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What is amazing, is LUM shareholders actually are in a better scenario than GM shareholders today!!! LOL
Oil now pushing $70.bbl today but I see CLNE stopped by 10.00 resistance area and technically looks like a head and shoulders top forming too???
I have small stake but see it trading back down to 6.00 level where it made many gaps previously before it gets enough steam to go above 10.00 level... We wills ee.
We came back in at .36 for PUDC long term from here now as Asian small cpas is the new paradigm of the future as the old large cap issues like GM are dead as I see it....
I am on sideline with this one until she falls back to retrade through so many gaps created...
Found this little gem and bought into it at support- see $2.22 blowing through fast and going to 8.00 level before consolidating next level...
Same story, Asian stocks to do very well going forward from here...
I believe they (small cap issues mainly) will be the new paradigm and the old large cap like GM's etc are no longer going to be where the money is made in this new future.
Well over a month has gone by and now invested back into this stock from here as oil increases and ENT in very profitable position long term now and going to become major player on market soon as I see it...
WHo in their right mind would throw good $$ inot a worthless venture??
Right now small cap China stocks are your best bet for "deadcat bounces" youo speak of and major moves up such as SEED, PUDC, CDII, CPSL, SUTR and hosts of others globally if you want to make money as there are thousands of other equities globally today to invest or trade upon and GM is not the only one.
Yes and "HAD" GM not gotten into bed with Obama's administration and used a normal public bankruptcy process, there "MAY" have been some hope for common shareholders to recoup some invested losses- but as with any investment, there NEVER was implied success or gain in buying GM stock regardless so many thought they were too big to fail...
EVERYONE who bought Friday, understand, this former major DOW corp will be wiped out on paper as it was known prior, all shares disappear basically, and in time a new corp with new shares and posisbly ticker symbol will emerge but it will have NO positive impact on anyone holding old GM shares- Kind of like those old railroad stock certificates from days gone by that can only be used as wallpaper today...
GM coming off DOW listing too and a new corp is going to be added in their place on the DOW.
Sad but this was inevitable with or without Obama's aid... Excessive greed and welfare-type entitlement mentality of mega UAW caused this for many years running a dead horse into ground.... Now, in time can they learn to do like the rest of us and streamline and live on less and do without as millions of citizens already are?? I feel not, so it will be years if ever GM or Ford or other get the clue the USA and its middle class no longer exists as it once used to which drove these car makers and autos to the levels and costs they are at today- now with middle class all but gone as was predicted over 20 years ago,who will buy the amount of new cars needed to keep these guys afloat in the green???
I am glad my old lessons were learned and I sold my GM stock long ago prior BK talk becoming mainstream, and still remember the CEO saying "we will not file bankruptcy"...
SEED going to higher levels from support here, passing $6.00 near term first....
Agreed, but many are so blind and ignorant going on hope and false promises from cnbc crowd and others.. NOTHING is too big to fail and with economy in dire straits, very few people are or will be buying large retail type items as they once used to like new autos for years...
And now that GM is trading under $1.00. if it stays below $1.00 for period of time (30 or 60 consecutive days I believe it is) it then will become delisted from the exchange and trade OTC like many others have happened in past once thought solid ie; LUMCQ and hosts of others..
Monday starts its BK and common shares will become worthless from there on until a new corp emerges and new ticker symboled shares are issued... Could be many months or years..
GM shares halted from trading after news announcement.. Like I said for many weeks, do not get in way of talk of bankruptcy as you the common shareholder will lose and can lose everything you invested on hype & hope as NOTHING is too big to fail or too old to fail in today's new world....
Class Action to see compensation to common shareholders!
Lowey Dannenberg Cohen and Hart, P.C. ("Lowey Dannenberg") announces that on April 29, 2009, Judge Phyllis J. Hamilton gave final approval to the $8,000,000 settlement of a securities class action on behalf of a class of investors in Luminent Mortgage Capital, Inc. ("Luminent" or the "Company") common stock and options during the period February 9. 2007 through August 6, 2007 (the "Class Period").
Lead Counsel Lowey Dannenberg represented Lead Plaintiff Southern Investment Company on behalf of the Class.
