getting ready for the next leg up imo 1.10/1.14
Posted by fourseven on :
Yeah, nice goer this morning..
Posted by Fuzzy1018 on :
its going much higher imo
Posted by Fuzzy1018 on :
buying pressure too high for the run to be over here imo
Posted by fourseven on :
Seems to be basing around 1.1, kinda lost momentum..
Posted by Fuzzy1018 on :
quote:Originally posted by fourseven: Seems to be basing around 1.1, kinda lost momentum..
creating a new base for the next leg up imo
Posted by adi on :
hi, anyone getting on board?
Posted by fourseven on :
I'd wait for it to perk up.. maybe 1.15 or so..
Posted by fourseven on :
yeah, like it's doing now.. Posted by adi on :
Bid / Size: 1.15 / 21 Ask / Size: 1.17 / 1
Posted by Fuzzy1018 on :
welcome aboard guys; did any1 notice everytime we go up they flast $3.00 ask. It happened like 4 times since the morning
Posted by fourseven on :
Fuzzy.. wasn't sure if it had upside potential.. this last little bump convinced me. I'm staying, with a trailing stop loss in place. GLTA!
Posted by Fuzzy1018 on :
1.18/1.18
Posted by Fuzzy1018 on :
quote:Originally posted by fourseven: Fuzzy.. wasn't sure if it had upside potential.. this last little bump convinced me. I'm staying, with a trailing stop loss in place. GLTA!
GL to you aswell, alot of upside here imo. I'm holding tight in at .80
Posted by fourseven on :
1.20 resistance right now
Posted by Fuzzy1018 on :
yea, might see a lunch time dip before it goes up
Posted by lostone on :
quote:Originally posted by fourseven: Fuzzy.. wasn't sure if it had upside potential.. this last little bump convinced me. I'm staying, with a trailing stop loss in place. GLTA!
i couldn't stay away.. saw it at .83 this morning.. anyway, also TARR doing the same, except it's a bit later than LUM, and believe it or not HMBN did 50%+ earlier, but at pennies.. lol.. glta..
Posted by Jo4321 on :
sorry wrong thread
Posted by 10of13 on :
Has anyone read all the filings and what not on this? Almost sounds like what LEND went through a few months ago...
Posted by 10of13 on :
Crap. I put a trailing stop loss at .07 around noon, and the stupid thing did not kick in all day. It should've sold at ~1.30.. why wouldn't it trigger?
Posted by ed19363 on :
Because bankruptcy is right around the corner???
Posted by fourseven on :
I spent some time on the phone with the reps, trying to figure out what went down.. These kinds of orders only work on primary markets -- and usually the brokerage indicates that.. for example, trying to put a stop loss on a p.o.s. pinkie will result in a "the order you're trying to place is not applicable to this security" message. But LUM is a big-board stock -- or was.. in the sh\itstorm of recent few days, it got knocked down to trading on tertiary markets.. where these orders are not available. Long story short, I've managed to slip through a crack in the system.. to my disadvantage.
Anyway.. I'm still holding, just because it looks like I might grab a profit off it after all. This time though, a plain vanilla market order Posted by fourseven on :
Hm. It's not dropping. It's been hovering between 1 and 1.05 all day..
Posted by fourseven on :
Eek. I'm out at 1.0 .. nothing happened.
Posted by fourseven on :
Today again: .89 to 1.17 ... in yesterday at .87, out today at 1.15, nice and clean.
Posted by relaxed137 on :
Holy crap! 1.40 in PMT? I wish I had some to short at this price, whats up???
Posted by Ace of Spades on :
LUM (NYSE) Dreier LLP Announces Class Action Lawsuit Against Luminent Mortgage Capital, Inc. (LUM)
tough resistance level here at 1.27ish
Posted by fourseven on :
Nice morning, eh? I wish I held overnight.. but with these troubled lender stocks, you never know if it's gonna trade the next day
Looks like it's settling on support at 1.20 .. totally gapped over the magic number, but comes back to it.
If it does hold above 1.20 until next week, I'd start looking at that big gap from the first week of August.. who knows. It might try to fill it.
Posted by Fuzzy1018 on :
Gap filled, picked up some at $1.25
Posted by Fuzzy1018 on :
1.25/1.26 now
Posted by PCola77 on :
Shakerz is on this one, just so you know.
