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pps seems to want to move up.
The best time to get it may be right now; Judge Walrath's green light says it all.
And IMO, certain bank stocks such as WMI will easily outperform all other sector stocks in the short to mid term.
This is truly a unique situation here.
Thanks allicorp.
I would even be willing to contribute a few bucks to help offset any expenses and comp you for your time.
I assume for the letter to be effective and to get a response from Spooz you would need names, addresses and phone numbers so they can compare to the NOBO.
I would also assume you would not be doing this on the board but rather by mail and investors would presumably have to sign a non-disclosure before Paul would even consider a response.
Let me know.
Thx
GT
I guess you get what you pay for.
Tranches offered by JPM downgraded to junk. lol
Interesting. This just came across my news ticker...
*DJ Moody's Cuts Some JP Morgan Tranches To Junk Grade
.
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
June 24, 2009 16:40 ET (20:40 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 04 40 PM EDT 06-24-09
**Brought to you by Scottrader, a product of Scottrade Inc**
That's what I understand too milo.
Sometimes private companies can have an easier time procuring funding over pink sheet companies but I'm not sure of the case here.
GLTY
Yeah. It's going to have to be put into the public record and I'm sure based on todays ruling, the whys and wherefores have already been written. It's just a matter of time before we move off the .10's those pesky MM's love so much.
Gotta love this part...
"I do have exclusive jurisdiction to decide what is property of the estate," the judge said.
Walrath also denied JPMorgan's motion to dismiss a complaint in which Washington Mutual seeks to force JPMorgan to turn over more than $4 billion in deposits."
THX.. was that at ask or bid?
Just curious if anyone here is trying to get a buy order filled and what kind of action you are seeing on your order?
Yeah milo, I thought I read that same disclaimer on other pinks.
Anyway hypemasher, thanks for the hype lol.
Today's news is a victory for WMI et al. The bid is starting to show an awareness of the gold mine here and we could see .18 - .25 in a heart beat now.
Well the software sounds like it's doing ok
and it sounds like Paul knows how to trade with it so if Errol's electronic brokerage works out they could make some serious coin. Maybe even enough to buy back shares of 141 and spooz?
GLTY
Thanks alliecorp, that's what I figured.
I'm willing to stick around for a while and see what 141 puts out. Seems to me despite the setbacks they've encountered that they may in fact be onto something with their brokerage and software. May not be a bad idea to accumulate a few cheapies on the sly and wait and see?
Put a fork in 'em. JPM is done.
It takes a little while for the market in general to digest the data as MM's continue fill basket orders for large clients. Both short and long.
Once retail realizes what actually took place in court today the push begins in earnest.
AIMO
Isn't that a standard disclaimer for all pink sheets that that don't submit financials or was that written just for ONCP?
Flippers with hair triggers and MM's at the ready.
Look for hod @ eod once their shares are taken over.
For the story tellers wanting the pps down for an entry, remember that WMI/WaMu/WMB is the victim here.
Think in terms of WaMu walking down the street minding it's own business one day when suddenly a gang of thugs decides they want what WaMu has and decides to jack 'em.
IMO, the Judge is impartial and will rule based on the underlying fact that WaMu was hijacked. That being the case, JPM will have to back off and compensate WaMu for all the booty and spoils they stole. In other words, the NOL's and commons etc. retain all their pre-seizure legal status.
Any ideas how much JPM spends on legal fees defending itself worldwide?
Sure having a legal department is a cost of doing business but they need the WaMu legal mess like they need another hole in the head. It's got to be a huge drain on resources even for JPM. I think they all ready threw the towel in as know they can't win in court. Meanwhile the pps is artificially being held down for institutional buyers to come in and clean up.
Fake drop. Keep in mind there are some 54 million shares shorted here.
The MM's will be playing hardball to get shares. They are masters at dropping the pps on air in order to scare weak hands out of their shares. Just like they are doing here. Don't be fooled.
