Trying to find the balance between being the person my dog thinks I am and the people our parents warned us about.
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Urdeep, then look quick. The train appears to be leaving the station. Glad I picked up more at .326 today.
Why stop at $4.79? I'd like to see a steady, sustained run well past $5 by Jan 1.
Ur welcome. This not for the faint of heart, but less risky than a pinkie. The fact that they have not failed (while 4 other Puerto Rican banks have) and that Doral was willing to make an unsolicited bid says (to me) there is something worth exploring here. See you on the FBP board (also a dicussion on Yahoo). GL
OT: FYI, if anyone is interested in a risky value-play in the banking sector look at FBP (First Bancorp - PuertoRico). It's trying to get out from under TARP and recently renegotiated its deal with the feds, plans to do a capital raise, and just turned down an unsolicited buyout at $0.30.
IMO, I think it hit bottom last week at .25 X .26 (full disclosure, I'm in at .28). It closed up at .326 today, trading AH about .31 x .32.
Plenty of upside if they can pull this off. I wouldn't invest my life savings in this, but some serious beer money might be a good gamble. Do your own DD. GLTA
Cramer has become nothing more than another TV personality. Take all he says with a grain (or bag) of salt. If you were manic/depressive/psychotic, but just well enough to know you were ill and needed help, would you self-therapy by watching Dr. Phil?
The more it rises this month, the less any chance of tax selling. Anyone who bought in the first quarter of the year should be in the black. Becasue fo the wash rule, anyone sellling near the end of dec (if this keeps rising) will miss out in January. JMHO, FWIW.
FBP receives and rejects merger deal from Doral 6-Dec-10 08:37 am SAN JUAN, Puerto Rico, Dec 06, 2010 (BUSINESS WIRE) -- First BanCorp (the
"Corporation") [NYSE:FBP], [NYSE:FBPPrA], [NYSE:FBPPrB], [NYSE:FBPPrC],
[NYSE:FBPPrD], [NYSE:FBPPrE], announced today its rejection of ! an unsolicited
acquisition proposal received from Doral Financial Corporation ("Doral"). On
December 2, 2010, the Corporation received a letter from Doral proposing a
stock-for-stock exchange valued at $0.30 for each share of the Corporation's
common stock. Doral's proposal contemplates that it will raise $550 million
prior to transaction closing and reach a new agreement with the U.S. Treasury to
exchange the Corporation's Series G Preferred Stock the U.S. Treasury currently
holds into shares of common stock of the combined company at a discount. The
Corporation's Board of Directors concluded that the acquisition proposal
received from Doral is not in the best interest of the Corporation and its
stockholders.
Aurelio Aleman, President and Chief Executive Officer of First BanCorp, said:
"After consideration, the Board of Directors unanimously decided not to pursue
the Doral proposal. We believe it is in the best interest of the Cor! poration and
its stockholders to continue the execution of our previously announced capital
plan, including the raising of $350 million of common equity in a public
offering and the conversion into common stock of the Series G Preferred Stock,
held by the U.S. Treasury. We maintain our focus on the implementation of our
business strategies, while providing superior customer service to our clients."
The Corporation recently announced that the U.S. Treasury, which owns $424
million of First BanCorp's Series G Preferred Stock, has reduced from $500
million to $350 million the size of the capital raise required to satisfy the
remaining substantive condition to the Corporation's ability to compel the
conversion of the Series G Preferred Stock into shares of common stock.
Dumbarse, "advance prognostications" is just my (smartarse) term for my reading and interpretation of the ruminations in the business press by the various "experts" and "commentators" out there. So there is no link. LOL. A quick scan of late afternoon B press seemed to indicate that the jobs news overall would not be that good. C was faltering in the last 15 minutes of trading after it hit a wall yesterday. That said I sold to see what would happen. Then it hit 4.38 on a dip today.
Later either you or Urdeep mentioned that the market may have already factored that in, so I kept my alerts on for C. I bought back in a little while ago at 4.445. OK, so I left 1.5 cents on the table, but that is the price of insurance. A late afternoon run up on a Friday is a good indicator. But then, the Koreas might go to war this weekend and plunge the markets... who knows?
Overall, I think the banking sector is poised for a good year in 2011 as much of the mortgage loan and real estate mess is getting cleaned up. But that, too, is not entirely over as most of the exotic loans and loose mortgage financing (such as 5 yr ARMs) which were obtained in 2006 at the top of the market, do not reset until next year. But, having first bought (and sold) C several times from about 1.26 last year to present levels, I'm OK with my results.
