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Hopefully it will be a good week for us. I just dont trust Along lol..
Yet we all know you still trade this stock..
Along must be crying somewhere right now lol
Remember last year when it went $2 to $3 in one day? Hopefully that can happen again
Caught red handed haha
Next weeks bottom price?
Next weeks bottom price?
Next weeks bottom price?
Haha he could have got preferred FNMAS shares for less than that price today
Right on with that! In my opinion either buy a lil now and average down OR wait and hold out for Low 1 range if that ever happens again
I use Merrill Edge and yes i can put market orders for OTC but it requires a safe pass code on certain stocks. Not sure about eTrade.
My market buy first showed executed at $3.505. I called my broker and they reversed it because this was a glitch in the OTC system. So im in at $1.72
What on earth are you talking about? Many people are bullish on here!! I'm in at $95 and will get more batches if it falls to certain limit orders I have set
Exide in Chapter 11 Exit Plan Talks, Probing Inventory
16 minutes ago|Dow Jones
By Peg Brickley
Exide Technologies (XIDEQ) is in talks with some of its senior lenders about a bankruptcy bailout but is struggling to get a handle on an inventory overstatement at a Missouri plant.
News that Exide's board is probing "the size, scope and duration of the inventory overstatement" and can't complete its financial reports comes as the troubled battery maker is under pressure to find a way out of Chapter 11.
Exide filed for bankruptcy protection in June 2013 and on Monday announced it had received a nonbinding reorganization proposal from holders of a substantial majority of its senior debt which means fresh cash for the company. What that proposal means to junior creditors, including trade suppliers, hasn't been revealed. Attorneys for the official committee of unsecured creditors in Exide's Chapter 11 case didn't respond Wednesday to a request to discuss whether the panel has been invited into the talks.
The company declined comment and refused to say whether the senior lenders that have offered the reorganization proposal have the voting power to push it through court. Exide has until July 31 to get a Chapter 11 plan on file with the U.S. Bankruptcy Court in Wilmington, Del.
The plan will detail what Exide says would be a reorganization funded by a "sizable investment of new equity capital," approximately $300 million, plus new debt of about $185 million.
The unofficial noteholder committee includes investors that own some of Exide's $675 million senior secured notes and, in some cases, part of Exide's bankruptcy loan. Some of the senior investors would backstop both the equity raise and the new debt issuance, the company said in a press release.
An attorney for the secured lender group couldn't be reached Wednesday to discuss the level of support for the proposal. Among Exide's secured lenders are MacKay Shields LLC, Alliance Bernstein High Income Fund, Contrarian Capital Management LLC and D.E. Shaw Galvanic Portfolios LLC and other affiliated funds.
In the meantime, revelations of an inventory miscount at the Canon Hollow, Mo., recycling facility are preventing the company from signing off on its annual financial reports for the year ended March 31, 2014, according to a filing with the Securities and Exchange Commission.
Canon Hollow is one of Exide's two remaining battery recycling operations, sources of cheap lead, an important raw material for the company's manufacturing operation. Exide's Vernon, Calif., plant was shut down as hazardous earlier this year, a loss that Exide said would erode annual earnings by an estimated $15 million to $38 million.
In its SEC filings, Exide said it is unable to say when its investigation of the Missouri inventory misstatement would reach a stage that would allow the company to file its annual financial reports.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
Write to Peg Brickley at peg.brickley@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
July 02, 2014 14:16 ET (18:16 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
Hey dt. Can you please add me to the longs list? Holding a core here got in at .25 and will load more on dips.
And Detearing. I've been reading your posts since FNMA board. Thanks for opening my eyes to this stock..
Bought in today and have more buy orders set if it drops. Done my research and although this is a high risk company, they seem like they will pull through. Their products sell at major retailers like home depot, american tire depot, etc according to their website.
Hope this works
Go Exide
Any idea on a good entry point if it dips?
Ahh im finally making some $ on this. Hopefully keeps rising on random days like this. Any update on the BK case? Are we going to survive or will shares be wiped out?
I sure hope so. I did miss the boat on that airline stock you mentioned along with several other boats where distressed companies eventually rebounded. Timing is everything..
