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Greenlight may be our green light...something is very strange here. Maybe they thought this deal would be wrapped up by the SH meeting but they couldn't get it done in time? Very strange indeed, and even the numbers do add up. This could be it! Good find for sure.
It is clear that there is something going on, though it is of course a very tightly held secret to avoid IT finger pointing once announced. They are likely waiting for a final letter from the IRS as to the exact total of NOLs, which is a very complex issue. Once they get "the letter", all hell will break loose. The thing that's nice about this delay is that the diehard long time holders of the stock will benefit, as it should be, and the Johnny come lately investors are likely gone now due to their lack of knowledge and impatience.
GLTAL
Interesting day ya had there Focker. Now, if we sell follow through tomorrow with increasing volume something's up.
KKR special meeting...announcement. You say it doesn't have anything to do with WMI? How do you know that? You don't.
Special meeting called by KKR. Hmmmmmm.....saw this on yahoo board. Very interesting
SAN FRANCISCO, March 24, 2014 /PRNewswire/ -- KKR Financial Holdings LLC (KFN) (the "Company") announced today that it will be holding a special meeting of common shareholders on Wednesday, April 30, 2014 in connection with the Company's proposed merger with KKR & Co. L.P. and its affiliates. The meeting will be held at 9:00 a.m. PDT at the Bently Reserve, Gateway Room, located at 301 Battery Street in San Francisco, California.
My guess is the 20th is no news. No way will they make a major announcement the day after the NOLs kick in. Too obvious to the IRS. They will wait at least a few weeks before pulling the trigger IMO.
The banks are the ones that sustained the losses and thus must get compensated if the suit is successful.
"It seeks unspecified damages in order to recover for losses sustained by the closed banks that the regulator seized."
This suit is very big for escrow holders. And you just know FDIC will win, so there will be a huge settlement. This will go to escrows. The FDIC is doing this to save face, making banks the scapegoats to get Bair and themselves off the hook. Escrow holders will do VERY well.
Why the MMs are holding this down:
I've been wondering why this is being so carefully manipulated, and I think it's becoming clear why. The MMs are being instructed to keep this below $5 so the big funds can't buy in, yet. Reason is they (the board and hedgies that control them, as well as for their own benefits as well as their friends') want this to stay below $5 so the big funds can't buy in at a low price (their fund guidelines prohibit buying stocks under $5). Then after the big deal is announced post 3/19 and the large gap up occurs well above 5, they let it go as the mutual funds then pile in to buy up shares, driving it up even further, thus essentially getting two large gap ups instead of one. Very brilliant strategy when you think about it.
Based on this theory, I see a major breakout whenever the first deal is announced with KKR and Blackstone driving. Volume will be huge and the big funds will buy en mass, making the share price go through the roof. When this will happen, we don't know. But considering March and Apr are two of the best market months and they want good market momentum when the big deal is announced, I'd say the boys will announce it soon after the magic 3/19 date.
IMHO. The longs are finally about to be rewarded after 6 years of agony.
Board options strike price at $2.53. It appears ( I can't say with certainty)that the options the board directors got in Feb at $2.53 are just that, options. They get the gain when they decide to cash them in.
Anyone know differently please chime in.
Gene Davis gets twice as many shares. Interesting. 2x MW's grant. Very interesting. Gene is awesome and we are lucky to have him on our side but I wonder why he got twice the options. Hmmmmmm....future CEO? I'd vote for him!
Feb 10, 2014 WILLINGHAM MICHAELDirector 50,000 Direct Acquisition (Non Open Market) at $2.53 per share. 126,500
Feb 10, 2014 DAVIS EUGENE IDirector 100,000 Direct Acquisition (Non Open Market) at $2.53 per share. 253,000
Rosen destroyed the lives of many......IMO. His nefarious deeds coupled with our corrupt DOJ is what put us all in this predicament. What goes around comes around.
$5.00 this month is not far fetched. I thought we'd need an announcement to get us there but now we may not even need one. I say the big PR will come out in Apr so it doesn't look like they were dodging the 2 yr rule.
Then again though if there is a deal in the works they may need to release info asap before a major leak hits the street.
Perfect cup n handle formation. Looks like a big gap up soon.
Congrats to all longs. Patience is paying off....been a long time coming! $5 not far off now. Hang in there.
I wonder how many escrow shares MW has...bet he has a ton. While he has a lot of shares of WMI, his big money would come from the escrows, so don't count those out...
Olti, talk to me in 2 months. I think you'll be much happier about our situation by then. For now relax and let these 2 months play out. Deal?
Also, remember that WMIH has gone from .70 to 2.70 in just a couple months. That's a hell of a move. More to come. If you are investing in stocks that make that kind of gain please let me know of them so I can buy a couple more houses. :)
I think we all need to be cautiously optimistic now and let Davis, Mike W and the boys do what they need to do. KKR is not stupid, nor is Blackstone. Relax and enjoy the ride.
