I've been trading these the past few weeks. The volatility is making for great day trading.
For anyone interested, be careful, as many more banks + insurers look to be in for financial disaster. Financial disaster meaning bankruptcy. There should be more downside in the coming months so remember to buy low and don't hold these for more than a few days. It may be a while before bottom is realized in this sector. It seems that more folks are still running up credit card bills instead of paying them off. Folks living above their means is a main factor in the increase in loan defaults.
ABK has been a moneymaker for me the past few weeks. All stocks in this sector are at risk for bankruptcy, so don't trade this sector unless you are okay with losing the money used for trading. Does the reward outweigh the risk...
Posted by Peaser on :
Opening new short positions might be the way to go in the coming weeks.
Posted by Peaser on :
We might just see a rise in this sector over the next month due to the emergency 30 day failure to deliver rule just passed down by the SEC for illegal naked shorting.
Unless the SEC enforces the failure to deliver rules such as in the past, nothing will change once this 30 day enforcement of the rules expires.
Posted by Peaser on :
ABK bullish pennant looks like it's coming to an end in a few minutes. Looks ready for another possible run from 2.35. Needs to get above 2.40. 2.47 - 50 DMA
Posted by Peaser on :
ABK pennant looks to come to a point at 11:30est or so.
Posted by Peaser on :
Hopefully 2.26 can hold up as bottom through lunch.
Posted by Peaser on :
Added at 2.22 looking for 2.35 exit after lunch.
Posted by Peaser on :
MBI is starting to look interesting again. Might wait and see if it hits 4.80 in the next few days.
Down nicely after a high open.
Kinda makes me wonder if ABK might just follow suit.
Posted by R1 Man on :
quote:Originally posted by Peaser: Added at 2.22 looking for 2.35 exit after lunch.
Good luck. Your playing with FIRE Peaser. JMO. I guess if housing wasn't the way it is and this being a stock that was valued over $82 a year ago....I would think what a deal. But that is not the case. Sure it could hit $3.00 or more, but any day they could go belly up. So, good luck to you.
Posted by Peaser on :
You're absolutely correct.
Posted by Peaser on :
Cramer mentioned last night that we hit bottom last week in the bank stocks. I think there's more downturn to the banks though.
There's still plenty more banks that will probably go under.
Posted by glassman on :
after watchin' Wachovia today? i believe anything is possible...
wachovia isn't even one of the "19" protected stocks...
Posted by Peaser on :
He only recs. 4 Bank stocks.
The only one he mentioned buying now is JP Morgan.
Posted by Bill2Drunk on :
quote:Originally posted by glassman: after watchin' Wachovia today? i believe anything is possible...
wachovia isn't even one of the "19" protected stocks...
Yeah, the market was nuts today. That stock was soo in the RED....and finished up $3.15 I think. WTH is the deal.
rumors two weeks ago were that Jamie Dimon was looking to buy them too, but now i'm just watching to see if they sell out their old "First Union" acquisition or not.....
Posted by Peaser on :
wait and see...
ABK got beat up pretty good today. Might just see a buck by Friday...
Posted by Peaser on :
LEH - stick a fork in 'um.
Who's next? WM imo...
Posted by Peaser on :
AIG "just won't make it" according to one CNBC analyst just on.
Cramer says that "it can't fail"...
Posted by glassman on :
Maria just said they need 75 billion$ ?
thats double what they were saying this morning....
Posted by Peaser on :
and with a $14 billion market cap... lol
Posted by Peaser on :
I'm wondering which might fail first.
AIG or WM?
Posted by Peaser on :
Dow down $500 Posted by R1 Man on :
quote:Originally posted by Peaser: I'm wondering which might fail first.
AIG or WM?
Thinking AIG....however Buffet was having talks with them. I think its too low to short though.
Posted by Peaser on :
Nuttn's ever to low to short, well, unless it's at .00000. lol
Posted by TimW on :
Well AIG is unshortable now..
However, once we start doing the math we see this.
" But we note AIG's 6/30/08 tangible equity of some $26 a share. Adjusting for the 79.9% stake in AIG the Fed is expected to receive under terms of its loan, tangible equity would equal about $5.23 a share. Our target price of $5.50, raised today by $0.50, assumes the shares trade at about 1X adjusted tangible equity."
Given the Government 80% takeover if AIG does not restructure and pay off that loan, the stock is worth $5.23 after the takeover.
Thats what it trades at today...
If they do pay off the loan, how high will it go again?
I think AIG is an excellent bet..
I am a little late to the party on AIG, but I tossed a few grand in today.
Posted by TimW on :
Looky that, I just lost a ton of money! LOL Stop lossed out at 4.00$/share.
I can't believe the way the market is going these days.
Posted by BooDog on :
Anyone playing the bounce on WM?
Posted by BooDog on :
quote:Originally posted by BooDog: Anyone playing the bounce on WM?
18 MM's at .01 wow
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: Anyone playing the bounce on WM?
18 MM's at .01 wow
allrighty then... guess we won't be playin the bounce. lol
Posted by glassman on :
no shorting allowed? no bounces...
Posted by BooDog on :
quote:Originally posted by glassman: no shorting allowed? no bounces...
They still gap up or down and prove nice runs on the boards. For a bit RDN and ABK were going sideways, that makes it tricky. Still, even without the shorts the last 15 minutes - half hour before close is still very interesting. Check out ABK on the last bit of the daily, double bottom at 2.80 and then poof a close at 3.06. A couple days ago it looked to close way down and then right before close it just pounces and claws its way back up. Gotta be crazy to play it but sure is making for some crazy quick swings. Watch the pre market on these puppies... http://finance.yahoo.com/q?s=ABK+ACE+AGO+AIG+ALL+ARE+AYR+AWBC+CB+CINF+CLP+CNA+CN B+DLR+EWBC+FIC+FMD+FNM+FRE+GFG+HIG+IMGN+MBI+MGI+MORN+PMI+RDN+SCA+SLM+TMA+WDR&d=t " Posted by Gary59 on :
I agree with you BooDog, I have been away for awhile and have been playing AIG and FRE for the last week for a few flips and have done OK so far,, gotta watch to see what happens this week though,, The bailout specs will be out soon and then its really gonna get crazy... Gary
Posted by Gary59 on :
Hey Boo , whats your opinion of NCC ?National City Bank is down almost a buck pre-market today and not sure what the bailout plans have in store but from what I can find on the bailout it is tarketing the credit market and banks shares for major help and thats where NCC is setting .... Do as much DD as I can pre market.... Gary
Posted by BooDog on :
Following Wachovia IMO. playin for flips with the fins is the only way I would play at the moment. Good luck. Fundamentals are out the window but I still like NCC long term.
Posted by Gary59 on :
And FRE fredie mac up .25 so far pre market ,and market edge report that came out saturday says fair market value $5.10 so it might do a little swinging today...
Posted by Gary59 on :
I'm not long on ANYTHING right now cash has been my stock lately..trying just to flip quick now.. but with only 3 trades a week gotta slow down and be careful..
Posted by BooDog on :
I'm in all cash. And not doing much trading at all since my systems can't load up live at work. If I'm home cool! flips only here also. Couple swings here and there. Keeping my practice account going just as carefully.
Posted by Gary59 on :
NCC had a high of $3.35 and it a low of $1.40 this morning already , still waiting on news to see where they go I picked up a few sh of NCC so far still down BUT might swing back up when the report comes out (I'm HOPING ) GLTA Gary
Posted by Bob Frey on :
Trying NCC * 1.65 .
Posted by Gary59 on :
You might get it now>.
Posted by Gary59 on :
Bob, did you get in?
Posted by Gary59 on :
I cant believe how steady AIG has stayed today , I wonder if something is up?The last few weeks has been swinging pretty good each morning today has stayed above the open all morning and a small high of $3.52.... Seems like something is up I still have free shares of that one so maybe let it ride a while..
Posted by Gary59 on :
Oh crap , hope you held off a little long Bob,, I got in at 2 and still kicking myself....But still hoping...
Posted by Gary59 on :
Heading back up a little just hit $1.70 from $1.25
Posted by BooDog on :
Pretty crazy eh?
Posted by BooDog on :
quote:Originally posted by BooDog: Pretty crazy eh?
NATIONAL CITY CORP SAYS HAS NO PLAN, INTENTION, OR NEED TO RAISE ADDL CAPITAL 8 minutes ago - Xinhua Financial News
Related Companies Symbol Last %Chg NCC 2.10 -43.40%
As of 10:57 AM ET 9/29/08 NATIONAL CITY CORP SAYS HAS NO PLAN, INTENTION, OR NEED TO RAISE ADDITIONAL CAPITAL, OR THE NEED TO UNDERTAKE ANY PARTICULAR TRANSACTION BECAUSE OF INSUFFICIENT CAPITAL Chuck Mikolajczak cm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
MMMM
Posted by Gary59 on :
Well that news will help today Boo Thanks I hadnt seen that one yet I was away from the computer for a while ,,,,Now with news that they dont need any funding and the report from Market Edge with a value of $3.71 now maybe it will run up to or past this mornings high..... Thanks Boo Gary
Posted by Gary59 on :
Bob Hope you got in his morning at 1.65 or lower will be a good day for you there.. Gary
Posted by BooDog on :
quote:Originally posted by Gary59: Well that news will help today Boo Thanks I hadnt seen that one yet I was away from the computer for a while ,,,,Now with news that they dont need any funding and the report from Market Edge with a value of $3.71 now maybe it will run up to or past this mornings high..... Thanks Boo Gary
Only if they have enough "believers" imo. I mentioned I like them long term but the way these fins are going... anything can happen.
