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That is correct. Accumulation equates to major trouble for those heavily shorting EIGH.
Dangerous week ahead! Squeeeeze and divy! What a combo!
Chessman
Oh, pleeeezzz... there is no doubt that EIGH could very well be going to $10 .... EIGH will close above .42 and squeeeeezzzzzz to multiple dollars -
And for any and all the correct link to the DIVI info and only one iszzzzz:
http://www.marketwatch.com/story/8000inc-eighpk-cash-dividend-update-2010-09-28
And the tradable float is actually 77,391,750 and has been "locked down" zzzzz...
and the NSSzzzz stuff is real and will result in a MOASS...oh yeszzzzzz
So, hang in there until October 15 ....the Divi might be increased to more than .10 ...weeeeeeee
the CEO emails are informative and show transparency, so nicezzzz.....grEIGHt!
Cheszzzman
A 911 trade usually means "pending news."
Hmmm ... what could that mean?
Hang on to your shares!
GO EIGH!
Chessman
MM panic is starting. The noise is getting louder here at EIGH. Mud and lots more is being thrown at the wall to see if it sticks. It's not.
As I have said before, if the divy is .10 or more, this stock skyrockets. Watch and wait.
GO EIGH!
Chessman
For the other longs in EIGH ...
Okay, let's apply some logic here and get some feedback.
As you all can see, the pps is being brought lower and lower by the MMs as these days go by toward 10/4. It would seem more logical for the MMs to offer higher bids/asks in order to entice people to forsake the dividend in exchange for more money now. However, why would I want to give up my dividend for .33 per share before Monday? It just doesn't make sense! You would think the MMs would raise the pps to cover before the announced dividend, wouldn't you? No doubt, some EIGH holders would sell now for 50, 60 or 70 cents pps, but that doesn't seem to be considered by the MMs, as of today.
As Blue Bucks has pointed out, the big day will be 10/4. If the dividend is truly .10, and especially if it is greater than .10, then the MMs are in deep shat. Maybe it is easier to conclude that the cover would have to begin after the dividend announcement. The MMs will likely have to get on the bandwagon and reverse direction to cover, because, if the dividend is .10 or more, nobody is going to sell for cheap and the MMs surely don't want to pay it, especially if another dividend is right around the corner. The critical situation involves time. Can the MMs drive the price low enough to shake us out before the 16th so that they don't have to pay the divy? At the same time, the audit process begins and shares have to be accounted for. That's the law, and that will be the "Come to Jesus moment" for our lovely friends, the MMs.
So, hang in there -- divy payday is only two weeks from Monday! Something just has to break, and it will probably be the pps heading up.
8000inc. and Monk will do their shareholders a great service by making sure that divy is .10 or higher. That's how I see it. Yes, many longs tout the fundamentals of the company and are in for the long haul. No problem. I do hope for the success of 8000inc., but banking on a significantly profitable share price is the bottom line. It's going to happen, but the perplexing questions are how and when. I just don't get the logic of the MMs at this time, though. I think they are banking on a very low divy or maybe they just consider EIGH another penny stock they will run into the ground. What say the rest of you?
GO EIGH!
Chessman
Candlesticks said ...
Looking at the candlesticks last night:
The hourly chart indicated a reversal of the downtrend -- and it was correct.
The daily chart indicated a likely small reversal -- which happened early.
I likey the hourly indicators!
Candlestick theory is worth studying.
The way the HOURLY candlesticks are forming now indicates an uptrend.
Go EIGH!
Chessman
Candlesticks say ...
If one applies candlestick study to the EIGH chart -- HOURLY -- then there is an INVERTED HAMMER that points to a major reversal in the downtrend. Thus, tomorrow is setting up to be green.
If one applies candlestick study to the EIGH chart -- DAILY -- then there is a DARK CLOUD COVER that could lead to a reversal, but it DOES NOT indicate a strong reversal.
So, we shall see which candlestick study will shine through here -- daily or hourly. Of course, Monk's sucky picks don't always conform to the candlestick studies, so maybe this observation is all for naught.
GO EIGH!
Chessman
Oh, man -- way too FF!
Chessman
Okay, wamuvoodoo. Thanks! Going to work this weekend on a draft to send to Michael Moore requesting him to consider doing a documentary movie about the biggest bank heist in history. Bair and Dimon need to go down!
Chessman
Shorts are working it overseas ...
Looks like the pps is momentarily dropping in Germany. I think there is an anticipation of a pps spike on Tuesday the 7th, so the hedgies and flippers are getting ready. Hold on tight -- the roller coaster ride is just starting!
Chessman
Ladies and Gentlemen, I have a theory ...
I have a theory, and I think it might warrant some discussion. I could be totally wrong about it, though.