The settlement payment resolved claims that Luminent senior officers, which invested in mortgage-backed securities and mortgage loans, falsely represented Luminent's ample liquidity, exposure to subprime debt and the safety of its upcoming dividend payment. These bullish representations were alleged to have invited investors' confidence just weeks before the Company disclosed a credit crisis and suspended its dividend in early August 2007, which resulted in an immediate 85% decline in the value of its stock. Luminent subsequently filed for Chapter 11 protection.
In approving the settlement Judge Hamilton praised the recovery as "excellent" particularly in light of the bankruptcy, observing that the Class response reflected that it was an "extraordinary" outcome.
Barbara Hart, head of Lowey Dannenberg's Securities Litigation practice observed, "the Lowey team had to work effectively with industry experts to analyze the intricacies of the mortgage back securities at issue and to untether the Class' recovery from the bankruptcy process for the benefit of the shareholders. Partner David Harrison, the principal litigator on the matter observed, "the result is about 17% of damages, a tremendous result for the shareholders. Luminent class members should file claims now because I'm proud to say there is real money available to compensate for their losses."
Lowey Dannenberg is one of the preeminent plaintiffs' class action law firms in the country (www.lowey.com).
For more information, contact Barbara Hart at Bhart@lowey.com or David Harrison at Dharrison@lowey.com
SOURCE: Lowey Dannenberg Cohen and Hart, P.C.
Lowey Dannenberg Cohen & Hart, P.C. Barbara Hart, 914-997-0500 Bhart@lowey.com or David Harrison, 914-997-0500 Dharrison@lowey.com
Yes FinancialAdvisor is right as far as today's environment, but when I started investing in early 80's it was common knowledge then any stock falling below $2.00/share was considered "penny stock" and worthless risk to invest or hold then.. But so many forget history or even the week before it seems today..
As far as Ken Lewis, that Business Editor writing his book who appears on cnbc (Joe?) is correct as Charlotte, NC and BAC and the banking community here is a mafia organization.. In fact, living in NC as I do, I can attest there still exists a massive underground "anti-yankee" mentality STILL after all these years and good-old-boy redneck system which Ken Lewis and the banking organizations are part of; and everytime I see his mug on the news it disgusts me how a banker can lie straight faced to millions all the while know they did wrong and affected millions of people all in the name of making mroe and mroe money and do not care to what extent they have to go to in achieving that goal!!!
National unemployment numbers today ar 9% now! Unemployment in NC is far higher! Unemployment in my area is over 18%. Today the Charlotte area school system is cutting 1200 teacher jobs too not ebing reported on mainstream emdia! Where is Obama's stimulus to kepe teachers from ebing cut? It aint happening because there is a greater con game going on between those in power in government and in power in banking at expense of the majority working class people today..
Ken Lewis & BAC are crooks..
How so many can believe what they spin and what this crook says is beyond me and why today's government acts as if the majority of citizens are stupid and really know nothing; much like Bernard Goldberg stated last night on O'Reilley factor as well...
Today's jobs numbers are worse in nearly 30 years (millions of jobs gone from USA as well) and all this talk of "less worse" is disgusting to hear when fact is market is way overbought and as my CPA and others believe is happening, is someone inside the US govt has been buying into stocks to make a superficial rally in the DOW, until they can short to recoup massive losses again, as NOTHING in the US economy reflects the movement of the stock market nor what has been going on with banks trying to look like humanitarians when they created this mess that will hurt the US for decades to come at the rate the government is going! It all is another sham on the masses...
Here is crux of today's jobs numbers and what I laugh at, is the last 2 months now have been revised worse than reported then (at that time they said it was getting better and less worse remember?); and I expect today's numbers will be revised worse next month as well, as Obama's administration and others know the truth and are trying to not let the public know it to avoid what is inevitable- another massive leg down on DOW to revisit 6000 level as it should NOT be as high as it is in 4-6 weeks after a generation of massive growth that ran it up to the heigths it was at, and no way this economy has corrected in a few weeks what took decades to create either...::
Payrolls drop by 539,000; jobless rate up to 8.9%
8:46a ET May 8, 2009 (MarketWatch)
WASHINGTON (MarketWatch) - The U.S. economy continued to shed jobs at a horrendous pace in April, with nonfarm payrolls falling by 539,000 and the unemployment rate jumping to a 26-year high of 8.9%, the Department of Labor reported Friday.
