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I believe the point he was making (whether I agree with it or not), is companies that *invest* in JBII.
If Chrysler dumps their plastic on JBII, is that investing in JBII? If RockTenn agrees to allow JBII to "drill" on their property, at JBII's expense, did they invest in JBII? (Maybe with man-hours, but not an actual monetary investment).
I'm not interested in turning this into a huge debate, but this is the wording from the PR:
The Company is deeply concerned about the recent significant trading activity and stock price decrease, which were unaccompanied by any Company disclosures during the 48 hours prior to receiving the Wells Notice. The Company was unaware of the notice until shortly prior to its receipt, and members of management did not trade in the Company’s stock during this period.
Ok, let me try to be more clear. The results, of that test, were not known until it was PR'd. When they PR'd the results, it was at 430, after the results were known by some (but not the majority). Did you even read what I said? I'm talking results (not known) versus the actual test (known).
If this hasn't happened previously (Wells notice), I wouldn't question it. That's all. And you can't deny it did.
One can be interested in JBII and still have a critical eye. Geesh.
Whoa. Slow down. Just a first reaction ... Yes, it was public knowledge. The results weren't though. If they failed the test, my guess is this would have went down sharply (instead of up sharply).
Regardless, show me where I'm wrong in regards to the unusual trading activity a week before the Wells Notice PR was released. It was specifically mentioned in that PR. This was common knowledge and I don't think a long or a short are disagreeing on that one. The reality was that someone or some people unloaded their shares based on that info. It wouldn't surprise me that someone or some people bought based on those stack test results (before it was PR'd). For example, The recent 10Q was public knowledge, and there was great anticipation for that. Meanwhile, it didn't have the same type of run-up that day (my memory could be faulty though).
I definitely stay interested in JBII, and if it wasn't for the SEC/Wells Notice I'd be more convinced ... but geesh, was the volume and PPS increase because of insiders with this knowledge, buying? It's happened before, on the sell side (same refernced Wells Notice). If anything should be investigated, it should be this continued slap in the face.
If someone was a trader, and with the "story" still in tact, I would agree. The one thing that would scare me is "quietly accumulating", waiting for the "run up", and then boom! The SEC drops another bomb.
I think the SEC has done more damage to this stock than any accounting mistakes from 2009.
Didn't he also mention uplisting during that TV show appearance? To the AMEX or something?
Many months later ... what happened to that!?
I'm hoping for a new low (to load up!), so I hope you are right.
I'm just wondering how far this can possibly go. I always say this, C, at it's darkest, right before the bailout, traded at 99 cents. So, let's say $1.00, or $10.00 split-adjusted.
The recent low was $21.40 or $2.14. If this makes a new low, let's say $20.00. C is really worth only 2x the PPS, the PPS during it's darkest hour?
In summary: C on the verge of collapse - $1.00 ($10.00). C many profits later - $2.00 ($20.00). Really?
These prices under $25 have the potential to double your money in 2012. Or that's what I'm starting to think.
With the continued Europe worries, what do you (and all that follow this board) think - Will we see 21.40 soon, the 52 week low? Not today, obviously, but over the next week?
THINK WE WILL SEE 22.00 BY BEOD
Yeah, I would love to find some type of news source out there (real-time). Anyone know of any? I mean, something to get the jist of what's going on. Because something like Marketwatch, you get information like that half-hour to hours later. Oh, so this is why it's going down? Because of *this* buzz that's on Wall street. Well, where can I get that buzz? In real-time (or close to it)?
I mean, the article you linked to was posted at 11:49am. That buzz was there long before 11:49am. And it would have helped with determining whether the downturn (after opening gains) was because of some profit-taking or because of some real news like that.
FYI, that may be your particular broker. For example, with Scottrade, I can trade pre-market starting at 7am (others only allow 8am). Also, I can trade after hours up to 8pm.
The one thing that irks me is that we're not allowed to trade at 4am (when the pre-market really opens). Unfair.
I was watching after hours (which runs until 8pm actually), and C, BAC, JPM, etc. were all down a couple of percent. Larger than normal (after-hours, unless there's some extreme news, usually trades fairly close to the close). I was curious if that news had anything to do with it. But, so far C is up in the pre-market, so maybe it's not a concern. We'll see.
What affect will this have tomorrow?:
http://www.marketwatch.com/story/moodys-downgrades-ratings-on-italian-banks-2011-10-05
I *really* don't get things around here, but I'll try again ...
Do we know the status (facts) of processor 2/3? Do we know anything about the status (facts) of planning/installing/financing processors at the RockTenn facility? Other than these are priorities?
Of course, you are starting to see and will see numerous banks adding/increasing fees. This is in response to government regulation. Citigroup won't be the only one. You understand that right?