JPM and the FDIC might not produce any documents for the court because maybe, just maybe, they have some sort of awareness or knowledge that the Solomon report, or even the info the Examiner will possibly present, might just fall in a range that will be affordable for JPM/FDIC to pay. It could be that the mention of the 30 billion in all the in-court/out-of-court bantering is actually what will be presented in court in the near future.
As much as the thieves would like the A>L to be almost zero, the figure -- whether it be 10 billion or 30 billion, could be one that JPM/FDIC are prepared to address and pay. Sort of like, well, we (JPM/FDIC) were not sure in the beginning as to what all the assets were, but, it's okay, we will settle on that amount. Likely, the A>L is much higher, but these corrupt bastards are rolling the dice to see what the Solomon valuation is. Sure, maybe there was never a formal asset list, but maybe they know that and simply don't care; instead, they figure (or know) that it might be difficult to tag them for more than 30 billion.
Heck, they probably have made up 30 billion in the past months, and more as it drags along, and they are just waiting for the judge to drop the hammer. That is why I think they are stalling on the docs. It's just a theory.
This coming weeks will be exciting!
Go WAMU!
Peace,
Chessman
Thanks Jimmy and all the other posters who replied to my post! This board has been the most interesting and informational one I have ever come across. For some, this has been one long haul, and it feels like the finish is near.
Have an idea. Maybe a bunch of us should take Susman and associates out to dinner after this finishes up (if we receive money). What a get-together that would be, eh?
Okay, I'm back to observing, waiting, analyzing. Thanks again to all.
Chessman
To the WAMU longs and observers,
Have some questions.
First, I hold both a substantial amount of U shares and some P shares. I've been in for several months, and I am very much intrigued by the legal proceedings involved with this situation, having been embroiled in court battles with a corporation and some other aholes who have tried to rip me off in the past. Yes, sometimes the courts do work, but it can be a lot of hard work, and often those around you wonder if it is all worth the effort. Justice must be fought for and upheld, though, or the system ultimately fails.
So, to my main focus ...
My ex-wife knows that I am invested in WAMUQ and WAMPQ, and last week she was quite interested in getting in on the action. She was ready to buy in on Monday, but finally sprung some stuff on me that was a result of a conversation she had this past weekend. Some friend of a friend is an investment manager and manages funds for a number of clients, claiming 200 to 300 percent return, mostly from investing in blue chips like Intel, Costco, Amazon, etc.
Well, she got around to asking him about WAMUQ, considering she was about to invest some money in WAMUQ on Monday. The guy told her several things, which I am highly doubtful about, but I wanted some feedback about his comments from members of this group.
He told her he did some DD on WAMUQ and felt that it was a 100 to 1 shot that the commons would get anything, and he thought that it would be luck if the preferreds were tossed some crumbs.
He told her:
1. The entire financial system is corrupt (which is probably true).
2. The "WAMU Execs" would pay themselves millions in compensation before this case is over, essentially bleeding money that could go to the equity shareholders.
3. That the bondholders would suck up anything that might be awarded, leaving equity barren.
4. That JPM would spend billions defending themselves because of their level of corruption and greed.
My ex knows that I have strong opinions about this BK case/situation, and that I have been lurking/observing/following the boards at IHub and Yahoo for quite a while now and feel that the judge would not have let this case get this far if there was nothing in sight for equity. Key dates have passed and progress has been made. Team Susman would not have been assembled and would not be in hot pursuit of justice and payola if there wasn't a good chance for recovery (A>L). What JPM says or does is not the ultimate decision -- it's up to the courts.
So, now, she is not investing in WAMUQ or the preferreds. She tells me she is worried that I will lose a big chunk of money (yes, she still worries about me a bit and is concerned about my welfare). I told her that key dates are coming up and those milestones should paint a clearer picture as to where this is all heading.
What say the longs here? Is this adviser/manager full of crap, or does he have some valid points? Can any more equity be bled without clawback/rollback? Aren't the bondholders limited to only a certain amount of compensation?
I am holding until September 7, for sure. I don't know or can I be sure that the examiner investigations will scare up a reasonable settlement offer before the September 7 report, but I am willing to wait it out. Any and all feedback is truly appreciated at this point.
Of course, if there is a settlement, it will be the biggest "I told you so" among my friends and ex. And, of course, if nothing gets paid to equity, then I will be looked on as the biggest fool.
Lastly, thanks to all the supporters who have gone to the hearings and made observations and reported back to the rest of us. I would really like to attend, but I am on the west coast and it is not easy for me to travel to DE. However, one day soon I just might attend, and I am sure it will be quite an experience. And thanks to all who have posted the unbelievable amount of research and well-founded opinions here. This is -- as one poster put it -- truly "Law 101." It is quite an intriguing, exciting and unbelievable legal case, and I hope it ends up being one for the history/record books.
Peace and best wishes to all (even the bashers).
