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WAMUQ (.11) up .05 already - Let's ride the Train of Over-sold financials!!!!
Ever think that it is is someone who bought in at .013-.03 finally deciding that they have to get out to cover their margin call, the stock won't go up, etc ? To your point, a big retail investor, who has a limit sell.
At my brokerage, if I don't have enough cash to cover my margin call, my brokerage has the right (their call) to liquidate any of my positions in sufficient quantity to cover my margin requirements. It's on the form I signed to get a margin account. They can even liquidate my pink stocks if they want. that's quicker cash sometimes than margin traded stocks.
rosebud. If the inventor works for a company where the inventor has already turned their rights over TO the company as part of being an employee, then the person no longer has any rights to the patent. Remember, Bruno's patent application and rights went into Bankruptcy court and was bought by BCS. So, technically
(a) bruno filed while an employee
(b) that filing was part of the assets of the co
(c) BCS bought all of those assets.
Well, *I* have the DOW down as follows from marketwatch
Dow 10,365.45 -777.68
Nasdaq 1,983.73 -199.61
S&P 500 1,106.58 -106.69
10-year 3.63% -0.20
Oil $96.37 -$10.52
Gold $894.40 $5.90
Congrats, looks like we sucked up another 5 million of the float today... also wish I had $$ to add to my pile of shares. Alas, when this goes up, I won't be sad. :)
I was just going to ask you if you had some bids down there. I can't imagine that you would stop buying now... If it looked good at .02, it looks better at .005 and it looks amazing at .003/.002
A company that hasn't done anything, has had over 90% of their market cap shaved off (just about). Momo in the pinks...
If there are truly only 20 million shares still in the freely trading float (and getting less the more Manti buys) this will go up quick with good news.
SirJoke - buying any more at these low levels?
Also - has ANYONE from the board sold today?
WAMUQ down to .036 - probably will come back to .05 or .06.
Not any more risky than some of these other ones! :) The company still has a bunch of assets too.
If they are going to stock another Big Box Store with product in time for flu season - they gotta announce that financing soon. I wonder if there is product ready to ship from the manufacturer in enough quantity to fill up all of the COSTCO locations ??? Can't imagine that that's a quick process, but maybe it can only take a couple of weeks from deal to delivery.
Last post on NCC - Analysts see no reason for drop.
(this keeps trading like a penny - hope its okay Doog)
NEW YORK (Dow Jones)--Shares of National City Corp. (NCC) fell to their all-time low Monday as investors continued to pull money out of the regional bank on concerns over the health of the U.S. financial sector.
However, unlike investors, the bank's depositors are staying put, according to a company spokeswoman.
"Our funding and liquidity levels are good and that is represented by our strong pool of core depositors," said Kelly Wagner Amen, referring to the bank's four million customers across 1,400 branch locations.
According to National City's second-quarter financial report posted on its Web site, the bank's core deposits, excluding escrow funds, grew to $84.3 billion at the end of June 30, up from $83.2 billion the previous quarter and $74.0 billion at the end of June 2007.
Shares in the Cleveland, Ohio, company fell as much as 66% in intraday trading, and were recently trading at $1.47, down $2.24, or 60%.
Adding to National City's malaise Monday was a huge decline across all major stock indexes, which was prompted by the House of Representative's decision to vote against the proposed $700 billion bailout plan to seize troubled mortgages and securities.
Analysts at several Wall Street companies declared the sell-off in National City's shares unjustified, and said the company has sufficient capital and doesn't seem to be affected by the same problems that brought down Washington Mutual Inc. (WM) and hit Wachovia Corp. (WB). Several analysts have even upgraded the stock.
"We do not feel National City is seeing a mass exodus of depositors, their loan portfolio is more diversified and better quality than WaMu's," Oppenheimer's Terry McEnvoy wrote in a research note, upgrading the stock to outperform.
BMO Capital also called the sell-off unjustified, but said sentiment can become reality for the regional bank in this environment. .....
WAYYY in agreement you there bro. Material developments taking time, versus 500 million more shares into the Float is SOOOOO MUCH preferred.
