I decided to buy a few shares. Nothing too big -- enough that it will pay off if they actually settle, not enough to hurt if things don't go our way.
Maybe I'm in the minority, but I don't have real high expectations. I don't think you can just assume a settlement will happen, and I also don't think you can assume that the commons won't get tossed.
I hope I'm wrong, but I think a lot of people might be getting a little blinded by greed and aren't even considering the negatives of this stock (as evidenced by everyone at investorshub acting like they are playing a lottery where they already know the winning numbers). This IS a high risk stock. High risk, high reward, sure, but people seem to be forgetting the high risk part.
GL to everyone in it. Hope for the best!
Maybe I'm in the minority, but I don't have real high expectations. I don't think you can just assume a settlement will happen, and I also don't think you can assume that the commons won't get tossed.
I hope I'm wrong, but I think a lot of people might be getting a little blinded by greed and aren't even considering the negatives of this stock (as evidenced by everyone at investorshub acting like they are playing a lottery where they already know the winning numbers). This IS a high risk stock. High risk, high reward, sure, but people seem to be forgetting the high risk part.
GL to everyone in it. Hope for the best!
Nicely said. As I've always said, this is a lottery ticket worth holding, you dont want to go overboard with this. Only risk what you're willing to lose. I think there are a lot of positives that will be coming out soon. 10/22 you have the ruling on the $4B, then 10/28 another Omnibus hearing. Patience and smart buying/selling will pay-off nicely here.
You're portfolio shouldnt consist of solely speculative plays Lucky. You gotta throw in some China plays if you want to see serious green. I recommended buying WaMu at .10, you should still be up 100% if you got in around that time. Lehman stuff is all higher than where I recommended it, so you should be in the green regardless. This is all speculation, not solid investments.
Like I said, it's a lottery ticket worth holding brother. Dont go overboard.
I just reread my post. I really didn't mean it to sound that negative. Like everyone else I'm really hoping it comes through for us, I'm just not counting my money yet is all. Some of those guys over on investorshub are already talking about what kind of cars they are going to buy to drive to Vegas!! @)
I think my hesitancy is because I usually tend to be pretty conservative when it comes to buying stocks. I look for good fundamentals (zero debt, plenty of free cash, high yield, etc.), and this play is totally different.
GL to everyone!
Kuwl, I got too exicted. 1/2 of my picks are in WAMUQ, LEHMQ, LEHCQ.
Should I sell LEHMQ and LEHCQ now? some of them still green but some of them red now..hno:
Whats going on? why they are went south?
They move with no news at all. MMs play games, people sell because they dont move as fast as they want. Hard to find the true bid/ask on most of them. You should probably minimize your exposure a bit and grab some investment-grade stocks rather than have so much speculative. At most, I like to have 20% of my portofolio being speculative. So, play it safe.
if you read all the fast it seems obvious that there should be a settlement. The lawyers almost have little incentive to settle and would probably prefer to drag it out in the courts for years to rack up huge legal bils. JPM has used so many stall tactics and continue to get away with crap.
Kuwl. whats your new version of how it will play out? I am thinking more fulctuation for the end of the year and maybe 1st quarter,.
I am not sure if they are going to emerge from BK or not and how long it will take. It is highly annoying what is going on now. I would like to be buying some more cheap shares even with my current big invesment but there is just not enough news out there to make a solid decision.
Is anyone adding at these prices? Waiting for more drop? Will we be >.10 by end of month..
Kuwl. whats your new version of how it will play out? I am thinking more fulctuation for the end of the year and maybe 1st quarter,.
I am not sure if they are going to emerge from BK or not and how long it will take. It is highly annoying what is going on now. I would like to be buying some more cheap shares even with my current big invesment but there is just not enough news out there to make a solid decision.
Is anyone adding at these prices? Waiting for more drop? Will we be >.10 by end of month..
Cash,
I hope you're right. I'm just not willing to say a settlement is inevitable like a lot of people are. And maybe I'm a cynic, but I'd like to see some objective viewpoints (i.e., people who DON'T own the stock) saying they think a settlement is imminent. The opinions of people on this board, and over on investorhub, are pretty biased, IMO. The hyperbole over there is pretty ridiculous. If things don't turn out in our favor, there are some people over there who will be absolutely devastated.
As for the price... I think it might go down a little more tomorrow as well, before the Thursday hearing. Just a guess, but I think you might be able to get shares somewhere between .13 and .15 tomorrow. Then if things turn out well in the hearing, it should spike back up.
I hope you're right. I'm just not willing to say a settlement is inevitable like a lot of people are. And maybe I'm a cynic, but I'd like to see some objective viewpoints (i.e., people who DON'T own the stock) saying they think a settlement is imminent. The opinions of people on this board, and over on investorhub, are pretty biased, IMO. The hyperbole over there is pretty ridiculous. If things don't turn out in our favor, there are some people over there who will be absolutely devastated.
