Lovin' it !
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
It would likely take a year of testimony on WaMu's insane lending practices alone.
Former/current WaMu executives/staff will be grilled and completely smeared by JPM's and FDIC's lawyers, and imo, this is not a case for a jury trial.
That is the only mistake I think WMI's team made throughout this whole process so far.
They should have never requested a Jury trial.
Either way, this process will take years, no matter what anybody says about it, and I suggest some of you read wamook's recent post on yahoo and was something to the effect of being able to go to college and put yourself through law school before the last appeal is filed in these cases.
You need to come to grip with the word years stockwizard.
by how much ?
What does A - L = ?
Did you notice that as soon as buys started coming in NITE moonwalked to .0013 ?
ETMM is the one that is selling right now and good old AUTO is on the ask at .0011 still too.
Nice pick-up.
I think those that dumped at .001 and .0011 finally got flipped out.
5M share buy at .0011, 1,876,400 share buy at .0011, and a 3.2M share buy at .0011.
I don't think there is a real reason for them to cover.
There isn't any good news coming out anytime too soon, imo.
There should be plenty of wild rides available for several months.
JPM and BAC are both above their 50-day SMAs now and it LOOKS LIKE they are holding.
MGM is on a tear as always too.
I think the headfake is going on right now.
We were just green, but imo, no way we close green.
Guess I was wrong about CIT, but it's coming.
The writing is on the wall.
Bondholders win, shareholders lose.
PERT's order was first up and was placed days ago. He was first up and is sucking up the .001s, and DOMS, PALC, and ABLE are still waiting for shares.
Tiny % of the O/S and there have been no SEC filings or other filings of intent to acquire shares.
Think about it.
IF anybody had inside information about a buyout/settlement/whatever, they would not be stupid enough to go post that inside informaton on a MessageBoard along with the source from which the supposed insided information came.
The FACT of the matter is that this will take years not only because of the nature of all of the formal proceedings involved, but also because of the FACT that even if the FDIC could pay up right now, they wouldn't do so until several of the current bankruptcies have long since passed because if they lose the capital contribution portion of the WMI suit, then they would owe a TON of MORE MONEY THEY DON'T HAVE to several institutions such as IndyMac, and in IndyMac's case, the OTS was actually allowing the back-dating of capital contributions, which , if you you ask me, is a slam-dunk case against the FDIC simply because of the obvious illegal acts admitted to by the FDIC.
I know most people on this board realize how BIG these cases are, but unfortunately BIG CASES don't come to final resolution in a matter of months.
This is a trade, as are the preferreds. That's the way it is.
You can buy and hold and sit by while others make actual money, or you can buy and sell and stop being emotional.
It sucks that many of you lost money on what happened, and I believe you will all be at least partially compensated at some point, but to think this will get major media coverage or come to a quick resolution because JPM "fears" discovery, then I'm hear to tell you that you are wrong.
Also, Jamie Dimon talking about a secession plan in the previous days had nothing to do with WAMU and EVERYTHING TO DO WITH BAC.
Read the NEWS.
Crazy.
Makes me wonder if the shares you have are even real or if they are just phantom-FTD shares.
Just imagine a $12 settlement, only to find out you were holding fake shares.
Naked short-selling should be completely OUTLAWED because it destroys the value of stocks.
THEY "succeeded" with THEIR goals.
This will get resolved, but it will take years to move through the system.
BTW mr diamondguru, whatever happened to WAMU exiting bK by the 3rd quarter ?
11.7 Million in T-Trades at .0011 just got punched through.
.0011 is the 200-day SMA . Hopefully today was the last test of .0011 .
The Dow is going to 8,600 short-term.
JPM, BAC, and MGM all closed below their 50-day SMAs, and I think they are all going to be going down pretty hard. JPM will got to $38 pretty quick imo, and I think BAC will be moving lower as well. MGM seems to do its own thing, so I still think it's one to keep an eye on.
I also think CIT will get squashed in AH trading today.
HBAN should be pretty solid around these areas, but maybe the 4.10-4.20 range will be the best to pick some up for a quick flipper.
If the market sell-off continues, look for MGM to break $10. Pick some up at $9.75 or so and you will get atleast a $2-3 gainer on the bounce imo.
If you get in and it falls through the 50-day, just buy more at the 100-day.
The thing has been trading like an animal.
HBAN was upgraded yesterday too, and later this afternoon might be a good time to pick some up. Unfortunately I think the days of being able to consistently get $4.00s is over.
Looks like JPM is just going to test its 50-day SMA, and I think WAMUQ will be doing the same thing sooner than later.
It's funny you should bring that up.
I was looking at the 180-day Daily chart of SYNJ a few minutes ago, and I paid particular attention to the Accumulation, specifically the accumulation between April 7th and June 8th.
Almost 4 BILLION shares were accumulated in that time frame. That is more than the A/S and O/S were at that time, much more, and anyone who doesn't think that there are a MEGATON OF SHORTS out there is crazy. "They" sold A LOT MORE SHARES THAN "THEY" HAD. The MMs and brokers know that they will have to cover, and I'm pretty sure they know they will have to do so at much higher prices in order to cover their positions. Also, it is no coincidence that Scotturd has them on their no-buy list. It seems to happen with all of the pinks that run-up hard and hold at levels that are much higher than previous levels.
If you look at a chart that shows March 17th to June 15th, you will see that Accumulation actually hit about 4.5 BILLION on June th.
