posted
ooooh... i suck. accidentally put a limit sell instead a stop loss .. so, i'm out at 1.43, gotta wait to settle now. and i know this thing's gonna bounce.. dammit!
-------------------- the market is not your mother
IP: Logged |
posted
****. It's been trading in a nice tight channel all day, but now the lunchies are gonna come in and mess it all up. Spike up... fall down. Gnarsh.
Uh-oh. 2.99 spike, right now.
-------------------- the market is not your mother
IP: Logged |
The San Diego-based lender issued a "going concern qualification" in its annual report, filed with the Securities and Exchange Commission early Thursday. The report, which said the company cannot assure it will survive, described an accelerating cycle engulfing its industry.
Accredited Home Lenders has paid $190 million in margin calls this year. Margin calls were a major reason New Century Financial Corp. went bankrupt in April, and a major reason American Home Mortgage Investment Corp. is in danger of doing the same.
Accredited Home Lenders has agreed to a $400 million buyout offer from an investment fund called Lone Star Fund V. The company said it too could face bankruptcy if the $15.10 per share tender offer falls through.
Stifel Nicolaus analyst Christopher Brendler said the stock is trading with so little regard to the $15.10 per share tender offer implies people think Lone Star will cut its offer or back away entirely.
That volatility was on display Thursday as the stock market staged a modest recovery following a 6 percent sell-off in the past two weeks. Shares of American Home Mortgage Investment had more than tripled before easing back in Thursday's session. In afternoon trading, the stock was up $1.09, or 73.7 percent, to $2.57.
-------------------- the market is not your mother
IP: Logged |