Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I found something encouraging today -- somebody bid .09 with an ask of .11 on LEHKQ for at least an hour and for awhile nobody sold. That's hanging tight. Or perhaps people were at lunch. ha ha
Hey, you can't fault a guy for trying. Boo -- hiss. Scary News..
I would absolutely agree with you if we had seen the volume, but we didn't. I feel the prospects are good for the long term on all Lehmans except Commons, however long term is not now -- it's not even June 30.
You are right about one thing -- noone will be able to get shares when the peeps suddenly arrive slapping the ask like crazy. The way I see it -- noone will get my shares as long as the volume is strong. High, extended volume WILL mean higher pps. This is absolutely guaranteed, because even the MMs can't hold back forever (their inventory can't last if everyone is slapping the ask for days on end).
Judging from the low volume, this looks like a pumpndump scenario. Follow my advice and sell at least a little if you are in the green. If this were real, then there would be steady pressure upwards -- even on no news. Someone probably bid it up and dumped it all. JMO.
If you watched the bid/ask spreads this morning, then it seemed concerted to a large degree. Almost all went up at the same time. That might be coincidence...or not.
Perhaps the MMs decided to let them run for awhile and profit on the way up, before shorting and slicing it back down. Let's hope these prices will be in the rearview mirror soon. GLTA
Hey, toogood, I just thought of something...I agree with you and others that money is hidden somehow/somewhere. What if the way that they're hiding it is simply making the deals, but delaying updating the b/s (perhaps due to some accounting trick, like "payment not sent just yet"), that way the deals are done, we're in the money, but they wait until the bonds and others in front get their 20%+. Do you see where I'm going with this?
The NOLs are an undeniable fact that is worth dollar for dollar in tax credits on earnings. Yet, even we forget about it. Like you said, there are other items too. Yellow cake, anyone?
toogood, that was a good post about the two items. We'll see. GLTA.
I got three of them. One for each C/T type. Hey, what do ya think happens if/when the settlement goes against us? Does it all go poof? Of course, on the flip side, what happens if something goes for us.
Linda, shouldn't we all (CT holders) want Paulson's plan to prevail? Are we not senior unsecured creditors? The California Pension system bought our C/Ts, right? Hopefully, we will be linked with them and get a payout at the same time. Who are subsidiary creditors?
"... representing about $20 billion in Lehman claims filed its own proposal late last year that pushes for a 24% recovery for senior unsecured creditors at the expense of subsidiary creditors."
Did anyone save a copy of the webpage? It would be a simple thing to simply reload the mainpage with that saved copy and update it. Now, the links would be hard unless they were saved also.
That is a good point, dnoto.
I got a response from Just2Trade and they stated that the fee would be 2.50 a trade, even for OTC (with the minor SEC fee).
Anyone know anyone who has used Just2trade?
http://www.just2trade.com/fees/commissions
2.50 a trade
It must be hard to trade Lehmans with 6.95/7.95 per trade, imo.
I already have 30K in C/Ts. I just want to buy more at a lower cost. With Zecco's former free trades, I could put in a limit order for, say, 6K at whatever pps, and if part filled -- fine. Maybe the MMs would stick me with a few hundred shares -- but hey, who cares, it was free, right? Now, it's AON, baby. I'm not paying $6.95 com + pps for 401 shares of any penny stock.
Anyone know a good broker so I can buy more Lehmans? Specifically -- free or low cost (less than $5)
Hey, Jersey, I need to find a low cost broker to buy more Lehmans. You're always talking about buying more. What's your commission? I have Zecco, but a month ago they went from being a great broker to grabbing for my wallet.
Actually, I have gotten back in -- but I stick with C/Ts nowadays. I have over 20K. We are closer now than we were before. If something is going to happen, it will happen soon enough.
Linda, if a fraction=10%, then the recovery would be $120 Billion -- would that be enough for full payment of the C/Ts and LEHJQ?
There was this funny article about the last conservative investor in the WSJ. On March 15, 2001, the article spoke about this investor finally selling all his conservative stocks and buying all the risky tech, like Red Hat, Cisco, Microsoft, etc. That very day, the market absolutely tanked and never came back. He was literally probably that last guy to convert to the "new thinking".
Coach did bail, but at least he was smart enough to sell when the pps was high. He can buy his whole position and more for roughly 14% of what it cost him earlier. I wish that I had sold more than 10K at .12 (which I quickly reinvested when the pps went down). At the time, I thought that I was probably doing the wrong thing. Because I did not sell all, I lost many thousands of dollars of potential profit. Oh well.
