is enjoying a new career in health care
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CROX -Still searching for a new bottom (charts below)
SCUR- looks like it want to continue lower....
FRE/FNM received the news they needed for the SEC extension banning short-sales- should provide additional protection against the previous Hedge fund manipulation and allow them to continue the positive up-trend
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31074849
Paragraph of particular interest IMO:
The SEC said late Tuesday it was moving swiftly to propose new rules that would extend the pre-borrow requirement to all stocks. "Following expiration of the extended order, the commission will proceed immediately to consideration of rulemaking which would become effective after public notice and comment," the agency said in a statement. "The purpose of the rulemaking is to provide additional protections against abusive naked short selling in the broader market, while allowing the legitimate short-selling essential to efficient, highly liquid markets."
MESA looking for a continuance of the uptrend? Here's my vote for oil to continue to slide downward! If it breaks .54 it could run above $1 -NICE for all those in
resistance ---2.21
resistance ---1.12
resistance ---0.54
SEC to disallow all naked Short-Sales (see last paragraph)
SEC Extends Naked Short-Sale Ban
Liz Moyer, 07.29.08, 10:51 PM ET
http://www.forbes.com/business/2008/07/29/sec-short-order-biz-wall-cx_lm_0729bizsec.html
Short-sellers who have their guns trained on Wall Street firms will have limited ability to fire for another 10 days.
As expected, the Securities and Exchange Commission late Tuesday night extended an emergency order limiting short-selling in 19 big financial stocks for another 10 days. There will be no more extensions: This one will end two days short of the 30-day limit the SEC has for emergency rules.
At issue is naked short-selling, which the agency thinks threatens the stocks of the primary dealers, including all the big Wall Street firms, plus Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ). This group of companies has been granted access to the Federal Reserve's emergency lending window, and thus are seen as particularly vulnerable to attack by short sellers as the credit crisis continues.
Shorting a stock involves borrowing it to sell and hoping it will fall so the trader can buy it back at a lower price to cover the loan and profit from the difference. In naked short-selling, the trader never actually borrows the stock. The emergency order demands that traders formally borrow the stock in these 19 protected companies before selling it. Before the order, a trader only needed to get a broker to say the stock was available to borrow.
A stock that's in demand for borrowing to sell short typically costs more to borrow.
Hedge fund trade groups have furiously lobbied the SEC to lift the order, saying it makes short-selling in the 19 stocks, which include favorite targets like Merrill Lynch and Lehman Brothers , too expensive and cumbersome.
A number of companies not protected by the order have lobbied to have it extended to their shares, but to no avail. Washington Mutual , National City Corp. and other big banks, not to mention other nonfinancial companies, are still excluded.
The SEC said late Tuesday it was moving swiftly to propose new rules that would extend the pre-borrow requirement to all stocks. "Following expiration of the extended order, the commission will proceed immediately to consideration of rulemaking which would become effective after public notice and comment," the agency said in a statement. "The purpose of the rulemaking is to provide additional protections against abusive naked short selling in the broader market, while allowing the legitimate short-selling essential to efficient, highly liquid markets."
$10k out of his own pocket is impressive to say the least!
Glad to be here, looking forward for us all to see the interest and volume increase as things unfold~
Sounds exceptional... can't help but trust a guy who dumps his own money into his stock!
AAI Nice 20% gainer for today! Chart looks very positive MFI and volume trending up nicely!
IMO- AAI needs significant volume to continue (and oil to stay flat or decline) in order to break through that 3.44 resistance- the chart shows a 3 week period (Apr-May) where resistance was strong. IMO barring news this might trend between 3.00-3.40 for a while unless momo, news or both push it higher.
My best to all in it for now
We've ALL had plays that turned out that way-We can't possibly call them all 100% accurately. I hope your recovery is short and swift!
ABK +15% (chart) bounced off the $1.74 close yesterday
ABK printing 2.07 -chart below
I hope a few of you were able to grab some- nice alert JK!
