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.
DennyCrane, your last post was most insightful. Puerto Rico could likely be the reason that other bond insurers have been selling off of late. IMO.
Hi, great posts. Curious how many shares were shorted today? FINRA will release number in an hour or two. Yesterday only 2000 shorted. Anyone know the latest total number of shares short. Hope good news comes out and they are forced to cover. IMO.
Orr and Synder orchestrated this bankruptcy and had Rhodes waiting in the wings to ram it down everyone's throat. They should be charged with something. IMO.
Rhodes and Orr have/are doing the Governor's bidding. Orr and Rhodes had the Governors agenda planned from BEFORE Detroit filed. This mess highly political from before filing for bankruptcy. IMO.
Canceling the policies? Hope Syncora's lawyers are considering canceling the policies outright. Does anyone know of any similar circumstances, or will Syncora be blazing a new trail? They have a strong argument, and I believe they would prevail if the did sever the policies. A lot depends on how the policies were written, the devil's in the details. IMO.
Syncora will litigate, and most likely win after a long battle. Rhodes took the easy way out, so he could look good in the eyes of the Governor and those looking to have the bankruptcy end, quickly, including himself. Rhodes has shown he is biased. IMO.
Irish, your posts have always been informative. If only management (the board of directors) would give some indication, information about Syncora's future, and their plans for the company. It's difficult to invest in a company that's opaque, hence the illiquidity most trading days. If their was less uncertainty pertaining to what the Borad will do to enhance Syncora in the eyes of investors, I wouldn't fell cautious and a little perplexed, and I would be buying more. IMO.
Snake Snyder and snake Orr's mantra, time is running short, so as to toss creditors under bus and push lackey Rhodes to due just that. And to coerce creditors to accept their terms. Syncora has both the most leverage and most to lose with the casino revenue. IMO.
Snake governor mentioned that he may extend snake Orrs term as emergency manager. Those two will do anything to toss creditors under the bus. Been their plan/goal, priority all along. IMO.
Kevin Orr has definitely shown that he is totally incompetent and their should never have been an emergency manager for Detroit. Dirty Michigan politics, politicians. I wouldn't even visit this state, as bad as Alabama. IMO.
Judge Rhodes a political lackey, also. Will rule what is politically expedient. Now, two counties filed objections to cover their own arsses. Judge will have some political cover by claiming it's the will of the citizens of Michigan to shaft the creditors. Michigan after this will not be a place to do business or to live. Class warfare coming to a town near you. IMO.
Orr is the worst. A low life political lackey, snake. But so is the Governor. And the cowardly citizens of Michigan and surrounding of Detroit, who want to divorce themselves from any responsibility for what happens to Detroit. IMO.
Great posts. Politics and beholden politicians, judges. System too corrupt. The fix was in long ago to hang the bond insurers out to dry. Hope Syncora appeals, any negative ruling, because this can set a bad precedent and damage the insurers future prospects and confidence of investors of bonds. IMO. GLTA.
Detroit is a huge problem for Syncora. Potentially, how much is Syncora on the hook for? I read somewhere well over six hundred million? If we lose every battle, which is possible, especially, with a republican judge, governor, Michigan state house, and Orr calling the shots, how much would Syncora have to pay out? Anyone? GLTA, IMO.
Irish, good work as usual. Reasonable, more like legal mumbo, jumbo, maybe? But I think if we had some good lawyers writing, requesting specific answers to specific questions, who knows? You probably overreached, especially that they cited a previous court case, that they won of course. GLTA, IMO.
Irish are you going to appeal your request for disclosure? Is there a statue of limitations? The insurance dept. refers to the MTA in 2009, I believe. These lawyers are great at covering their collective arses. Wondering if Syncora management is doing anything to have the handcuffs removed. I cannot recall a case where a bond insurer was released from control by an insurance department. At this point maybe no news is good news. GLTA longs, IMO.
40093 shares shorted today a per FINRA, if that means anything. GLTA longs, IMO.
Anyone have current or most recent number of shares that are short. Think I saw it somewhere recently that it was/is approx. 5 million shares. Hope they have to scramble to cover one day. IMO, GLTA longs.
Dilution was always a concern for me. Since management has not thus far, given clear indication of their intentions, plan(s), priorities for the company, investors have cause for concern. I have always been skeptical of management, and still believe they are an arrogant lot. Do they care what happens to common shares? Taken that Board and others hold few shares, you have to be cautious of what the heck the Board of Directors goals/plans are for the company. And given their history, even after the lawsuits, their is the potential that they will do/say nothing of significance. That being said, they can't ignore forever that the Company has survived and is on the cusp of being able to prosper, again. GLTA, IMO.
The continued selling is temporary. It may go to $1.50, but highly unlikely we will see a buck a share. This would be a good time for management to release a positive PR, also highly improbable. So we wait, and if we do stagger to the $1.50 area, time to buy. Great post about MM's having level 3, and a whole lot of patience to accumulate cheap shares. GLTA longs, IMO.
