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Almost 1 hour of trade and zero sales??????
Housing problems. This does not look good for some of what we think are the remaining operational parts of Phonix>
Report from Wealth Daily:
Levitt and Sons Bites the Dust
By Steve Christ | Thursday, November 15th, 2007
Lined up in neat rows one just like the next, the suburbs are as American as the Big Mac. And to the millions of people that grew up in them and call them home today, they are part of much larger idea - a slice of the American Dream.
The grandfather of them all, of course, was a community in New York called Levittown, the first subdivision ever developed. Built by Levitt and Sons after World War II, the planned and mass produced community was so successful that it changed the face of the country forever.
In fact, by 1948 Levitt and Sons became so efficient at cranking out these popular new houses that they could have given Henry Ford himself a run for the money. At the peak of their muscle, Levitt crews were turning out an unbelievable thirty houses a day. Talk about throwing up houses.
Levitt Meets its Match
But some 200,000 houses and 60 years later, the builder that was once featured on Time magazine when it really meant something has fallen on hard times. Levitt and Sons declared bankruptcy last week.
Citing "unprecedented conditions" in the home building industry that left it unable to meets its financial obligations, the Levitt Corporation (NYSE:LEV) homebuilding unit filed for Chapter 11, leaving its creditors, vendors and customers in the lurch.
"The homebuilding industry, particularly in Florida, has experienced unprecedented declines with an oversupply of inventory and waning demand exacerbated by the recent disruptions in the credit markets," said Chairman and Chief Executive Alan Levan in a statement last week.
That put the legendary builder on the same slippery slope with Neumann Homes, Elliot Building Group, Turner-Dunn Homes and Kara Homes as builders that have hit the skids.
And thanks to the ongoing credit crunch and the massive oversupply of houses on the market, it's a dubious list that will likely grow, claiming much bigger and better-known names.
This is, in short, an industry now facing a major contraction. The same builders that put up over two million homes at the peak just two years ago are now left with a market that economists expect to shrink to only one million units by 2008.
More Homebuilders Headed for Bankruptcy
That, according to Ivy Zellman, means only more pain. "We're in the first or second inning," the independent housing analyst says. "There are going to be a significant number of insolvent builders."
Mark Zandi, chief economist at Moody's, agrees. The industry, he says, is "going to be a shadow of itself once we get through this downturn. Everyone was too optimistic."
At issue for the most part are the massive debts that these builders have run up and their ability to maintain enough cash flow to service them. That's because, as each of these failed builders has learned, it's a short trip from a payment default to a date with the courthouse steps.
In the end, that's what eventually buried Levitt and Sons--they were unable to restructure their debt and couldn't sell enough homes to meet their payments.
Unfortunately, it's a nationwide problem. In fact, some analysts see a repeat of the downturn in the early 90s, when 15% of the nation's builders went belly up, according to the National Association of Home Builders.
In their wake, of course, will be a slew of unfinished projects, angry customers and falling prices as builders do everything it takes to avoid bankruptcy.
For their part, Levitt and Sons just came up a little bit short. They won't be the only ones by a long shot.
The bottom in housing is nowhere in sight.
By the Way: The problems at Beazer Homes (NYSE:BZH) continue to mount. The troubled builder revealed last week that it was cutting 650 positions, or 25% of its workforce, and had halted its 10-cents-a-share dividend. Preliminary figures showed home closings down 39% and new home orders down 53% on a 68% cancellation rate. Now that's ugly.
On top of that, the Charlotte Observer reported last week that Beazer "will delay paying subcontractors in at least one city where it builds homes, as the company struggles to ride out one of the most severe housing slumps in recent history."
The Observer obtained a letter dated November 5 and signed by Beazer Nashville Division President David Hughes, who said "effective immediately" the company would hold up payments.
"It is unfortunate, but we cannot continue the prompt payments you have received in past years," the letter stated.
Needless to say, that's not exactly a good sign. Beazer, you may remember, was the subject of bankruptcy rumors this summer.
Wishing you happiness, health and wealth,
Steve Christ, Editor
IW, your volume/price signals sound logical and I can see what you mean. Would like to do some testing along these lines but have some questions if you don't mind. Do you look at all sales for a day or just the total eod volume ie did the day end even, down or up on the previous days trading and what was the total volume for the day?. Do you also look at this info on a weekly basis? And lastly, do you do these reports manually or is there a standard report available that generates this info automatically?
Thanks in advance. mij
Yep, looks like they have done another RS, but strange that no mention of a RS that I can see in their press release ???
Anyone seen mention of a RS ????
Tried to enter a sell order order with Ameriturd. Neither the old nor new symbol was recognised so I was unable to submit an order.
Called Ameriturd and was told it can take up to 6 weeks to bring the new symbol stocks into my account and until this happens I can not trade. Was also told that it is up to WTVI / WTVN to replace the shares and has nothing to do wiyh Ameriturd.
We have some very wealthy investor trying to paint us down with a $1.20 purchase @ .00003. We should all sell before he spends another $.80 for 4000 more and the price plummets to.00002 - lol
Another monumental PR (crap), another acquisition (more crap)
and the PPS drops again (Oh crap). At least PBLS is consistent, give out a PR and the price drops - lol
Received this alert earlier.
http://www.smallcapcenter.com/snapshot_newsrelease.asp?component=compinfo.asp&page=snap_newsrele...
