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Gary59
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Pre-Market buys coming in at 2.90 this morning on NCC.....closed at 2.23 yesterday...
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Gary59
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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..
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BooDog
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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.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Gary59
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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...

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Gary59
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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.

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Gary59
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Keep an eye out for CBB cincinati bell ...found this one yesterday...not sure what it will do today, but up in pre market...
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Gary59
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Gary59
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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.... [Good Luck]

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BooDog
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mbi / abk lawsuits

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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quote:
Originally posted by BooDog:
mbi / abk lawsuits

http://biz.yahoo.com/ap/081009/ca_bond_insurers_lawsuit.html?.v=1

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.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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too bad no shorting eh?

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Gary59
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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.

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Gary59
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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....
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BooDog
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quote:
Originally posted by BooDog:
too bad no shorting eh?

didn't see the news. Thought it was extended.
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Gary59
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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..

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leatherssonny
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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?
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Gary59
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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...
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Rockster
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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

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stocktrader22
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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...

--------------------
Disclaimer: Not accountable for anything I say

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BooDog
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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

[Eek!]


[More Crap]


[Good Luck] to all of us

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Gary59
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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..
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Gary59
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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 ,

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BooDog
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NCC hitin 2.72

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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quote:
Originally posted by BooDog:
NCC hitin 2.72

goin down

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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quote:
Originally posted by BooDog:
quote:
Originally posted by BooDog:
NCC hitin 2.72

goin down
lod 2.62 see if it holds

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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ABK heading back down also

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Gary59
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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..
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BooDog
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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

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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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.

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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NCC back to 2.94 shaky as a Shaky's pizza!

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Gary59
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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..

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Gary59
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As crazy as NCC has been it might close at 3 again today...
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Gary59
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Did you see what RIMM did today ?hit a low of 52.90 and high 59.81 almost 7 dollar swing today..
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BooDog
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I didn't see RIMM at all. My concentration span is a little short today lol. Dam fall colds!

--------------------
All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Peaser
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http://biz.yahoo.com/ap/081020/rim_mover.html?.v=1

--------------------
Buy Low. Sell High.

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