The report was largely as expected, reflecting an easing in the pace of massive job destruction from the previous five months. Since the recession began in December 2007, payrolls have fallen by 5.7 million, or 4.1% of payrolls, the largest percentage decline since the 1958 recession.
April's loss of 539,000 jobs was the smallest decline since October's 380,000. Job losses in February and March were revised higher by 66,000.
Job losses were widespread across industries in April. The only sectors adding jobs were health care and government, which was boosted by the hiring of temporary workers to prepare for the census next year. Private-sector employment fell by 611,000.
BIGJOHN this now confirms this corp reminds me of what happened with FXPE (Fox Petroleum) aboout 2 years ago when they became delisted and ended up OTC and tried a Reverse Split and all in all it was disaster in end for investors.. So sad to read this article you posted..
danimal..., I also am part of an ongoing class action against another supposed solid firm whose shareholders found the execs were filing false SEC reports and we all hold millions of shares of dogshitt there too still waiting about 2 years now and the ongoing court debacles that prevail; but they did release statement there last year that in a special agreement to please courts and release assets, common shareholders basically will end up with nothing so that the creditors of the corp can be repaid back...
Hope it don't happen here with RBRM.
I got a few hundred thousand shares of this dog I invested in some years ago I will sell cheap to anyone who wants it.. LOL
So sad, toilet paper we buy to wipe my ass is more valuable than this company's stock I invested in long ago and am stuck holding for posterity...
Clowns is right and I myself have benec aught up in a couple over the years and NOT ONE EVER turned out beneficial for shareholders.
As he says, it is a last ditch attempt to get a new share price and investment cash into that new stock share to push prices up, but all I ever saw, everytime they were simply shorted into oblivion; and those who remain ended up trading on OTC. Fox Petroleum Corp is one that comes to mind a couple years ago that did a Reverse Split that did this and ran massive PR when in the end, it was found ONLY the Corp insiders kept selling shares each time new buying interest came out until the new stock price (which did gap way up initially) fell so fats to nothing in the end.. But many investors are gullible and go on hope not common sense..
Time to move on and forget GM and anything of what America used to be- The extremist liberals are seeing to this and this is all playing into the hands of a New World Order where a few become very powerful in the government forcing people/corps to come to them and become nationalized to exist in some form, but it will NEVER be as it was in past decades again..
The BIGGEST problem EVERYONE needs to realize including Obama's administration and CNBC and other news pundits is how in the hell can you expect a former world power society to exist and grow when there are more people now unemployed than ever in nearly 80 years!!!! The numbers being reported especially from retail are not above board and being spun as more people than ever cannot afford to buy things they once used to and just in my area of Hickory, NC, a 3rd major automobile dealership went bankrupt last week because people are not buying vehicles (new or used) or the new financing rules are so strict it disqualifies a majority of working people regardless they can afford the car... And the adds being run on TV are really wastes of monies for the auto makers & dealers as banks are NOT lending for homes or cars as the spin tries to portray folks... Also a 40+ year old housing manufacturer plant & sales offices in Statesville, NC for the USA just closed up here citing no sales and no financing for borrowers being granted.
MTL going back to trade at $10.00 level before the market collapse occurred and Obama fear kileld markets. Short term will close previous trade gap caused at 6.55 but from there nothing for resistance until $10.00 level; so IMHO, whomever buys this and holds a short while will be handsomely rewarded...
Riley I hear you, but we can't get much worse than a 1 cent stock price either..
This I admit amazes me as this bio of Dr. Phillips is astounding and prestigious.. Is this the same Dr. Phillips of RBRM??
About 1 1/2 years ago peopel were asking for his "medical" credentials (even other doctors practicing medicine if I remember correctly then) and now this press release about a speaking engagement at Holiday Inn states this man as Harvard educated and so forth.. This is great if it is the one and same fellow we know who is CEO of RBRM..
This I admit amazes me as this bio of Dr. Phillips is astounding and prestigious.. Is this the same Dr. Phillips of RBRM??
About 1 1/2 years ago peopel were asking for his "medical" credentials (even other doctors practicing medicine if I remember correctly then) and now this press release about a speaking engagement at Holiday Inn states this man as Harvard educated and so forth.. This is great if it is the one and same fellow we know who is CEO of RBRM..