But, from that same article:
Last month, Citi said it is hiking the fee on its Basic Banking account from $8 to $10. Customers will be able to avoid paying the $10 fee by either maintaining a minimum balance of $1,500 or by making one direct deposit and one automatic online payment through their checking account each month, said Citi.
how much are other banks down?
market close may 6th. vs now:
citigroup 45.20. 24.39
jpm 45.04. 30.26
ms 25.24. 14.01
bac 12.11. 5.76
in other words it may be more europen debt issues (and fear of recession) than the reverse split
man i hate typing on this ipad!
Hi, do you happen to have a link to, or a source for your information (re: business is booming). Not a basher/shorter, am just curious where you got this good information. Thanks!
I'm curious, did you see the following from their permit (otherwise, I don't see the point you are trying to make):
The finished product is a gel-like substance at normal room temperature and must be heated to 130° – 150 F to effectively transfer it and therefore the finished product is stored in a tank capable of being heated. The tank is normally operated at ambient temperature, but will be heated immediately prior to product shipment. Maximum production for the facility is estimated to be 3,770,000 lbs finished product per year (~555,000 gallons).
So, on a day where the markets are up, and even bank stocks like BAC or JPM were slightly up, why is Citigroup testing and exceeding yesterday's lows?
Don't all publicly traded companies have "Risk Factors"? That often play to the worst-case scenario? Wouldn't that be fair and objective to say?
For example, let's pick the richest company in the world, AAPL. I won't cut and paste the *pages* of Risk Factors they've identified, but here's the last 10Q (notice how if you focused solely on this, and tried to spin it, one would never buy AAPL):
* Economic conditions could materially adversely affect the Company.
* Global markets for the Company’s products and services are highly competitive and subject to rapid technological change. If the Company is unable to compete effectively in these markets, its financial condition and operating results could be materially adversely affected.
* To remain competitive and stimulate customer demand, the Company must successfully manage frequent product introductions and transitions.
* The Company faces substantial inventory and other asset risk in addition to purchase commitment cancellation risk.
* Future operating results depend upon the Company’s ability to obtain key components including but not limited to microprocessors, NAND flash memory, DRAM and LCDs at favorable prices and in sufficient quantities.
* The Company depends on component and product manufacturing and logistical services provided by third parties, many of whom are located outside of the U.S.
* The Company relies on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all.
* The Company’s future results could be materially adversely affected if it is found to have infringed on intellectual property rights
As of June 25, 2011, the end of the quarterly period covered by this report, the Company was subject to the various legal proceedings and claims discussed below, as well as certain other legal proceedings and claims that have not been fully resolved and that have arisen in the ordinary course of business. In the opinion of management, there was not least a reasonable possibility the Company may have incurred a material loss, or a material loss in excess of a recorded accrual, with respect to loss contingencies. However, the outcome of legal proceedings and claims brought against the Company are subject to significant uncertainty. Therefore, although management considers the likelihood of such an outcome to be remote, if one or more of these legal matters were resolved against the Company in the same reporting period for amounts in excess of management’s expectations, the Company’s condensed consolidated financial statements of a particular reporting period could be materially adversely affected.
What I'm asking is that it might not have been JBII that compensated Quality Stocks, but who exactly. Or are you telling me that Quality Stocks, "every now and then", starts posting to message boards without being compensated? (I'm not entirely sure). And if so, why the compensation disclaimer?
And from that disclaimer:
This website, www.QualityStocks.net, provides readers with information regarding publicly traded companies that have retained QS to provide advertising, news and public relations. QS receives compensation from the companies in the form of cash and/or securities in the companies
I'm curious, are you able to reveal who exactly is compensating you for this post? If it's not JBI themselves? Thanks.
Tonight. So my early expectation was that we'd see the markets go up. Maybe we'll close high of day, at end of day. We'll see. Like I said, today is one of those days where I don't have a great read.
Kind of a weird day. Dow is now up 50+ points (so overall markets up momentarily), but C is still down. In fact, of C, BAC, and JPM (3 banks I have on my ticker), C is hit worst of the 3 (though they are starting to come close to each other now).
Jobs data didn't help, but I have to believe that's been priced in. Trade deficit improved (I thought), and that helped, until some comments from some guy at the ECB or whatever.
I definitely don't have a great read on today, as opposed to other days. Wait and see right now.
How long after the split does that happen though? And do you have any links/references to these other banks that have done splits? Just curious.
I'm also wondering if your target of $14 is a little aggressive. When we were at the all-time low (March 9th), when people thought Citigroup might collapse, and before the government stepped in, C was trading at 99cents (pre-split - so $9.90). So, let's say $10. You think we're going to come within $4 of the absolute worst-case scenario for this stock?
I mean, once the government stepped in, to stabilize the bank, it went immediately from $10 to $25 in like 4 or 5 days. And this was before Citigroup started posting quarterly profits. That's why I'm loving the fact that we've been able to get C in the $26, $27, $28 range, etc. People are overselling this stock to the point that we're getting March 2009 prices.
Anyhow, let me know when you start shorting. Good luck!