Real companies on the pinks shoot up into the pennies for several reasons, and one of those reasons is the need for brokers to actually have most of the shares they are supposed to have.
I already went all-in SYNJ. I own no other stocks, and if I need any cash, I'll just use SYNJ as money-market fund.
On a similar note, I'm pretty sure the OBV was completely jacked for a while and seems to be ready to rock.
They bought back in at the .10 range after they took a substantial loss from their old holdings.
It is clear that some people don't pay attention to details, and those same people obviously don't understand the way the American Court System works.
NITE and ETMM are the smart ones.
They are letting AUTO continue his/her dumpage. They are buying up the .0013s, and they are letting AUTO sell at .0014 while they are waiting to sell at .0015 .
I just think it is funny that the only ones offering to sell below .0023 are the three amigos.
The reorg plan is not due on Oct. 21st.
I have read almost every court document since the very beginning, and imo, WMI will get a lot of $$$$$, but they will get it from the FDIC, and they will not get it for quite some time, and they will not be
With regards to the FDIC being given a "major black eye", I would respectfully submit that the FDIC alrady has a bruised face, and the FDIC is indeed a complete joke. They are, for all practical purposes , a joke already.
With regards to the FDIC using the OTS as a pawn, one could argue that given the fact that the OTS was/is full of corruption (aka backdating capital infusions), the OTS' assessment that WMI was well-capitalized was dead wrong, just like most of the decisions they made over the last couple of years. So, a fact sheet coming from the OTS is, imo, worthless. If WMI gets their capital contributions back, then IndyMac and other companies will also be entitled to get their capital contributions back, which , imo, will never happen.
JPM will have to pay a little (compared to what they got), and the FDIC will have to pay a lot, but the end game is not even close to being in sight yet, imo.
Thank you kindly for your service, and God Bless the USA !
There will not be a reorg plan presented in October.
Anyone who is claiming that is wrong.
You obviously haven't looked at the court dates in all of the related cases.
To say that "Oct. will be it" is simply a completely baseless claim.
Thanks!
"WAMU turned down $8.00 BUCKS for a reason !!! they aren't taking a DIME less than 2 TIMES VALUE....watch how this plays out."
Don't worry diamond, we will definitely watch how this plays out.
That is the FUNNIEST post I have ever read !
Thank you!
Look at his posts.
He has been dropping unsubstantiated "clues" for several months.
He acts like he has inside info, but it is clear he does not.
The one becomes three and the three become one.
ROTFLMFAO
If you don't think JPM can afford to give back $4 Billion then you haven't looked at their cash-on-hand lately.
The figures being tossed around on the board do not take into account additional costs, lawsuit settlements, lawyers' % of and FDIC settlement, bank bondholders, etc.
Unless WMI wants to fight the FDIC for several years, they will likely accept a settlement from the FDIC that is approximately half of what they are asking for.
Many people only see what they want to see, and it doesn't surprise me that you come up with the same thing as the board.
I'll leave you all alone here now, just wanted to chime in with some reality. Oh how nice it is to tell each other that you will get $12 -$24 and that the "end game is near", but just because you say something doesn't make it so.
I think when all is said and done commons will be valued at $5-$6 .
I don't hold much of a position right now, but I will be in-and-out several times over the next several months.
I don't have a link, but I will state that this will not be halted as some claim it will be. There are other BK stocks that are near or well over $1 that never got halted. They got traded up because that's the way it works.
TPG gave up their protection and no longer have an agreement regarding the difference.
I could post a link, but I choose not to.
There are plenty of "DDers" that should be able to verify my statments with little trouble.
Links, DD, proof ?
It won't be until the end of October at the earliest, so you're wrong again, just like when you claimed multiple times that WAMU would be out of bk by the 3rd quarter. You actually claimed several times that they would be out of bk BY the 3rd quarter, but you weren't even close.
Also, $12 will never happen because JD will not be buying the holding company.
He will have to pay/settle certain issues, but a full-blown buyout will NEVER HAPPEN.
You are wrong.
Look at it again.
According the the statement, commons should be valued at $0.00 , not 6.90 .
Assets - liabilities - preferreds = equity
Right now, equity = 0
Nice try!
You won't be able to buy cheaper than .0015 .
Nice flip, too bad you won't be able to buy back in cheaper.
"He said the university is seeking a $25 million federal stimulus grant to produce biofuel. If S.C. State receives the grant, it would be the lead organization in a consortium, along with the Penn Center, the Williamsburg County Development Board and Sentinel Renewable Energy."
http://www.scsu.edu/news_article.aspx?news_id=846
Nice to see a legitimate 3rd party reference to SRE !
I smell BIG NEWS brewing, I'm glad Scottrade customers can't buy, and I'm glad that there are a lot of people on the sidelines waiting for a "catalyst" or anything else.
Filed 9/21/09
Looks like he cashed in 3,000,000 shares of SunSi .
http://www.sec.gov/Archives/edgar/data/1407268/000089387709000342/xslF345X03/primary_doc.xml
Will he be putting some money into SYNJ ?
Maybe Laporte is going to jump ship and fully join SYNJ.
Didn't he recently sell like 3 Million shares of Sunsi ?
This message had some good Edgar links, but they links don't seem to be working right now. (maybe knack can re-post them)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41842406
Is he cashing in with Sunsi and becoming a full-time member of SYNJ ?
If that is what Laport is planning, he will bring a lot of valuable experience to SYNJ.
I'm just trying to offer a different point of view.