There is no PBLS news in the alert. OTCPicks have doubled up on the news for Unico Incorporated and put their news under PBLS news. I wonder if it's a mistake or is there a news release from PBLS that did not come through??
Tony, I have a feeling I'm about to show my ignorance - lol - however, what is a "tweezer bottom", I have never come accross this term before.
thanks strinh
A question re. part of the information on the website. Can anyone shed any light on "the Sunray investment" and Receiver in the case" (what case?),mentioned in point 2? ("2. The Receiver in the case with the Sunray investment is entering the final phase with the Receiver accepting bids on the whole package from interested parties. We await the decision with interest.")
Just looked at the ICDN website and saw this for the first time. I don't know when it was posted but note points 3 - No reverse split and point 4 - No news in September.
"In response to questions: 1. We will not let out news just yet on our current deal(s) as we have agreements with the other parties not to release news until all parties agree and have reached certain milestones. 2. The Receiver in the case with the Sunray investment is entering the final phase with the Receiver accepting bids on the whole package from interested parties. We await the decision with interest. 3. We have no plans to reverse-split the stock. It is managment's policy and the wishes of major shareholders NOT to Reverse-Split the stock, rather to earn our way to success. 4. We do expect to have material press releases in September 2007."
Sorry if this is old news as it's been a while since I looked at their website.
what is/are momo's ?????
Yeah elis a $21.29 buy at eod to bring the close to .012 (1774 shares). Huge buy. lol
edited to add - or was that $2.12
Huh??? 57cents Trendy? Are you sure you are talking about Spooz? High of the week. What week???
Market open for 20 mins (edited) and no SPZI trades show on my Ameriturd streamer. ??????????? Is this correct?
Edited again - forget this post, a sale (20k * .012) just came through - wow a slow start to today.
For the boards information,the last 10K trade was my buy. Was filled almost immediately.
Jim
Is this trading like a stock with 2+ Billion shares??? Not a single trade for over an hour. Has anyone had any buy or sell orders in over the last hour??? I can not work out this lack of trading. Any comments???/
Jim
edited to add: whoops just had a 250k trade
Ren, maybe you could call the company and ask them to stop any further PR's. Every time they issue one, the PPS drops lol
Good morning all (5.30am here in China).
Off topic but interested in any feedback on a site I just found - DD Machine - http://www.ddmachine.com/default.asp
The information available looks very good. Does anyone here use this site, if so I would be interested in your opinions.
On topic - China is the worlds biggest user of concrete. Maybe an opportunity for the next PBLS $6B contract - lol
Jim
Hi Pedros, totally agree with you. I skip cent penny posts as well - too hard to read.
Songbirdia, yes I totally agree with you. The compounded investment pool would grow too large for individual stocks to handle i.e.the pool could grow to more that the combined total trades in all markets. However it would be a nice problem to have to manage. There are other investments to diversify into. Maybe SPOOZ could end up owning the world in 40/50 years - haven't done the maths on that one yet lol..
Gbathat, I have not checked your maths but I'm not surprised at the result. That's why Albert Einstein, well known for being smarter than the average bear, once called compound interest "the greatest mathematical discovery of all time".
Imp Whaz your explanations are amazing - thanks.
I have a question relating to the way Spooz Toolz spots potential trades. I understand that we will enter certain trading indicators as our search criteria. However I am unclear on how the results of those searches are reported. Do you enter the Stock tickers that are of interest to you and wait for a result to match your search criteria or does the program execute a global search of all stocks and return a large list of matching, possible stock trades for you to consider? Hope this question makes sense.
Phoenix to Release Q1 & Q2-2007 Results by Aug 1st and Aug 15th, Respectively
via COMTEX
July 13, 2007
Company Will Be in Full Compliance With Pink Sheets Guidelines to Maintain Its Status as "Current Information" Provider
MADISONVILLE, LA, Jul 13, 2007 (MARKET WIRE via COMTEX News Network) --
Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that the Company intends to update its financial full disclosure documents with Pink Sheets to include Q1-2007 financial results by August 1, 2007, and Q2-2007 financial results by August 15, 2007 so as to be in compliance with requirements to be categorized as a "Current Information" provider under the new Pink Sheets categorization system.
Phoenix has had many recent calls and emails from shareholders asking whether the Company would be making Q1 and Q2-2007 financial disclosures via the Pink Sheets disclosure process by the dates required to maintain its status as a Current Information provider. This release is intended to assure all PBLS shareholders that Phoenix will meet the required disclosure dates.
About Phoenix Associates Land Syndicate
The buyers and MM's have gone to lunch. Low volume for a bounce, especially compared to the last 2 weeks. Any comments???
Has anyone noticed the slowdown in trades. I count only 9 trades since 11.44am and most are very small volume. Don't know if this is significant or just that the shorts are out to a long end of week lunch.
Can anyone shed some light on why it's trading in a small .0001 channel. The number of shares traded, even over the last 3 weeks does not look like a 1.75 B float stock. I agree with the earlier post that there are many balanced quantities of buys and sells. Looks like someone or group wants to keep the PPS between .0125 and .0124. If you discount the sales that balance each other out, the actual volume traded becomes much lower. I have never experienced anything like this before. Who would profit from this and why?
Very confused!!!!
Has anyone been in contact with Ameritrade to find out what is the problem with no streaming? I am outside the US and can only enquire by email. Answers to these usually take 1 - 2 days. Would appreciate someone in the US letting me know if Ameritrade are aware of the problem and when it will be fixed. There is no mention of it on their site.
Jim