Posted by Gary59 on :
More news::\
By Kejal Vyas Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Shares of National City Corp. (NCC) plunged to their all-time low early Monday as investors continued to pull money out of the regional bank on concerns over the health of the U.S. financial sector. Investors are concerned that depositors may be taking their money out of the bank as they did at Washington Mutual Inc. (WM) in the days before its failure. The stock lost more than half its market value, recently sliding $2.11, or 56%, to $1.60. Still, analysts at several Wall Street companies said the sell-off is unjustified, saying the company has sufficient capital and doesn't seem to be affected by the same degree of problems that brought down WaMu and hit Wachovia Corp. (WB). Several analysts have even upgraded the stock. "We do not feel National City is seeing a mass exodus of depositors, their loan portfolio is more diversified and better quality than WaMu's," Oppenheimer's Terry McEnvoy wrote in a research note, upgrading the stock to outperform. BMO Capital also called the sell-off unjustified, but said sentiment can become reality for the regional bank in this environment. Also, the Treasury Department's bailout plan will be critical for rebuilding confidence in National City. Andrew Marquardt of Fox-Pitt Kelton said the company, with a Tier 1 capital ratio of 11%, has the strongest capital position among its peers. Kristen Baird Adams, a company spokesperson, echoed the analysts' sentiment saying: "We believe there is extreme market volatility and a bit of irrational speculation at play." "The company is far better capitalized than WaMu and Wachovia, which will allow us to deal with the current economic situation," Baird Adams said. Additionally, "we have no plan, intention, or need to raise more capital," she added, saying that the $7 billion raised by National City earlier in the year is sufficient. Baird Adams also pointed out that National City has cut its mortgage exposure and doesn't have any option-adjustable rate mortgages. Such loans have been one of the key pillars of the banking woes, as the mortgages allow some borrowers to pay less than their full monthly interest payment, pushing up the loan's outstanding balance in the process. National City has been among the worst-hit stocks since the credit crisis and the downturn in housing market became more pronounced a year ago. The stock has declined around 94% in the last 12 months. Monday's stock move is a continuation of Friday's intra-day beating for National City when investors pulled out on concerns over whether the regional bank would become the financial sector's next victim. National City, Wachovia and WaMu all have had well-chronicled problems with mortgages. National City has been known as a commercial and mortgage lender, and, at the height of the housing boom, it attributed as much as half its profit to its mortgage and home-equity loans. National City has also been a significant lender to residential developers in Michigan, California and Florida. All three areas have been hard-hit by the housing downturn. "National City is supportive of any actions to restore confidence in the financial markets but we're not reliant on that...We already have an excess of capital," Baird Adams said, referring to the agreement by the White House and congressional leaders to authorize a $700 billion program to seize troubled mortgages and securities. -By Kejal Vyas, Dow Jones Newswires; 201-938-5460; kejal.vyas*dowjones.com (Marshall Eckblad contributed to this report.)
(END) Dow Jones Newswires 09-29-08 1120ET Copyright (c) 2008 Dow Jones & Company, Inc.
Posted by Gary59 on :
What I cant figure out is FRE is in more trouble than most and is on the rise and NCC with good news is staying down"""go figure.....
Posted by BooDog on :
deleted... can't find my dam notes!
Posted by Gary59 on :
Man is this crazy today I just got back to see the market down over 500 points and everything taking a dive...Hope it gets beter EOD.My god look at this crap.. Gary
Posted by Gary59 on :
Well just found out they DID NOT PASS the bailout plan........... What in the hell where they thinking!And now stocks are dumping that where not even bothered by the bailout plan.....Hold on to your asses people the bread line starts again....... JMHO Gary
Posted by BooDog on :
Was thinking about a potential bounce in the AM if this continues. This is just nuts. Posted by Gary59 on :
Your right BooDog after they clean up the mess a little and re-coup then it might be an up-day tommorow but , the government has already put 50 billion into the forein market to help them out for "Global Economy" and now they turn down this market so they can stand back and say I told you so ,They where going to make money on selling the sub prime loans back to differnt bidders to regain most of the money back anyway.The way the political mind works just astounds me sometime...Get ready...
Posted by Bob Frey on :
Going back In here NCC
Posted by BooDog on :
ABK showing 2.17 after closing at 2.25 grrrrr
Posted by BooDog on :
WB back to .01 lmao
Posted by BooDog on :
quote:Originally posted by BooDog: WB back to .01 lmao
Back to 1.84 lmao
Posted by glassman on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: WB back to .01 lmao
Back to 1.84 lmao
i just spoke to someone at WB...
the securities division/and the moneymarket/mutual fund is not going to citi...
Posted by BooDog on :
I'd say citi would be wise.
Posted by Rockster on :
quote:Originally posted by BooDog: Pretty crazy eh?
No kidding, I love things going down and buying.. going up.. but this is nuts.
My girl just entered the market last week and am doing her account.
I can't believe fifth third FITB has been hit so hard. They are a good bank. - in half this week.
Posted by Rockster on :
Re: NCC
The trouble at banks stems from losses in real-estate, auto and credit card lending that are worsening every day as U.S. job losses mount, inflation rises and income levels shrink amid a widening recession. Realized loan losses at banks nationwide have risen to the stunning level of 1.3% of assets so far, but analyst Whalen's research suggests we're on target for at least a 2% annualized loss rate nationwide -- which was the level in the early 1990s, when more than 800 regional banks and thrifts went under because of bad real-estate loans.
Big institutions such as National City (NCC, news, msgs), based in Cleveland, and Washington Mutual (WM, news, msgs) in Seattle are already at 3% losses, and the examples of greater-than-expected losses continue to pile up. On Tuesday, First Horizon National (FHN, news, msgs) of Tennessee announced that its write-offs would be $100 million, or 20%, larger than the $485 million loss it had previously estimated. The company blamed more-extensive loan reviews and statistical analyses for the difference, as well as deteriorating collateral values of land and lots.
Posted by BooDog on :
quote:Originally posted by Rockster: Re: NCC
The trouble at banks stems from losses in real-estate, auto and credit card lending that are worsening every day as U.S. job losses mount, inflation rises and income levels shrink amid a widening recession. Realized loan losses at banks nationwide have risen to the stunning level of 1.3% of assets so far, but analyst Whalen's research suggests we're on target for at least a 2% annualized loss rate nationwide -- which was the level in the early 1990s, when more than 800 regional banks and thrifts went under because of bad real-estate loans.
Big institutions such as National City (NCC, news, msgs), based in Cleveland, and Washington Mutual (WM, news, msgs) in Seattle are already at 3% losses, and the examples of greater-than-expected losses continue to pile up. On Tuesday, First Horizon National (FHN, news, msgs) of Tennessee announced that its write-offs would be $100 million, or 20%, larger than the $485 million loss it had previously estimated. The company blamed more-extensive loan reviews and statistical analyses for the difference, as well as deteriorating collateral values of land and lots.
We are now right where I forecasted we we would be. With no certainty of course. Who could say 100% we would be at a certain point? And failure to get this spiral under control will only make it worse. Back to the drawing board.
What I cant figure out is congress turned us down for $700 billion bailout but they have agreed to lend $620 billion in the foreign markets, here is a quote from the MSN money Page.. ""In Washington, the Federal Reserve said it would make an additional $620 billion available for future lending to nine foreign central banks."" How come we can send that money out of this country but not want to help our own,, Gary
Posted by BooDog on :
AIG early pre-market.
Posted by Gary59 on :
Morning BooDog, I just opened my screener up and saw that,, AIG 2.92 x 2.95 NCC 1.83 x 1.84 Today is going to be interesting to watch,, Any predictions anyone? Not just AIG NCC but across the board?
Posted by BooDog on :
I'm getting all my bounces except for RDN. Still out .03 on that one.
Good luck!
Posted by Gary59 on :
Look at SOV this morning,,up from a 2.33 close to 3.79 this morning,, I didnt see this one yesterday...
Posted by BooDog on :
quote:Originally posted by Gary59: Look at SOV this morning,,up from a 2.33 close to 3.79 this morning,, I didnt see this one yesterday...
I wasn't watching that one yesterday! And it was on my watch list like a week ago! sokay.
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by Gary59: Look at SOV this morning,,up from a 2.33 close to 3.79 this morning,, I didnt see this one yesterday...
I wasn't watching that one yesterday! And it was on my watch list like a week ago! sokay.
here's my list today and add WAMUQ
On my list for tomorrow. WHO KNOWS!!! DCGN .40 morning star potential but not quite a pincher yet. NURO .96 $1 boogie PSEM on the dip 10.16 QTWW 1.72 trend breaker nice white candle and going in the power zone with pincher status imo. Keep an eye on this one. RGCI .95 showing nice accumulation SOV 2.33 Dead cat bouncer?? yikes Oh yeah, don't leave out NCC and ABK, RDN for potential bounce back - watch pre-market.
Not buy recommendations, just wild picks!
Posted by Gary59 on :
Gonna be another crazy day here AIG B 3.04 x A 3.05 NCC B 1.96 X A 1.97
Posted by Gary59 on :
WAMUQ up %113 so far way to go BooDog
Posted by glassman on :
quote:Originally posted by Gary59: What I cant figure out is congress turned us down for $700 billion bailout but they have agreed to lend $620 billion in the foreign markets, here is a quote from the MSN money Page.. ""In Washington, the Federal Reserve said it would make an additional $620 billion available for future lending to nine foreign central banks."" How come we can send that money out of this country but not want to help our own,, Gary
it's a different kind of lending...
the "bailout" was to purchase assets outright, whereas the FED makes/made overnight loans against the assets in the past, they have made longer terms in the last few weeks...
Posted by BooDog on :
qtww broke its support imo, wanted it to hold above the 200 day ma. now at 1.40 LOD 1.31, need to spend more time with the charts on that one.
Posted by BooDog on :
ABK back to 2.30
RDN back to 4.78 thought there would be more of a pull back on this one.
Posted by BooDog on :
ABK end of day ping pong, what I mentioned before, watch this ping pong ball.
Okay, not as exciting today as I've seen it in the last half hour on other days. 2.15 - 2.44 settling at 2.33. Still like it. Maybe I'm too easily amused?? lol
Posted by Gary59 on :
Well I just got back a little while ago glad to see everything went good today..AIG and NCC still doing a lot of catch up after hours trading too,,maybe a little gap tommorow as well..
