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Yup, but for them it is nothing new.
It is just part of doing business.
Good morning!
How am I wrong?
Cheers to all that got in and out yesterday!
Do you happen to know how much WMI owes its creditors?
What are you basing your comments on?
Let's see some numbers.
What are you basing your statement on?
I suggested that you read all of the court documents surrounding Washington Mutual Inc and then report back.
See you in a couple of months.
By the time the real news comes out, you will be out of shares.
Thanks for dumping.
I think your motives are clear, and anyone can see that you are not an investor.
Maybe you shouldn't have sold all of your shares. You seem to want the price to go back down so you can buy back cheaper, but I don't think that is going to happen.
Hope you are happy with your profit, because if you you really made a 336% profit, that means you bought in at about .0013 (which I don't believe you did because I doubt you were sitting on the shares that long), and it's not going back down that low.
If you want to continue to make more money on AMNE, looks like you are going to have to buy more to drive the price up.
Thanks for playing!
Thanks buddy.
I'm not a chart guy....yet, but I thought it looked pretty good.
Follow the volume right?
It's not just the balance sheet. It's the IS, SOCF, and all that jazz.
Playing it by ear is probably good. If you can double your money, I'd say take it, especially if there is that much volatility. If you can sell for .15 and buy back in for .10 and rinse and repeat, then that would work too.
I'm not telling you what to do, as it would suck to sell and then hear that they have some deal worked out with somebody, but it would suck worse to watch it tank.
Some guy here on ihub has a great signature that says something like, "It is always better to be out wishing you were in than to be in wishing you were out."
Sounds like you have a nice woman to keep an eye on you.
Consider yourself lucky!
We'll see.
Anything can happen.
I don't see the receiving of TARP funds and a buyout as being the same at all.
A buyout pretty much guarantees a set price per share amount which would likely result in a halt. TARP funds just mean the bank is getting a loan.
If a settlement was announced, say $30 billion, then trading would likely be halted so that a more proper valuation to the trading price could be assigned.
Class-actions like the ones against WaMu will go nowhere because precedents have been set and will likely be followed.
Class-actions pretty much do nothing but line lawyers pockets.
You make some good points. They could have, could be, could plan on accumulating up to the 5% themselves and could be have had, could be having, could plan on having someone else buying up shares as well (planning on paying them an arranged price).
It would make sense that they would be doing something along those lines if they , or anybody else, is planning on buying WMI.
I wasn't talking about the AMBAC suit, I was talking about a suit in Jefferson County, Alabama .
"The Jefferson County sewer authority has $3.2 billion of swaps currently underwater."
"In late March, two county commissioners said they were pressing the county to file for bankruptcy court protection, due to the transactions with JPMorgan and other financial institutions."
JPM cannot buy more than 5% of the WMI stock unless they get permission from the court. If that was the case, I doubt we would see the order approving such a move.
I think it's in their best interest to execute a buyout to halt investigations regarding the WaMu "deal", but as far as the other lawsuits against JPM go, those are just part of doing business as far as JPM is concerned.
They are involved in several lawsuits, have been involved in several lawsuits, and that is nothing new to them.
New Today (On the wire, but I can't find a link yet)
SEC OKs Legal Action in Muni Derivative Case
Pretty new
UPDATE 1-Ambac unit seeks $1 bln in damages from JPMorgan
http://www.reuters.com/article/marketsNews/idUSN0624783420090506
2008
JP Morgan sets aside $6bn to combat Bear Stearns claims as Wachtell secures trophy mandate
http://www.legalweek.com/Articles/1107142/JP+Morgan+sets+aside+6bn+to+combat+Bear+Stearns+claims+as+Wachtell+secures+trophy.html
2005
WorldCom
http://www.washingtonpost.com/wp-dyn/articles/A42281-2005Mar16.html
Enron
https://www.insidearm.com/go/arm-news/jpmorgan-chase-agrees-to-settle-enron-class-action-litigation-for-2-2-billion
The list is a lot bigger than that, but you get the picture.