Urdeep, after reading advance prognostications (the business news. LOL) about the impending jobs report and not having a good feel for that, I was able to get out at $4.43 late afternoon yesterday. I saw that resistance as too much to overcome at 4.45. I'll have to see where the next support level is before jumping back in. Never hurts to take profits.
Seems to have hit the wall at $4.44 x 4.45, about where you set your revised sell target earlier today.
Yeah, I saw $4.32 x $4.33 b4 I signed off. Good that it touched $4.34. Tomorrow's pre-market will be revealing. A gap up should keep it going.
DDxprt, however trite, you are quite right that "it takes money to make money". Last year I did fairly well trading a $15K grub stake clearing slightly over $7K profits (beer money). That was hard work because I was playing mostly pennies (although I was smart enough to buy sme C around $1.25 and sell above $4). Dumbarse is right about the folks who brag about making 150% 0n a 0.0002 stock where they invested $200 - LOL.
This year, I had approx $50K to play with after selling old house (I had not lived in for 16 years and could not break even renting it out) and buying 10 acres of land for retirement (a few years away). I'm up about $24K in realized profit and $12K in paper profit. I make decent $$ and can afford to max out in 403B, but the extra $$ paid for "new" car (2008 Sonata) and ploughed $10 K into Roth IRA ($4K for 2009 and $6K for 2010). What Dumbarse has to say about swing trading blue chips in this price range is right on. I'm in for 3500 @ $4.14 in this round. I'm one of those folks who paid their mortgages on time, etc. and keep asking "Hey, I played by the rules, but where's my bailout?" Playing C is my bailout. LOL. GLTA
Yep, that is more the direction I'm heading. Don't have time to day trade, so swing trading is better. I can't watch the stocks all day (have day job lol) so I leave $$ on table at times but, some $$ is better than no $$ and definitel better than lost $$.
True. IMO it will have to at least close at the HOD and it would be nice to break it past 4.32 today. Besides the technical stuff which I am just learning, the fundamental indicators point to a much higher valuation (over $5), particularly as C sells off its "bad" assets and keeps the "good" assets
Urdeep, your trading sounds like mine. Please post what and when you buy and what and when you sell. Then I'll know to hold longer
C appears is now breaking above its 13 and 50 day EMAs. $4.50+ would be nice.
GLTA
YHGG, CASH ($$), RAS
Let's hope so. Still hanging in there with a position in NDVR
ewwwlala - re: XNYH. I picked through their numbers regarding large (10%+ revenues) customers (page 6 of both 1st and 2nd qtr filings) and they don't jive (unless I made an error I am not seeing). In the 1st qtr they had 4 companies that accounted for 10% or more of their sales and reported the unaudited amounts. In the 2nd qtr, they had 5 companies each of which accounted for over 10% of sales each.
Here's the inconsistency. When I subtract the 3 mos. (ended June 30) totals from the 6 mos. totals for those 5 companies, that should leave me the 1st qtr totals for each of those 5 companies. Allowing for some adjustment of income, I can only match companies B,C, and E in the 2nd qtr rpt to companies A, C and B (respectively) in the first qtr report. That leaves 2nd qtr companies A ($422,404 1st qtr revenue by my calculation) and D ($282,470 1st qtr revenue by my calculation) without a match in the 1st qtr report. Each of these calculated figures exceeded 10% of revenue and should have been relfected in the 1st qtr report, even if they lost these customers in the second qtr.
Something does not compute... Am I missing something?
Did you mean Q3? Second qtr rpt was filed Aug 16.
I picked through their numbers regarding large (10%+ revenues) customers (page 6 of both 1st and 2nd qtr filings) and they don't jive (unless I made an error I am not seeing). In the 1st qtr they had 4 companies that accounted for 10% or more of their sales and reported the unaudited amounts. In the 2nd qtr, they had 5 companies each of which accounted for over 10% of sales each.
Here's the inconsistency. When I subtract the 3 mos. (ended June 30) totals from the 6 mos. totals for those 5 companies, that should leave me the 1st qtr totals for each of those 5 companies. Allowing for some adjustment of income, I can only match companies B,C, and E in the 2nd qtr rpt to companies A, C and B (respectively) in the first qtr report. That leaves 2nd qtr companies A ($422,404 1st qtr by my calculation) and D ($282,470) without a match in the 1st qtr report. Each of these calculated figures exceeded 10% of revenue and should have been relfected in the 1st qtr report, even if they lost these customers in the second qtr.
Something does not compute...
I would tend to agree with that assessment. Also, the court case drags on. I checked the docket history and the last two items are not public. They are transcripts of hearings held before the judge on Oct 4 and Oct 5, the latter not even being posted until Nov 5.
