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On second thought, I'm not so sure about the new BoD members automatically joining the company as part of a new deal. Here's an excerpt from the article that Seeking Alpha ran last week. I do accept that SA could be wrong...
The stuff in BOLD below did not happen at today's meeting, as Seeking Alpha was expecting.
The Importance of WMI's Annual Meeting
"Why is WMI's annual meeting important? It clears up several matters that will then allow the company to make an acquisition. There will be an important vote to reincorporate the company from Washington to Delaware. Delaware is a preferred venue for several reasons, including more certainty and clarity for amending their bylaws and making future acquisitions. The company will also increase the size of the board from seven to 11.
The company has indicated that they then will be appointing two executive directors, William Gallagher and Thomas Fairfield, and two KKR designees, Paul Raether and Tagar Olson. Both Gallagher and Fairfield come from Capmark Financial (OTCPK:CPMK). Their specific mandate will be "developing and executing on the company's acquisition strategy."
Along with the move, WMI will dramatically increase the number of authorized shares of common and preferred stock and make it easier to raise capital."
Did the last sentence not happen either? Hmmmm...
Ahhh, that makes sense. Thank you.
Curiously enough, why did they only elect the same 7 BoD members when we were expecting them to expand the BoD to 11 members at this meeting?
Nonsense, it could mean lots of things or nothing. What it probably means is that this simple filing was already drafted and once the meeting was held it didn't take much time to finalize and publish it.
End of story.
WMIH 8K: I thought they were going to expand the BoD to 11 members to bring in some strategic business partners. Hmmmm, I wonder what happened?
1. To elect a board of directors consisting of seven members, each to serve until the next annual meeting of shareholders and until his or her successor is duly elected and qualified.
And that's a good point, eating away at the Conversion note shares...thanks.
You think people aren't making money flipping those trading ranges? Half the movement of the stock is from those flippers bringing volatility, which I personally don't mind.
The overall trend of this stock is down, but along the way there will be plenty of flipping opportunities. The only thing that will break that trend will be solid news from the company.
Great comparison Justice. Notice how the chart for ALJJ stays pretty much flat all of 2013. A lot of people were probably complaining and being negative but look how well things worked out over the 3 year view.
Not all that different from the WMIH 3 year chart. I think we're about to go through one of those large upticks soon...JMHO.
With the Accum/Dist line like that the float just can't get much tighter before KABOOM!
Yes and No. You can download their app...or you can go to google and search for it and open it that way. When you do that it opens without forcing the app download.
Great article by the way.
New Article about WMIH just published by Seeking Alpha.
I haven't even had a chance to read it yet.
http://seekingalpha.com/article/3091686-a-catalyst-for-wmi-holdings-to-finally-begin-utilizing-their-nols?source=email_rt_article_readmore&auth_param=d8olm:1ajiiov:3bfdb0ade2cb80c14ddd0176229eefa8&uprof=45
Big volume at $2.60 but no movement. A "connected" whale is loading up. Should see movement this afternoon.
Golden Cross is happening! Spread the bollies! It's Kaboomage time!
Chart: I don't see any recent selling here. He must be thinking of another stock...
Money Flow has been positive since April 1st. Those "in the know" are controlling the price range so they can load up on the cheap. Let's see if they let the price break out of its range this time or they keep it here a little longer. Personally I don't mind the opportunity to buy more at these levels, but that's just me.
PPS moving up quickly this morning. Might be in reaction to late day volume we saw yesterday. Decent volume hitting here, let's see if it lasts.
Did I say something about 4 horsemen? I don't give a shit who's right, it's just a chart. Look at it, don't look at it.
The Chart agrees.
The Chaikin Money Flow has been positive or break-even since the 2nd week in January. Accum/Dist shows that strong hands are holding more and more of the cards. Float shrinking...
And the Moving Averages are headed for a golden cross in the near future...right around the time I expect the company to get business active. JMHO
Ok, so what? Are you going to call up Susman's crew and point this out to them or just talk about it on a chat board?
Nice chart Justice! The Accum/Dist shows just how tight the BIGS have wrapped this thing up for the past 14 months. They've really controlled the trading range to the benefit of buyers. It won't take much volume to move this now.
Best,
TP
How much money does it take to bring Ps to $1000/share?
TIA
I agree, looking for same. eom
Chart: Bollinger Bands are getting really tight. This is ready to move one way or another. Looking positive but those that control this may want to keep it down longer so they can keep loading up cheap. Time will tell... If it holds out long enough we might get a golden cross with an ascending MA(50) moving up past the MA(200). Good stuff
This board gets so caught up in everything else besides the actual stock called WMIH. I figured once in a while we have to take a look at the chart to get back to basics.