Yeah Clowns; I bought thousands of shares of a penny stock from a small cap medical device firm once at like 15 cents per share, and it eventually went on to trade in excess of $15.00 per share!! That company was SPNC back in mid 90's..
Another today that reminds me of them very much is RBRM, which right now as funny as it is, have a patented silver based product that kills Swine Flu virus and are right now poised for massive stock growth and have been working 24/7 round the clock since last week trying to meet demand globally; but only have enough for US customers at this time...
Like I said, Ford is best of auto stocks, but this is way overdone people. GM will be in bankruptcy soon and Chrysler already is.
Truth in the economy and today's economic data shows people have less incomes and spending even less; FORD or any auto maker is a retail big ticket item and sales are simply not there nor will be for a very long time as it used to be, and the current price is too high to reflect this in my opinion and it is trading at the ebst it will be and can't expect more from this stock.
This is a retail sector stock and knowing there will be reduced sales and fewer made autos for even a few years to come, the price of this stock will settle below the current price and just will not go further, but will not be surprised if it goes to maybe 2.00 P/S value and stays there a long time.
Compared to other large caps like MTL, a minig conglomerate, that ahs several major commodities as its base, they will always be needed globally and will do well for a long time and its stock way undervalued.
Point is, anything retails is highly limited and risky, but many other great longer term values are out there, but it is not in the autos.
thesource you are 100% correct and I posted this several times manyw eeks back.
To hold onto stock from any corp that is even hinting on bankruptcy is the most foolish thing a person can do. I learned that lesson long ago and still hold two separate former "great" corps common stock which now is worth pennies because of bankruptcy procedures ongoing for 2 years now...
GM should have filed BK long ago and NOT be given $Billions of taxpayer funds to fill a never ending void of greedy execs and corrupt union structues...
To stop making Pontiac and keep Hummer is another STUPID idea to come out..
Let bad companies fail and good companies survive with level competitive playing field and small companies be able to flourish out of the ashes of those larger corps that could not operate ethically or honestly or profitably on their own...
This is good news, and the shorting is overdone one xpected current news I believe too.
Strange times and strange things happening all over. GM should be bankrupt already as well as Chrylser (stop giving them tax monies) and to see them just stop producing Pontiac is ridiculous and leave the Hummer in place???
Apostle you are right as well as Gary and others questioning this. I too am confused.
Obama's got his people out there as well as NIH & CDC to find some cure and all we ehar are shipment of TamaFLu are being ordered? This is the cure??
Come on RBRM, you got this product and have a global major health disaster at your doorstep, and youo do nothing with this WIld Card you have been given which will never come again like this for oyu or any corp for that matter...???
As far as sales; the last 2+ years RBRM has always had excellent sales yet the stock is kept shorted to a penny.. You figure it out and enlighten me. Just imagine what it could become as a major corp & EMPLOYER if it truly allowed its stock to trade to respectable levels and major hedge/investment funds came in like they do with restaurant stocks and other large cap corps buying large blocks of their stocks!!??
Dalinx I hear you and you may be right. I am one of the "real investors" and in the last 2 years I have been bewildered to see what I have, and now since the WTO raised the Swine Flu Threat level yesterday to 5 from 4 (6 being major pandemic), you would think RBRM and Dr. Phillips would be on CNBC, CNN, Bloomberg, everywhere trying to get their position known well globally as a solid growing medical development corp that has these Swine Flu packages, outside of the internet sales scenario they seem to be using...??
Hell, some top pharma corps are scurrying out there to try to find some sort of Swine Flu cure or such and here sits RBRM, with these patented Silver Swine Flu medical packages and they are not taking advantage of this on mainstream business networks globally in this date and time. I now see this turning into major pandemic and since Obama refuses to close Mexican border, it will get worse which would be great for RBRM's pposition, but yet here they sit not coming to the lead on this issue which is an actual global medical disaster waiting to happen and hundreds of millions could become affected...
Yes. I admit I am confused.
If you are correct, and going back to a past post I made against Dr. Phillips some months ago where he accused me of being a terrorist or such and wanted to report my factual direct posting as "violent", if you are right and they are doing this as a self serving scam, then yes, the contents of my previous post stands and and they all ought to be investigated for massive fraud on the public investor and the SEC for misleading and false reporting to perpetrate a financial fraud on the public...