"Many have sold": Really???? I find that very hard to believe. Maybe retailers desperate for a few bucks have sold a couple shares here and there, but when you say "many" I think that's a gross overestimate. I bet less than 5% of retail shares have been sold since Dec 13. People are just holding now, thus the lack of volume. I think you'd have to be really hard up for cash, or insane, to sell this stock now knowing what we know.
Also, the talk of a class action suit is ABSOLUTELY ridiculous! Have you ever been involved in one? I have and the only people who see any money are the lawyers. Class action suits are the biggest legal scam going. Please knock off this ridiculous class action rhetoric.
Escrow shares could be gold some day....and then again they may be zero. Time will tell, but they are intriguing and a way for $ to flow back to its rightful owners, the long term WAMU shareholders who have been raped.
No one else can get escrows. They are not for sale or attainable to anyone...only those who have them will ever have them!
If there is any justice to come out of this debacle, $ will come to the escrows. And if this happens, maybe Walrath wasn't so stupid, or evil, after all. Maybe she knew someday that the escrows would get paid...plus get shares in WMI...double dipping. I doubt escrows will get 100-150% of face value as some say, but I can see the day that they get at least 10%....that's $100 per P...not bad in addition to what we end up getting for our WMIs.
Maybe crosseyed Mary knew what she was doing all along.......
Wrongo Bob. Holder could easily overturn the releases if he deems JPM caused this debacle nefariously...
FDIC blames JPM for WAMU losses! This is huge folks. They are now blaming JPM! They will have to give restitution to WAMU shareholders now. maybe this is what we've all been waiting for! The FDIC throwing JPM under the bus and Bair is gone so she doesn't have to get involved. Huge!
People thought $30-50 was ludicrous....but, now this may not be so far fetched. Certainly 10-20 is a no brainer within a year or so. I hate pumpers, but this is pretty obviously a possibility now. Those NOLs are gold. Capitalization of this company is going to happen and very soon. When it does the share price will soar.
Breaking news? Looks like something big is afoot. Maybe finally, a deal! Bout time!
Something will be announced soon IMO. All the signs pointed towards an October surprise. Smart buyers will jump in now before the blitz.
Volume precedes price. Here we go....obvious now something is in the works.
Anyone who trades this now is dumb, plain and simple. This is a musical chairs stock. At any moment the music can stop and if you are out when it does you'll want to hang yourself. Flipping for a pittance is foolish now. Relax and wait it out. This is NOT a stock to be daytrading. You will see soon enough.
Was Sierra right??? LOL. It would be funny though if this thing took off now. She'd be pounding her chest.
We are at THE buy point now. For those waiting to jump in this could be the place. If I were a betting man I'd say things are going to get very interesting, very soon. Not pumping...just a gut. But something appears to be building here.
They aren't insiders buying now....too risky...it's trusted friends of insiders. happens all the time. Brothers in law etc.
News imminent. Volume says it all. Leak? Once this breaks 1.02 it's off to the races.
Sierra is obviously a scam site.
Sierra seems pretty confident. I think it's a sham, but with each passing day, and the eerily quiet, something just might be happening. If this is true I'm subscribing to her newsletter. :)
Marin bank rumor...Hmmm, I predicted they would initially go after a regional bank, and now the Marin bank rumor comes out. It makes sense, though I don't take too much stock in penny stock rumor mills...however, it is intriguing and could be the real deal. There could have been a leak about this in the last month which would have explained the run-up on big volume that occurred. It is also odd that the stock did not sell off on the lack of news at the SM. That was telling. Let's see if this starts to take off next week and volume comes back in...
Exactamundo! Why would Blackie waste their time if they didn't think there was a pot o gold at the end? Gimme a break. These naysayers are just plain dumb.
All the buying in the last month obviously means something is cooking. Just can't say yet is all. be patient!
They can't say Anything until a deal is finalized, obviously. Can't even give hints of something in the works until it is made public. Relax. It's a waiting game.
Taking out the stops, very typical trading pattern. Take out the stops and get even more shares on the cheap before the news next week. Setting stops on a stock like this is stupid. Set mental stops if you have to, otherwise the MMs just take them out and sell them cheap to their buddies. WS is crooked folks, and never forget that.
CSNY commented on Guggenheim Partners buying today. They are worth $160B or more, so they wouldn't be buying in the .90s here if they didn't feel really good about their chances...or maybe they've heard something....things that make you go hmmmmm, eh Bob?
I've been buying more on the way up and will grab more tomorrow before this runs away.
Best of luck to all longs...maybe our time has come, finally!
I feel bad for the shorts and bashers today.
NOT!
Once this breaks $1.00 watch out for a major short panic coupled with funds starting to buy in.