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TierOne Corp. Message Board

  • pertzbornj pertzbornj Jan 29, 2010 9:07 PM Flag

    What is up?

    What has changed other than the CEO? Has this guy promised to be more transparent or what? I am a big bag-holder and don't want to buy in unless this is a legit move. Too many head fakes for my liking. It seems odd in this enviornment that this stock would be having a run like this unless it was legit.

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    • The run up on the 20th wasnt anything but a head fake, II(institutional investors) primed the exchange buying sending the shares skyrocketing, and then started to stagger-step selling into/between the buying, selling to other hands. Upwards climbed the price and that attracted day traders. When the music stopped and 2.3 million shares of the II's had been sold, the price collapsed.

      I sold my pre-bought share acquired at 0.69 and 0.79 cents much higher on the 21st. But I suspect that the TONE silence only made speculation more rampant, which aids those II's who were leaving anyway, if it hadn't gone done like this, the II's would be forced to sell 2.3 million down thru out the day killing the stock price.

      • 1 Reply to DEMFLYN
      • I think VooDoo said it best when he said "playing with fire". I don't know if anyone has even bothered reading the SEC filing concerning the new CEO. His contract is ONE year. The whole thing reads to me like a temporary position. He is there to facilitate sales of assets upon takeover. You may also see where it directly mentions raising capital. Unless they can, which I seriously doubt, they are under and they know it.

        Folks are going to get burned over and over by head fakes thrown in by institutions. They cleaned up good on the last one.

        And for those of you who think TONE wouldn't be taken over because of its asset base, read it and weep: http://news.yahoo.com/s/ap/20100130/ap_on_bi_ge/us_bank_closures

        "The failure of Los Angeles-based First Regional Bank, with nearly $2.2 billion in assets and $1.9 billion in deposits, is expected to cost the federal deposit insurance fund $825.5 million."

        There is still more NPLs coming, some likely starting to invade the loans that were included in the proposed GW sale. The institutional players will give it another bump or two, and then sell and short to zero. Don't get caught!

 

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