To think of the ongoing SEC requirements & filings required of all public issued corps and their public shares traded, it makes no sense to just do this as a game to pump a stock so insiders can sell out... That horse has been killed long ago and people today have become more informed and more intelligent and should be questioning ALL executives and public corps in their operations & actions...
RBRM & Dr. Phillips indeed could not ask for a better blessing for exposure to their company or its products and the current health concern.
This health concern, considering many factors in our overall society today, and the recent medical warnings out, might just well become a very major national concern and now is beyond just simply hype or pump & dump- as this is deadly serious and the CDC and NIH and others are involved as now more cases are being found (and deaths), and with the millions of kids who just came back from Mexico from Spring Break to the USA & Canada alone, this is truly something to be highly concerned about whether you have children or not!
We already have a school closed here in Charlotte, NC area because of a case found.
So I do agree, Dr. Phillips and RBRM are right in the front seat on this whole issue right here and any investor who finds out about them would also see the attraction in investing in this corporation too one would think?
CDC meeting with RBRM executives??
Heard something this early a.m. overseas regarding the swine flu and now since RBRM already has this patented silver stuff utilized in their products it has been proven to kills wine flu virus and in extreme demand right now and recent press release for RBRM shows they have been working 24/7 through recent weekend just to meet US orders first, not even able to meet global demand upon them for this silver
treatment thing??
Anyone concur?? Anyone hear anything different?
News Artcile today regarding RBRM::
'Nano-Silver Swine Flu Protection'Last update: 4/27/2009 2:28:00 PMCHARLES TOWN, W.Va., April 27, 2009 /PRNewswire-FirstCall via COMTEX/
-- American Med Tech, Inc. (Pink Sheets: RBRM) today offered a specially assembled home protection kit for swine flu based on the germ killing power of silver. (). "We spent the entire weekend assembling swine flu kits from existing inventory already boxed in pre-paid overnight FED-EX boxes," said David B. Phillips, Ph.D. CEO. Additionally, Dr. Phillips reports:
"We have been selling our nano-silver based medical hygiene products for the last 5 years. Our silver ion based products were developed as a cure for the highly contagious skin disease Molluscum Contagioisum and to protect the delicate skin of diabetics. The problem with washing your hands with normal hand cleaners to kill swine flu virus is that they contain harsh chemicals. Your hands may be clean immediately after washing, but the harsh chemicals make your skin vulnerable to infections minutes afterward. Silver ions are used in hospitals and medical equipment to kill germs and virus non-invasively and is completely safe for children and older people. " Finally, Dr. Phillips told reporters today: "Swine flu is transferred by touching a contaminated surface and then touching your mouth, nose, or eyes. Even touching your hair if it has virus that has settled on it and then touching your nose can infect you, so we have protection for your hair, hands, nasal and oral cavities as well. All our products are hypo-allergenic." "We have had inquiries from all over the globe today. We will focus on protecting the U.S. residents first.
" The company has 1,000 kits available now and is now running 3 shifts this week to keep up with the expected demand. Inquiries can be made at , the sales arm for American Med Tech, Inc. E-mail inquiries can be sent to customerservice@rebuildermedical.com. Phone is 304-725-2202.
Well, today over 2 million volume on the swine flu epidemic and this moved to just over 3 cents before shorts returned to beat down the gains all day sadly...??
When I came to check RBRM I was amazed actually after what I was told about its move today, seeing it have such volume I have not seen in 2 years or so???
Can it last, time will tell. Who knows anymore..
I was right, huge drop to close former trade gtap at 5.38 but I missed the move!!!... LOL Well, still holding a position otherwise in this but would have been nice to double down at the early a.m. selloff and pop up.
I am getting uneasy here and with overall markets after Geinter Hearing today. Took profits and holding only small position in ENT just incase we go back to 6500 level or worse from here,...
Anyone else feel disgusted to see this stock dead and still someone trying to short it in fractions of a penny?? Sad is all I can say for investing for years into something I believed in but seems most of the investing world does not believe is so...
Might be crazy here, but bought more SLW today on lows made into Oversold territory on RSI.
I have to admit, the strong moev already gave some gains and retracement faster than expected; so from here looks solid and am glad this and other stocks are NOT panicking when banks are selling off on their bad nmerits, as many stocks are starting to trade on their owno merits independently and are not ebing affetced liek months ago when banks scared everyone and sold off heavy like today.