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MFFAIS shows Vanguard, among others, are loading up on ABK and WEL recently!!
GREAT INSIGHT TO MUNICIPALITIES RE MONOLINES
http://www.npr.org/templates/story/story.php?storyId=96743141
Hahahaha, thanks FLA, but that's less than half of what I paid. I jumped into this before I knew what I was doing! So far all I've got out of this are 2 ulcers and over a 50% loss. So when I see a gagged TA and management telling the stockholders to take action getting their certs I get really pissed! I have a really novel idea, how about management doing something to accrue to the SP??
WPO, thanks. I was seriously thinking of selling some of my other holdings at a loss to buy more SPNG. I'm trying to save my house from foreclosure. When people post to these boards they should consider that they can really screw someone's life up with hype and misinformation.
Maybe it wasn't Dollar, but there are opaque references in yesterday's posts to something big happening next week or sometime real soon. Read posts 19000 through 19017.
Yes, and I think it was Dollars that left a cryptic message that there appears to be something happening on November 13th.
Snake, excellent post. When one removes all emotion and hyperbole from their rhetoric then it can come down to none other than what you iterate!
I've been absent from this board for a while. Can anyone tell me, is there there something big coming down the pike? I've noticed comments that would suggest that. Please fill me in. Thanks
WPO, I'm holding just under 300,000.
I don't believe they can legally short from your stocks with a cash account, however NSS to my understanding has no parameters as they are dealing with fiat shares (air shares).
WPO, what's going on here? I've been absent from the board for a while. Everyone is acting as if something is up. Why is it being recommended to get our certificates? That won't stop the NSS. Also, my understanding is if you have a cash account those shares aren't available for the legal shorts. It sounds like there's something big cooking here, the question is what? Hope it's not a R/S just to get us on the big boards. Do you have any ideas what's going on?
NO WONDER VANGUARD'S BUYING, look what we missed from November 4th: (Moody's Is Screwed Big Time!)
UBS CFO Confident Monoline Fincl Impact Not Major
(Adds detail.)
ZURICH (Dow Jones)--UBS AG (UBS) is confident its exposure to U.S. monoline
insurers won't cause a major financial hit, the Zurich-based bank's financial
head said Tuesday.
The monoline exposure isn't part of a recent deal over $60 billion in
illiquid assets with the Swiss central bank.
UBS is among a group of major banks in negotiations with the three leading
U.S. monoline insurers - Ambac Financial Group Inc. (ABK), FGIC Corp., and
MBIA Inc. (MBI) - over commutation of insurance contracts, meaning they seek
to cancel the insurance in favor of access to the underlying securities.
UBS Chief Financial Officer John Cryan said it expects various agreements
with the monoline insurers shortly.
In the quarter, Cryan said UBS' proprietary traders lost "a few hundred
million" dollars in equities, hampered by short-selling bans in several
countries. The bank is in the process of winding down propriety trading -
buying and selling securities on its own book - as part of a dramatic
reduction in risk taking.
Keyword search: monoline
11/04/08 01:33 p.m. PRESS RELEASE: Moody's Assigns First-Time Ratings To Toyota Compania Financiera De Argentina S.A.
11/04/08 12:27 p.m. =DJ HEARD ON THE STREET: UBS Needs All The Capital It Can Get
11/04/08 09:59 a.m. PRESS RELEASE: Moody's: Credit Outlook For Auto Finance Sector Is Negative
11/04/08 07:10 a.m. DJ UPDATE: UBS CFO Confident Monoline Fincl Impact Not Major
11/04/08 06:44 a.m. DJ UBS:Confident Fincl Impact From Monoline Exposure Not Major
11/04/08 06:26 a.m. *DJ UBS CFO: Seek To Commute Monoline Contracts For Access To Secs
11/04/08 06:24 a.m. *DJ UBS CFO: Continues To Negotiate With Monolines Over Commutation
11/04/08 06:24 a.m. *DJ UBS CFO: Confident Fincl Impact From Monoline Exposure Not Major
Do keep in mind that the MFFAIS site is showing us the date they posts buys/sells, not the date of the buy/sell, however Vanguard's buy is recent.
Interesting, Vanguard recently added over 9M shares!
http://www.mffais.com/abk.html
Wallis Says Ambac Extremely Solvent, May Be Open to TARP
http://www.bloomberg.com/avp/avp.htm?N=c...
http://www.bloomberg.com/avp/avp.htm?N=ceo&T=Wallis%20Says%20Ambac%20Extremely%20Solvent%2C%20May%20Be%20Open%20to%20TARP&clipSRC=mms://media2.bloomberg.com/cache/vPGRmM9ZVesk.asf
CHECK OUT THE FOLLOWING:
http://www.gurufocus.com/forum/read.php?1,37995
FOR THE BOARD:
Please be aware that the MFFAIS website, while being very informative on what funds or institutions own what stocks, they do not post the actual buy or sell dates, only the date it was posted.
