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blackcat, I wouldn't even speculate on what the heavy hitters have done, are doing, or will do.
From my viewpoint that is a pointless exercise. As far as I'm concerned it all boils down to the numbers; the fundamentals and the technicals.
The chart (technicals) seems to be saying this is going a ways lower.
And the fundamentals won't be known until they file with the SEC, OR the Fed steps in and forces them to recalibrate their reserves. If they can't meet the requirement then they have to shed assets and fast. And everybody will know about it IF it happens.
You see, the Fed is now insisting that these financial institutions value their assets by "mark to market". I'm sure you've heard this phrase. Unfortunately, if there is no market for those assets then they have to write them down to a lower level, or ZERO. Their leverage exposure goes way up and so they have to immediately come up with a lot more cash reserves.
This is exactly what took out the previous three high-profile financial institutions. They were all speaking with high confidence until the Fed stepped in and forced the issue. Then, by the time the truth came out, it was too late to do anything to save themselves. They all bet that they could make it thru their individual "liquidity crisis" by just keeping quiet. They lost that bet, thanks to the Fed.
The only factor that I see that is substantially different is that WaMu is a commercial bank, whereas the others are (were) investment banks: retail vs. commercial. But virtually all of these institutions are insured by AIG. And AIG is going thru the shredder this week. WaMu could be next.
Where the WaMu PPS is now it is obvious that bad news has already been priced in. The market seems to be pretty smart about these things. But the REAL bad news (if there is any) hasn't come out yet. I guess we shall see about that...
As the gentleman said: "Place your bets!"
Good Luck to everyone!
bbd
matt24d, "If things were as bad as everyone thinks..."
So you're saying that because they did NOT get bought by JPM, then everything must be OK.
What is that? Martian logic?
Or just, plain ole fashion, forum spin?
Suppose they didn't get bought out because they're in far worse shape than the public knows about?
I already know your answer: "Place your bets!"
LOL
bbd
matt24d, "They have plenty of cash..."
They certainly have a lot of cash. But the amount of cash is not the issue. Will it be ENOUGH?
By continuing to focus only on the cash position you are ignoring the real problem that is affecting all of these financial institutions.
It will be enough "cash to get them through the next year or more" if they write down their loan portfolio of bad loans, as the other institutions have been FORCED to do. But right now no one knows the full scope of that loan portfolio. If they do a write-down the asset base of the company falls and the share price takes a big hit.
blackcat, That's certainly NOT the real reason he was fired.
Perhaps I should have used the word "reason" instead of "explanation". Yeah, sure, there is always an "explanation". The question is whether it is truthful.
Follow the links to the subsidiary companies they own.
The other web sites look strangely similar, same pictures, etc.
I guess they bought a four-pack of web sites. I hope they got a good deal.
LOL
bbd
The lack transparency in their business model...
...is exactly like the previous three high-profile institutions that have recently failed. Those other institutions all claimed that they were doing fine and appeared to be holding firm, right up to the last minute before they failed. Each of those companys had a opportunity to act to save themselves by selling assets. They chose not to act for whatever reason and now they're gone.
I'm not saying WaMu doesn't have the liquidity they claim. They have been claiming this for months, and their chief spokesman was just fired without explanation.
There is another ARM variable-rate loan re-calibration coming soon. That will most likely generate a whole new round of sub-prime foreclosures. After that we should know more about WaMu's exposure as bad loans become public info. Common sense should tell you that WaMu will be impacted and their liquidity cushion further eroded.
It is just going to take a few more months for the truth to come out. Meanwhile it is the market fear that will rule this "investment".
gowitdaflow, "Retail deposit balances at the end of August stood at $143 billion..."
That's NOT WaMu's money. It belongs to their customers.
Suppose there should be a run on the bank. What then?
They have to offer higher interest rates in order to hold on to their current customer base. That means less profit and will probably impact their bottom line a Qtr from now.
Several other financial entities have taken a look at WaMu as a potential purchase. They have all walked away. That suggests the current price is still too high. I am betting it goes below $1 and soon.