Chessman
Loan Loss-Sharing Agreement – The Ignored Tale
FROM A POSTER AT ANOTHER SITE (a great insight):
"While I was reading something about U.S. Bancorp (USB) several days ago, it came across my mind that why there wasn’t a loan loss-sharing agreement between jpmc and fdic regarding wamu transaction? You see, USB (I own a few shares), as one of the stronger banks during the financial meltdown, acquired several smaller “failed” banks from fdic. It signed with the agency some loan loss-sharing agreements, by which, if acquired loans went bad, FDIC will shoulder a portion of the loss. The agreements helped the acquirer (in this case USB) to reduce/limit its risk and exposure to the recognized as well as unforeseen losses from bad assets of failed bank(s). Such agreement, I think, is necessary to provide the healthy banks with incentives to absorb failed ones. It also justifies a higher selling price tag in soliciting bids. In FDIC’s own word, it helps “maximize the value” of seized assets. The agreement makes good business sense for both FDIC and involved financial institutions.
In wamu’s case, however, there was no loan loss-sharing agreement ever existed. This means JPMC will have to swallow every single loss from acquired wamu loan portfolio. Some of the bad loans were recognizable at the time of acquisition, others unforeseen. If wamu bad loans imploded in following months or years, as most at that time assumed it could, JPMC might be in deep trouble already. So, why on earth it defied the sound business practice by doing away with the loan loss-sharing agreement, and was willing to gamble with Wamu’s huge “toxic” loans without protection? This arrangement also let FDIC completely off the hook from wamu’s supposedly “bad” assets. Hence, plus other factors, fdic lost not even a penny. It was a huge “win” for fdic. JPMC, meantime, look like a white knight saving the nation’s falling financial system all for the public good. Such act, of course, was likely to be one of the major factors (or lies) to “justify” the bargain basement price of $1.9 billion for Wamu’s huge assets. The idea of FDIC has the duty to “maximize the value of seized assets” was thrown out of the window in the midst of panic, greed, deceptions, and self-righteousness.
After observing the case and connecting the dots, I’ve come to the conclusion: JPMC knew better than anyone else (except wamu management) about the condition of Wamu loan portfolio. Killinger was right when he testified at PSI hearing that Wamu started working off its bad loans since 2007. Its loan portfolio was on the mending by the time of seizure. JPMC knew about this. The loans were not as bad as people feared. JPMC had gained valuable, detailed, inside knowledge about Wamu books via Project West, aborted acquisition in 03/2008, and possibly other schemes. It used such knowledge to take over the whole wamu loan portfolio ($240B in total) without the need for a loss-sharing agreement protection, which in turn gave the company a strong uphand in price negotiation. At the time of acquisition, JPMC announced an immediate “write-off” of $30B wamu “bad” loans, and showed the government and the public what “scarifies” it made. However, soon after the acquisition JPMC recorded “negative goodwill” in its book, indicating the value acquired exceeded the price paid. A few months later it further admitted that it could potentially “write up” $29B instead of “write down” $30+B acquired loans as previously estimated. During the most recent four quarters (07/09 – 06/10), JPMC set aside $8.3B loss reserves for wamu loans. As of today, there was no charge off yet, according to its own financial reports. The same documents also stated “No allowance for loan losses was recorded at June 30, 2009” either. There was no doubt JPMC duped FDIC into panic with misleading information which led to the seizure. It further duped the regulators into believing the company made a superior offer for Wamu’s vast but “toxic” assets. This was the “white collar” crime in its highest, most sophisticated form."
No wonder I felt it. Not that far away!
Felt it here in Arizona! I was wondering what happened!
A simple test...
Define the word SPLAT
1) A sound sometimes heard after a pigeon flies by.
2) A sound heard whilst stepping in a pile of fresh doggie doo.
3) A sound most often heard after a MM tries to short CDIV.
4) All of the above
Hello?
That, too!
Replying to Isabear's post:
I think float is already locked up in the G stock. We don't have to worry about it for awhile. What are the MM's going to do, sneak into our accounts & steal them? Look @ the RegSho list and how long some of those stocks have been on it. I have done DD on this & I know this to be a fact. Ask anyone on this board, who knows about the RegSho & they will tell you the same thing. People putting most of their money into G & E are going to let the MMs off the hook for awhile. We are not going to see CDIV magically Squeeze without Accumulating shares. I know there is a strong core here but, in all the time people have been investing in CDIV have there been 2 other squeezes going on @ the same time?? I'm not saying we should forsake G & E. I'm just saying we should be attacking the MMs on the CDIV front. Then roling that money into G & E for the final kill. I think what is causing Andrew's flustration is that we seemed to be so close. Then the money started flowing into G & E. Sorry about the long post & as for the MMs reading this board, who ruined so many small business & small investors, your day is coming!!!
