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 "
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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...
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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..
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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..
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
Oh crap , hope you held off a little long Bob,, I got in at 2 and still kicking myself....But still hoping...
Posts: 1986 | From: Florida | Registered: Mar 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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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
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
Bob Hope you got in his morning at 1.65 or lower will be a good day for you there.. Gary
Posts: 1986 | From: Florida | Registered: Mar 2006
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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.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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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.
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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.....
Posts: 1986 | From: Florida | Registered: Mar 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
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
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
Was thinking about a potential bounce in the AM if this continues. This is just nuts.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
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...
Posts: 1986 | From: Florida | Registered: Mar 2006
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posted
ABK showing 2.17 after closing at 2.25 grrrrr
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: WB back to .01 lmao
Back to 1.84 lmao
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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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.
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