Posted by Gary59 on :
After hours trading on NCC 1.99 and AIG 3.44
Posted by Gary59 on :
Before hours trading AIG 3.45 x 3.46 NCC 2.26 x 2.27 Almost 2 mill shrs traded already..on NCC
Posted by Gary59 on :
AIG has hit 3.73 but NCC down to 2.13
Posted by Gary59 on :
Check this out on WAMUQ::Posted by Kim Peterson from MSNMoney: Congress wants to crack down on CEO mega-salaries for banks participating in the bailout. And while the politicians argue how best to do that, Alan Fishman of Washington Mutual is headed for the doors with $19 million in his pocket.
If that wasn't outrageous enough, consider this: Fishman started the job three weeks ago. I never saw the employment ad Fishman answered, but it must have read something like this:
WANTED: Top executive for train-wreck bank about to be seized by federal regulators. Must be able to look busy while FDIC sells business from under you. Previous experience with angry shareholders sitting on worthless stock a plus. Perks: $7.5 million hiring bonus and $11.6 million cash severance.
Fishman got the best temp gig in history. He gets to keep the bonus and severance pay, though he must stay on the job while JPMorgan Chase completes its purchase of WaMu's banking assets.
To be fair, Fishman wasn't the one that took WaMu down a path lined with toxic mortgages and other bad assets. No, that role belonged to former CEO Kerry Killinger, who received $54 million over five years before leaving earlier this month. He's eligible for around $20 million in severance pay.
Posted by Rockster on :
quote:Originally posted by Gary59: Check this out on WAMUQ::Posted by Kim Peterson from MSNMoney: Congress wants to crack down on CEO mega-salaries for banks participating in the bailout. And while the politicians argue how best to do that, Alan Fishman of Washington Mutual is headed for the doors with $19 million in his pocket.
If that wasn't outrageous enough, consider this: Fishman started the job three weeks ago. I never saw the employment ad Fishman answered, but it must have read something like this:
WANTED: Top executive for train-wreck bank about to be seized by federal regulators. Must be able to look busy while FDIC sells business from under you. Previous experience with angry shareholders sitting on worthless stock a plus. Perks: $7.5 million hiring bonus and $11.6 million cash severance.
Fishman got the best temp gig in history. He gets to keep the bonus and severance pay, though he must stay on the job while JPMorgan Chase completes its purchase of WaMu's banking assets.
To be fair, Fishman wasn't the one that took WaMu down a path lined with toxic mortgages and other bad assets. No, that role belonged to former CEO Kerry Killinger, who received $54 million over five years before leaving earlier this month. He's eligible for around $20 million in severance pay.
haha
well I have a finance background.. maybe I should apply to some banks.
Headlines. retired 31 year old makes money off failing banks.. and those down because of scared public sell off. I will take that one.
Posted by Rockster on :
Sold .105 wamuq
Posted by Gary59 on :
OK im out of AIG in at 2 out at 3.80 gonna look or a big dip today to get back in or wait and see what will happen before close today.. Still holding NCC . gotta leave the computer for a while today and dont want to take chances with all the boucing going on..
Posted by Rockster on :
buying options on NCC, ABK maybe fifth third FITB others
Posted by Rockster on :
CHECK out ABK it's taking off!!
Posted by BooDog on :
double top on ABK now but we'll see.
Posted by Rockster on :
i am tempted to sell, but it was at 80 a year ago.
maybe sell buy.. or half
Posted by BooDog on :
i BAILED ON wamuq BUT ITS STILL GOIN
Posted by BooDog on :
quote:Originally posted by BooDog: i BAILED ON wamuq BUT ITS STILL GOIN
Okay, it paused. lol
still
Posted by Gary59 on :
Im am thinking about getting out of NCC now just in case.... AIG hit 4 right after I got out but still made out ok. I averaged own on NCC the other day so Im ok there now to just don want to dump and see it fly as well...
Posted by Gary59 on :
Well Ncc sold at 2.80 while I was tpying the last message so Im back to cash mode again,,, Problem now is waiting for clear money..
Posted by BooDog on :
2.98 lol and dow almost even.
Posted by Gary59 on :
I see that now seems like I pulled the trigger too fast on both of them today,, I was looking at NCC charts thinking that 2.85 was a double top and was going to head back down a little BUT it didnt do it , my luck it will hit 3.50 today.. But at least I am back up after the last few days and made a little over the last week..
Posted by BooDog on :
i covered ncc at 2.62 lol
Posted by BooDog on :
how about that TMA Posted by Gary59 on :
Well unless I can send cash into my account in the morning I am out of settled cash until monday.. That sucks but I am not getting into anything without being able to bail quick, I would hate to get something today and have to hold until monday and watch it hit the dirt....
Posted by Rockster on :
I bought some options on AIG just in case it skys up, .. maybe it will still fall who knows lately
Posted by Rockster on :
quote:Originally posted by BooDog: how about that TMA
how did you find that. wow was at 300 last year.
Posted by Gary59 on :
Hey Boo , TMA was on your list did you have any of it?If so good job...I will have to watch it..
Posted by BooDog on :
quote:Originally posted by Gary59: Hey Boo , TMA was on your list did you have any of it?If so good job...I will have to watch it..
No, didn't have enough capital lol.
Posted by BooDog on :
quote:Originally posted by Rockster:
quote:Originally posted by BooDog: how about that TMA
how did you find that. wow was at 300 last year.
Do your DD M8. lol Certainly is a crazy market!
Posted by Gary59 on :
Well looks like another crazy day here today,,,my question is to play with unsettled funds today ,,,,,,,,or not....... AAARRRRGGG...
Posted by Rockster on :
I'm done til tomorrow.
lol everybodys out of cash sounds like the banks.
__
ANyone been following recovery estimates on the financial market bank. Playing some short term here, but what is the estimated recovery to say 2/3 of previous. ? hmm
Posted by Gary59 on :
Well I put a buy in for NCC at around 2.35 in case it comes back down,might even lower that if i see it heading down, and if I get it I only have to hold till monday to clear sales from yesterday .. I think with news from NCC that they will not need any bailout money might help keep this one sound , and it was stable around 5 buck most of last month.... Good luck to everyone with trading cash left today.
Posted by BooDog on :
ABK and RDN down pretty good end of day yesterday. See if they gap down this morning. I'll be watching pre-market.
Posted by Rockster on :
In the new bailout plan increased by 110+ Billion is the following in addition to congressional pay increases.
Tax incentives for Green energy (Solar power)
Are there any suggestions for solar?
I will start a new thread. I know they have been beaten down for the most part lately. except a few.
I will be focusing on Financial, this will be a side
Posted by BooDog on :
lol so much for my gap down, must be opposite day!
Posted by Gary59 on :
Well I have been away all day today , I am waiting to see what Monday brings I will have free cash then ,, also daytraders might drop sh prices today being friday as well as we dont know what all is in the bailout bill either..See you guys monday..GLTA
Posted by Gary59 on :
OK getting ready for monday morning,, NNC gapped down after trading friday and AIG up just a touch ,, not sure what the morning will bring anybody have any predictions about tommorow morning? NNC closed 3.51 now 3.03 AIG closed 3.86 now 3.95 ABK closed 3.27 now 3.33 RDN closed 4.29 now 4.37 TMA closed 3.24 now 3.00 SOV closed 5.84 now 5.70 Just a few that have been on watch list..
Posted by BooDog on :
quote:Originally posted by Peaser: Looking good for a daytrade right now at these levels, for today.
I locked ALL my funds up. Just watching. Don't have the capital to risk and can't day trade. Call me chicken if ya want lol.
Posted by Peaser on :
The VIX Bid Price Index is moving off the highs of the day, thus the DOW is coming off the lows for today.
Posted by BooDog on :
Just FYI for NCC 2.49
National City shares fall with broader market Monday October 6, 10:37 am ET Shares of National City tumble with broader market and after Fitch cuts bank's ratings
NEW YORK (AP) -- Shares of National City Corp. plummeted Monday morning as the broader market tumbled, and after the regional bank's ratings were cut by Fitch Ratings. National City shares fell 96 cents, or 27.4 percent, to $2.55. Shares have traded between $1.25 and $27.21 during the past year, and have lost nearly 79 percent of their value since January.
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The share decline comes amid a broad sell-off in the market as investors remained concerned that the financial crisis is spreading globally and will dampen worldwide economic growth. The Dow Jones Industrial average fell 413.77, or 4 percent, to 9911.61, dipping below 10,000 for the first time in four years.
National City also saw its issuer default ratings slashed by Fitch late Friday. The ratings agency cut National City's long-term issuer default rating by two notches to a still investment grade "BBB+" from "A." It's banking subsidiary's long-term rating was reduced one notch to "A-" from "A."
Both the holding company and banking subsidiary's individual rating were cut to "C" from "B." An individual rating of "C" represents an "adequate bank" that may have trouble with one or more parts of its operation.
Fitch said in a statement that National City could face even more losses on its mortgage and home equity portfolios amid the continue weakening in the economy. Those further potential losses are likely to hinder the bank's return to profitability.
Fitch did note National City has strong liquidity after raising $7 billion in new capital earlier this year, which should provide it with a cushion against further losses.
Like many banks, National City has been hit hard by a sharp rise in mortgage defaults since the middle of 2007. During the second quarter, National City reported a loss of $1.76 billion as it increased its provision for loan losses, more than tenfold, to $1.59 billion.
All the ratings are on a negative watch.
Posted by Rockster on :
They seem to have liquidity and obtained it before others were in need with high interest rates attached.
Many are looking at current profit and earnings. When these short term losses are over with the write offs many should become profitable.. and go up.
Posted by Gary59 on :
Well I just got back from Lauderdale and glad I cancelled some buys I put in this morning before leaving,,NCC would be down .50 more than the buy I was looking for ... Just getting into checking my watch list and looking for something to flip today... Man down another 490 points DJIA,,,, good market for picking up bottom bouncers,, but still not sure if this will be bottom yet,, And BooDog NCC at least NCC did liquidate 7 billion before all this crap started at least they saw what was going to happen,,,I wonder if the market is even going to level off before the election ??
Posted by BooDog on :
The effects of Fitch since January have been pretty mixed with the bond insurers and the banks imo. I still like RDN, ABK and NCC as well as our Bermuda SCA, but don't turn your back on them and imo playing the TA is the way to go - with an eye on the news. I'd like to see NCC stay above the $2 mark.