Good Luck.
matt24d, "...the CEO already stated they did not need to raise more capital."
That CEO was FIRED a week ago.
Perhaps the press should interview him again.
hitdabong, Care to explain how Friday is proof of anything?
...let alone dilution?
Obviously, there were a lot of shares being traded. It would only be dilution if sold by the company. So how do you know where those shares came from?
Really, just curious if YOU know the difference between opinion and facts.
LOL
bbd
flyingdoc57, This stock is a speculation...
...it is NOT an investment.
Your experience is all with very staid, conservative, long-term INVESTMENTS. You've even admitted that this is all very strange and unfamiliar, as compared to your other investments.
Therefore, this one isn't for you! It's a very simple concept.
If you don't understand that now I can't explain it any further.
Good Luck.
bbd
flyingdoc57, well, that makes much more sense.
...and thanks for coming clean about it.
You admit that that you invest mainly in very conservative investments like mutual funds, annuties, etc. So you have little or no experience in investing in truely risky high-leverage speculative penny stocks like this one. By investing here you're were operating COMPLETELY outside of your confort zone. That sounds like you made a big mistake, an error in judgement. And now you want to "blame the stock" so you can shed your own feelings of responsibility.
So you come around and make your speech about what a lousy investment this is, what a scam it is, etc. blah, blah, blah, yada, yada, yada, when it's not really an investment at all. You never understood this from the beginning, because of your lack of experience, so now you want to ruin it for everyone else, all just so you can deal with your own guilt feeling for haveing made this stock purchase.
It is so obvious that YOU made a very stupid-STUPID move here in buying into this. So you want to incriminate and blame me and others by asking your silly questions, amply punctiated with your comments about what a scam this is. The fact is you're just making a SPEECH which you feel compelled to issue in order to deal with your own frustrations, emotions and sense of loss.
Fine, you've made your speech; now move on. I sincerely hope you can find a more constructive way of dealing with your "dirty laundry". Now that you've had this type of experience you should know exactly where your limits lie. In the future leave this type of investment to those who are emotionally and mentally equipped to handle it.
Good Luck.
bbd
So how big is your short position?
These are "virtual" dividends.
They don't exist in the real world where I live.
It says "...all shareholders of record WILL receive shares..."
As in the distant future, when hell freezes over...
Of course, just my opinion...
bbd
I just read that the ousted WaMu CEO got $5.2 million in pay last year.
That's while the stock price dropped by over 80%
So I would conclude that killing a company pays very well.
bbd
only1gail, I canceled my order and put my money elsewhere.
There are a lot of other stocks around that are looking good. So it is best NOT to get in too deep with this one.
I suggest you just spread your money around to better manage your risk.
Just my opinion...
bbd
I got a fill here today at .005 which I'm very happy about. And somewhat surprised...
My first purchase here, years ago, was at 4.2 cents so today I'm adding at something like a 90% discount. I buy and sell this whenever possible so I don't know what my current cost basis is. But I'm pretty sure I'm still underwater on this, but making headway with every trade.
After all of these years I find it amazing that the O/S is STILL around 266 million shares. It has hardly budged in several years. Folks can say what they want about how this company is operated but from the share structure point-of-view the management has treated the shareholders more than fairly. And that is a very rare situation in this end of the market.
I don't know what the exact share count is but just using 266M and a PPS of .005 would put the valuation of the company at about $1,330,000.00
That's just way too low, in my opinion. I think this is well OVERSOLD and a good buy at this level. So I would expect a mild rally to breakout on any good news. Like maybe that AFBG share dividend finally getting paid?
All just my opinion...
bbd
You make better progress going WITH current rather than trying to swim against it.
The market speaks! If you think they're FOS then that's what YOU think. Whatever floats your boat, pal...
Are you suggesting that this is really a Great Company that is just being victimized?
Because the market is saying this stock is NOT worth even $3.
Has anyone been able to buy at .0001 ?
