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"Can you smell what the buyers are cooking". Buyers want cheaper shares but it looks like the sellers are holding their ground. "Ante up boys if you want more"!
What was the last closing price?
I haven't looked yet but where is the 2009 bond in relation to yesterdays 94.50 price?
Yes I did. I realize that the cross is only a lagging indicator of where the PPS has been but do you think it will have any affect on the "bigger" traders. These guys trade on technicals, and it appears they like what they have been seeing, so do you think the crossover will play any type of a factor into their trading decisions?
Thank you SRQ for the correction. I did get the two numbers mixed up.
Crossover is obvious on the charts now. 200 day @ .52, 50 day @ .50. Will we see some affect from this soon, I sure hope so.
I agree that once $1 gets supported for a period of time many new tutes who specialize in OTC and Pink Sheets will jump on board. Regardless of the outcome of the POR in November the opportunity for some good short term gains will be irresistable to many tutes. Maybe we get a look from those tutes who have their own regs in place against investing in delisted companies also. IMO increased interest is inevitable once the $1 mark is sustained.
Longer sustained moves also
If the retrace does happen estimator, I don't think we will go lower than .91 IMO.
I think you are right. We could retrace tommorrow and maybe even Thursday, but IMO come Friday we will be on our way back up.
Your absolutely right, wouldn't surprise me if we closed at $1 plus on late buying. I hope your right.
Going to fall below .08 before a climb upward.
If it gets there it better do it in 39 minutes. Would be nice if you guys were correct, though it's looking like we will fall a little short.
Chemtura.com (Financial Restructuring). Then go to court documents and pick the docket # you want. Or go to MadClown's Chemtura Blogspot later.
What's BK costing them a month? Do you have any ballpark figures?
There are no regulations that prohibit tutes from trading in pinks. Some tutes prohibit their fund managers from trading in pinks because of the volatility, however tutes are free to take on new positions in pinkies if they find such an investment siutable. Some tutes won't touch a delisted stock either, although there are plenty of tutes out there that specialize in OTC and Pink Sheets, and that list should be getting much larger soon.
How much has the BV increased?
Maybe the PPS is being held in this range today awaiting the MOR release later today? Calm before the storm!
I'm not trying to answer my own question. I'm sorry if you find me annoying. I was only attempting to give my opinion about something others have speculated about. Thank you for being civil Floyd this time. I'm not trying to rain on anyones parade. My intention on this board is only to be helpful, nothing else. Should I post any further comments I will try to keep them short, informative and to the point.
Though there are no regulations that prohibit tutes from investing in OTC or Pink Sheet stocks many have self imposed restrictions on investing in delisted companies because of volatility issues. Many of the tutes that will jump onboard once this hits $1 specialize in penny stocks, however once Chemtura gets relisted, and they will, the real players will come onboard. Things are going good now, but will only get better when the Goldman Sachs of the world take notice.
Will more institutional investors jump onboard once this goes over a dollar? Many on this board have commented that the reason for the lack of activity from the tutes is due to price requirements. Many mutual funds' charters directly prohibit their managers from investing or holding penny stocks (those traded on the OTCBB and pink sheets) and generally stocks under $5 dollars, however mutual funds are not obligated by any regulations to have such clauses, and there are mutual funds that specialize in penny stocks. I think the $1 mark will be a self imposed entry point for many of those tutes that specialize in penny stocks. Those watching from the sidelines will get in the game once the PPS goes over the $1. The upward price movement will accelerate and we will go much higher, much quicker than most anticipated.
Can you say pullback?
Closing in on .90
Could we see $1 by the end of trading this week?
500K @ .86. Whoever sold is going to regret that.
I am not as skeptical as I once was either, however just because bondholders have confidence in payments due doesn't necessarily mean increased security for us. Those that are buying the bonds may know something, and obviously feel the risk is very low for "themselves", however this activity doesn't give "us" any guarantees. Things do look good right now, but the fact remains that we still need to temper our optimism with caution. I'm just trying to be real here guys, not trying to piss anyone off.
.02 gap now until 50 day and 200 day MA's crossover. Even though the golden cross is only an indicator of where the PPS trend is heading, often the PPS will spike in one direction or the other after the crossover. There is no guarantee of a PPS spike, but the odds of it happening are pretty good.
Good strategy. Compared to yourself I am a very "small fry", however I plan to do the same. I have a target price in mind before the POR gets filed. I will lighten my position when I reach my target price or shortly before the POR is filed, whichever comes first, however I plan to ride out at least half of my position and see what happens. I'm optimistic, but I'm also not greedy.
They put on a great show, saw them in the early 80's, but haven't had the opportunity since.
Sounds like you will be lightening up on your position prior to the POR? Not going to ride out your entire position?
Did someone mention the PPS would go up in small steps today? It was you Manti, wasn't it? Looks like you might be right on the money. I be surprised to see us close below .82. Small gradual inclines are ok with me.
Will shareholders receive a summary of the POR from their brokers prior to the November filing or do we not have a right to view this? We may not be able to vote and confirm the POR, but do we at least get to view it?
It doesn't appear that an EC is needed at the present time, however I thought one of the roles of the SEC in chapter 11 cases was to appoint an EC to safeguard the right of the shareholders, irregardless of whether or not they felt a need for one?
I agree totally. It's evident that those buying the bonds have been given some sort of assurances whether direct or indirect that the bonds they've been purchasing will be paid in full. Rogerson indicated that the bondholders looked very favorably upon Chemtura's 5 year plan. They must have a good idea of what's in the "plan" for emerging from bankruptcy. I wish the h*#$ we weren't so in the dark!
Me too! Do you think some inside information has leaked that we are not privy to?
The PPS did drop some prior to the release of the last two MOR's, however the PPS regained upward momentum not very long after. I believe there were a number of write downs and goodwill taken in the 2nd quarter. Production costs have been cut further as well as other expenses. I think we will see a very good MOR for August, perhaps better than expected. The MOR will probably be available for us on Wednesday, and will show that Chemtura once again operated in the black for another month. By the end of the week the PPS should feel the impact of another good MOR, IMO.
Will shareholders receive a summary of what's in the POR before it is filed? I know that shareholders often do not get the right to vote on the POR, but it's my understanding that we should receive a summary of what's contained in the POR prior to being filed with the court?
The chapter 11 plan classifies claims against the debtor, specifies the treatment to be given each class of claim, and provides the means for carrying out the plan. As a shareholder don't we have the right to know what's in the POR and how Chemtura plans to handle the different claims creditors have filed against them, even though we may not have the right to vote on it? Also, a shareholders committee has not yet been established, why? I thought that one of the roles of the SEC in chapter 11 cases was protect the rights of the shareholder by establishing a committee for them?
Combine that confirmation from the judge with information on an asset sale and we'll be in multiple dollars in no time!
Have the bondholders made any proposals to judge Gerber and the court that anyone knows of?
I doubt very much Chemtura is willing to give up the benefit of it's NOL.
Chemtura's ability to use its net operating losses and other tax benefits would be substantially limited by Section 382 of the Internal Revenue Service code if an "ownership change" occurred - generally, a greater than 50 percentage point change in ownership of common stock by shareholders owning (or deemed to own under Section 382 of the Code) 5 percent or more of a corporation's common stock over a defined period of time.
Pretty good incentive to keep things the same.