Posted by Gary59 on :
NCC chart looks like double bottom at 2.20 I got in at 2.25 lets see what today will bring... GLTA today..
Posted by BooDog on :
Hey BooDog,, Did I read the chart wrong thinking of a double bottom for the day? With the chart you posted from Bigcharts ,It looks like it might keep going down a little more before re-tracing..Any Opinions? Gary
Posted by Gary59 on :
Sure is a lot of buys coming in on NCC at the 2.30 mark......wonder what EOD will look like today..
Posted by Rockster on :
quote:Originally posted by Gary59: Sure is a lot of buys coming in on NCC at the 2.30 mark......wonder what EOD will look like today..
Insider Sentiment More » OBRIEN TIMOTHY purchased 30,000 shares on September 18, 2008. Over the last year insiders have on average purchased 4,500 shares.
That was perfect timing. Well inside he's saying good things
Posted by BooDog on :
quote:Originally posted by Gary59: Hey BooDog,, Did I read the chart wrong thinking of a double bottom for the day? With the chart you posted from Bigcharts ,It looks like it might keep going down a little more before re-tracing..Any Opinions? Gary
It's hanging in there better than I thought it would. Good pick on the bottom at 2.2
check this out... Another Monday mover was Hartford Financial Services Group (HIG:hartford finl svcs group inc com News, chart, profile, more Last: 31.00+3.60+13.14%
HIG 31.00, +3.60, +13.1%) , shares of which rose 12% to $30.72. The company said that it will receive a $2.5 billion capital investment from German insurance giant Allianz. Hartford faces more than $2 billion of investment losses, largely from its holdings in the financial-services sector. "We are taking decisive action to ensure that the Hartford remains well capitalized for long-term success," said Ramani Ayer, chief executive officer. Hartford also warned it's facing a loss of $8.50 to $8.80 a share in the third quarter. The performance includes net realized capital losses of $7.05 to $7.25 a share, or $2.1 billion to $2.2 billion in total, the company said. See full story. http://www.marketwatch.com/news/story/national-city-plunges-weighing-down/story. aspx?guid=%7BF91E624B%2D7069%2D4089%2D95E2%2D4EB886562CAD%7D&siteid=yhoof
maybe they'll be next eh?
Posted by Peaser on :
The Dow is continuing to plummet. Might see a -800 day. I wonder if it'll hit 5000 points in the coming months?
World markets are crashing it seems...
Posted by Gary59 on :
Well support looks like 2.25 on NCC today it keeps popping back up a little everytime it hits.2.20 to 2.25 range.. And HOLY MOLY DJIA DOWN 748 so far.....
Posted by Gary59 on :
Thanks leoforex, I signed up to the page but found no info on it where would the article be that you are refering to? Thanks And NCC looks like its going up EOD ....Now to figure out if I am getting out today with small profit since holding overnight lately has been risky......
Posted by Gary59 on :
OK Out at 2.55 which is OK because I have some free trades with Scottrade because a friend settup an account so made 10% on a crappy day....
Posted by Gary59 on :
,,, NCC after hours down 2.28 x 2.37
Posted by Gary59 on :
AIG NEWS:MIGHT GAP THIS MORNING DJ Axa CEO: Eyeing Some AIG Assets In Asia, In US - Report
.
PARIS (Dow Jones)--French insurance giant Axa SA (AXA) is considering making an offer for assets of U.S. peer American International Group Inc. (AIG) in Asia and the U.S., the company's chief executive said in an interview with French daily Le Monde Tuesday.
"We are looking at assets of AIG in Asia and the U.S. and should the opportunity arise we'll make an offer," Henri de Castries said.
AIG was recently saved by the U.S. Federal Reserve to prevent it from collapsing.
-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=SeIg8G7yNMkWwEGTEPV1HQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
October 07, 2008 05:19 ET (09:19 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.- - 05 19 AM EDT 10-07-08
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Posted by Gary59 on :
Adding to my watchlist::
DJ US HOT STOCKS:Bank of America Falls In Late Trading On 3Q Net
Among the companies whose shares showed movement in Monday's after-hours session are Bank of America Corp. (BAC), Gateway Financial Holdings Inc. (GBTS) and KKR Financial Holdings LLC (KFN).
Bank of America's third-quarter net income fell 68%. The company also cut its quarterly dividend in half and announced plans to sell common stock to raise $10 billion. Shares slid 7.4% to $29.85 in post-market trading.
Gateway Financial Holdings said it will record a noncash other-than-temporary charge of $37.4 million in the third quarter because of its holdings of Fannie Mae (FNM) and Freddie Mac (FRE) preferred securities. The company said it additionally expects to receive favorable state tax benefits that have not been determined at this time and expects to remain well-capitalized. Shares of the bank holding company rose 9.9% to $5.99 in after-hours trading.
JPMorgan cut its investment rating on KKR Financial Holdings shares to neutral from overweight saying the investment firm has limited access to capital and slim prospects to grow in the deteriorating economic environment. The stock ended the day down 23% but has recovered slightly in after-hours trading and is currently up 16% to $5.
Regular Session Movers:
Fitch Ratings cut its credit ratings on National City Corp. (NCC, $2.56, -$0.95, -27.07%) and its bank unit, saying the "near future is unlikely to offer the company any relief and may very well result in additional asset-quality problems as the economy weakens."
CombinatoRx Inc.'s (CRXX, $0.70, -$2.30, -76.67%) anti-inflammatory drug, Synavive, failed to show it was significantly better than a placebo in relieving knee pain caused when walking. Lazard Capital Markets cut its investment rating on the biopharmaceutical company's shares to hold from buy, citing the results of the study.
Dendreon Corp. (DNDN, $6.93, $1.73, 33.27%) said an interim analysis of a late-stage study shows its Provenge prostate-cancer therapy shows a 20% death-risk reduction compared with a placebo. President and Chief Executive Mitchell H. Gold said the findings, similar to those seen in prior phase 3 trials, should be finalized in mid-2009.
OSI Pharmaceuticals Inc. (OSIP, $39.31, -$6.53, -14.25%) and Genentech Inc. (DNA, $80.62, -$6.91, -7.89%) said a Phase 3 study combining OSI's Tarceva and Genentech's Avastin was no better at preventing death from a type of lung cancer than Tarceva and placebo. Avastin and Tarceva are both so-called targeted cancer drugs co-marketed by OSI and Genentech in the U.S.
Steel companies were some of the hardest-hit stocks on the day, as UBS lowered its steel-price foreceast on a global 2009 recession and the International Iron and Stell Institute said it was reevaluating its three-year outlook becuase the global economy had made its current ratings unclear. AK Steel Holding Corp. (AKS, $18.04, -$2.26, -11.13%), U.S. Steel Corp. (X, $59.62, -$3.88, -6.11%) and Nucor Corp. (NUE, $33.74, -$1.01, -2.91%) were some of the leading decliners.
Energy stocks tumbled amid a wider market swoon and another drop in the price of oil, with natural gas firm Williams Cos. (WMB, $17.69, -$1.37, -7.19%), Oil refiner Tesoro Corp. (TSO, $12.22, -$1.70, -12.21%), and oil-and-gas company Hess Corp. (HES, $72.25, $0.25, 0.35%) among the biggest losers.
Solar stocks are getting pounded as a widening credit crisis hits Europe and the industry's biggest markets, Spain and Germany. Even the long awaited solar tax credit in the U.S., passed as part of the bailout plan, hasn't buoyed the sector, as equipment makers GT Solar International (SOLR, $8.00, -$1.11, -12.18%), Trina Solar (TSL, $17.96, -$2.86, -13.74%) and SunTech Power (STP, $30.58, -$2.89, -8.63%) all fell.
AgFeed Industries Inc. (FEED, $6.26, $0.59, 10.41%) said it expects to report record third-quarter earnings and affirmed it full-year earnings guidance of $1.10 a share. The Chinese animal feed company also announced a $10 million share-buyback program and an agreement by management not to sell shares for one year.
Irish banks Allied Irish Banks PLC (AIB, $17.50, -$1.35, -7.16%) and Bank of Ireland (IRE, $20.70, -$2.96, -12.51%) plunged as support from Tuesday's government decision to guarantee all major Irish banks fell away.
Ambac Financial Group Inc. (ABK, $3.05, -$0.22, -6.73%) said it wrote down another $401.5 million in August while also making $848 million in credit-derivative payments. The write-downs from changes in fair value of credit derivatives put the struggling bond insurer's latest total for the quarter-to-date write-downs at $2.87 billion.
Citigroup Inc.'s (C, $17.41, -$0.94, -5.12%) lawsuit against Wachovia Corp. (WB, $5.78, -$0.43, -6.92%), Wells Fargo & Co. (WFC, $33.64, -$0.92, -2.66%) and their directors is seeking at least $60 billion, Citi said as it seeks redress for Wells Fargo reaching a deal to acquire struggling Wachovia. Meanwhile, a North Carolina court issued a temporary restraining order Sunday preventing Citigroup from enforcing an "exclusivity agreement" it signed with Wachovia as part of a $2.1 billion deal to buy the Carolina bank.
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=p6N7fvxBgNVlFcXE2xeYCg%3D%3D. You can use this link on the day this article is published and the following day.
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Posted by Gary59 on :
Just a hunch and strange movement on my scottrade quote screen , WAMUQ keeps popping up a .21 ask price with no trades this morning at 6 am ,,,,,I wonder if they are going to run today..Im gonna keep an eye on it ...Also same thing on SOV with an ask of 12.67....you never know what can happen..
Posted by Gary59 on :
Lot of upward gappers pre market this morning SOV ABK AIG NCC TMA
GLTA Today..
Posted by Rockster on :
I hope that sov would go to 12!
Posted by Gary59 on :
I know it was just a blip in my scottrade screen happens all the time BUT for all I know it might be a signal of some sort if not some kind of fake, like when some pennies would post a 911 trade as a signal to other MMs,, pobably just a glitch or fat finger....
