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Running The Junk Into Quarter End
The September 30 statement print is right around the corner, so you have many managers chasing all kinds of assorted junk in order to "beat the index" and stay employed.
Cannot underestimate the desperation of these guys to bark out orders to the Fembot Floor Managers, who in turn cracks the whip on the autistic, hyperactive, 19-year old traders manning the desks at the world's biggest mutual funds.
Might as well start off with the "worst of the worst":
Hotels, CRE brokers, REITs, mortgage insurers, finance companies, etc.
Even the 1200-story Derivatives Colossus was moving today. Most managers will be fired if they do not own a leading "financial" in size:
And don't forget GOOG and AMZN with stratospheric P/E ratios, failure to show outsized positions in these is grounds for immediate firing:
Its all about performance, and who has the hottest car, the youngest, hottest girlfriend, and the best digs lined up for next summer season out at the Hamptons.
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Why did you guys post pictures of my house, my car and my girlfriend?
how true...................
how true....................
churn... if GS can have it tread water and take up all the supply with newly issued treasury debt levered up to the mesosphere then the SPX might quasar right into the hubble.
This isn't a stock market it's a greyhound track.
I put money on the 2-5-8-4 quinella box superfecta..... or something funny
More fun with numbers to be had out there. The SPY 3/6/09 low was 67.10, the 6/23/09 low (intermediary of course, final was a few days later) was 88.85, over 75 trading days the delta price/day is 0.29, at 138 trading days (today) the price change would lead to 107.12... check a minute chart at what was the bouncy-bouncy line.
Can't we all just Index? uh I mean get along...
fuck off
Don't get your panties in a knot.
lol - I guess I needed the sarcasm font. You got me all wrong.
Taking an indexing approach in your portfolio would probably decrease your stress level and thus you would become more sociable! That and you can time the shit out of an indexing mutual fund, and actually be right!
How much easier than throwing a dart on a dartboard of randomized tickers do you want? ;) + /sarcasm + j/k + lol
I like your new sarcasm emotes. Can we be friends again?
The rising tide lifts all boats.
http://www.youtube.com/watch?v=9iUjx4_X1qA&feature=related
Prime time to take my co's public baby!
SHT
CRP
POOP
...they should trade up to a hundo in no time.
Like Faber said this morning, the dollar blows, so you might as well load up on stocks...even though the fundamentals all point to world destruction in a few years.
Yeah! Ride out the fumes baby...pop the corks and rock before the party ends and we all go Mad Max. Great plan!
yeah, thanks for that uplifting sentiment...snark
your schtick is getting old.
I'm as negative as the next guy, but eff me if I'd like to think there's an alternative to the Mad Max scenario, and I'm not talking Master Blaster. Maybe some fiefdoms. Gold, guns, and god?
She likes Indexing. You can see it in the...eyes.
So what happens to the trash later? Are we now soon trending over the ass-cheek bikini line...
This market is either totally crazy (or maybe its me). FTBK has gone from .80 to 2.12 in 2 days
BUT they signed a merger with SPAH which values them at about .52 (DSP is trading at 9.73).
Something’s not right with this picture
________________________________________
Later this year, SP Acquisition Holdings Inc. (SPAH), a New York-based asset acquisitions company, expects to complete its acquisition of Frontier Financial Corp. in a stock exchange deal.
Prior to the deal’s conclusion, one of the most active stocks on the NASDAQ stock exchange on Tuesday was Frontier. Shares in the Everett-based company soared in Tuesday trading, rising more than 30 percent, or up 36 cents, to close at $1.54. On a normal day, about 600,000 Frontier shares trade hands; on Tuesday, nearly 26 million shares were traded.
SP Acquisition Holdings (AMEX: DSP) said as part of the deal, each outstanding Frontier share will be exchanged for the right to receive 0.053 shares of SP common stock and 0.053 SP warrants. Frontier has more than 47 million outstanding shares, which will be exchanged for 2.5 million SPAH shares and 2.5 million SPAH warrants.
On Oct. 8 in New York City, SP Acquisition shareholders will be asked to vote on the Frontier deal. SPAH officials said they don’t anticipate making too many changes with Frontier.
“SPAH will do business as Frontier Financial Corp. Frontier’s executive team will remain in place, the company’s headquarters will remain in Everett, Washington, and the Frontier Bank brand will not be changed,” according to an SPAH statement earlier this summer.
________________________________________
Frontier Financial: Pump Up the Volume
By Robert Holmes 09/22/09 - 04:28 PM EDT See All 2 Comments Leave a Comment
Stock quotes in this article: FTBK
(Updated with Nasdaq noncompliance notice, final volume and price moves.)
• More on FTBK
• Market Activity
EVERETT, Wash. (TheStreet) -- Frontier Financial (FTBK Quote) shares on Tuesday surged as much as 79% on trading volume that was more than 50 times its daily average in the absence of any company-specific news.
Shares of the commercial bank holding company finished higher by 36 cents, or 30.5%, to $1.54, after rising as high as $2.12 in intraday trading. More than 25 million shares changed hands by Tuesday's close, compared to its 50-day average daily volume of 515,167, according to the Nasdaq's Web site.
Tuesday's gains built on a sharp rally Monday in Frontier Financial, when the stock jumped 53.2% to the first close above the $1 mark in nearly three months. Frontier Financial has now climbed to over a four-month high and has also re-crossed its 200-day moving average, according to RTT News.
Tuesday afternoon, Frontier disclosed it had received a delisting notice from the Nasdaq on Sept. 15, warning that the company's stock had traded below $1 a share for 30 consecutive business days. The notification letter stated that Frontier has until March 15 to regain compliance with the minimum bid price rule.
Despite the Nasdaq's notice, it's not exactly clear what has moved Frontier Financial's shares over the last two sessions. Chatter suggested the stock was in the midst of a short-covering rally, as Frontier sported a short interest float of 14.9% as of Aug. 26, according to Yahoo! Finance. Investor posts on Internet message boards shared the sentiment of a massive short squeeze.
The surge comes shortly before a deal that will see SP Acquisition Holdings, a New York-based asset-acquisition company, buy Frontier for about $24 million in stock and warrants. The merger is expected to close in the fourth quarter, the companies said in July. SP Acquisition shareholders will vote on the Frontier deal on Oct. 8.
-- Written by Robert Holmes in New York.
Wow, MSM actually addmitting there may be a problem. You go WA PO!
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/22/AR200909...
http://www.sgi.com/company_info/newsroom/press_releases/2009/september/i...
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