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KKR Commitment Letter was released on a Monday pre-market
2.69
Edited:
Sorry, it was 2,69 @ 1000 Shares
If I were KKR, I would wait until all "legacy issues" are disconnected from WMIH through the final closure of the P&A.
Perhaps it got closed yesterday, without any further delays, and thus actions by KKR can begin?!? Too far-fetched???
I posted nearly the same chart in a German board a few minutes ago, but also added red (decreasing) and green (increasing) sections for both the price chart and the accum/dist line. From mid of April, you can see the price chart diverging from the accum/dist line. Price got lower, accum/dist line got higher.
Just look at the picture and ignore the German text if you don't understand it:
http://www.ariva.de/forum/WMI-Holdings-Corp-News-461347?page=1886#jumppos47160
That's also my opinion. Even if the PA gets closed today (and I hope it will), we won't be informed today, tomorrow, or the next few weeks.
Is it possible that they issue a trading halt for one or even more days IF they are released/uplisted and news come out?
I prefer to put the accum/dist line BEHIND the price chart, instead below it, so it is better comparable.
Here the daily for the last 6 months:
http://stockcharts.com/h-sc/ui?s=WMIH&p=D&yr=0&mn=6&dy=0&id=p81038262426
Here the daily for the last 2 years:
http://stockcharts.com/h-sc/ui?s=WMIH&p=D&yr=2&mn=0&dy=0&id=p07053543631
The accum/dist line is just impressive!
Never seen such an accum/dist line on any chart before...
I mentioned it a few months ago: Until the mid of April, price chart and accum/dist line were "linked" together. If the accum/dist line increased, also price followed. But since mid/end of April, both diverged! You can see it in the second link (2-year daily)
One could think the BOD don't want any buyers to get into this stock (at the moment). No advertising, rather they mention all the risks of this company, the risks using the NOLs, the ownership change that (they BELIEVE) occured. Is this their strategy? And the best, the BOD wasn't (or isn't) aware that this stock is trading. And if it doesn't trade, no advertising is necessary. Sure...
nranger:
I wonder if the EC did also have all this information...
I found my source for this document in the year 2010. It was the first link in the following post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45286298
Did anybody read this document? I know I already read it in 2010, but could not find any references from other pages to this link in Google. I think the 417 pages (more than 9MB) contain a lot of "hot stuff" (including mails from FDIC to JPM, JPM internal mails and valuations of WaMu's loans for Project West):
http://ebookbrowsee.net/jpmorgan-combined-pdf-pdf-d110661452
bkshadow, what's your take on this one (and my own following post)?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104593627
TIA
Do you mean this gap shown here???
http://ycharts.com/companies/WMIH/pe_ratio
Up to date, did she already rule against the government?
A ruling in favor for us could have a "very heavy impact" on the government I think. I remember the Washington Mutual CH11 case, in which Judge Walrath stated in court she cannot rule against JPM concerning a disputed 4 Bln. $ account without causing JPM go bankrupt.
What do you think, how big is your estimation that Judge Sweeney will rule in favor for us? 100% 75% 50% 25%?
Could there be the possibility that she "gets paid" or receives some frightening calls or anything else, so she will rule in favor for the government even if the rule of law would be broken?!?
TIA!
I think you are absolutely right, this is far from being over.
The FDIC Receivership Management Program is described here (I already posted it a few weeks ago):
https://www.fdic.gov/about/strategic/strategic/receivership.html
This one is new on the FDIC page I think and also interesting.
The 2014 Annual Performance Plan:
https://www.fdic.gov/about/strategic/performance/rcvrship.html
If a 300 billion $ company runs out of liquidity (the article states further 5 bln. needed to be downstreamed if I remember correctly) then PERHAPS a seizure is justified, BUT you cannot tell me that the 300 bln. in value (or let it be only 200 bln., or even only 100 bln. because of the financial crisis) went poooof or completely to JMPC for 1.9 bln. Where is the origianl 300 bln. $ "value" (or what is left) at the moment?!?
An interesting read from the FDIC, especially the confirmation that WaMu was a 300-billion-dollar-company...
The article is from 2010, but I've never seen it before on any WaMu boards:
https://www.fdic.gov/news/news/speeches/archives/2010/spapr1610.html
Where has all that "value" gone? Everything went for only 1.9 billion to JPMC? No single cent left for Escrows? Sure
Yes, but only if people don't sell their shares for only 4$, 6$ or 8$ and hold them until the PPS reached Rosen's stated PPS of 20$ (or was it even 25$ ?) per share
Then it could really spike like "Volkswagen" IMO
It seems only the blue sky is the ceiling for the accum/dist line. I've never seen a chart with an accum/dist line like the one of WMIH. If there is news about M+A, you should be right with KABOoM I think. But as long as we have this low volume, it is an easy game for the MMs to bring down the PPS from 2.84 to 2.78 with just a 2-share trade like at this moment (10:28:25 in Level 2)
The only reason for the increase in PPS is the break-out of the big symmetrical triangle IMO. You can see it in this image on a german board. It shows the break-out on last Wednesday:
http://www.ariva.de/forum/WMI-Holdings-Corp-News-461347?page=1822#jump18486007
It is noteworthy, that the price chart fits perfectly into the trinagle.