Posted by Gary59 on :
WAMUQ Scottrade macd chart forcast for what its worth;;;;
Moving Average Price Compare Yesterday, WAMUQ closed above its 13 minute moving average. This is generally considered to an indication of a bullish trend.
Moving Averages No current signals
MACD The MACD for WAMUQ currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9minute moving average. Second, the MACD is above 0 which implies that the underlying moving averages are trending higher.
Stochastics The Stochastic Oscillator is registering a bullish signal as the %K line is above the %D. However, WAMUQ is neither overbought nor oversold.
Posted by Gary59 on :
SLOOOOOOWW day today got some WAMUQ at .10 a little while ago, hope it runs a little EOD if not maybe in the morning Posted by Gary59 on :
I hope the MMs let loose of WAMUQ before closing today, those guys suuuuuk
Posted by Gary59 on :
I love it when 50000 shrs bought at ask then MMs throw a 100 shares at bid for .10 a share,,Just love it.. Posted by Gary59 on :
Well as much as I hate to I am going to hold overnight , just hope they dont drive it down after hours... And looks like I am the only one around here today......
Posted by Gary59 on :
Well not sure about anyone else but everything on my watch list was down today, and the only one I bought at least I bought them at the LOD..
Posted by BooDog on :
quote:Originally posted by Gary59: Well not sure about anyone else but everything on my watch list was down today, and the only one I bought at least I bought them at the LOD..
I'm green by .01 on abk. Everything else is red. What a crazy finish.
Posted by BooDog on :
quote:Originally posted by Gary59: Well as much as I hate to I am going to hold overnight , just hope they dont drive it down after hours... And looks like I am the only one around here today......
Sorry man, last half hour was NUTS. sometimes I can get here sometimes I can't. Still playing the fins in my practice account. Not messin with my cash yet, cept for qtww that one caught my eye today. do the DD as always, looking for a $1 bouncer but who the hell knows these days.
Posted by Gary59 on :
Well you where better off not being here yesterday BooDog..nothing but down.. this morning gapping up on most on my list but only holding WAMUQ from yesterday at .10..hope it gaps like the others,I will get out quick this morning..
Posted by Gary59 on :
Hey anyone around this morning , I have a question: I know that pinks dont trade pre or post market but do they shift the bid and ask and will it show on the board pre-market? Thanks
Posted by Rockster on :
quote:Originally posted by Gary59: Hey anyone around this morning , I have a question: I know that pinks dont trade pre or post market but do they shift the bid and ask and will it show on the board pre-market? Thanks
Hey good morning.
Take a look at otc bulletin board.. do a quote and it show pre and post. I like to use it. Then others for research.
_Jermyn
Which stock?
Posted by Gary59 on :
Thanks Rockster , I was wondering about WAMUQ i got a few share yesterday at low of .10 I usually dont trade chapter 11 stocks but has really been looking good for flipping ,,Until yesterday.. I will check out otc board thanks.
Posted by Rockster on :
I posted this under wamuq a week ago. It showed late trading etc..
some reason it's not for yesterday. Unless the bid ask are not being met? flat again?
Posted by Gary59 on :
Thanks I just checked as well and shows flat....But I would have thought there would be news if they stopped trading on it today... I know one thing I will get out this morning QUICK if any signs of a upward gap,, MACD and Bollenger bands showing uptrend this morning BUT now its a pink so that usually doesnt work with pinks that often...Good luck today Rockster.. This is the only one I am holding I have been staying in cash the last few weeks because of this market acting the way it has , and just doing a few flips a week....
Posted by Rockster on :
This is the first time I have been hesitant. I'm now at a 18% cash position. (can't even sell my .0001's for more cash) I'm waiting until this afternoon.
May do a XLF put to cover some of my losses if they don't come back. Financial select sector.
Hope all works out for you. From what I have read. The only person even is the one in cash. Stock to commodities etc.. all down EVEN OIL!
I'm sure some may be up but it's not in index only in select stocks.
Good luck
Posted by Gary59 on :
Well looking at the pre-market trades again this morning all where up 30 minutes ago and now gapping down from yesterdays close...Gonna be another sh**** day today it looks like.... Hold on to your cash,, if you have any left... Just my 2 cents worth.. but maybe it will swing back around later (I Hope)
Posted by Gary59 on :
SOV is running up......
Posted by Gary59 on :
Anyone have L2s on WAMUQ ???????Please
Posted by Gary59 on :
Well I got out of WAMUQ at .11 only made 12 bucks BUT I got out without a loss,,might have pulled out early but I am getting afraid to hold anything in this market especially a chapter 11 stock...Ouch
Posted by BooDog on :
watch it finish at .18 lol
Posted by BooDog on :
NOT a buy recommendation
SCA 1.17
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On September 29, 2008, Syncora Guarantee Inc. ("Syncora Guarantee"), the financial guarantee insurance wholly-owned subsidiary of Syncora Holdings Ltd. (the "Company"), entered into an agreement (the "Agreement") with J.P. Morgan Securities Inc. ("JPMorgan") and Weil, Gotshal & Manges LLP ("WGM") pursuant to which JPMorgan will assist Syncora Guarantee in identifying and analyzing potential strategic alternatives with respect to Syncora Guarantee's portfolio of credit default swap and financial guarantee contracts (the "Contracts"), including any commutation, termination, amendment or restructuring of exposures pursuant to Section 6.12 of the Master Transaction Agreement, dated July 28, 2008, among the Company, Syncora Guarantee, Syncora Guarantee Re Ltd., XL Capital Ltd., certain affiliates of XL Capital Ltd. and certain financial institutions that are counterparties to credit default swap contracts with Syncora Guarantee.
JPMorgan will receive fees totaling US$10 million for its financial advisory services under the Agreement based on specified bench marks and may be eligible for an additional discretionary bonus of US$10 million, payable in the sole discretion of Syncora Guarantee, upon consummation of a restructuring with any of certain specified counterparties.
Posted by BooDog on :
Ben Stein How Not to Ruin Your Life
How to Ruin the U.S. Economy by Ben Stein
Email this Page IM this StoryBookmark this StoryAdd to your Del.icio.us accountDigg this StoryPrint this Story Excellent (2221 Ratings) 4.109848/5
Posted on Monday, October 6, 2008, 12:00AM 1) Have a fiscal policy that creates immense deficits in good times and bad, burdening America's posterity with staggering burdens of repaying the debt. 2) Eliminate regulation of Wall Street and/or fail to enforce the regulations that already exist, instead trusting Wall Street and other money managers and speculators to manage other people's money with few or no regulations and little oversight.
3) Have an energy policy that disallows producing our own energy and instead requires that we buy energy from abroad, thus making our oil prices highly volatile and creating large balance of payments deficits, lowering the value of the dollar and thus making the problem get progressively worse.
4) Have Congress mandate that banks and other financial entities lend money to persons they know in advance to have poor credit ratings or none at all.
5) Allow investment banks, insurers, and banks to bet their entire net worth and then some on the premise that borrowers known to be improvident will in fact repay those loans.
6) Allow the creation of large betting pools called "hedge funds" that can move markets and control the outcome of trading, thus taking a forum for savings and retirement for families and making it into a rigged casino game that exists primarily to fleece suckers like ordinary working men and women.
7) Have laws that protect corporate officers from being sued for misconduct but at the same time punish lawyers in the private sector who ferret out such misconduct and try to make accountable the people responsible for shareholder and investor losses. If one of those lawyers gets particularly aggressive in protecting stockholders, put him in prison.
8) Appoint as head of the United States Treasury Department a man whose whole life was spent on Wall Street, who became fantastically rich through his peddling of junk bonds at his firm while the firm later sold short those same sorts of bonds.
9) Scare Americans into putting up $750 billion of their hard earned money to bail out the billionaires and their friends who created the market for loans to poor credit risks (The "subprime" market) and the unbelievably large side bets on those loans, promising that such a bailout would save the retirement savings of Americans, then allow the immense hedge funds to make the market crater immediately afterwards.
10) Propose to save the situation by surtaxing the oil industry, which is owned by our fellow Americans, mostly in their retirement plans, thus penalizing Americans for investing in companies that efficiently and legally produce an indispensable product.
11) Insist that the free market requires that banks and insurers with friends of the Secretary of the Treasury be saved but allow other entities not so fortunate to fail, thus creating total uncertainty and terror among financial institutions, and demolishing all of the confidence built up in financial circles since the days of FDR.
12) Then have the Republican candidate say he would keep on the job the Treasury Secretary who facilitated the crisis, failed to protect the nation from the crisis, got the taxpayers to pony up to save his Wall Street buddies, and have the Democratic candidate, as noted, say he would save the day by taxing the stockholders of energy companies.
There, that should do it.
Posted by Gary59 on :
quote:Originally posted by BooDog: watch it finish at .18 lol
Thats been my luck latley BooDog, good to see you make it back today before closing.. Im back to all cash looking for 1 flip left for the week and will have a few clear bucks tommorow too..So throw something out there for me BooDog especially a %300 sure thing Posted by BooDog on :
quote:Originally posted by Gary59:
quote:Originally posted by BooDog: watch it finish at .18 lol
Thats been my luck latley BooDog, good to see you make it back today before closing.. Im back to all cash looking for 1 flip left for the week and will have a few clear bucks tommorow too..So throw something out there for me BooDog especially a %300 sure thing
lets see.... howa bout nothing that I'm in. lol freeking fins turned on me at close again right after I got done calibrating my standings. Grrrrr!
Thats my practice account. Still all cash on my main account and thanks to scottrade I missed out on DCGN for some of that bounce action. Not recommending it - was just looking for a flip.
Posted by Gary59 on :
BooDog, did you have TMA ? it shot up to 3.30 and ended 2.97...I had been watching just didnt get it , I did get some NCC today before close so hope it gaps UP in the morning,, news out on NCC lowering rates and sposoring a sports event (I forgot who already) Part of getting old..
Posted by BooDog on :
quote:Originally posted by Gary59: BooDog, did you have TMA ? it shot up to 3.30 and ended 2.97...I had been watching just didnt get it , I did get some NCC today before close so hope it gaps UP in the morning,, news out on NCC lowering rates and sposoring a sports event (I forgot who already) Part of getting old..