A Great Post by Vegas0825 From The Yahoo Board:
What do you think will happen when this @#$% hits the fan?
The biggest risk to JPM is counterparty exposure given the significant
movements in value of underlying assets and exposures. The second
risk which is large but dwarfed by the former risk is effectively
managing this extremely large market position. With regard to
counterparty risk, JPM has exposure to:
* Selling (and purchasing) protection on RMBS, CDOs and other
exposures to commercial, investment and regional banks (JPM has
exposure to the underlying assets)
* JPM is the world's largest writer of synthetic CDSs to structured
CDOs and has exposure to the positions created for the synthetic
CDOs
* Large insurers to which JPM will have both sold and purchased
protection.
* Monolines (Ambac, MBIA, FDIC, XL etc) directly via sale/purchase of
protection and indirectly given that a significant portion of assets
on which protection is bought/sold is guaranteed by the AAA
monolines.
* Companies on which JPM has sold protection.
The greatest risk to JPM is in its exposure to protection purchased
from the Monolines and the SIVs and synthetic CDOs, and the protection
sold to other banks on RMBS, CDOs and other asset exposures. In
commenting on its exposure to Ambac and MBIA, Mr Dimon recently
characterized JPM's exposure as "kind of OK."
JPM is a dark horse and to date has been relatively unscathed by the
subprime meltdown. However, watch the CDS space going forward.
JPM has 90 trillion, 90 trillion, 90 trillion yes 90 trillion in credit derivative exposure. Bank Of America and Citi 38 trillion per.
WB and HSBC 9 trillion 200 billion.
WF and Bank of NY 2 trillion 75 billion.
$90 Trillion dollars derivative exposure for JPMorgan ? No wonder the Fed "rescue" of Bear Stearns was via JPM -- it was their own derivative exposure that was at risk.
Now do you think that after all this hard work with tarp they will let one itsy bitsy bond insurer bring the whole world down?????
Bank of NY Melon is Buying ABK Again, 305,000 shares!
http://www.mffais.com/abk.html
JP, thank you so much for your response. Your insights here I'm sure are appreciated by all.
Found this on the Yahoo Board:
DOW JONES NEWSWIRES
Ambac Financial Group Inc. (ABK) received approval Thursday from Wisconsin's insurance watchdog to transfer funds from the company's insurance arm to its financial-services unit after Moody's Investor Service cut Ambac's credit ratings.
"The Wisconsin Office of the Commissioner of Insurance reviewed and approved a request by Ambac Assurance to provide an intercompany facility to support Ambac's financial products," it said in a statement.
Copyright (c) 2008 Dow Jones & Company, Inc.
Here's a link:
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=MsA7vVf... You can use this link on the day this article is published and the following day.
JP, are you saying there is no NSS position here? It's simply a matter of the O/S?
Locquacious speculative hyperbole ad nauseum. None of these arguments change anything. Why not use this board constructively, everyone here write their congressmen and file complaints with the SEC about NSS? Why not? I have done so. The company claims no dilution. Has anyone here spoken to Metter about what they plan to do about the NSS problem? If indeed they are being honest about that, then why isn't something being done about it? This company will not and cannot indefinitely survive the ongoing manipulation plaguing this stock.
Well, if there is talk about that, then now is the time for everyone to start making as much noise as they can to congress and the SEC. As for "serious investors" my reference is to institutions, fund managers, etc. As it stands now I'm amazed anyone new wants into this merry-go-round. With a gagged TA, that's enough to keep most far away from this, let alone the obvious stranglehold and manipulation that has been occurring for quite some time.
I didn't say penny stocks Rook, I'm talking about numerous people making numerous complaints to the SEC and congress about NSS in general. Do you prefer to do nothing? We could just continue to talk about all the buying opportunities here and what great PRs and increasing revenue, but where has that gotten anyone?
Regardless of whether it's dilution or NSS, the fact is this will go down the toilet unless something is done. As it stands now the only way this could ever make it to the big boards is a RS. I'm just amazed so many continually talk about what a good buying opportunity we have while the SP continues in its downward spiral. I've asked this before and the board remains mysteriously quiet, but how many here have complained to congress as I have about how worthless the SEC is? How many? How many have complained to the SEC or filed a formal complaint? Let's get the emotion out of here and take a hard objective look. Does anyone think this stock will attract a serious-minded educated investor? Who on this board can show me where gagging the TA has made any difference in our share price? Any takers? Something stinks here and it's time to take out the garbage. Remember, if you insist on sticking your head in the sand you leave your ass for a target and will get exactly what you're asking for.