I wish I had PM capabilities, because you sound like you do some interesting things (re: some quick trades daily, $400 here, $x there, etc).
Maybe on a friday (where you get PM's for free after closing), I'll hit you up and ask you your strategies. LOL!
Anyone else notice that on days where it's going to go really well or bad, there's an "intra-day" wall of 5-5.5%?
Going into today, I was predicting that the high would be: 29.09 (5%) - 29.22 (5.5%). And right now the current high is 29.20. Of course, on days of wild news, it could exceed that. But on these good/bad days, where we are going to be coming close to +5% or -5%, it always gets sold (or bought) around 5 to 5.5%. Now it may close at that level, end of day, but you can pretty much guarantee that it will find those levels as resistance/support.
I'm not entirely positive, and there's always outliers, but this seems to be something that I've noticed.
Picked some up and riding the wave right now. Would love to (over the next day or so), get back to the 31's. Until this stock can show that it can reach the 31's, stay there, and then bust through to the 32's and stay there - I will keep selling in the 31's, and re-buy the dip.
When exactly should we be shorting? And when can we expect $14/share - I wish!!!!
Well, it looks like we saw them!
I've seen a low of 26.61. Really trying to figure out an entry point here. On Aug 22nd it got as low as 25.99, and on Aug 23rd it got as low as 25.40. If I can get anything in the 25's today, I might have to pull the trigger.
EDIT:
On Aug 19th the low was 26.75 and the close was 26.77. I know we reached as low as 26.61 today, but this 26.60/26.70 range seems to be giving some type of support. Although, If we can reach the low again, and break that support, we could see very low 26's (26.teens).
27.51 pre-market, but it's early. Looking for re-entry while wondering why I haven't been quoted and told i'm wrong recently ... lol. Have to keep an eye on the swiss news (if it has any positive implications here)
FYI, I am pro-JBII. So, there's no need for oops type of posts (especially since I didn't say anything other than, oh, here comes a key price point - let's see what happens!).
Unfortunately, I can't be all-in as some as you guys, especially with the Wells Notice (I'm not going to debate whether it's just the equivalent of a parking ticket right now). So, I'm just trying to identify short-term trades until that gets resolved. In other words, if this turns out to be a 'scam', I'll be shocked and amazed (that guy really had ribbon cutting ceremonies and was on TV, etc?, all for a scam - wow), but I'm not going to be holding if it is one. I'll be holding if it isn't! :)
Currently $1.70. Four cents below the 200 day MA. It could get interesting if this goes lower.
EDIT: And then "100 shares" get bought at that ask. Someone is trying to prop up the share price.
An instant message I just sent to my buddy:
-220 right now. C at -5.5%. The low 28's are sort of support (like the 28.20-28.30 range), so it's bouncing off that right now (and then you'll see 28.50-28.60 before it sinks back down). So, if we break through the low 28's, and start hitting 27's -- Timberrrrrrrrr!
EDIT: Low 28's holding up still. Here's another run to the 28.60's (saw 28.70).
You're right. I'll definitely be watching like a hawk. Maybe load-up, grab one of those $1+ swings, sell, and look to re-buy when it continues to get sold.
Mid 28's .. we're already at -5% (as I predicted). It could get ugly. And as I type, we're at 28.30. It could really get ugly.
Better to be lucky than good! (I wonder if any of my recent posts are going to get quoted now! LOL)
EDIT: At this rate (28.teens right now), we'll open in the 27's. It could be a day like this: DOW -400+, C -10% or greater, just a long day of selling, closing at or close to low of day. We'll see.
It's already 29.30 (pre-market), and BAC, for example, is down 7% pre-market. The banking sector is going to get slammed. And the overall markets were already jittery ahead of jobs data.
If we do get good data at 830am, I'm still not sure that will help the banks today. We'll see. Plus, this is September, and all I've been hearing on CNBC is how this is the "worst month for stocks" (another factor in my decision to sell in the 31's). Meaning, it will probably end up being a self-fulfilled prophecy!
Anyhow, bad data, coupled with this news and the overall markets getting hit hard - and well, we'll be looking at at least 28's.
Better to be lucky than good! LOL
EDIT 1: And it doesn't look good. I'm not sure of the news yet, because marketwatch.com hasn't updated itself yet, but my real-time ticker shows C at 29.08 right now.
EDIT 2: Headline - US economy adds no jobs in August. C trading in the 28's right now. I have to imagine that we'll at least be down 5% today. I'd love to see some wild, frantic over-selling so we can exceed that.
More uh-oh! FHFA plans to sue big banks. Everybody is down in the pre-market.
Selling in the 31's was good, now it's looking better. I wonder how this will affect C (and banks) going forward? Meaning more than just today.
Better to be lucky than good! lol
The low on Aug 29th: 30.31 ... fell right through that ... up next the high on Aug 26th of 30.25 ... bounced at 30.24, if it falls through that ... uh-oh!
Remember folks, it's better to be lucky than good!