I forgot all about TMA. I do still like NCC. The way the market is now who knows what will happen.
Posted by Rockster on :
Hey thanks for the reminder.. another financial I can lose MONEY in.
Posted by BooDog on :
quote:Originally posted by Rockster: Hey thanks for the reminder.. another financial I can lose MONEY in.
There are certainly plenty of them out there.
U.S. Stocks Drop as Recession Concern Outweighs Rate Reductions
By Lynn Thomasson
Oct. 8 (Bloomberg) -- U.S. stocks fell for a sixth day after Treasury Secretary Henry Paulson said more banks may collapse and unprecedented global interest-rate cuts failed to convince investors the economy will avoid a recession.
Bank of America Corp. slumped 7 percent after selling shares at a discount to shore up capital. Alcoa Inc., the largest U.S. aluminum producer, slid 12 percent as a reduction in manufacturing caused by the credit crisis left the company with earnings that trailed analyst estimates. Russia, Indonesia, Ukraine and Romania shut their exchanges and Brazil's benchmark index fell to the lowest level in two years in the worst week for emerging markets in at least two decades.
``The uncomfortable reality is that this mess is going to take more time than anyone wants to come to grips with,'' said Matthew Kaufler, a fund manager at Rochester, New York-based Clover Capital Management Inc., which oversees $2.6 billion. ``For the first time in couple of decades, we have the prospect of a consumer recession.''
The S&P 500 swung between gains and losses at least 20 times today, ending down 11.29 points, or 1.1 percent, at 984.94, its lowest since August 2003. The Dow Jones Industrial Average tumbled 189.01, or 2 percent, to 9,258.1. The Nasdaq Composite Index decreased 0.8 percent to 1,740.33. Five stocks fell for every two that rose on the New York Stock Exchange.
The S&P 500's six-day losing streak is its longest since 2002. Its year-to-date slump of 32.9 percent is the worst since 1974 and its second-biggest drop ever compared with previous returns through Oct. 8, according to Harrison, New York-based research firm Bespoke Investment Group LLC.
Option Prices Jump
The Chicago Board Options Exchange's Volatility Index climbed 7.2 percent to a record 57.53. Stocks swung throughout the day, with the Dow twice falling more than 200 points before recoveries lifted it above 9,600. The 30-stock average tumbled 341 points in the last half hour of trading, erasing its second 150-point surge of the afternoon.
U.S. bonds fell after the government sold $66 billion in debt to ease ``severe dislocations'' prompted by shortages of government securities.
European stocks retreated, sending the Dow Jones Stoxx 600 Index to its worst three-day drop since October 1987. The dollar weakened against the euro.
Bank of America dropped 7 percent to $22.10. The bank that's buying Merrill Lynch & Co. sold 455 million shares for $22 each, 8 percent less than yesterday's closing price of $23.77. The shares fell 26 percent in New York Stock Exchange composite trading Oct. 7, the biggest drop in at least 28 years, after the bank slashed its dividend in half to shore up capital.
Alcoa Slumps
Alcoa fell $2 to $14.71 for the steepest decline in the Dow. The aluminum producer's third-quarter profit fell by more than half and the company cut its forecast for demand growth because of the slumping economy. Alcoa also suspended a share-repurchase program because of the worsening credit crisis.
Stocks rose in early trading after the world's largest central banks cut borrowing costs in a coordinated effort after the credit crunch spread from the U.S., pushing up lending costs and forcing governments in Europe and the U.S. to bail out banks.
The Federal Reserve reduced its benchmark interest rate by 0.5 percentage point to 1.5 percent this morning. The European Central Bank lowered its key lending rate by half a point to 3.75 percent and said it will start lending banks unlimited cash in its weekly auctions at the new benchmark.
The Fed will probably cut its target for overnight lending between banks by another half percentage point at its Oct. 29 meeting, Goldman Sachs Group Inc. chief economist Jim O'Neil said. ECB President Jean-Claude Trichet said he can't rule out further reductions.
`More Symbolic Than Anything'
``It's more symbolic than anything else,'' Peter Sorrentino, a money manager at Huntington Asset Advisors in Cincinnati, which oversees $16.5 billion, said of today's rate cuts. ``It's the availability of credit, not the price of credit that's the problem.''
The S&P 500 Financials Index climbed as much as 3.9 percent today before resuming its slide after Treasury Secretary Paulson said some banks may fail even after Congress passed a $700 billion package to shore up financial firms. He said U.S. policy makers are prepared to do more if necessary to stem the worst financial crisis since the Great Depression.
``Patience is also needed because the turmoil will not end quickly and significant challenges remain ahead,'' Paulson said at a press conference in Washington. ``Neither passage of this new law nor the implementation of these initiatives will bring an immediate end to current difficulties.''
MetLife Plunges
MetLife Inc. plunged 27 percent to $27 for the second- steepest drop among S&P 500 companies. The biggest U.S. insurer said it will raise capital and cut jobs after third-quarter profit slid 48 percent.
The 84-company S&P 500 Financials Index ended down 3 percent at its lowest level since April 1997. The world's major banks may need $675 billion in fresh capital over the next several years to recover from a credit crisis that shows few signs of abating, the International Monetary Fund said yesterday.
A group of retailers in the S&P 500 slipped 0.9 percent. J.C. Penney Co., Kohl's Corp. and Nordstrom Inc. forecast third- quarter profit that may trail analysts' estimates after September sales fell because of consumer concerns that the Wall Street meltdown will cost them their jobs and savings.
J.C. Penney lost 4.6 percent to $27.25, the lowest since 2004. Nordstrom slid 1.5 percent to $21.57.
`Only Halfway Through'
``The big concern is that we're going into recession,'' said Jeffrey de Graaf, a senior managing director at ISI Group Inc. in New York. ``The first part is the unwind of the previous boom, the second is the recession that follows. We're in the camp that we're only halfway through this.''
Monsanto Co., the world's largest seed producer, climbed 9.8 percent to $81.44 and pushed the S&P 500 Materials Index up 2.6 percent for the biggest gain among 10 industries. Chief Financial Officer Terry Crews said farmers haven't been affected by the global credit crisis and predicted higher profit next year on rising sales of weedkiller and gene-modified seeds.
Bank of New York Mellon Corp. gained 7.9 percent to $24.45. The world's largest custodian of financial assets agreed to buy JPMorgan Trust Bank Ltd. in Japan following the bank's deal to purchase JPMorgan Chase & Co.'s global corporate trust business in 2006.
Bank of America and Alcoa this week kicked off an earnings season that is expected to mark the fifth straight quarter of declining profits for S&P 500 companies. Earnings at S&P 500 companies probably dropped on average of 5.6 percent in the third quarter, according to analysts' estimates compiled by Bloomberg.
Profits Decline
Financial companies are forecast to lead the decline in profits with a 64 percent decrease, followed by an 11 percent slide in earnings at retailers, hoteliers, restaurant chains and other so-called consumer discretionary companies.
The S&P 500's 37 percent drop from its record a year ago has left it valued at less than 19 times the reported earnings of its companies. Europe's Dow Jones Stoxx 600 Index, which has lost 38 percent this year, was valued at 9.5 times the reported earnings of its companies, the cheapest since Bloomberg began compiling the data in January 2002. The MSCI World Index was valued at 12 times profit yesterday, the cheapest since at least 1995.
Investors are fleeing emerging markets on concern decreased credit availability and slower economic growth will push commodity prices lower, crippling the driver of developing economies. The benchmark MSCI Emerging Markets Index slumped 7.4 percent today and is down 22 percent over the past six days.
Ukraine's exchange was closed for the day before trading began, and Romania suspended its main bourse after a 9.5 percent slide. Russia's Micex Index dropped 14 percent before trading was halted, having already slumped 20 percent this week. Indonesia's suspension, the first in eight years, followed a 10 percent slide in the Jakarta Composite Index, the biggest decline since the 1998 Asian financial crisis. Brazil's Bovespa index slumped for a fifth day.
To contact the reporter for this story: Lynn Thomasson in New York at lthomasson*bloomberg.net.
Last Updated: October 8, 2008 17:04 EDT
Posted by BooDog on :
Picking a bottom here with the volatility we are up against is anyone’s guess imo. The VIX below shows just how crazy things are, but at the same time the volume levels are not spiking as though we would see attempts to consolidate. That imo would be a good sign. Patience imo would be prudent until the panic can get under control.
Posted by Gary59 on :
Looks like some gappers this morning same lists AIG NCC ABK TMA SOV
Good luck all ,,,we are going to need it,,man its crazy here...
Soup line starts here.. Posted by Gary59 on :
Pre-Market buys coming in at 2.90 this morning on NCC.....closed at 2.23 yesterday...
Posted by Gary59 on :
MMs must be settling shares ,, prices getting back down to 2.70 to 2.85 range now,, 5000 shrs weht at 2.93 a few minutes ago..Almost 200k shares already traded.........something going on me thinks..
Posted by BooDog on :
AIG 3.34 thinkin this will tank but we'll see. I have no position in it. (cept my practice account lol)
AIG to Receive $37.8 Billion More in Loans From Fed
American International Group could get nearly $38 billion in fresh cash under a program announced by the Federal Reserve in addition to the $85 billion government loan it got last month.
Under the new plan, the Federal Reserve Bank of New York will take up to $37.8 billion in investment-grade, fixed-income securities from AIG in exchange for cash. Aig Headquarters
The securities were previously lent by AIG's [AIG 3.19 -0.32 (-9.12%) ] insurance company subsidiaries to third parties.
The Fed said the new program will allow the company to replenish liquidity used in settling transactions with counterparties.
On the brink of failure last month, AIG was bailed out when the government offered it an $85 billion loan during the ongoing credit crisis that saw Lehman Brothers Holdings file for bankruptcy protection and the sale of Merrill Lynch to Bank of America.
In return for the two-year loan, the government received warrants to purchase up to 79.9 percent of AIG.
As of Sept. 30, AIG had drawn $61 billion on the credit facility, of which about $54 billion has gone toward its securities lending and AIG's financial products area.