Posted by Fuzzy1018 on :
1.27/1.28 thanks pcola
Posted by Fuzzy1018 on :
everyone missing the run on this one 1.65 now after hitting 1.86- nice news out
Posted by Fuzzy1018 on :
$1.70 now $3 by tom
Posted by Fuzzy1018 on :
Luminent Reports Progress with Whole Loan Lenders as Part of Strategic Initiative to Rebuild Value SAN FRANCISCO, Sept. 11 /PRNewswire-FirstCall/ -- Luminent Mortgage Capital, Inc. (NYSE: LUM) today announced progress in stabilizing its whole loan business.
Luminent reported that, with respect to the $594.8 million of non- securitized whole loans and commitments to purchase an additional $320.9 million of such loans on its balance sheet as of June 30, 2007:
-- Luminent has repaid all of its warehouse lines of credit that were financing these whole loan purchases. One warehouse line for $1.0 billion has been terminated, and no balances are outstanding under two warehouse lines totaling $1.5 billion. -- Luminent has sold all but five loans in its warehouse facilities. Luminent does not finance these five loans and is seeking recoveries where it has the contractual right to require a repurchase by the originator. -- Luminent has maintained its interest in its ten whole loan securitizations.
Luminent has reduced its employee workforce since August by 15 persons, which will result in appropriate savings in light of reduced origination volumes in the future.
Trez Moore, Chief Executive Officer, stated, 'Luminent is moving forward with strategic initiatives designed to capitalize on investment opportunities in this changed market environment. These initiatives are designed to resolve Luminent's liquidity issues and, over the longer term, create opportunities for enhancing the value of Luminent.'
This news release and Luminent's filings with the Securities and Exchange Commission contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey Luminent's current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward- looking statements. Forward-looking statements include statements regarding our financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words 'may continue,' 'estimate,' 'intend,' 'project,' 'believe,' 'expect,' 'plan,' 'anticipate' and similar terms may identify forward-looking statements, but the absence of such words does not necessarily mean that a statement is not forward-looking. These forward-looking statements include, among other things, statements about:
-- the effect of the flattening of, or other changes in, the yield curve on our investment strategies; -- changes in interest rates and mortgage prepayment rates; -- Luminent's ability to obtain or renew sufficient funding to maintain its leverage strategies and support its liquidity position; -- continued creditworthiness of the holders of mortgages underlying Luminent's mortgage-related assets; -- the possible effect of negative amortization of mortgages on Luminent's financial condition and REIT qualification; -- the possible impact of Luminent's failure to maintain exemptions under the 1940 Act; -- potential impacts of Luminent's leveraging policies on its net income and cash available for distribution; -- the power of Luminent's Board of Directors to change its operating policies and strategies without stockholder approval; -- effects of interest rate caps on Luminent's adjustable-rate and hybrid adjustable-rate loans and mortgage backed securities; -- the degree to which Luminent's hedging strategies may or may not protect it from interest rate volatility; -- Luminent's ability to invest up to 10% of its investment portfolio in residuals, leveraged mortgage derivative securities and shares of other REITs as well as other investments; -- volatility in the timing and amount of Luminent's cash distributions; -- Luminent's ability to purchase sufficient mortgages for its securitization business; and -- the other factors described in Luminent's Form 10-K, Form 10-Q and Form 8-K reports, including those under the captions 'Management's Discussion and Analysis of Financial Condition and Results of Operations,' 'Risk Factors' and 'Quantitative and Qualitative Disclosures about Market Risk.'
Luminent cautions you not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to Luminent or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release. Except to the extent required by applicable law or regulation, Luminent undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Contact: Lin-Hua Wu / Lyndsey Estin Kekst and Company (212) 521 4800
SOURCE Luminent Mortgage Capital, Inc.
Posted by Fuzzy1018 on :
nice close at $1.70 gapper in AM
Posted by Fuzzy1018 on :
gapping up nicely, went up to $1.95 now at 1.85
Posted by Fuzzy1018 on :
hope people made money on this one, I'm out for now will pick it up again once i see a good entry point
Posted by fourseven on :
LUM's been such a cash cow recently... just wait for the right swing, get your 10% .. it's nice. Wonder how long that will last..
Posted by kywee on :
Anyone have short term thoughts on LUM?
Posted by fourseven on :
yeah.. i think it's gonna keep drooping like it is, then drop, then bottom, then we'll see
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