My TDA streamer shows the inside B/A at .0002/.0003
But my Level II shows .0001/.0002
I thought this was doing OK a couple of days ago when we were at .0002/.0003 but now I'm not so sure. Amazing how a dump of 300,000,000 shares will change a situation. LOL.
bbd
only1gail, Might depend on who your broker is.
Yesterday I tried to get a fill at Scottrade at the Ask but I couldn't get any. I also used AON but the total amount was only about $100 worth.
My problem was that Scottrade clears all of their trades only thru NITE (Knight Securities) and if NITE doesn't have the best Ask or Bid then they just pigeon-hole the trade and I get no fill.
I've noticed that NITE is rarely the best bid or ask on many of the penny stocks that I own or am interested in. So my Scottrade account is pretty much useless for trading these days. However today, NITE is the best ASK but the price is also up 25%. Oh well!
Given the way the markets are moving I just might be better off. No trading might be the best strategy right now.
Good Luck.
bbd
"...they'll raise $1M...?"
There is no THEY involved; there is only HIM. This is a one-man show.
Well, he tried selling shares via a PR yesterday. Apparently that didn't get far. So to get the needed money I would guess the next step will be a little death spiral financing via a convertible debenture.
He is always trying to acquire something. Then if he's successful, about a year+ later he sells that something at a big loss. Meanwhile he always manages to support his extravagant lifestyle. That's what this is really about.
Ultimately, our predictable CEO will just dump this pig and move on, buy another shell, and start over. Wash, rinse, repeat!
bbd
only1gail, "...whats going on?"
Do you have Level II ? Look at the tape.
I see massive dumping of over 100 million shares in the first 2 hours of the trading session.
I see three MM's doing the selling: AUTO, HDSN, and VNDM
VNDM is a new one for me, Vandham Securities. So I checked out their web site: www.vandham.com
If says right on their front page: "...exceptional service to the institutional community..."
So I would ASSUME that this massive dump is institutional selling, either a hedge fund or the like, or a big shareholder, or else the company itself selling.
From what I can tell nothing has changed hands at .0001 so that is a good thing, I suppose.
Otherwise, OUCH!
bbd
This firing is acknowledgment that they have a big problem.
For many weeks now they have been steadfastly claiming that they have no problem.
I assume that the next move will be the closure of some bank branches.
Yet another Letter Of Intent to Acquire...
How many does that make in the last 5 years? 20? 30?
And 2.6 million shares sold in the FIRST HOUR!
Same Old-same Old...
clothingrep, I'm not that familiar with PERT...
...but DIAAF is still on the SHO Threshold list. So that suggests there will be additional buying here, as the shorts may be squeezed out of their positions.
As long as there are more buys than sells it has a good chance of moving up at any time.
Good Luck.
bbd
clothingrep, Hey, one way or the other, we're all "learning" something every day.
Except, of course, for the "know-it-alls" who were born with ALL knowledge... LOL!
".0004 for a double." You got it!
I have "rode this pony" several times over the last four years, and I have a very good feeling about it right now, obviously not shared by others here. No problem!
Good Luck.
bbd
clothingrep, ARCA is the old Archipelago ECN which is now owned by the NYSE.
ECNs are different than Market Makers in that the operation is all electronic and just matches buyers with sellers. So you will only see them when there is a trade to be made. Also, ECNs don't acquire share inventory for later distribution like MMs routinely do. So ARCA doesn't "make a market" in any security.
I think that the most important aspect of ARCA is that only the NYSE seated members can use it. So it is like the doorway thru which the big money can come into a stock (or leave).
Yeah, I would agree their presence is a good thing!
I noticed there are far more buys than sells on DIAAF today, by a ratio greater than 6 to 1. So someone is accumulating shares.
bbd
tranxianz, So, you love to revel in other folks' misfortune.
Well, that's definitely revealing of your character.
Another company making bio-degradable bags...
Trellis Earth, based in Oregon:
http://www.trellisearth.com/index.php?main_page=index&cPath=10
bbd
SUEZIA: Are you referring to the stock or the company?