VCSY DD and links
The court filing is available but settlement amount is NOT disclosed
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31038914
Here are a few more links:
http://www.microsoft-watch.com/content/corporate/microsoft_resolves_vcsy_patent_dispute.html
From SEC filings
http://sec.edgar-online.com/2007/11/19/0001144204-07-062937/Section12.asp
"On April 18, 2007, the Company filed suit for patent infringement against Microsoft Corp. in the United States District Court for the Eastern District of Texas. The Company claims that the Microsoft .Net System infringes U.S. Patent No. 6,826,744. On July 13, 2007, Microsoft filed an answer to the Company's complaint, alleging various defenses and counterclaims. On August 2, 2007, the Company filed a reply to Microsoft's defenses and counterclaims. The court has set trial for March 2009."
NP- I would expect the SEC to provide a continuance to the original guidance and possibly include a few other financials like WM, NCC, AIG etc.
Art- here's some SEC short sale info for today
SEC expected to extend 'naked' short-selling ban
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
SEC Short Sale Guidance -Update below
Watch the following link today for an update
http://www.sec.gov/spotlight/shortsales.htm
Additionally, there is a tremendous amount of pressure on the SEC to extend the rule to other financial stocks that have been devastated by naked shorting
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
Any renewal of the short-sale (ban) rule will be good for those on the current list- any extension to new stocks will be good for those identified in todays update
SEC expected to extend 'naked' short-selling ban
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
SEC Short Sale Guidance -Update below
Watch the following link today for an update
http://www.sec.gov/spotlight/shortsales.htm
Additionally, there is a tremendous amount of pressure on the SEC to extend the rule to other financial stocks that have been devastated by naked shorting
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
Any renewal of the short-sale (ban) rule will be good for those on the current list- any extension to new stocks will be good for those identified in todays update
SEC expected to extend 'naked' short-selling ban
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
SEC Short Sale Guidance -Update below
Watch the following link today for an update
http://www.sec.gov/spotlight/shortsales.htm
Additionally, there is a tremendous amount of pressure on the SEC to extend the rule to other financial stocks that have been devastated by naked shorting
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
Any renewal of the short-sale (ban) rule will be good for those on the current list- any extension to new stocks will be good for those identified in todays update
SEC Short Sale Guidance -Update
Watch the following link today for an update
http://www.sec.gov/spotlight/shortsales.htm
Additionally, there is a tremendous amount of pressure on the SEC to extend the rule to other financial stocks that have been devastated by naked shorting
http://www.businessweek.com/ap/financialnews/D92740Q80.htm
Any renewal of the short-sale (ban) rule will be good for those on the current list- any extension to new stocks will be good for those identified in todays update
ABK $2.00 gapping up pre-market from close of $1.74 yesterday
wow, what driving this?
Remember as of the beginning of July Ambac has been in communication with Moody's and Standard & Poor's in pursuit of Aaa/AAA ratings for Connie Lee. Once the review and approval (for Connie Lee) has been completed it will only reinforce ABKs profitability and business model.
SIX, the following paragraphs are of specific interest regarding ABK ....
exaggerated pronouncements of doom from the media and various investment professionals.
This has caused a grotesquely distorted picture of actual expected claims, relying on market panic over industry-standard computer models and not accounting for mitigating factors
Ambac expects to be cash flow positive this year
the recent deal to insure $264 million in military housing shows AA rated guarantors can still find profitable business -- while an eventual return to AAA would be optimal
issuance is almost certain to rise in years to come. Guarantors serve an invaluable service by enhancing the creditworthiness of bonds, and broader macroeconomic trends speak to the importance of this business model.
IMO- ABK stands to produce excellent returns in the long-term
9 investment mantras of Warren Buffet
1. Invest in Businesses, not in Stocks
2. Only Buy Businesses that You Understand
3. Buy Companies with Defensible “Franchise”
4. Hold for the Long Term
5. Ignore short-term fluctuations in price
6. Buy Good Businesses When Prices are Down
7. Do Not Actively Trade
8. Do Not Over-Diversify
9. Invest only When There is a Margin of Safety
http://sify.com/finance/fullstory.php?id=14711946
SIX- My July 18th alert was a 'little' early but it looks like the chart has confirmed the short-term trend.