Argus, one thing for sure, no matter when it happens, when things move, they will probably move very quickly up or down, as evidenced by past pps changes. I do not want to caught without any C/Ts if that happens. A few hundred bucks = $200K+ hmmm... not a bad risk/reward.
Linda, Barclays wants to get rid of all those Lehman coffee mugs and hats that they found in the closet....They are going to open a little Lehman online store. Anyone want a Lehman pen light? Anyone?
micmac, I wasn't pumping other stocks. In fact, I said they were risky -- 50/50. Hardly pumping. I couldn't care less whether anyone bought them. Anyways, 80% of the post was about C/Ts. Whatever.
#4 -- but one thing that I don't understand is how they are able to get away with stating such a low estimate. Perhaps they mean: "Well, if we were to stand on the street corner with a sign that said 'LEHMAN FOR SALE', how much we could reasonably expect to get in one hour".
Merry Christmas to all and have a Happy New Year! Here's a toast to a very lucky hand from the Lehmans!
Now, where did we put all those billions? Mmmmm... Wait, I found them on the floor, under this stuffed bear!
Linda, I didn't mean stop trading...I'm saying this: Are we sure that there is no plot to eliminate our claims as class 5 C/T holders in the creditors' plans? Oh, yeah, I hope the true valuations will be exposed!
Linda, again -- thanks for all your great work! You are a light shining in the darkness of Lehmanland. My questions are: Are we relatively sure that we are not eliminated -- Class 5 -- in the creditors' plan? My understanding from back in March was that we only needed a few 10 billion in order to jump the hurdle and have the C/Ts paid out. If the creditors' plan eliminates 48 billion, then are we not technically/theorectically in the money after more liquidation and assuming the creditors' plan passes?
Linda, it is common sense that a company cannot dump way over 300 billion into the market in six months. Even the dumping that they did was huge. Therefore, they retain the assets. The real question is: Was the original 600 billion figure correct? Or was it based on market conditions, assumptions, options, etc.?
COMMONS get 1%?!? I believe the reason that the COMMONS is always near C/Ts is simply the uneducation (ha, ha) or the illirateracy of the public. They think, "Man, I'm gonna get in on the Lehmans -- Hey, Joe, what's the ticker for Lehmans..." And that's all she wrote.
Linda, what is the status of the NOLs? Is that on our balance sheet? With all this favorable news and clawing back of money, I would think that the pps would move up, not down.
That was the MM's cousin Louie -- or was that cousin Vinny?
I sold 10K of LEHJQ when it was near its height, 'cuz I missed selling any the first run at the end of 2009. Of course, I plunged all that back in when it went down, then it went down again, then it went down again, then it went down again, then it went down again, then it went down again, then it went down again...Then I sold out for a few hundred dollar loss. Then I jumped into the C/Ts. I had a feeling that they would go to .01 when I did. Let me tell you a lesson learned: When your gut says that the C/Ts are going to go to .01, do not buy at .10! Luckily, I didn't buy a ton, just a few K. Later, I averaged down, so it's all good. I should not ignore my gut feelings.
Linda,
If you did put in a sell order and your order did not sell at the appropriate rise in price - or did sell and did not settle in your account in the 3 days - then I would think your Broker - who has control of your shares - would be implicated and responsible.
From personal experience with the Lehmans, I know that the pps can rise at or above your limit order and not sell. One time it happened to me -- I put in a sell, but the pps was fluctuating so fast on such high volume that from second to second, you did not know what the pps would be. I suspect that it wasn't MM manipulation, just a flood of orders on both sides. Believe it or not, I've found that canceling the order and quickly putting it back in seems to work, especially don't use AON. And of course, there's MM manipulation or apathy.
Jersey, although I am not absolutely certain, I have read on the boards that that is a good strategy to "lock" the shares. With all the naked shorting and delays in delivery of shares in panics/rushes, it might be a good idea. Probably the trading software won't allow the broker's personnel to borrow them -- just a guess.
Wouldn't it be great and strange if everything wrapped up nicely in our favor and all those guys like Coach were right, but missed the boat by a year and a half? Here we are -- JP Morgan being sued. BOA turned out perfectly and may have penalties against it, Barclays may go our way soon. I guess they can still get in now, but for how long? Jersey has been here half of forever (and still buying). Hey, Jersey, if you buy all the shares in a C/T, you can definitely foresee the pps changes.
Like Diamond Jim Brady with the spats on the Boardwalk with a cane? -- Puttin' on the Ritz