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They could pop it to .25 and HUGE LOTS would still go through.
Here comes .21 + ...
40,000 share trade @ .20 just pushed through.
Just looks like ARCA has people that want to take profits, and NITE is going to buy 'em up at 5.75 and sell 'em back to somebody else for $6.50+ in a little bit.
I think we'll see another push before EOD.
Didn't get any sort of an answer, electronic or otherwise.
I sold this morning.
I bout 2 Fridays ago waiting for good news, but I just found this.
I can't tell if it is just posturing by CHTR in order to force creditors to renegotiate, or if they are "prepping' in order to file for real.
http://www.guardian.co.uk/business/feedarticle/8335970
I see this think going down soon. Could be wrong, but I'll get back in if it drops.
The ARCA guy is on the ask @ 6.00 with 1900 shares.
NITE is on the bid at 5.80 and it looks like all of them are making profit-takers sell at 6.00 .
I think the holders of the Ps and the Ks are going to see a lot more than that.
I think that anybody who feels Fdic (the k is optional but implied) is not going to be forking over HUGE CHING is crazy.
They will start running it up in large increments soon.
I bought a little more earlier, and I tried pushing the price up by over-bidding, and the MM just pushed it through at 6.50 , which was lower than my bid.
Looks like the MMs are making profit takers sell at .19 eom
Time to break .20 eom
'cause people want to BUY eom
I think this is hitting $8 today. eom
imo a lot of money is going to show up on the books before the BK is over, and it will come from the valuation of assets and the FDIC.
I think once the FDIC pays up, all of the preferreds are going to be set at an extremely high value.
Citi has a strong relationship with American Funds as well.
When I say Citi, I mean Capital Research.
With the dividend payments that go along with the Hs, trading at near $30 per share would return a locked in 10% yield until 2041. I don't see it ever getting higher than that.
The Ps and the Ks are going to grow a lot more % wise.
These court documents reek of corporate fraud and illegal activity on the part of the FDIC and JPM, and obvious wreckless negligence on the part of The OTS that was caused by nervous paranoia for some, and GREED for others.
If people think that Washington Mutual Inc made a claim in the amount of the pre-seizure value, I think those people are wrong.
I firmly believe that the damages included in ultimate FDIC settlement in this case are going to be HUGE .
This is the creditors committee response to JPM.
http://www.kccllc.net/documents/0812229/0812229090130000000000004.pdf
This is Mary's response.
http://www.kccllc.net/documents/0812229/0812229090130000000000005.pdf
These are just documents from the bankruptcy case.
I think the FDIC is going to have to pay a lot more than most people think.
Does anybody have a current status on accurate short-interest #s ?
As I said, I only saw 1 BIG name missing from the holdings report, and there is no doubt in my mind that they are going to be getting back in.
This particular company/fund hadn't sold for a tax loss as of 1 month ago, and it seems to me that they wanted to save their "loss" for this year.
I will let others determine which company/fund I am talking about.
I don't see a decrease in the # of shares held by the
BIG HOLDERS , with the exception of 1 institution, but I also know how they roll, and they will definitely be back in.
http://data.cnbc.com/quotes/WAMUQ/tab/8
I have spreadsheets that show the # of shares held by the BIG DOGS .
I'd be very interested to hear who you think dumped shares!
Thanks for the #s, and I have definitely been watching the MMs move this thing sideways.
All of them except for WAHUQ.
Thanks for the post!
Where many people are mistaken is that there is going to be a "payoff".
WMI will not be paying off anybody.
The market will work out the pps out on its own.
Once the REAL NEWS starts getting reported and the true assets are revealed a few months down the road, the PPS will shoot up BIGTIME, and it is not going to be the result of a "payoff".
Q:Why would WMI payoff shareholders if they don't have to?
A:They are not going to.
That is a good approach, as most of the time one should run the other way from a stock with a Q on the end, but this is not your average situation.
I do believe that you are reading your charts correctly and it is actually overdue for pop.
I could be wrong too as the chart has looked like it was going to explode in the past, but I think the time is finally almost here.
I hope you are right my friend!
If you fear it will be worth nothing then you clearly haven't done your HOMEWORK my friend.
The guy asked what I thought it would do after the Q is off.