Hose, as they say, never fall in love with a stock. That being said, wish I would have held FMCC a little longer, oh well, would have had to put more aside for taxes, if I did. Playing a few of the marijuana stocks, sold trtc today. That may be the real deal, but as they say, pigs get slaughtered. Taking a ride on my motorcycle to one of the most beautiful beaches in the world, in my opinion. Moving here to Hawaii, was too cool. What a view from my Lani. GLTA, IMO.
I believe there are many investors who would like to buy or add shares of Syncora under two bucks. The lack of volume probably indicates that there are few shares available. It is possible that someone will sell a block cheap, and I for one will be picking some more up. I may have been negative in past but holding on to my shares, understanding that management still has to show their hand. I am guessing we will hear something positive from company in the next month or so. GLTA, IMO.
What changed my opinion on this company, is that they apparently have had good reasons to play possum, so to speak. There strategy/rational for doing so, however, should be over soon, I would hope. IMO, GLTA.
Two reasons to gamble on this stock. Commons have not been cancelled and a low float. IMO.
What a knowledgeable board. Added some today. I posted a long time ago this would be a better buy at $2.00 then at the time it was around 40 cents. That was BEFORE jefferson county was behind us. At this juncture we wait for management to show their hand. It's probably correct to assume that we will know managements plans/priorities after Greenpoint, Leahman, debacle, is settled. Sold some FMCC, so I will continue to add on any further sell off. GLTA, longs. IMO.
MM's, other entities don't like it when retail investors own too many common shares. Wish board or directors of Syncora had more skin in the game. I wonder how much of the float is owned by retail investors? Anyone have the total number of shares that are short? It has held steady at around 900,000 for a long time. Hope management is working on enhancing the company in the eyes of investors. Time will tell. Hoping for all longs that patience will be rewarded. GLTA, IMO.
Only 26,052 shares shorted today, as per FINRA. This would be a good time to release some positive PR, but will probably have to wait until financials released. GLTA, IMO.
34202 shorted today, yesterday 178697 shorted, as per FINRA. Positive sign? IMO, GLTA.
There's still a small gap, from 2.15 to 2.40, was hoping to pick up some. Don't believe we will retrace to that level, on next pull back will add. GLTA, IMO.
Bullish yes. However, there are factors and conditions that one must consider, as to the bond insurer industry. Let us hope there are few and far apart, municipalities, cities that get in hot water. But I believe, we are safe for the next few years. And you betcha, that the insurers will be real careful on what and how they write new policies. Now is the time to be patient and add on any major sell off. Hopefully, by Q3 we will be golden as a bond insurer again. A good analogy is we are out of intensive care and in the recovery room. GLTA, IMO.
I would like to apologize to all. Including the employees of Syncora. The circumstances Syncora had to contend with the past, and the circumstances now a far more complicated then I comprehended. Thank you all board members for educating me as to the potential of Syncora. GLTA, JMO.
I am convinced this management has no interest in common shareholders. What specifically have the done, except hire good lawyers, and an account I don't think is too swift. What was the total G/A for last year?Everything I said prior to earnings is true. They will continue to disclose as little as possible for years to come. They like having little responsibility and less accountability. People on this board say a lot of things with no basis in fact. Examples include, that they will right new business, that they will get up listed. Management of Syncora, like too many Wall Street firms are inept, incompetent, arrogant bozos. No I am not a fired employee, or short, or trying to get cheap shares. Just wish more people had integrity. JMHO.
A paltry 400 million, after how long. What was the G/A? No mention, plan of anything that could enhance confidence in the company to investors. Will likely always stay in the pinks. Little responsibility or accountability. However, these bozos do know how to stay employed. Down Monday. JMHO.
I would be shocked if this management has any plan or intention of getting the shackles off by the NYDFS, of writing new business, or getting off the pinks anytime soon. Why would they? They have way less responsibility and accountability keeping the status quo. Their salaries are the same. Their jobs, positions are priority number one. When earnings are released we will be asking the same questions. There will be a lot more questions than answers. Pure speculative play, but so is FMCC, and what a run they are having. 64146 shares shorted today. JMHO.
None yesterday, 53,257 shares shorted today, as per FINRA. IMO.
That Syncora is a penny stock and at the whim of the MM's, it can turn illiquid, suddenly. Sustained volume is key to consolidating higher. IMO.
Appeal by syncora turned aside by higher court to revive 1.8 billion claim against Greenpoint mortgage. Read article in Law360. IMO.
Rock, Management will disclose as little as they possibly can. They like being secretive and negative. They have no sense of urgency to do anything. Their jobs are safe for the foreseeable future. Today not one share was shorted as per FINRA. IMO.
Hose, got your wish. I lied, sold some, still own shares. You like management, I can't stand them. Arrogant secretive bunch. I wish they would sell the Company. Anyhow, good news, hope it was for at least 400 million, but doubt it. Will management disclose how much they spent on lawyers, and G/A in upcoming financial? And we have no idea if they have any plan to get the NYDI shackles off and apply to a major index. IMO
My last post. Sold my position recently. Happy to move on. Still feel management of syncora cannot be trusted. Happy holidays, to all. GLTA. IMO.