The rest of the money has been for other liquidity needs amid an "unprecedented" freezing of credit markets, Chief Executive Edward Liddy said last week.
Posted by Gary59 on :
Morning BooDog, Im not in AIG now did flip a few times within the last few weeks for small gains,, In this market I have be in and out happy with 50 -100 bucks , NOTHING LONG...Good luck today if you are around to trade today...
Posted by Gary59 on :
News on NCC::
NATIONAL CITY SHARES JUMP 29.6 PCT $2.89 BEFORE THE BELL AFTER WSJ REPORTS BANK IN SALE TALKS Chuck Mikolajczak cm
This is all the news I can find ,, I am not sure what sale they are talking about unless it is the condo sale that went through on the 9th,, Almost 900k shares traded already and its almost an hour before market opening.
Posted by Gary59 on :
Keep an eye out for CBB cincinati bell ...found this one yesterday...not sure what it will do today, but up in pre market...
Posted by Gary59 on :
Posted by Gary59 on :
OK , Im out of NCC got in yesterday at 2.25 out today 2.60 ,, might run but not taking any chances....... GLTA that was all of my flips this week... so trading done for the week for me..... What a relief.... Posted by BooDog on :
mbi / abk lawsuits
Posted by BooDog on :
quote:Originally posted by BooDog: mbi / abk lawsuits
The suit further alleges that the five top bond insurance companies conspired with credit agencies to charge cities higher premiums. The five companies are: Ambac Financial Group Inc., MBIA Inc., XL Capital Assurance Inc., Financial Guaranty Insurance Co., CIFG Assurance North America, Inc.
Posted by BooDog on :
too bad no shorting eh?
Posted by Gary59 on :
Her's the news for NCC, I just noticed it from another thread that invester started::::
DOW JONES NEWSWIRES
National City Corp. (NCC) rallied amid a fresh report that the regional bank, which has been crippled by bad real-estate loans, is in talks for a possible sale. Shares were recently up 12% to $2.50 in early trading, half the gains seen in premarket trading. Other regional banks also rallied ahead in the early going but also weakened as composite trading began, with some even going into the red. Fifth Third Bancorp (FITB, SunTrust Banks Inc. (STI) and Regions Financial Corp. (RF) were all recently down 10% to 12%. National City's gain comes after weeks of investors rapidly fleeing it. It's down nearly two-thirds the past three weeks as investors have eyed National City as a next potential victim of the nation's widening financial crisis. But the company has maintained that the selloff is unjustified. The banks said to be in takeover talks with National City - PNC Financial Services Group Inc. (PNC) and Canada's Bank of Nova Scotia (BNS) - already looked at National City last spring but decided then not to make an offer. Instead, National City got a $7 billion capital injection. The Wall Street Journal, citing people familiar with the situation, said National City is on the block again, which underscores the precarious position of regional banks that have been unable to regain their footing despite help from outside investors. Analysts say National City, which has more than 1,400 branches in nine states, has more than enough capital to handle the mortgages on its books. The company has maintained the same thing. Yet the fact that the bank has been hobbled by bank loans has led investors to draw connections between it and other banks that have recently failed or agreed to sales to larger companies. For years, National City was a conservative commercial lender until it made a nationwide push into writing subprime and home-equity loans, many through a subsidiary that it subsequently sold to Merrill Lynch & Co. (MER). The subprime-mortgage crisis took its toll on National City, which reported four-straight quarters of losses totalling more than $2 billion. -By Donna Kardos, Dow Jones Newswires; 201-938-5963; donna.kardos*dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=VRD32MtgWpTbaoQgILdS%2Fg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires 10-09-08 1013ET Copyright (c) 2008 Dow Jones & Company, Inc.
Posted by Gary59 on :
Oh and also on the other thread that invester started in the .11 and up thread he thinks it (NCC)will go up to $7.00 to $10.00....
Posted by BooDog on :
quote:Originally posted by BooDog: too bad no shorting eh?
didn't see the news. Thought it was extended.
Posted by Gary59 on :
Another repeat of the last few days dow took a dump,,and we took a screwin...glad I was in cash today..Then no market on monday so my trade settling dates got knocked back to weds now so ,, I just get to watch until next week.... And I might be better off just watching the way the week has gone..
Posted by leatherssonny on :
Im in NCC at 2.48 Should I hold on to this or sell in your guys opinion? Is this something I should wait and see about? What happens if the company is bought?
Posted by Gary59 on :
I cant give any predictions on that one leatherssonny, sorry, I have just been flipping every chance I get,even if I make 12 bucks i'm out because this market has been so unpredictible the last few weeks . Most people have stayed in cash all week and not taken any chances.It did look like it gapped up after trading today so it might run up a little in the morning but no guarantees on that ..Today for instance it hit 2.83 pre market then a steady decline most of the day with little changes..So good luck tommorrow..Check in the above .11 thread and see if invester has given any advise on what he will be doing,but this is a bad time to predict anything...
Posted by Rockster on :
I like NCC, they have a good cash reserve. Should recover. Short term may go down. Any financial stock is at risk.
You need to research...
This is not a market based on only financials EPS etc. It's very emotional times
Posted by stocktrader22 on :
LMAO NCC is going to .50
Timeline for the Epic Lehman CDS Auction Tomorrow
Here is (according to Reuters) the timeline for what will be an epic CDS auction tomorrow related to the Lehman bankruptcy. There are huge losses to go around, confusion about counter-parties, and I expect a host of releases tomorrow afternoon as people disclose their newfound liabilities.
9:45 a.m.-10 a.m. Auction participants will submit bids and offers for the debt backing the credit default swaps, which will be used to determine the initial recovery rate of the swaps.
10:30 a.m. Auction administrators Creditex and Markit will publish the initial recovery price and the open interest for the contracts will be published. The open interest reflects the amount of bids and offers that have been made, and will show if there are more buyers than sellers, or vice versa.
12:45 p.m. -1 p.m. Participating dealers will submit limit orders for the debt on behalf of themselves and their clients to fill the open interest
2 p.m. The final price of the auction will be published.
Most people expect prices in the 12-to-13 cents on the dollar, leading to payouts in the $400-billion range.
Comments (4) Sort by: Date Rating Last Activity Thread active 2 hours agoCollapse thread
Paul Kedrosky•76p The Freddie/Fannie auction was this past Monday, and it went relatively cleanly, with high recovery rates on the debt, and only one lawsuit that I've seen. Lehman is a different issue altogether.
POST REPLY» 2 hours ago Thread active 1 hour agoCollapse thread 0 Ted Murphy So they are selling 3.2T in Credit Default Swaps, representing 5.8% of a 55T global market in CDS. They are expecting to take a 87.5% hit, recouping $400B and losing 2.8T. This translates into further losses of $48.1T on the rest of the $55T. It seems so awful that it can't be true.
POST REPLY» 7 hours ago +1 khyron4eva•22p Maybe this is stupid question and oversimplification, but I have to wonder why CDS contracts aren't simply being unwound? Now, we're all familiar with the backlog in these things that NYFED (and Geithner in particular) was was working to clear out -- paper records, bad novation records, etc. All that good stuff from 2005. So the question is, how accurate is $62T notional at this point in time. How many of those contracts are being unwound daily? Probably not huge (or even statistically significant) amounts, admittedly, but I have to imagine some players are just getting out, if they can.
That said, you don't just unwind $50T+ of CDS contracts in a month, especially on a bankrupt reference entity.
Just thinking aloud.
The losses expected from this auction will absolutely wreck many banks tomorrow...some don't even know it yet, but they're dead men walking...
Posted by BooDog on :
quote:Originally posted by stocktrader22: LMAO NCC is going to .50
Timeline for the Epic Lehman CDS Auction Tomorrow
Here is (according to Reuters) the timeline for what will be an epic CDS auction tomorrow related to the Lehman bankruptcy. There are huge losses to go around, confusion about counter-parties, and I expect a host of releases tomorrow afternoon as people disclose their newfound liabilities.
9:45 a.m.-10 a.m. Auction participants will submit bids and offers for the debt backing the credit default swaps, which will be used to determine the initial recovery rate of the swaps.
10:30 a.m. Auction administrators Creditex and Markit will publish the initial recovery price and the open interest for the contracts will be published. The open interest reflects the amount of bids and offers that have been made, and will show if there are more buyers than sellers, or vice versa.
12:45 p.m. -1 p.m. Participating dealers will submit limit orders for the debt on behalf of themselves and their clients to fill the open interest
2 p.m. The final price of the auction will be published.
Most people expect prices in the 12-to-13 cents on the dollar, leading to payouts in the $400-billion range.
Comments (4) Sort by: Date Rating Last Activity Thread active 2 hours agoCollapse thread
Paul Kedrosky•76p The Freddie/Fannie auction was this past Monday, and it went relatively cleanly, with high recovery rates on the debt, and only one lawsuit that I've seen. Lehman is a different issue altogether.
POST REPLY» 2 hours ago Thread active 1 hour agoCollapse thread 0 Ted Murphy So they are selling 3.2T in Credit Default Swaps, representing 5.8% of a 55T global market in CDS. They are expecting to take a 87.5% hit, recouping $400B and losing 2.8T. This translates into further losses of $48.1T on the rest of the $55T. It seems so awful that it can't be true.
POST REPLY» 7 hours ago +1 khyron4eva•22p Maybe this is stupid question and oversimplification, but I have to wonder why CDS contracts aren't simply being unwound? Now, we're all familiar with the backlog in these things that NYFED (and Geithner in particular) was was working to clear out -- paper records, bad novation records, etc. All that good stuff from 2005. So the question is, how accurate is $62T notional at this point in time. How many of those contracts are being unwound daily? Probably not huge (or even statistically significant) amounts, admittedly, but I have to imagine some players are just getting out, if they can.
That said, you don't just unwind $50T+ of CDS contracts in a month, especially on a bankrupt reference entity.
Just thinking aloud.
The losses expected from this auction will absolutely wreck many banks tomorrow...some don't even know it yet, but they're dead men walking...
No way. I don't believe you! This is a bull **** market!