Lurker, here's why I believe it's not dilution and is in fact NSS. Very simply, whenever there is any good news of any fashion the SP drops every time! Unless something is done quickly the NSS will completely destroy this company. Most certainly no educated investor will come on board when we have a gagged TA and serious NSS going completely unchecked. I'm weary of the buying opportunities here, how about some value to our SP.
Well, Lurker, if they have another PR or any other good news we will be there in no time. New strategy: Ungag the TA, no more PRs for a while, quit showing our hand to the NSS, maybe these will help. Something's got to work, it sure isn't increasing revenue, increasing sales, new accounts, etc.
I'm heavily invested here, but when you remove all the emotion from this stock it "appears" to be nothing but a pump and dump. A gagged TA is nothing less than poison to any serious educated investor. The TA has been gagged for some time now, so tell me what effect has it tendered? WHAT EFFECT???? Certainly isn't evident in the share price! Certainly hasn't served as a detriment to any supposed NSS position. Enlighten me on the effects of this. Does anyone think any institutions will invest here with a gagged TA? The only thing that is absolutely transparent about our SP is the ongoing manipulation we see daily and perhaps is even exacerbated by a gagged TA. How many on this board have complained to congress about how worthless the SEC is? How many? Anyone besides me? How many here have filed a complaint with the SEC? As things stand now the only way to AMEX or any other big board is a reverse split. At the rate we're going here there are many who won't live long enough to see this go anywhere. Unless something is done, I guarantee everyone on this board that every time this ticks a leg up or down, then a whole new round of manipulation and strangulation will ensue as we've observed now for a long time.
UPDATE: UBS CFO Confident Monoline Fincl Impact Not Major Last update: 11/4/2008 7:10:04 AM(Adds detail.) ZURICH (Dow Jones)--UBS AG (UBS) is confident its exposure to U.S. monoline insurers won't cause a major financial hit, the Zurich-based bank's financial head said Tuesday. The monoline exposure isn't part of a recent deal over $60 billion in illiquid assets with the Swiss central bank.......... UBS is among a group of major banks in negotiations with the three leading U.S. monoline insurers - Ambac Financial Group Inc. (ABK), FGIC Corp., and MBIA Inc. (MBI) - over commutation of insurance contracts, meaning they seek to cancel the insurance in favor of access to the underlying securities............ UBS Chief Financial Officer John Cryan said it expects various agreements with the monoline insurers shortly. In the quarter, Cryan said UBS' proprietary traders lost "a few hundred million" dollars in equities, hampered by short-selling bans in several countries. The bank is in the process of winding down propriety trading - buying and selling securities on its own book - as part of a dramatic reduction in risk taking.
Jim54, exactly! Well put. Anyone here care to chime in? How many here are complaining to congress about the SEC? That would certainly be more productive than all the bickering I'm seeing here. How about some substantive action?
Fla, I think the company is as frustrated as we are, however no matter where the truth lies in this, if you look at many of the different boards there are a lot of investors that are filing complaints now with the SEC, the NY attorney general and writing letters to congress regarding stock manipulation. Many investors here are sick of watching the games being played here and with the heat being applied to congress over the financial debacle and Wall Street, I think we will see some results in the near future. Remember, politicians are vote whores, so if enough of them are contacted by enough people then out of a sense of self-preservation they will act.
UNBELIEVABLE
http://www.boxxet.com/Nickelodeon/On:Viacom_International/
Tons of good news and we still finish the week down. I noticed some on the Yahoo board are actually filing complaints with the NY Attorney General. I've already filed complaints with the SEC and have written my congressman. If enough people here get tired of watching the manipulation and follow suit, then maybe, just maybe something will get done. God knows this isn't going to move on good news, promotions, increased revenue or volume. The entire Wall Street scene is replete with corruption, now is a good time to put the heat on our congress to make the SEC do their job. To say this stock is acting very very unusual is a vast understatement!
JUST A COINCIDENCE??
On October 14 BNY Mellon was selected by the Treasury to be the custodian for the TARP funds and to set up the TARP transactions.
http://www.treas.gov/press/releases/hp1211.htm
On October 31 Bank of New York Mellon added 20% (300,000 shares) to their ABK position.
http://www.mffais.com/abk.html
MORE POSITVES:
http://www.fool.com/investing/small-cap/2008/11/01/3-must-haves-for-any-stock-you-own.aspx
I totally agree with your philisophy X. I've been gobbling up WEL, ABK and DSUP, all big board players that are extremely undervalued right now. Thanks for your input. GLTU
X, have you looked at WEL? I respect your opinion and would love to hear what you say. Thanks
Great Post X!! You are absolutely correct. What's your take on WEL?
http://www.mffais.com/wel.html