As for the price... I think it might go down a little more tomorrow as well, before the Thursday hearing. Just a guess, but I think you might be able to get shares somewhere between .13 and .15 tomorrow. Then if things turn out well in the hearing, it should spike back up.
I dont really have a theory/projection ... I'm in this until the end-game where these shares are either worthless or a settlement is reached and I can sell them for dollars. A lot of people don't realize JPM and WaMu's lawyers were at a table negotiating a settlement back in March (i believe, need to double-check this date), and they had agreed on a number. BUT, then JPM said the $4B was theirs and things completely fell apart. I honestly think we'll get a settlement. Will it be as much as $12/share for the commons? I dont know, it's possible. Thursday should be interesting and the next Omnibus should reveal a lot of details.
Courtesy of Mordicai on i-hub (he's the "supposed" BK lawyer):
"Just a reminder. Judge Walrath stated with respect to the turnover action in open court on June 24, 2009 per the transcript at page 6:
"The debtor's complaint and accompaning exhibits describe a mature debt owned by JPMC to debtors, without any indication of a genuine dispute as to the title of the deposit accounts."
And also remember that attached to the Summary Judgment motion was the stipulation by JPMC that the deposit accounts were the holding company's. The only reason the stipulation was withdrawn was because JPM wanted to reserve the right of offset against those monies which the holding company refused to do.
And finally remember, that JPMC's latest attempt deals with only their claim of offset, which the holding company has clearly shown is meritless.
So, I expect her to grant the summary judgment on Thursday in open court with no right of offset for JPMC."
-- Sounds like a professional opinion to me. Go with your gut
"Just a reminder. Judge Walrath stated with respect to the turnover action in open court on June 24, 2009 per the transcript at page 6:
"The debtor's complaint and accompaning exhibits describe a mature debt owned by JPMC to debtors, without any indication of a genuine dispute as to the title of the deposit accounts."
And also remember that attached to the Summary Judgment motion was the stipulation by JPMC that the deposit accounts were the holding company's. The only reason the stipulation was withdrawn was because JPM wanted to reserve the right of offset against those monies which the holding company refused to do.
And finally remember, that JPMC's latest attempt deals with only their claim of offset, which the holding company has clearly shown is meritless.
So, I expect her to grant the summary judgment on Thursday in open court with no right of offset for JPMC."
-- Sounds like a professional opinion to me. Go with your gut
Clock is ticking ...
Hearing 10/22/2009 at 09:30AM : Phone Details
Call-in at 9:25AM
The hearing begins at 9:30AM
LISTEN LIVE:
You will hear no music just an intermittent beep until the hearing begins.
The bridge number is <?XML:NAMESPACE PREFIX = SKYPE /><SKYPE:SPAN id=softomate_v3_print_0 class=skype_v3_tb_injection_print context="">712-432-1001</SKYPE:SPAN> and when prompted for the access code enter 477420980
AUDIO ARCHIVE:
The archived audio is:
http://www.mediafire.com/?sharekey=b9329...
Hearing 10/22/2009 at 09:30AM : Phone Details
Call-in at 9:25AM
The hearing begins at 9:30AM
LISTEN LIVE:
You will hear no music just an intermittent beep until the hearing begins.
The bridge number is <?XML:NAMESPACE PREFIX = SKYPE /><SKYPE:SPAN id=softomate_v3_print_0 class=skype_v3_tb_injection_print context="">712-432-1001</SKYPE:SPAN> and when prompted for the access code enter 477420980
AUDIO ARCHIVE:
The archived audio is:
http://www.mediafire.com/?sharekey=b9329...
Today wasn't as bad as I thought it would be. I think the only way the stock goes up tomorrow is if WAMU gets the $4B. If they don't, or if there is no ruling, I think the stock sinks like a rock. If that's the case, I'll probably sell what I have, then buy back in later on the price drop.
GL
GL
Weird, the call-in number didnt appear when I did copy and paste. Here's the info:
Hearing 10/22/2009 at 09:30AM : Phone Details
Call-in at 9:25AM
The hearing begins at 9:30AM (Eastern)
AUDIO ARCHIVE:
The archived audio is:
http://www.mediafire.com/?sharekey=b9329...
LISTEN LIVE:
You will hear no music just an intermittent beep until the hearing begins.
The bridge number is 712-432-1001 and when prompted for the access code enter 477420980
Hearing 10/22/2009 at 09:30AM : Phone Details
Call-in at 9:25AM
The hearing begins at 9:30AM (Eastern)
AUDIO ARCHIVE:
The archived audio is:
http://www.mediafire.com/?sharekey=b9329...
LISTEN LIVE:
You will hear no music just an intermittent beep until the hearing begins.
The bridge number is 712-432-1001 and when prompted for the access code enter 477420980