Clearly WMI will be vindicated by the courts and the FDIC and JPM (if not voluntarily), will be forced to make WMI whole.
This is a landmark case that will set precedents for how the FDIC operates in the future.
12.6 x 12.8 now.
I wonder how many that sold Friday thinking they'd get back in this week cheaper for another flip are still trying to get in?
Watch for the same type action today as Friday and Monday. Strong open, MM's try to hold it back but never get it under the open. Then the afternoon lull but buy pressure remains strong for a HOD close.
Flippers may be locked out.
IMO.
lol. 16% over open is not a drop.
Same pattern as Friday. The MM's were unable to drop it below open all day then let it go at close.
Gotcha, sounds good tcr7309.
One major distinction you may want to consider when trading here is the fact there is no dilution to contend with, only a diminishing float.
The problem is, Licensed Securities dealers and SEC Lawyers are supposed to have a high standard of ethics and that is what some of us trusted to be the case here.
I don't think for Paul and Errol to put the blame on investors for investing in them is an acceptable answer. Most trusted them to be ethical.
I guess I was looking at it more from a perspective of accumulating shares and not from the perspective of trying to outsmart the MM's for a quick flip because you may not get many filled at the bid. Just watch how the MM's move it around while they fill their customer orders on folks selling thinking they will get in cheaper later.
Now keep in mind the pending outcome of the upcoming hearings and consider that the underlying value here rests on the outcome of those rulings.
Then calculate what the float is and tell me how you are going to compete with the MM's at the bid?
Personally, I wouldn't sell anything until after I hear from the Judge.
Those flipping today will be among those driving it higher by Thursday.
IMO.
Confucius say: ask pressure make pps rise
But the MM's are sure making it hard at one ten thousandths of a penny at a time.
That was round one. The MM's contained it as much as they could. Now steady pressure on the ask and it closes like Friday.
Is that the motion by WMI to accept JPM's commitment to sponsor the WMB savings plan or is it something different?
This week by Wednesday the screws get turned a little tighter on JPM.
IMO, the only holdup has been JPM looking over it's war chest trying to decide what to give up.
What dark pools lurk with baited breath?
IMO, Institutional buyers with deep pockets are looking for investments just like what we have here. The float should be tight with no dilution so if you are going to sell a few to cover your ins, don't be afraid to jack the ask up and make them pay.
Spread the bids out over the course of the day. Make the mm's pay retail. Otherwise, if bids stack up too much at any one time, the MM's will run it up then as soon as they fill the rush they will try to crash it to fill themselves. Steady pressure throughout the day makes them sweat :)
Apparantly JPM had a hand in undervaluing Lehman which contributed to Lehman's bk. Interesting to see where the pps lands once pre-bk value is accurately established.
In the meantime, it looks like it's safe just to hang around here and accumulate while the facts come out. And it seems like JPM is going to be busy accounting for it's doings here and around town for a while.
Right on reader,
but in this case, JPM has only to be concerned with the wrath of one!
Sure. What ya got?
Who said anything about the stolen money?
That's a different subject altogether.
Exactly fsshon and I agree, Weil's in control with this deal.
From here on out for JPM It's about damage control and saving face for them just like they demonstrated they can do with the savings plan compromises.
Expect to see more of the same type conciliatory action from JPM as we move along.
GoWaMu!!!!!!!!!!!!
More than a guess. The fact that JPM reversed it's stance and accepted full exposure in sponsoring the WMB savings plan including fully vesting all WMI and it's affiliates participants in the plan as of January '08.
Posted by: grey Date: Saturday, June 20, 2009 8:43:46 AM
In reply to: None Post # of 77500
JPM settles on WMI employee savings plan.
http://members.cox.net/raggztwitches/Settlement20090619.pdf
Friday's close indicates the holding down of the pps is over.
JPM has already lost and the judge has already given JPM and the FDIC enough time to come up with a damage control plan that lets them save some face.
Come Monday morning watch for PM bids stacking up.
GLTA