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LOL - me too - I got very lucky and broke even on APEX - I loaded up on the Q stock and then it ran - I got out even!
Wheeeeeeeeeeeew!
LOL
FAZ is going UP right now!
Bid $5.78
Ask $5.79
Dude - if we are hit by a meteor - FAZ will rock - no pun intended.
LOL - Instead of the US filing for BK protection - they will give the world the old Marilyn Monroe!
OUCH!
I am still thinking its good for bounces - all the way down - lower lows - lower highs -
Once we see .01 - I am all IN! - and holding long!
LOL
I agree with you - "its only in times of complete hopelessness that awesome buys are achieved" - stock2windaily 2009 - LOL
Another reason I am high on FAZ
As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the "2008 Financial Report of the United States Government" as released by the U.S. Department of Treasury.
The difference between the $455 billion "official" budget deficit numbers and the $5.1 trillion budget deficit cited by "2008 Financial Report of the United States Government" is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851
BE careful if you are like me and flipping GM right now:
GM Now Sees Bankruptcy as ‘Probable,’ Henderson Says (Update4)
By Greg Miles and Katie Merx
May 14 (Bloomberg) -- General Motors Corp. Chief Executive Officer Fritz Henderson said bankruptcy is now probable as the biggest U.S. automaker races to beat a June 1 deadline to cut costs and debt to avoid it.
“It is probable” that GM will end up using the bankruptcy process, Henderson said today in a Bloomberg Television interview at the company’s headquarters in Detroit.
The comment went beyond Henderson’s May 11 assessment that resorting to court protection to reorganize was “more probable” than GM had previously thought. Henderson is signaling that GM recognizes that bankruptcy is inevitable, said Dennis Virag, president of Automotive Consulting Group Inc. in Ann Arbor, Michigan.
“They would prefer not to do it, and it would be best if they did not have to go through bankruptcy,” Virag said. “I just don’t see any way GM can successfully reorganize without it.”
GM’s bankruptcy filing, if it happens, will likely be in New York, notwithstanding opposition from officials in its home state of Michigan, said a person familiar with the matter who declined to be named.
Weil Gotshal & Manges LLP, a New York-based law firm that is GM’s longtime adviser, may already have more than 100 lawyers working on the automaker’s restructuring, and has been preparing a bankruptcy filing in case it’s needed, according to the person and another individual familiar with the matter.
500 Lawyers
Given the size of GM, a bankruptcy proceeding may demand more than 500 Weil lawyers, exceeding the number who worked on the bankruptcy of Enron Corp., the energy trader the collapsed in 2001, said Stephen Lubben, a professor at Seton Hall University School of Law in Newark, New Jersey.
GM’s tasks include shaving operating expenses and negotiating with bondholders and the United Auto Workers to shrink debt and union obligations by $44 billion. President Barack Obama’s automotive task force set the timetable to complete those tasks or have the company end up in court.
GM is offering bondholders 225 shares in a newly created entity for each $1,000 in principal. GM, stripped down to its best assets and less debt, would then execute a 1-for-100 reverse split of the stock.
Bondholders countered that proposal with a plan calling for GM to give them 58 percent of the equity in the reorganized company. Henderson said last week that the U.S. Treasury has indicated it “would not be supportive of shareholding in excess of 10 percent” for the bondholders.
90% Needed
Without support from 90 percent of the bondholders for the 225-share offer by May 26, GM has said it plans to file for bankruptcy by June 1.
Investors have been betting that GM’s equity value will be wiped out, with the shares tumbling 94 percent in the 12 months that ended yesterday. GM fell 6 cents, or 5 percent, to $1.15 at 4 p.m. in New York Stock Exchange composite trading.
GM’s comments on its bankruptcy prospects have been evolving since Henderson took over in March after the car task force asked CEO Rick Wagoner to step aside. Henderson used the “more probable” phrasing to reporters on March 30, while saying that court protection wasn’t GM’s preferred option.
Any trip through bankruptcy court must be fast, Henderson said today. It’s also important for GM to be able to make speedier decisions, he said.
To contact the reporters on this story: Greg Miles in Detroit at gmiles1@bloomberg.net; Katie Merx in Southfield, Michigan, at kmerx@bloomberg.net
I have changed my investment strategy - I now go for 10% gains - on sure things!
BEAT IS A STRONG - STRONG - STRONG - BUY!!!! EASY 10% PLUS
I need a ten bagger as well!
I am going to post the charts of those two.
We need a PULLBACK!
Didn't buy SIRI when it was .06 - may be a good time to look at it now.
Board has been updated - I have to say WOW - we had stocks that were under a dollar - that are now over $6.00!!!
We had so many stocks that were now over $2.00 - $4.00 - it was insane - all of them were under a dollar when they were posted here!
INCREDIBLE!
I had to delete the entire below a dime board - LOL - they were way over!
This had to be the 2 - 10 bagger site of its time! Too bad I didn't hold!
Still holding mine!
No choice really - LOL!
We may do well in the near future - if we buy the double short healthcare ETF - of course wait until the Government mentions they are taking over - LOL
Me neither - yet the damn things are going up - LOL!
I just need people to give me reasons of why this isn't a long-term problem. I just need some convincing that the financials are all fixed and they can dilute and still go up in price.