Because they are two entirely different things.
From what I can tell there is absolutely nothing wrong with the stock. It is a registered security, it has a CUSIP number, and there are market makers supporting it. So what is the "scam" part of the stock?
Washington Mutual Short Interest: 338,580,400 shares
That's 23.10% of the float. WOW!
http://www.shortsqueeze.com/?symbol=wm&submit=Short+Quote%99
Do you think Orlando might ever change his mind on that issue?
illusionist, A good explanation of the SHO list is found off that link...
...so you can read it for yourself. If Diamant stays on the SHO list for 3 days it becomes restricted from further shorting unless certain stringent requirements are met.
What this "means" is that someone has sold shares short of Diamant and has failed to borrow those shares to cover their position, as required by law. Therefore this is an illegal situation. If they don't borrow the required shares within 3 days, shortly afterwards their position may be sold at market risk by BUYING back shares in the market to cancel out that illegal short position.
So most likely, whoever is short is going to be buying Diamant shares in the next few days. Either that or their broker will be required to do it for them as per the regulation. I just bought some at .0002 which is the cheapest price I have ever paid. I very well may have gotten that price because they were shares sold SHORT. If so then whoever sold them to me will be buying shares at a higher price to cover their sell to me. That means the shorts may lose money on this one and will most likely stop shorting now as a result of being on the SHO list.
ShortSqueeze.com shows the current "legal" short position as 5.01% so about one out of every twenty shares is a "short" share that doesn't really exist and has artificially inflated the float, and is affecting trading patterns. And that 5% figure does NOT include the Naked Short shares indicated by being on the SHO list. The REAL short share count could be much higher, so at some point this stock may become a candidate for a SHORT SQUEEZE. If a number of other traders and investors come to realize this they might be piling in here and buying up shares. Hence the price may go way up.
So one thing these short sellers may do is try to manipulate public opinion by going on the various stock forums and telling everyone what a lousy stock this is, yada, yada, yada, blah, blah, blah. The worse thing that can happen for the shorts is for the stock PPS to start moving BEFORE they have covered their short position.
Good Luck.
bbd
The Financial Sector is leading the market down today.
And Wamu is a member of the Financial Sector. "Guilty by association."
Furthermore, financial stocks are being shorted to a greater degree than others because, as a group, they are more highly leveraged than others. That means higher risk.
To make matters worse, there is the credibility problem. A number of high profile financial institutions have flat out lied about their exposure to the ongoing credit problem. That has tainted the entire group.
But I believe that Wamu is a good stock and has suffered mainly by group association. I bank there and I like the company. So I intend to be buying some Call options on WM to expire about a year out when the PPS approaches $3.
Diamant is on the Nasdaq Regulation SHO Threshold list again.
http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold
Someone has been selling short a ton and hasn't bothered to borrow the shares to cover their position. Uh Oh!
Gee, I wonder who that could be...
LOL
bbd
flyingdoc57, Just as I thought...
...you're here to save us from ourselves.
LOL
bbd
China fan, Sounds like "denial"...
...which is NOT a river in Egypt.
bbd
flyingdoc57, "...frustration of observing..."
Well, there is certainly a solution for that, and it is available to you at anytime. Just STOP observing... take a mental health break! I have recently done exactly this with several stock forums that have frustrated me, and I can verify that IT WORKS!
FOR TRUTH... Diamant IS selling a bio-degradable FOOD WRAP, but NOT bags. I think (hope) they should make bags, but whether that will ever happen, who knows? And the plastic bio-degrade-accelerator additive that they are offering MIGHT be used to make bags or foam cartons, etc., but I guess we will have to wait on some other manufacturer to step up and try it. I believe that Stefan is trying hard to make this happen. The important point is that the situation certainly CAN change from what it is now.