Plus like you said there's lots of indicators on that chart.
I think it'll be soon, but not till news breaks. I bet they don't let it get any higher than $2.25 today. But I been wrong before and would welcome it with WMIH.
Man the price of this stock is being so tightly controlled around that $2.20 line since Dec 22nd, and substantial volume since that time too! Look at the behavior of the stock against the money flow: When big money is buying into the stock the price stays flat or slightly down. And when money leaves the stock they let it drop like a rock. Big time manipulation and price control...the BOYS are loading up and when they've had their fill they'll let it fly, imo.
Everyone was so happy that you were back...until you started making predictions. LOL!
On a serious note, the answers you got were valid and informative, from the standpoint of M&A. Escrow shares...that's another story, which I don't even touch. If it happens, it happens.
Great post, this is why I barely read anything on this board anymore. It's all repetitive conjecture and speculative junk. Tiresome nonsense. When something happens we'll all know about it.
Looks like some inside players were getting into position today. They've really been controlling this price channel while positions are being taken this month. When they let it go...Look Out Above!
I saw that! So much strength in gold right now. I'm looking to buy more on dips but there's barely any. My only reservation is the RSI on the chart has moved into Overbought mode, but I've seen stocks run a year straight with the RSI pegged, so it may not matter. Gold is a fundamental mover right now more than technical anyway.
This year will be the year that the 10+ year bull run continues, imo.
Good report! The last 2 years have been a gift to buy Gold/silver at these levels, imo.
You think the FDIC can bankroll $1+ Quadrillion dollars in derivatives??? LOL
Further, you're wrong about the banks OWING depositors money. They only OWE us the interest we made on it. The rest of the money is my hard earned money that I deposited there for safe keeping. When did my saving account become a loan to the bank?
Of course, with Fractional Reserve Banking they don't even have 10% of the money represented in their digital accounts.
Yeah...who won't get paid back when the bank files for bankruptcy and never pays their creditors back, thereby using their money to pay off their liabilities, which of course are $$Trillions of bad, high risk gambles in the derivatives market.
So once again the bankers can lose their bets but don't get punished, we the tax payers do!
The most recently passed federal budget has new language in it defining bank customers with Savings accounts as "Creditors". It also re-defined the Asset Liquidation waterfall for bank bankruptcies to pay off shareholders first and creditors last.
Who are the biggest shareholders? Other bankers, board of directors, ect.
Who are the Creditors? Ordinary tax paying citizens with a savings account.
Can you see a Bank Bail-in on the horizon in the US?
There was very little mention of the NPSP...this is was the only real disappointing aspect of this NR. I would think this would be a priority for 2015.
Folks better hold some physical gold in this world. The budget that was passed in December by Obama, and no one was allowed to read it, contained new language written by none else than the BIG banks of Wall Street.
Evidently anyone with a Savings account in a bank has been re-defined as a "Creditor" instead of a customer. They also flipped the Asset Liquidation waterfall priorities (for bankruptcy cases) so that shareholders get paid first and Creditors get paid last in the banking industry. What does this mean? It means they're setting us up for a Bail-in in this country.
It means that when the banks declare bankruptcy (and they will) the shareholders (i.e. Board of Directors) will get paid first, then liabilities, then way down at the bottom the Creditors will get screwed. Another words, they're going to steal the hard earned savings from Americans to pay off their massive gambling losses.
I'm advising everyone I know to start moving money out of savings accounts. Checking accounts may not be much better, and I wouldn't be surprised to see Pensions get fleeced too.
I don't think the charts will ultimately predict what will happen with PMs, nor do you. There are so many working parts moving and interacting with each other on a global economic and geo-political scale, and ultimately the natural order of things will force a movement towards correction and balance against the un-natural forces that have been manipulating the markets the last few years.
Here's a couple good articles from last night:
http://blog.milesfranklin.com/a-global-margin-call
http://blog.milesfranklin.com/panic-mode
These after hours filings probably are regarding the shares being scooped today, and maybe yesterday, at a strictly controlled price range.
Things are looking up here, for sure.
They certainly could use something easier to bring to full commercialization than Pebble... Hmmmm
YES, that would be an even better development!
If you're right this is great news. Maybe JB found a Phase 1 financier who's willing to give a little more than just the drilling costs.