LOL - I can't do that - wish I could! Everyone around me is so bullish - but I can't help but ask - what exactly has changed?
Only benefit I see - Those who lost a fortune - have made back about 25%!
Greed will keep them in the market - and they will be sipping beers with me asking me - why didn't I get out - I was given a second chance.
Enough said - I think the promo shares are about gone - I have been calcualting - not much left.
Long Term holding for me!
1.) Housing foreclosures in standstill - until inventories are eaten through - doesn't mean the problem is gone.
2.) Unemployment continues to rise - even though the media spins it and makes it sound like its less then we thought - we are still going down as long as jobs are being lost.
3.) Unemployment will be huge in the future - Chrysler in bankruptcy - GM to follow - that involves restaurants, parts manufactures, etc.......
4.) Credit card debt has become a crisis - $2.98 trillion. Defaults are climbing.
5.) System is being held up - by temporary fixes - lets call them bandaids for a very large wound. Stop the bleeding, yes - long-term - probably not!
6.) People who can't live on unemployment, don't file for unemployment - they deliver pizzas temporarily and don't reflect the numbers.
7.) Banks have risen up substantially - profit taking is bound to happen - which could trigger a large selloff.
8.) Stress Test is forcing banks to raise capital - IE -- stock dilution.
If these reasons are bogus - or if anyone has an argument against them - I welcome your posts!
Someone please make me feel more positive - LOL!
Its a matter of time - glad to load the cheapies.
I will buy more tomorrow if I can get a few more at .0005.
Look at the float - its still very small in comparison to the existing price and the existing potential.
Many pinks have 70 billion plus - this has under 200 million - IMO
I am flipping it - but I agree - this will be a good long term hold!
Wish they had sub penny ETF's - LOL!
Created a board just for you guys - regarding ETF's - - - -
Want a good plan
Buy FAZ - and hedge it with the Ultra Dow Long 2x's - Financials go down - you win
http://investorshub.advfn.com/boards/board.aspx?board_id=15426
Financials go up - so does the DOW
Financials go down while rest of Dow goes up - your REALLY WIN!
I haven't sold a share!
Could of sold at .0006 - and made some profit - I think with the next news release I would kick myself - so I am holding for awhile and trying to accumulate more!
Job numbers come out tomorrow - they are worse then expected!
Banks will have to return the money - with interest - interest is at a HIGH rate - that will not help the cause.
When Chrysler go BK - which they already filed, and GM follows - which they are more then likely too - the banks that have LARGE LOANS to them - will likely have to settle for pennies on the dollar.
I could go on - but no need - add to that the other problems and commercial real estate foreclosures now starting to become a problem..... Credit card debt is now at $2.95 Trillion and the next crisis is expected to be the Credit Card Crisis.
Then - consider the auto repossesions that will be coming with the increase of jobless people!
Back in FAZ - these shares I will hold long-term! If the opportunity exists to average down - I will do so - This market is in no way, shape, or form - a true bull market on its own - its a bull rally in a bear market - convince me otherwise.
Probably true - I sold for a profit - will reload again - when the time comes.
LXK - Lexmark - Looks like a sweet buying opportunity at $16.34
Will try to get in around $15.90
If you don't think our Government is in favor of Nationalization - read this.
US Govt Pushes German Govt To Nationalize Opel
ReportLast update: 5/14/2009 4:35:48 AMFRANKFURT (Dow Jones)--
The U.S. government is pushing the German government to nationalize General Motors Corp.'s (GM) Adam Opel GmbH, German daily Handelsblatt reports Thursday, citing German government sources. The U.S. is generally skeptical about a solution for Opel involving a trustee, an option presented by German economics minister Karl Theodor zu Guttenberg, and are hard to convince they won't be worse off with such a solution, the report says. An Opel spokesman declined to comment, the newspaper says. A German government spokesman Wednesday rejected a report in regional newspaper Rheinische Post, which said that the German government is planning to temporarily nationalize Opel. "Tomorrow, there will only be talks exchanging information, there won't be any preliminary decisions. A temporary nationalization of Opel is not being discussed," the government spokesman told Dow Jones Newswires. Newspaper Web site: www.handelsblatt.de -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500. (END) Dow Jones NewswiresMay 14, 2009 04:35 ET (08:35 GMT)
That's FAZTASTIC!
EXCELLENT post!
No problem - after doing some more deep reading - I am scared - LOL!
Looks like they may do a reverse split of 100:1 - in the future - to maintain their listing with the NYSE - it's not certain - but they refuse to be delisted. The benefit would be that would make their stock $100.00 per share - and the float would be reduced substantially. The other benefit is that Mutual Funds and Hedge Funds would be more apt to consider buying them.
They also expect 60 billion additional shares of common stock - after they convert all the preferred shares.
In a positive note - we can flip it for now - it has the volatility. Accumulate during the lowest points right before the R/S IMO!
I think you have to hold preferred shares of GM - which I have GPM shares.
Why didn't you let me know about this?
Thanks for the simplification.
On that note - I am not buying anymore FAZ - too many other ETF's with much more potential.
Such as DXD!
Still wishing I would have bought stock at $8.00 - when I had a chance!