Even though I *am* taking a bath in my retirement account right now, I know it will all come back in due time. I won't retire for 35 more years or so (if I ever do) so it has plenty of time to recover and make me rich in FNM/FRE/WB/AIG/NCC. :)
but I don't have any more money!!! Unless one of my other pennies decided to gain some MOMO.... I'm missing out on all of the cheap shares.
The lesson in this is NEVER SPEND ALL YOUR FUNDS
Always save some for the cheaper, and cheaper, and cheaper, and cheaper shares. :)
I really don't like looking at my trading account these days. It's down over 70% I think from a few weeks ago, but I think that it can come right back to up 70% in just a few days given the right news.
Now that the bail-out is maybe d-e-a-d, I'm gunna take a bath for a while on my financial stock investments. Good thing I'm not in for the quick flip, but I do wish I had sold high so I could re-load following the selloff.
Doog,
Thanks for the recap of the conversation. I'd really like to understand how you became so good at earning the trust of those at companies so that they will freely share information, as, uh, freely as they do.
Did you talk theoretically at a price per share they would be looking at for any theoretical buy-out or any theoretical amounts of anyone they might look to merge with ?
So, let's play out a likely scenario.
(a) BCS now has a patent
(b) BCS will likely think that FOLO/CRAM infringes
(c) BCS will sue (again) ECT to stop sale of CRAM
(d) A judge will enforce stopping sales or stay the enforcement
(e) BCS/EFFC will see their day in court
More than what EFFC would have to say about the patent, I'd be real curious what the researchers would say behind closed doors. There will obviously be corporate [truth|spin] on this, but I'd like ot know from the scientists.
WM Trading as WAMUQ again - .06
I picked up 3400 today
WAMUQ Buy 3,400 Limit 0.06 Day Bought 3,400 @ $0.06
I got my fill for a small amount
WAMUQ Buy 3,400 Limit 0.06 Day Bought 3,400 @ $0.06
you and me both Shkinferd. I shot my load at .012-.016 and could have added almost 3x shares... I'd really would like to be in the same position as Manti!
NCC (1.56) looks like a good trading engine today. It's down 50% cuz people think "they are next". I picked up 1k @ 1.50 and 1k at 1.35 today. Unsure if this is a hold over night play, but the swings look to be about 20-30 cents.
This totally looked like a margin call to me and someone had their 10M shares liquidated for them!
Well, hopefully, it'll work out for me in the end.
Citi (NYSE: C) today announced it has reached an agreement–in-principle to acquire all of the banking subsidiaries of Wachovia Corporation (NYSE: WB), creating the largest U.S. bank by total deposits.
Wachovia will remain a public company and retain its asset management, retail brokerage, and certain select parts of its wealth management businesses, including the Evergreen and Wachovia Securities franchises. Going forward, Wachovia expects to have adequate capital to support its remaining businesses, an appropriate allocation of tangible equity, and certain tax assets that will be recognized immediately.
Under the terms of the agreement-in-principle, Citi will pay Wachovia approximately $2.16 billion in stock and assume Wachovia senior and subordinated debt, totaling approximately $53 billion.
last night I put in a premarket buy for 1k share of WB at a buck and it filled... Lets see what happens now
In the draft bill - see this language?
(d) TRANSFER TO TREASURY.—Revenues of, and
8 proceeds from the sale of troubled assets purchased under
9 this Act, or from the sale, exercise, or surrender of war10
rants or senior debt instruments acquired under section
11 113 shall be paid into the general fund of the Treasury
12 for reduction of the public debt.
Now THAT could work out.
Okay, I got a ton of Limit buys in for the morning. Doesn't appear like I can place a pre-market trade (limit buy or sell) at this point, but we'll see at 4:30 pst when it opens (if it opens).
I hold 10k shares at an avg of 1.80 right now, and I've got buys in for
.05, .07, .11, .15, .17 just to see if I can't make some of my loss back. I think this will swing wildly especially if the holding company can salvage something out of this with their (maybe) good assets/liabilities.
doog - thanks - with WM/FRE/FNM. I've been watching the chatter this evening on all of the boards.