I told him what it traded at when the Q was off.
Do you have a problem with that?
Any fund that is in to win will simply buy more when the pps drops.
Your numbers are inaccurate and misleading.
Any substantial holders have to file a notice in court if they want to dump their shares.
I suggest you do some REAL RESEARCH before you post GARBAGE like that in the future.
hahahahaHA
I needed that.
That is WAY 2 FUNNY my friend.
Your guess is as good as mine.
I would say it would shoot up to atleast $10 right away and would increase from there.
December 31 2007 the high was $16.50
Halloween 2007 the high was $21.64
It is a preferred with great dividends that is non-convertible.
WIN WIN WIN
That is a very good point.
It is one thing to be risky, but it is a much different thing to be stupid.
If the shorts really did cover, then they covered because they know what they were shorting, and it is very likely that those same people are going to start BUYING now.
No matter what, all of these preferreds are likely to see a steady increase from here on out.
Woooooh hooooo!
Your institutional ownership #s are off.
I suggest you re-check your #s and your sources.
That is correct .
WAMUQ/WAMPQ/WAMKQ/WAHUQ are WMI shareholders, not WMB shareholders.
(WAHUQ is a security to the TRUST of WMI, but I know you already know that)
Per this court order, WMI has to publicize the Bar Date for filing claims against them.
People will be reading about the Bar Date in The New York Times, The Wall Street Journal , and The Seattle Times.
(see page 8 in the following document)
1/30/2009 0812229-636 0632 Order Pursuant to Section 502(b)(9) of the Bankruptcy Code, Bankruptcy Rules 2002(a)(7),(f),(l), and 3003(c)(3) and Local Rule 2002-1(e) Establishing Deadline for Filing Proofs of Claims and Approving the Form and Manner of Notice Thereof
http://www.kccllc.net/documents/0812229/0812229090130000000000005.pdf
IMO, once WMB creditors find out that they have no valid claims against WMI, the FDIC is going to get flooded with claims against them. WMB shareholders, noteholders, etc got $crewed with their pants on, and they can thank the FDIC for that.
This might help a little, or it might not.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35231456
Here is what ETRADE shows, but the information is clearly not accurate as it shows that there is 0% institutional ownership which is incorrect. Also, they show the same #s for all of the WMI securities.
WAMPQ
Shareholder Equity
Shares Outstanding 1.7 B
Institutional Ownership 0.00%
Number of Floating Shares 1.7 B
Short Interest as % of Float 22.53%
Financial Strength (MRQ)
Quick Ratio --
Current Ratio --
Debt/Equity 1.18x
Debt/Assets 0.10x
WAMUQ
Shareholder Equity
Shares Outstanding 1.7 B
Institutional Ownership 0.00%
Number of Floating Shares 1.7 B
Short Interest as % of Float 22.53%
Financial Strength (MRQ)
Quick Ratio --
Current Ratio --
Debt/Equity 1.18x
Debt/Assets 0.10x
WAMKQ
Shareholder Equity
Shares Outstanding 1.7 B
Institutional Ownership 0.00%
Number of Floating Shares 1.7 B
Short Interest as % of Float 22.53%
WAHUQ
No data available.
WTF ?
I don't know Rockie.
I don't know what the arrangement was regarding the preferred shares.
If the preferreds were not going to get paid in full or if they were just going to be assumed. If the preferreds were to be assumed, then the terms found in each prospectus would have to be honored.
With regards to TWKGQ, it was announced a couple of years ago that these shares are not going to be cancelled so it is only a matter of time before the pps goes up. People are holding on TIGHT to their shares, and yesterday there were only 7,000 shares traded that weren't traded until the very end of the day.
That is VERY INTERESTING.
Is it time for a run?
Someone would have to be pretty silly to be shorting WAMPQ, WAHUQ, WAMKQ, and WAMUQ anyways, but usually people still short them anyways.
HMMMM>
I entered in TWKGQ , which is another BK stock I own and that info comes up.
When was the last time you were able to access the short interest data?
I think we will see C move up and down pretty consistently since the pps is so low.
The low pps is a good thing because small $$ changes = large % changes.
I also feel that the government will not allow WFC, JPM, BAC, USB, or C to file BK.