Go XIDE(Q)
Bought into my first batch today at .249 and will get more around .20 if that happens. Hope this works!!
Go XIDEQ
what is the best FNMA preferred shares and why?
Yeah I had that same problem yesterday, not being able to buy on the mobile phone app. But I got lucky cuz I ended up getting in today for cheaper pps. I just set up some buy limit orders during pre hours this morning to catch the downswing. Anyways yeah I need a new broker!
I also have a Merill Edge cash account and I believe you may need to enroll in the Safe Pass card which is an added security feature they have. All year I have been able to buy and sell Fnma without the card even though I had it, but on Friday when I tried to buy some shares, it prompted me to enter the code from my card. The card has a button and a screen which displays a unique code whenever you press the button. Its free to enroll and hopefully this helps.
GLTA and lets make some $$$
Thank you Veterantrader and Reasonable! Out at $3.40 right after i realized both of you had the same opinion about the drop and gap fill. Im now looking for a re entry point. Any thoughts?
GLTA
Yes $5.44 for the short term is a realistic base!! Today however, or atleast this week, I see $3 on the horizon imo. Feels good to not have to chase right now, longs rejoice!!
$3 today is possible imo :)
Correct. I also find it interesting that big drops have had these perfect bottoms. As in they stop at exact intervals such as $1 during the big drops a few months ago for fannie or $2 in this case for freddy. If the way we are reading this is correct, it may mean that bigger funds or whoever is driving price is really watching over these bottoms IMO
GLTA
During yesterdays drop, fnma sibling did not go less than exactly $2. Is it possible that 2 is the new 1? As in 2 being the new bottom. If so isn't that good? Glta
Q3 around the corner!! Hopefully the green light for power buy volume comes on soon. Then green early Christmas for everyone, imo. $$ FNMA
Can someone say flip flopper
We need to break $1.89 for a real 3rd run imo. Hopefully it happens this time (unlike the q2 earnings mini run that couldn't crack $1.80)
Lol. Beambe only talks on red days
How can FMCC uplist to NYSE if its low today on Google finance shows to have come down to .98 cents at one point? I thought a ticker needs to stay above $1 for a certain period of days or months for them to qualify for uplisting correct? Hasn't this been ruined or am I missing something? and obviously if FMCC cannot uplist then I don't think FNMA would either since its both or none.
Same thing in late July the last time this sink occured. I remember FMCC went below $1 at some point during that day according to the low of day on G Finance. I hope I am wrong as I am still holding. Please advise.
I've got about 8500 shares fnma and 8000 fmcc. I was up a bunch at the peak of the late May run. Should have got out while I was still up obviously but you live and learn. Steadily been adding batches of 1000 shares here and there at different price points with roughly a $2.45 avg pps. I'm down about $25k or so total right now maybe more or less. You guys out there who are holding long and have so much confidence in this better not be a bunch of pumpers because I have alot to lose here as a cautiously optimistic investor. Yes I do my own DD but the manipulation and loss of volume is nerve racking to say the least. Some of you guys swore that earnings and watt confirmation would spark the run but it didn't and you still have the audacity to call it a buy and swearing that "tomorrow the run starts". How about this, lets just all shut our mouths regarding everything other than concrete facts and quit with the opioninated BS. Just ride it out with respect because people are really hurting here. Holefully I can my money back
Still long and waiting...
Welcome back double digit percentage gains!!! Hope to see more of you this month
$$$ FnF $$$
I may try to pick some more at 1.40 then to avg down. I sure hope we pump soon so we can all make $
Nitwit. Can u please be more specific? What are you suggesting?
I'm long fnf but down $12k. Someone please explain why the price keeps sinking if there is so much good news out there right now about fnf (settlments, projected earnings, possible uplisting). I know arca and hedges drive up n down but why has volume gone down so much. I just need some honest answers here. I'm not trying to be negative but its hurting to lose all this money.
GLTA
When are we due for the next upswing? I'm trying to be patient even though I'm down. I will remain long and have faith. What do you guys think? What's the issue n solution to get back to the 3 and 4 dollar level? No negative/hateful answers please cuz u my hands are strong!
Go fnma