Thanks Zav, Just goes to show again that trading the pennies is an acquired talent and that chart analysis (for pennies) differs from that of big board trading. Thanks again for your insight
ABK will go back up SIX- people need to get over the Los Angeles lawsuit PR and trading purely upon emotion- remember that there were numerous other events that far overshadow this trivial issue with the City of LA
1)ABK Insures $264 Million Military Housing Transaction
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30637716
2) 300bln housing rescue bill in the final stages of approval and adoption (This bill will provide marginal stability to the perputual downward spiraling foreclosures, open options to lenders and home owners- good=slow down of foreclosures and rapid decline of equity for homeowners bad= tax impacts of common US citizen and increased national debt
2) Fannie Mae and Freddie Mac are "essential" - Government assistance in the process of being implemented- these two entities will not be allowed to fail due to their integrated "processes" tied to national home sales, investements and guarantees.
3) ABK 50 MILIION SHARE BUYBACK- will be processed and implemented in the market place- once this begins it will cause increase in pps and short covering and/or substantial losses by those that hold short positions
4) Integration of business processes with CONNIE LEE- possible assignment of AAA rating- return to profitable business model and operations (regardless of opinions it is a requirement by law within the market place and will continue as a integral process.
5) In the end institutions such as ABK ARE required entities and are completely integrated into the process and model (regadless of personal feelings of those who believe they should be abolished) these institutions will remain until the model is replaced.... we are in crisis mode, these IMO will be supported by the Govt until something better is designed, developed and implemented (which in the US Govt history usually take 10-20 years -refrom will not be accomplished rapidly
CROX dropped 55% today!?! - WHOA what a market crash....glad we didn't jump in earlier- that's one hell of a loss for longs!
NMGC -the chart has been looking solid and I think it would have closed higher if not for the relentless pressure from the rest of the market- so many people in the red today that the end-of day could have been a few people protecting profits in fear of a continued down day tomorrow. Looking forward to the positive trend continuing tomorrow
I left early this am holding ABK and SIX -SIX had a stellar day considering the market but ABK killed me- since I had NO idea the market was going to retract as hard as it did I didn't think to establish my SL for it. I am completely furious (at myself) for not setting a stop-loss before I left to get on the road...novice mistake that I won't make again
I think SIX will surpass $1.00-$1.20 once we get closer to Fins in Aug 4th
-CEO Mark Shapiro indicated that the company is positioned to deliver positive free cash flow this year.
http://news.google.com/news?oe=utf-8&rls=org.mozilla%3Aen-US%3Aofficial&client=firefox-a&um=1&tab=wn&hl=en&q=CEO+Mark+Shapiro&btnG=Search+News
Treasury's Paulson Says it Was Easy to Recommend President Sign Housing Bill
Although he is not pleased with some parts of the housing bill, U.S. Treasury Secretary Henry Paulson said it was easy for him to recommend to President George W. Bush to sign a housing rescue package into law on Wednesday.
On Tuesday, lawmakers reached an agreement over a bill geared at alleviating some of the pressures in the U.S. housing market, a problem which several experts have said must be resolved before the U.S. economy can recover.
A key part of the bill includes a reform plan for government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, which came under pressure as default rates in the United States soared.
Under the agreement, Treasury will be able to inject capital into the institutions, a "strong signal" to markets, said Paulson to reporters.
Bush announced earlier on Wednesday that he will not veto the bill despite some reservations over specific aspects of the legislation.
SIX trading 1$
ABK ready to keep moving up if volume continues(link back for Fringe Chart)
INIX - volume tapering off a bit- the big boards are stealing most of the momentum
SIX- Been playing it since the 18th
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30800539
Hey Tony - nice to see someone else noticing SIX -Earnings release is on Aug 4th -take a look at the research and news from my first post on it
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30800539
SIX hit 1$ AH trading -perfect white hammer on the daily chart(link back for chart)
SCUR on watch- glad I didn't jump in back in May -wow-
AAI support and resistance- best of luck to the traders tomorrow
resistance--$5.74
resistance--$4.29
resistance--$3.44
supp--$2.40
supp--$1.19
SIX going into the close at new HOD (link back for chart)