Hope they can keep the share price above $3 so they can uplist
YHGG featured in KonLin investment newsletter
http://finance.yahoo.com/news/Yasheng-Group-Featured-in-The-iw-1995921722.html?x=0&.v=1
hanks LJ. Technical analysis is something I need to learn. Any good websites to recommend to get started?
Well, this board is awful quite considering that KAZ is on the third day of a good run.
Things looking good for KAZ. My kitty, Toby (Wan Kenobi) is looking forward to better grade of cat food - "hmmmm, filet mignon vs. 9 Lives? Hmmm..."
Just found your board - you chart in the iBox is 2 fkn funny! !Y que buena chica, tambien en su foto!
More upward movement for Oct 28. eom
YHGG has been climbing past few days and filing more SC doc as a prelude to uplisting. Trading at 2.45 with a book value over $10 and EPS of 0.51, this is seriously undervalued
YHGG has been climbing past few days and filing more SC doc as a prelude to uplisting. Trading at 2.45 with a book value over $10 and EPS of 0.51, this is seriously undervalued.
Big volume today, but no news. eom
I'll drink to that!
Third quarter tends to be high because I had read somewhere that we are now entering the peak prok consumption period in China which tends to be the fall.
Got 3 newsletters from yasheng - one for each acct - regular, rollover IRA and Roth IRA. I guess I did not sign up for it (things get hazy every evening when I start hitting double digits with the Margaritas), but was just sent to me as shareholder of record. So, point is, they are mailing to shareholders accts.
No new news in the letter. Just that YHGG is finally starting to do the things they need to do to create awareness. I hope it went to people other than just the shareholders.
LJ - the court info gets posted as it unfolds (unless sealed or otherwise confidential) with at least a 24 hour delay. Federal cases are easy to track and you can get a pay-as-you-go subscription to do searches via www.pacer.gov (Public Access to Court Electronic Records). Searching state and county courts is a hodge-podge of free and subscription/proprietary databases (FindLaw, WestLaw, LexisNexis, etc.), especially at the county level as some counties still do not have cases online. If you are located near a large public or university library, you might be able to access the databases by visiting the library and using their computers. Same deal for accessing a lot of business databases.
Got my snail mail letter also on Saturday. eom
Yes, I noticed that a couple were in accounting and there was an administrative/clerical position that also required moderate proficiency in English. One of the position was also for a company lawyer with a knowledge of contracts.
The company is continuing to advertize positions. Not sure if these are repostings, but are dated Oct 17-23
http://special.zhaopin.com/dl/2009/cm050824/#2
you can cut and paste the Chinese into http://translate.google.com to get English translation.
CIVIL DOCKET FOR CASE #: 1:05-cv-03749-KMW-DCF
Sorry this is all out of order, but these last couple of posts of mine are the most recent relevant items from the suit.
"10/4/2010 Minute Entry for proceedings held before Judge Kimba M. Wood: Conference held on 10/4/2010. Attorneys Thomas Dewey, Jonathan Auerbach and Jerome Marcus are present for plaintiffs. Attorneys Robert O'Hare, James Ji and Brent Manning are present for the defendants. Court reporter Sam Mauro is present. See transcript. The parties shall have one day to discuss the Court's most recent suggestion. Conference is adjourned to Tuesday, October 5 at 3pm by telephone. (mro) (Entered: 10/05/2010)"
After that are 4 filings by plaintiffs on 10/6/2010 - 1 Memorandum of Law, 1 - Affidavit, 2- Declarations asking for reconsideration of the Sept 23, 2010 "order dismissing claim for damages based on value of BMB Munai". Last paragraph of that Sept 23 order follows:
"IV. Conclusion
There is no reasonable basis for calculating damages based on lost profits, including any apportionment of the value of 13MB Munai, Inc.2 Accordingly, the correct measurc of damages on the unfair competition claim is properly limited to the reasonable value of Plaintiffs' labors and expenditures in creating the alkgedly misappropriated work product. SO ORDERED."
Earlier (Sept 27) court orders
09/27/2010 227 ORDER the Court has reviewed the parties' responses to the Court's 9/17 Order to Show Cause why certain claims should not be dismissed. The Court hereby makes the following four findings:
Plaintiffs' claims against the Creditfinance Defendants are dismissed;
Plaintiffs' claim for Tortious Interference with Contract is dismissed;
Plaintiffs' claim for Unjust Enrichment is dismissed;
Sealing of attachments to Plaintiffs' Response to the Order to Show Cause is not warranted.
(Signed by Judge Kimba M. Wood on 9/27/10) (cd) (Entered: 09/28/2010)