Order Granting Admission Pro Hac Vice of Laurence Z. Shiekman, Esq. to Represent the Official Committee of Unsecured Creditors
http://www.kccllc.net/documents/0812229/0812229090507000000000004.pdf
http://www.pepperlaw.com/LegalStaff_Preview.aspx?LegalStaffKey=52
Order Granting Admission Pro Hac Vice of Elizabeth S. Campbell, Esq. to Represent the Official Committee of Unsecured Creditors
http://www.kccllc.net/documents/0812229/0812229090507000000000003.pdf
http://www.pepperlaw.com/LegalStaff_Preview.aspx?LegalStaffKey=296
Up or down?
There was a whole lotta dumpin' going on.
Thanks. I agree that IHUB investors alone cannot hold this one up, and it will be interesting to see if it can hold .10 "this time".
BTW, isn't it amazing how many posts get lost in cyberspace?
It looks like more than a slight decline.
It will be interesting to see tomorrow's action.
Last Friday opened real ugly but turned up in the afternoon.
I was visiting relatives, turned on my computer, and my Us and Ps were bleeding hard. I certainly didn't like what I saw today, that's for sure.
Where do you think the share price is headed until news comes out?
Well, I could probably benefit from it, but either way, we should all say a prayer for a nice green day for AMNE tomorrow.
I think we'll see green tomorrow, but I've obviously been wrong before.
I expected profit-taking too, but that was excessive throwing into the bid.
Hopefully there is a real bottom there.
We'll see what happens tomorrow.
BTW, are you trying to send me a signal with your sig?
FYI- My sig is exactly how I want it to appear.
Cheers!
I just don't like seeing people buying into a stock that's up 1000% is all. I know that people that make that decision deserve what they get, but I just wanted to send out a couple warnings, that's all.
Nice job on the huge gains, and hope you took full profits.
I am a firm believer in take it when you can get it.
No offense intended, and you won't see me here anymore.
Just wanted to put in my 2 cents, which could be worth more or less than that, depending on who you ask.
GLTY too !
[||peace||}>
What is your interpretation of the chart?
He was planning on resigning by the end of the year, but something must have come out.
Here is the April 29th article.
UPDATE 1-NY Fed board chairman to resign by year-end-NY Fed
http://www.reuters.com/article/marketsNews/idUSN2945501920090429
Fat finger or what?
Don't worry about it.
Just take my advice and take your profits, and hopefully for your sake you didn't buy in today.
: ^ )
More power to you.
I've never shorted a share of anything in my life, but if you're long, then you just wait and see what happens.
This thing is going to drop like a ton of bricks.
GUARANTEED.
It's already down over $2 from the HOD, and that is only the beginning of the descent.
Thanks for playing.
I'm not doing either, but I say how much it increased yesterday in A/H and know that it wouldn't hold.
This is going to continue to drop, so if you're up big, just take your profits and watch it fall.
Really? You'll take the PPS up all by yourself huh?
Look at all of the weak people selling into their bid for their little gains.
Not smart.
You are going to want to be holding when the next news comes out.
Your guess is as good as mine.
It is clear that they don't want it to go up though.
If you're long, don't be foolish.
Sell.
This will continue to go down, so be smart and take it when you can get it.
Let somebody else be the bagholder.
I wouldn't pay for a service that isn't accurate.
Word on the street is wrong.
Crunch the numbers and do a proper valuation of the company's worth.
How many schizos do you think there are out there anyways?
Cheers to those who sold and made bank. Too bad for those that are buying in right now.
Well yours is missing a 1 between the 1 and the 2 .
There are MMs on the ask at .112 , .114, 2 at .115, .116, .118, and 4 at .12 , so I'd say we are far away from the ask being at .12 .
A lot of ihub's info is wrong, and I wouldn't trust their level 2 or trade info at all.
Just like that day that showed a sub .03 trade. There was no trade that day under .03 .