LOL
to all of us
Posted by Gary59 on :
Has anyone found any news on the auction that was supposed to happen today for lehman?I have been searching all of my sources and have not seen anything..According to that report we should have seen it at 2 today..
Posted by Gary59 on :
I am thinking (or Hoping) that NCC will stay up there, and even considering buying more today if it dips back to LOD ,even though I will have to hold until next weds for money to clear.....I might be wrong (which is about 99.9% of the time but It does seem better than most fins out there) Just my opinion ,
Posted by BooDog on :
NCC hitin 2.72
Posted by BooDog on :
quote:Originally posted by BooDog: NCC hitin 2.72
goin down
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: NCC hitin 2.72
goin down
lod 2.62 see if it holds
Posted by BooDog on :
ABK heading back down also
Posted by Gary59 on :
Hey BooDog good to see you here this afternoon,, everything has been knda flat today, and Im a little leary of what to hop into..NCC has been sloowley heading back down the last few trading days , dont know where thats going ,,ABK has been knida flat as well , my watch list has been back and forth,, I am keeping a little too safe in this market the way it has been acting you never know what is happening..
Posted by BooDog on :
Can we say that Paulson and Friends will ensure these will stay volatile trough next year? imo no doubt. I took some 2.68 ncc abk hangin sideways
Posted by BooDog on :
As much as $20 billion of the federal bailout plan for the financial industry should be put aside for bond insurers, New York State Insurance Superintendent Eric Dinallo said. Could see ABK back down under $2 easily imo. trick tricky trick. my guess, so it may go up with news of relief.
Posted by BooDog on :
NCC back to 2.94 shaky as a Shaky's pizza!
Posted by Gary59 on :
It has been a sideways market today on my watch list.And most of it is down ,,lucky I only have F and a few WAMUQ to today got wamuq at .071 earlier..Maybe make 50 bucks on it this week if it hits back to .09.. Trying to keep my head above water , just dont have the funds yet to get the higher priced swingers yet..
Posted by Gary59 on :
As crazy as NCC has been it might close at 3 again today...
Posted by Gary59 on :
Did you see what RIMM did today ?hit a low of 52.90 and high 59.81 almost 7 dollar swing today..
Posted by BooDog on :
I didn't see RIMM at all. My concentration span is a little short today lol. Dam fall colds!
Posted by Peaser on :
Looks like a rally BACK to opn prices ,,,maybe tommorow will be a little better,,wel really I cant say that a LOT of stocks bouced today jus dont have the balls and money to flip..
Posted by Gary59 on :
TMA closed up 1.05 HOD ,that was on my list , just didnt buy it Posted by BooDog on :
Here's the NCC 1 minute chart. nice bounce today. Posted by Gary59 on :
Well a lot of stocks trading down pre-market this morning , NNC down .23 so far ,, and it seems like when trading starts down pre-morning we have a more active day ,,so I will be here all day I think...not sure what to get in I will probably flip NCC and may get out of F if it moves a little..
Posted by Gary59 on :
Who has any opionins about WAMUQ? I just checked the options list and the lowest call option is at 3.00 and lowest put is at 2.99...I dont do options and I dont really know how to trade options but can the option list be some kind of indicator about where it is expected to go? Or did people that have the options at that price before it dropped just stuck with them?
Posted by BooDog on :
wish I could watch it live gary. Could get real interesting today for wamuq. Still wouldn't hold it over night. I won't be playin it at all today since I'm not home. ABK taking a nice dip
Posted by Gary59 on :
Morning Boo, something strange happening with WAMUQ this morning , trades have been going through pre-market , one trade went through for 317500 shares at .15 this morning.......... Might keep an eye on it today boo, It could just be the MMs setteling shares between themselves BUT seems a little strange unles that is what they want us to think as well, as you know those MMs are a sh**ty bunch sometimes.. Posted by Gary59 on :
And just noticed something else , my ticker shows that they closed yesterday at .165 but my account shows they closed at .052??? Something fishy is going on here today.. Too bad you cant watch it today Boo..Might be fun to watch,,I still have a little that I picked up last week..
Posted by BooDog on :
I was looking for abk to at least dip to 2.8 or lower after the open, we'll see. Back to 2.9 now.
Posted by Gary59 on :
I have been watching ABK and I think i will get some if it get back to 2.50 , it has been a good one to flip the last few weeks..
Posted by Rockster on :
quote:Originally posted by Gary59: Who has any opionins about WAMUQ? I just checked the options list and the lowest call option is at 3.00 and lowest put is at 2.99...I dont do options and I dont really know how to trade options but can the option list be some kind of indicator about where it is expected to go? Or did people that have the options at that price before it dropped just stuck with them?
Just to show you..
3.00 is the strike price. (right to buy=call, right to sell=put.)
put options are going for 2.99 saying the stock is pretty much worthless... little no trading here.
call options are going for .02
The stock would have to go to 3.00 before they have any value. Hence the low price. It would be a .02 bet that the stock would go over 3.00 and you would lose all the up from the current .06
-j
Posted by Gary59 on :
Thanks for the info Rockster , I was wondering if that had anything to do with what the shares will be doing....Thanks again.....
Posted by Rockster on :
Will it sort of indicates that it will go to 0.
the only thing worse than a .02 is a .01 (in options) so there is no real hope of it going too high.
Posted by BooDog on :
one of my watch lists from a couple months ago MBI $8.16 -0.63 ABK $2.86 -0.13 SCA $0.91 -0.07 FBR $0.58 -0.01 UVE $2.80 0.00 SUAI $3.95 0.28 NAHC $0.00 0.00 GAN $2.20 -0.19 FAC $2.97 -0.03 AFFM $1.46 0.00 XL $9.31 -0.75 ACAH $0.09 0.00 RBS $1.16 -0.11 ramr $0.77 -0.07 ago $11.38 -0.26 PMI $2.28 -0.09 rdn $3.69 -0.04 TGIC $1.1801 -0.07
Posted by BooDog on :
RDN (3.49) on the dip, fairly low volume imo. keeping it on radar.
Posted by BooDog on :
Quotes delayed, except where indicated otherwise. For consolidated real-time quotes (incl. pre/post market data), sign up for a free trial of Real-time Quotes. 1d5d3m6m1y2y5ymax customize chart
Add ABK to Your Portfolio Set Alert for ABK Download Data Add Quotes to Your Web Site
Posted by BooDog on :
RDN on the dip 2.74 double bottom.... could be quicksand, just as I'm typing down more to 2.73 bad days for abk, rdn and such. Unless you were on the short side!
Posted by BooDog on :
dagone triple bottom on NCC kreepers
gap to fill down at 2.35 imo.
Posted by BooDog on :
SCA back to .71 wouldn't mind seein that one below .50 again
Posted by BooDog on :
Add MTG to the list 2.7
Posted by BooDog on :
Just when you think the dow has had it and is ready to recover swooosh - someone pulls the plug. Thought for sure it was ready to turn for the day.
Posted by BooDog on :
quote:Originally posted by BooDog: Add MTG to the list 2.7
MTG 2.8 Dipped since they wont divy out.
Posted by BooDog on :
quote:Originally posted by BooDog: Just when you think the dow has had it and is ready to recover swooosh - someone pulls the plug. Thought for sure it was ready to turn for the day.
lmao. the ole bear bull switch trick. 200 some point swings in minutes. roll baby roll!
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: Add MTG to the list 2.7
MTG 2.8 Dipped since they wont divy out.
showing head and shoulder with the hit on 2.93 (now at 2.85) - decision time imo
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: Add MTG to the list 2.7
MTG 2.8 Dipped since they wont divy out.
showing head and shoulder with the hit on 2.93 (now at 2.85) - decision time imo
looking for support again at 2.65 - 2.69
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: Add MTG to the list 2.7
MTG 2.8 Dipped since they wont divy out.
showing head and shoulder with the hit on 2.93 (now at 2.85) - decision time imo
looking for support again at 2.65 - 2.69
2.61 is bottom support it touched again. double bottom. Breaks that it could dip very quickly imo.
Posted by BooDog on :
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog:
quote:Originally posted by BooDog: Add MTG to the list 2.7
MTG 2.8 Dipped since they wont divy out.
showing head and shoulder with the hit on 2.93 (now at 2.85) - decision time imo
looking for support again at 2.65 - 2.69
2.61 is bottom support it touched again. double bottom. Breaks that it could dip very quickly imo.
cup and handle, last 10 minutes whatchya got?
Posted by BooDog on :
okay, closed 2.75. on radar for the am.
Posted by BooDog on :
ncc nice late day bounce back 2.75
Posted by BooDog on :
Here's something to check out. nice overall look.
Posted by BooDog on :
NCC 2.00 lod 1.75
Posted by BooDog on :
I CAN'T BELIEVE A DAY LIKE THIS AND I'M (OF ALL PEOPLE) THE ONLY ONE HERE
Posted by BooDog on :
AIG 1.85 CNO ON THE DIP 1.79 F 1.90 QTWW .68 PPC 2.41 ABK 2.04
Posted by BooDog on :
Well, NCC should be done, prolly won't see over 2.24 again unless they change the buy out.
Posted by Gary59 on :
I think your right BooDog NCC sellout price 2.23 the .03 per share of the buyout company (forgot PNC I think) so 2.23 will be high..
Posted by Gary59 on :
And I am not sure what to do about AIG so many things in the works withthem that it might be back down to 1.25 or back up to 5 but has been flat in the last week..
Posted by BooDog on :
checking out SIRI looks like they have a RS coming Among the Nasdaq's new penny stocks, satellite radio company Sirius XM Radio Inc (NasdaqGS:SIRI - News) said it is considering a reverse stock split, which would double its share price while halving the number of shares. there it is, on the reverse thread SIRI a ratio of not less than 1:10 and not more than 1:50 Reverse Split pending Source: PRE 14A filed on 10/16/08 see link below...
![[Eek!]](eek.gif)
![[BadOne]](graemlins/headbash.gif)
![[Cool]](cool.gif)
![[Were Up]](graemlins/wereup.gif)
![[Wall Bang]](graemlins/wallbang.gif)
![[More Crap]](graemlins/morecrap.png)
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![[Good Luck]](graemlins/goodluck.gif)