There are some calling for a FRE/FNM drop to $1 on the european drops and continued concern.
There are others pointing to the options for October going to 7.50 as a sign that $5 is in the future this week.
I'm looking for $5+ myself, probably betting on a solid close near 2.50 for monday with huge swings up and down.
Pre-market will definately be interesting, so pick your targets well if you're going to play.
If WM Trades monday, it probably will have wild swings. People looking to get out with what they can could cause a drop to a nickel, but there are a ton of shorts to cover and it could get back to .50.
I'd been paying attention only slightly to FNM and FRE until they started to go WAYYYY down. When it hit a buck, I knew it was starting to get good and I started to buy FNM... As it kept going down I kept buying... My whole thought process was that the govt would just not let these fail. someone/somewhere/somehow would step in and get this back up, it's just too critical to get taken over, etc.
So, when it hit .40, I added some more shares, only 5k more, but enough to put me up $50k or so in the couple of weeks that I've owned this. I took a bath on WM, so looking to at least trade my way out of that, but this has been a no brainer.
Let the financial stocks soar!
If this goes through, any guesses anyone on how high FNM and FRE will go in pre-market on monday? Anyone think 5-10 is reasonable?
See, if the US buys all of these mortgages for pennies on the dollar and THEN the economy comes back, it seems to me like this bail-out could pay down the national debt.... or not.
I have to say I'm sorta impressed. Decent clip, not too shabby voice-over's and use of those actors in the party scene. Love how they showed JSB Transport.
I have to probably give it a 7/10. The clip on their web site had some sync issues and they should probably re-encode it because the words were a bit off of Gib's mouth (at least on my 'puter).
I am surprised that they didn't mention the ticker symbol in that last thing, but I guess that's what the web site link is for.
All in all, I think had I not known anything about this company, I might have said "hey, neat" and actually might have visited the web site. Doubt it would have been enough to make me invest, but I would have visited the site.
Whether they paid for it or not, it will give some visibility and I'd suggest that they'll get at least out of it what they paid for it.
I'm going to spend a week in Vegas the week of October 20th. As a harrah's club member, I promise to mention to every Pit Boss that I would like to drink Bionic tonic and I'll go searching for it one of the whatever convenience stores that carry it.
If nothing happens by then, expect pictures.
Looks like I have to write in tonight to see why my store hasn't shown up yet...
*I* got caught in WM. 10k shares bought at market close yesterday.
I think that might be a quick 50% right at the open, probably a good launching point at least during pre-market.
I'm wondering if I can get out at a buck.
I am quite disappointed in myself that I didn't sell today in the high 2's and actually then bought more at 1.40.
If a deal comes through, I'm golden.
If the deal doesn't come through, I think I'll be seeing RED for a long time.
I'm okay to wait it out though, with my FNM and FRE shares - about 30k of each, I can just sit and wait. No way the government will let these collapse.
that's a very good point... Yes, I hold 9k shares overnight, so a loss of $20k in my retirement is definately not going to stop me from retiring in 30 years
I'm stuck in the unfortunate circumstance that I bought this in my retirement account today at 1.60-1.70. I can't 5-min trade it to make up the 15k/20k loss.
doog - I googled 'carter', but as you can imagine there are a lot of them out there. Got a company URL by chance?
Anyone want to venture a guess at the price I should set my sell for the pre-market pop? .50 ? .75 ? $2 ?
I wanna at least get out before this is a dime or a nickel.
WM (0.40) after market
Looks like WM is done. Might bounce in pre-market, but JPM is leaving all debt in the WM company and just buying the good stuff.
Presentation download link from JPM Transaction
http://investor.shareholder.com/common/download/download.cfm?companyid=ONE&fileid=236634&filekey=b5a3d70a-28ac-4148-8966-71b18408c8c3&filename=JPM_WManalystpresentation.pdf
Its already listed on the failed bank list too.
http://www.fdic.gov/bank/individual/failed/banklist.html
Well, Gall Darn-it. I guess that's what I get for picking up 7k more shares at 1.60 toward end of day. Should have sold for $2 before the sell-off.
Hopefully FNM and FRE will make up for my WM losses now.