And given that the market hasn't really hit stride yet, no one knows just how big it is, or how the situation might unfold. It seems that the "battle lines" are now being formed between the plastic bag producers, the paper bag producers, and the cloth bag producers. The bio-degradable option isn't even being discussed in the media YET. Diamant already has long-term visibility in this emerging market as a supplier. How can anyone know what great opportunity they might encounter next, just for being already involved?
Stock situations like this are based almost exclusively on future potential. But YOU seem fixated on what Diamant hasn't accomplished. That reads like they just haven't met YOUR personal expectations or timetable (as an investment), and so now you're going to try to "punish" them for it. I suppose this might be so you can avoid feeling responsible for your own bad timing on your entry. I understand the psychology behind that. Been there-done that!
You have already stated clearly and emphaticaly that the "The company is not real". So I guess you probably won't notice if there happens to be a big breakthru here, since you're already firmly entrenched in your position, and have a vested-interest in pushing it further.
Well, the conventional wisdom in stock investing says that when the situation looks so bad that it can't possibly get any worse, THAT is the exact moment that it flips over to the other direction.
Since you dredged up one of my old posts, perhaps you noticed the one where I said that (in my opinion) the PPS was WAY over-priced and that I was looking to re-enter around the 3-4 range. As I recall that post "earned" me the basher label. Well, yesterday I was fortunate to get back in at 2 so the stock has ALREADY exceeded my short-term expectation. I think that what we have just seen may be a blowout to the downside and that the cheap shares are just about gone now. Anyway, for better or worse, I'm back in.
I have played this a number of times and never failed to make a reasonable profit. But it NEVER came easy. On several sessions I had to park my ego and swallow my pride and admit my timing mistake and begin to average down, and then wait a while (months). Eventually the profit opportunity came and I exited. It wouldn't suprise me if you were just entering this position at about the time I was last getting out.
You see, it is all about having a sense of timing and a true understanding of the risk/reward scenario. And then you must be patient. I don't begrudge you your current frustration or for being critical. I just think you should step back and expand your horizon, so you can see this more clearly. After all, it is ONLY a sub-penny stock (read Lotto Ticket).
Good Luck whatever you decide to do.
bbd
flyingdoc57, Well, Thanks for sharing with this forum...
...but, just so YOU know, I don't share your opinion about the company or the emerging marketplace for environmental products.
Would you care to offer any proof that "This is not a "real" company; i.e. one which performs R&D, performs manufacturing, engages in marketing/advertising, or has EVER operated in the black." ??
I didn't think so, because you can't prove ANY part of your assertions. And even if you could they are NOT particularly relevant.
I don't even agree with your criterion of what IS or IS NOT a "real" company. There are lots of companies that don't do R&D, or manufacture, or advertise, etc. Those things are NOT what determines what is REAL about a company. They are just activities that SOME companies engage in. Or NOT...
So, in the interest of YOUR Right of Free Speech, please feel free to continue making your little whining and complaining speeches. I am sure there are folks here who would be interested in your opinion, but I'm NOT one of them
All I ask is PLEASE don't make your speeches as a response to one of MY POSTS. I have a right to post my opinion here, too. If you don't agree with my points that is fine with me. And obviously, you didn't even ADDRESS the points in my post. You just used it as an excuse to rant and rave.
Oh, and by the way, I have been a Diamant shareholder, on and off, since 2006. So I know this company pretty well.
Good Luck.
bbd
In July 2008, the City of Seattle enacted a 20-cent tax on all grocery carryout bags
Not much mention in the national media, but it is a big issue around here. If there is any good to come from this it is bringing attention to the environmental issues underlying it.
There are some great international links on this site:
http://www.seattlebagtax.org/
http://stoptheseattlebagtax.com/
"...innovative law will decrease the annual production of bags by 184 million..."
http://seattlepi.nwsource.com/opinion/374859_baghistory14.html
All of this political activity could help Diamant somewhere along the line. A number of grocery chains have already evaluated the Diamant wrap and the bio-degrade additive, but so far have not acted on this opportunity. Perhaps this Seattle bag tax will "inspire" them to choose Diamant's products.
All just my opinion...
bbd