Here is the zoomed-in (last 4 month) chart based on last Friday's closing price. It also shows the Accum/Dist line, that reached its new all-time high on Friday:
http://www.ariva.de/forum/WMI-Holdings-Corp-News-461347?page=1824#jump18496480
I think the increase in PPS is only chart based, because there are no factual news at the moment (or we don't know it yet). The increase is based on very low volume. If an M&A would have taken place, I guess there would be much higher volume.
UPDATE 2-Goldman Sachs, U.S. agency in mortgage settlement worth $1.2 bln
http://www.reuters.com/article/2014/08/22/goldman-fhfa-idUSL4N0QS4KO20140822
That would be a real concern if a company buys WMIH, but really no matter if WMIH acquires another company I think.
If WMIH wants to do a merger with another company it will matter also, but I think we will acquire a company with the money from KKR
With the closing price yesterday we got a positive break-out from the symmetrical triangle and so the way up to the next higher price region should be free IMO
RSI, ADX and ACCUM/DIST are very strong, MACD looks good!
Unfortunately the volume is not very high, so it will be an easy game for the MMs to bring the price down again.
We NEED news about an M&A...
IMO yes. If we close above 2.75$ and tomorrow perhaps above 2.80$ we will leave the triangle to the up-direction and move to a higher price region. Only IMO
Here in the one year daily chart you can see that accum/dist and price chart were consistent until the end of April. From May on, accum/dist and price chart dispersed (price declined, accum/dist increased). I think, the accum/dist tells the "truth" IMHO...
http://stockcharts.com/h-sc/ui?s=WMIH&p=D&yr=1&mn=0&dy=0&id=p66122552044
The price chart is nearly at the end of a very big symmetrical triangle, we have an increasing ADX higher than 34, the accum/dist line is at its alltime high and RSI is very bullish. And the bollinger bands are tighter than in December '13...
So let's go up to the next price region
118 page non-public P&AA in JOLLEY v. CHASE HOME FINANCE, LLC
Was this already mentioned here? There are many references to the non-public 118 page P&AA for WaMu in this case
JOLLEY v. CHASE HOME FINANCE, LLC
Search for '118' on this page
http://www.leagle.com/decision/In%20CACO%2020130211003
Awesome! One of the best posts of the last months!
Thanks for your great DD
But let me ask you one question:
What would have happened if Nate didn't bring up the IT allegations against the SNH. How things would have evolved? I cannot believe that Nate was the one and only lifesaver of the EC (and thus provided us Escrows) and SG was not able to achieve the same result (possible equitable disallowance of the SNH) by themselves.
Yes, I tried to express exactly the same with my post
Termination of Receivership
Perhaps interesting:
http://www.fdic.gov/about/strategic/strategic/receivership.html
Wrong. 1 Billion brings 100$ to Ps. 10 Billion means 1000$ (= face) for Ps which equals to 1.78$ for Qs.
Thanks for your reply to my post referencing "Assets" and "assets".
The more interesting one I think is the differentiation between "Subsidiary" and "subsidiary" in the P&AA, especially in section 3.1, which I addressed here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104596844
Did you read it? Any comments on this?
TIA
By the way, the same nitpicking with "Subsidiary" (uppercase) and "subsidiary" (lowercase) in the PA&A. Any explanations?
"Subsidiary" (uppercase) is defined in the P&AA as follows:
Can anyone please explain why the P&AA differentiates between "Assets" (uppercase) and "assets" (lowercase) so strictly?
On page 2 (PDF page 6) of the P&AA "Assets" (uppercase) is defined as follows:
...plus additional money from the FDIC's LIBOR actions "on behalf of the failed banks"?!?
Sounds great! I hope MW, Susman, the WMILT and the FDIC-R also know or knew that...
Thanks for your DD!
Each billion the WMILT receives brings
0.178$ for each WAMUQ escrow share and round about
100$ for each WAMPQ escrow share
So if LG assumes face value for the Ps (which is 1000$), the WMILT needs 10B $, which means 10 x 0,178$ = 1,78$ for each WAMUQ escrow
CDEL has 3068 @ 3.91$ in the Ask at the moment. A good offer I think...
If no money has come to our accounts in the beginning of 2015, it would be a pleasure for me to spend some money for a class action against whomever (tbd. when the time is ripe)! And I think there will be many other German/European shareholders who were waiting for "fair & reasonable" for more than 2 years then who would also join!