion that had been transferred to the U.S. holding company before its collapse. Full story at http://www.ft.com/cms/s/0/635b32de-8684-11dd-959e-0000779fd18c.html -Dow Jones Newswires; 201-938-5500 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/al?rnd=Tuf6jlTSR9asUD3iYofXbg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 19, 2008 18:59 ET (22:59 GMT)
That's kind of what it seems like but, I'm no expert at that type of stuff...in any case, I think that even with the divisions that Barclays is buying there will still be a huge piece of the pie left. Whatever ends up happening this is now a pinkie and should be treated as such....albeit a pinkie that is fully reporting and transparent! The run it had today was what it was supposed to be. It ran soundly on the theory of supply and demand like a stock is supposed to and didn't suffer from a pinkie CEO dumping shares into a rally. Chapter 11 or not, the share structure of around 600m is still intact and will react positively as it thins due to more buyers that hold for more than 5 minutes. That's not meant to be a slur on flippers, It's just a point of fact. I made a killing today scalping this...so, to each, their own.
-Dave-
UPDATE: 'Major Changes' Announced In Barclays-Lehman ProposalLast update: 9/19/2008 5:30:21 PM(Updates in third paragraph with reason for changes in securities purchased and liabilities assumed under deal.)
By Chad Bray and David McLaughlin
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Under revised terms announced Friday, Barclays PLC (BCS) would purchase less securities and assume fewer liabilities in its proposed deal to acquire Lehman Brothers Holdings Inc. (LEHMQ). At a hearing Friday, Harvey Miller, one of Lehman's bankruptcy lawyers, announced major changes in the proposed deal. A bankruptcy judge in New York is expected to hold a hearing later Friday on whether to approve the deal. The changes reflect volatility in the markets this week and the unwillingness of some counterparties to trade with Lehman or release collateral, lawyers said. Under the revised terms, Barclays would acquire about $47.4 billion in securities and assume $45.5 billion in trading liabilities. Under the original proposal, Barclays would have purchased $72 billion in securities and assumed $68 billion in trading liabilities. Barclays' goodwill payment of $250 million is unchanged. The severance payments that could be paid to thousands of Lehman employee also won't change. The Lehman headquarters building in midtown Manhattan and two data centers in New Jersey also are expected to be purchased at appraised value under the deal. The value for the headquarters is unchanged at $950 million to $1 billion, but the appraised value for the data centers is lower than expected. -By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com -By David McLaughlin, Dow Jones Newswires; 201-938-4296; david.mclaughlin@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/al?rnd=Tuf6jlTSR9asUD3iYofXbg%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresSeptember 19, 2008 17:30 ET (21:30 GMT)
A shame??? Banked at .115 and getting ready to reload..didn't take a rocket scientist to see that one coming. Yeah..a shame alright! Just got some more shame!!
-Dave-
The SEC news doesn't 'require' anyone to cover that is already short...it just keeps new short positions from being initiated in select financial stocks. Also, Market Makers etc. can still short and we're in pinkieland where it's usually MM's that short a stock to oblivion anyway. So, as much as I'd love to see a big shortsqueeze, I'm not getting my hopes up.
-Dave-
Similar to the Amended July Emergency Order, we are providing a limited exception for certain bona fide market makers. We believe this narrow exception is necessary because such market makers may need to facilitate customer orders in a fast moving market without possible delays associated with complying with the requirements of this Order.
IT IS THEREFORE ORDERED that, pursuant to our Section 12(k)(2) powers, the following entities are excepted from the requirements of the Order: registered market makers, block positioners, or other market makers obligated to quote in the over-the-counter market, in each case that are selling short a publicly traded security of an Included Financial Firm as part of bona fide market making in such security.
In addition, we are providing an exception to allow short sales that occur as a result of automatic exercise or assignment of an equity option held prior to effectiveness of this Order due to expiration of the option.
It's possible but, I would venture to say that whoever was short in this has already covered...don't look for a short squeeze here. It also doesn't apply to existing short positions but, only bans new short positions. In any case, I'm rather irritated about all of it...where was this great recovery plan 2 weeks ago? The writing was on the wall even that early. I was a long term shareholder of LEH and got shaken out when it hit the teens/low 20's. This is my favorite part of the ruling....."The order may be extended beyond 10 days if the SEC deems an extension necessary in the ((public interest and for the protection of investors)), but the order will not be extended for more than 30 calendar days in total duration, it said."..it should have read "for the protection of everyone but, LEH investors."....at this point I'd rather sue the government rather than LEH. Last I checked everyone was entitled to equal protection under the law. Oh well..that's my rant for the day. Let's make some bank!!
-Dave-
Anyone buying this should understand that like you said, there is no definable bottom here...there are lot's of institutions that probably still hold shares..they'll be unwinding positions for at least the next few days. There is no need to 'hurry up' and get in this...nobody is gonna miss something.
-Dave-
I was a long time holder and got shook out in July...couldn't take the pain. Then bought back in August..flipped it back in forth a few times since then when it was in the teens. Now I'm back in and holding.
-Dave-
What's up TPT! Hope everything is going well.
-Dave-
That's of course possible, and most likely probable. But, keep in mind that even though it's on the pinks, it's not run by your cookie cutter pinkie CEO. This stock is going to be a vital continuing source of liquidity for them...I would venture to guess that they're not going to allow too many games to be played with it and most importantly, unlike most pink CEO's they know how to keep the games from being played.
-Dave-
What you are seeing is correct...and it's printing premarket at .145...as bad as this sucks think about the bright side..We are holding shares in a fully reporting with audited financial pinkie!!! What in the world are the bashers gonna do??! Seriously though, this may well be worth a hold rather than a flip...all of the deals LEH has put together have been for the purpose of raising cash. IMO the purpose of raising cash is to follow through with their original plan of spinning off their debt into a separate company and get the debt off their books. Once that happens one of two things will happen. LEH will eventually make a return to the NYSE as it's own company again or, Barclays will go ahead and buy the remainder of their company once it's cleaned up. The majority of LEH's debt is in their real estate holdings. Anyone with half a brain knows that real estate markets go up and they go down and this real estate market will go up. Their real estate holdings, like everyone elses, are worth less than they paid for them. No more, no less. So, my point is, even if they sell off their 'good' divisions, once the real estate market turns this company will have plenty of value and assets. In any case, it will certainly be more valuable than anything else trading in the pinks. This is not that bad a deal if you can think past the chapter 11. In any case this will be a tremendous opportunity for the daytraders/flippers...good PPS action and tons of liquidity. GLTA.
-Dave-