I have to agree. My frustration arose when I saw that GRNO was announced as a lockdown play and I was fully invested in CDIV. Was it necessary to make this announcement and potentially steer away future funds for CDIV? Some people made a bundle getting into GRNO at .08 on 2/26 riding it ride up to .60 on 3/9. Yes, it was a really quick rise compared to CDIV, and, yes, I was frustrated as hell because I wanted to stay loyal to CDIV and not flip to GRNO and back to CDIV later, but I held. Would I have done it differently if I had the chance for a do-over. Probably. However, I trust Monk and the others who have been in CDIV for the long haul. Yes, some of them are millionaires in their accounts now because of new investors helping to drive the price up, but, they do not enjoy that money until they sell, which many have not. I believe -- and have faith -- that they are willing to wait and help us all make money. I have faith in the major holders that they will take the lead in causing the MMs to chase the carrot as the MMs eventually grasp for shares to cover. The idea in the squeeze is to sell in small lots gradually and drive the price up. If the major players unload quickly, this entire plan fails and many dreams will not come to fruition. So, it will be teamwork that makes us all money, and a whole hell of a lot of patience.
I've been burned before in certain stocks because I was not patient. CDIV is going to be a test of everyone's patience and nerves. Only the strong will survive.
Bush was the worst ever. Period!
No problem. It was good to finally meet Monk and some Denizens in person. Being able to do this helps to build confidence regarding running with the group. In reality, people who join the Den don't know anyone from Adam. It's basically faith and trust and some DD. I could tell that you, Monk and others are genuine. Even though I was only there for a few hours, it was worth it.
Have a good night!
(Have to walk the dog before the sun sets here in the desert.)
Same here. I really appreciate your help -- a gracious host! Sorry I didn't get to say goodbye before I left. I think those drinks might have relaxed you too much, eh? Did you slide out of your chair onto the ground? You just disappeared into thin air.
I'll attend a Monikar next time Monk comes out west. Have only heard good things about these workshops.
Actually, I've talked to Monk several times already, and I even drove two hours to Phoenix to join the Denizens for Saturday dinner and meet Monk and some of the others.
I've only posted a few times. Been in CDIV for about a month, and getting friends and family to buy in now.
I, too, do website design, and found multi-monitors the best way to roll, but am trying to convert to day-trading as a full-time occupation.
Actually, Matrox cards are actually some of the best multi-monitor cards made. I built my own computer system (quad-core) and researched multi-monitor cards and decided on the current Matrox card I have now. I actually can add one more monitor.
HOWEVER, a very successful hedge fund manager friend of mine told me to not use more than two monitors during trading (BTW, he's a big advocate of using StockCharts.com) I think he believes, from experience, that attention is diverted when there is too much for the eyes/brain to take in. It is common, though, for four monitor systems to be stacked -- two rows, but if I had to do it over again I would just buy a top performance dual monitor card. More is not always better, except when you are buying up shares of CDIV!
Oh, and I have the charts of Monk's sucky picks in the pictures. I also use ThinkOrSwim -- great platform!
APF530 is INDOMETHACIN -- it is approved!
http://www.accessdata.fda.gov/scripts/cder/drugsatfda/index.cfm?fuseaction=Search.Label_ApprovalHistory#apphist
Googled:
About APF530
A.P. Pharma's lead product candidate, APF530, is being developed for the prevention of both acute and delayed onset chemotherapy-induced nausea and vomiting (CINV). APF530 contains the 5-HT3 antagonist, granisetron, formulated in our proprietary Biochronomer™ drug delivery system, which allows therapeutic drug levels to be maintained for five days with a single subcutaneous injection. Injections and oral tablets containing granisetron are approved for the prevention of acute onset CINV, but not for delayed onset CINV. Granisetron was selected because it is widely prescribed by physicians based on a well-established record of safety and efficacy. In September 2008, A.P. Pharma reported positive top-line results from its pivotal Phase 3 study. In this multi-center, randomized trial that enrolled 1,395 cancer patients, APF530 was shown to be equally as effective as (statistically non-inferior to) palonosetron (Aloxi®) in the prevention of both acute onset and delayed onset CINV. An NDA for APF530 was submitted in May 2009. Palonosetron is the only injectable 5-HT3 antagonist FDA-approved for the prevention of delayed onset CINV. APF530 was also generally well-tolerated in this study.
TFF! Hilarious!
Agree. Good NITE!
Nite! Oops, I mean goodnight!
Going to send you quick PM now. You'll be leaving for Phoenix soon.
Hi! Getting ready to go to bed, and then need to buy more CDIV in the morn. Hey, Monk is alive here now!
There BlackThought?
Looking good now. HOD might get broken.
Thanks, TA. Holding tight. Will help out more as soon as I can.
No problem. It's moving now. Just have to be patient. Good to talk things out once in a while.
Thanks. Will let you all know when I can help some more.