You got it. The ridiculously discounted market price was a great opportunity to scoop up tons of shares. As of tomorrow, single digits will be a long lost memory. Will we get back to the 20's ? Not so fast. Energy prices are still low. But with big daddy making sure the distributions only go up.... mid teens is next.
As you've probably guessed, I've been feasting. WMIH is one of two companies that I just can't get enough of at the current "freebie" prices.
They keep lowering the price, and I keep buying more.
Will I eventually own all the "public" shares ?
Maybe. Eventually the little guys will be out, if that's who is selling now.
Thanks for "bashing", I keep buying.
Especially I like "not much demand for dry gas in continental US". LOL
Power plants converting from dirty coal to clean gas is a big theme driving gas consumtion in the continental U.S. to new highs. Go to the EIA's web site, and you see the graph of annual "dry gas" (natural gas) consumption in the U.S. going through the roof.
Yahoo blocks web addresses, so I'll try to "encode" it:
eia "dot" gov/dnav/ng/hist/n9140us2a "dot" htm
Also, note that MEP's joint venture with EPD (a 60 billion $ MLP) and Anadarko, the Texas Express pipeline, is the future. It pipes the NGLs (natural gass liquids) from Texas producers to the gulf coast, where they can be shipped everywhere. MEP owns 35%, and the Texas Express is just ramping up its flow. Margins are great, and the risk is minimal as most customers pay to reserve their chunk of the pipe's capacity ("use it or lose it").
No, you should sell to IRlier for $2.80/share.
Oh, wait, but you ARE irLiar.
Sorry, can't give you advice.
Hi Lodas. It doesn't amaze me that the MM can move the price at will (to a certain extent, and time length). What does amaze me, is who sells these shares ? Someone has to supply these 350,000 shares, and be willing to part with them for that puny price. Unless it is all a show to scare us into selling ? They can buy and sell to each other or to themselves (at different accounts). I wonder if a broker will even allow you to buy/sell from yourself , as in a buy order and a sell order at the same limit. why not ? They want their commish...
Just put IR on ignore - and every few days add his new alias to the ignore list. He is too stupid to conceal his aliases. You can see him in the posts. Especially "no employees, no business plan" , sometimes I miss the laughs.
Yet another IRlier alias that needs to be added to the "ignore user" list.
"years or decades" ha ha ha ... more like just a few days away.
We missed you, Marty.
By the way, a few days ago I received he quarterly interest on the 2nd tier notes. This time in cash (not "in kind" like previous times). It was 3.25% (13 divided by 4). Pretty nice - check your account, too !
There was a big institutional buy a bit after the close, but they included it in the day's volume and official closing price. As I wrote a few days ago, the lady needs at least $11/share, maybe $12. CEO's of companies with market caps as big as NLY's have a lot of pull with mutual fund managers (they can award or take away multimillion $ business from the financial firms running the mutual fund, for example, if NLY decided to hire (or fire) JP Morgan the broker for their multibillion dollar trading of fixed income securities, JP Morgan would earn (or stop earning) so many millions in fees, that if they request them to use OTHER PEOPLE'S MONEY to buy or to sell their stock....would they say no ? Of course this is technically illegal. So I'm not saying this is a fact (as I could be sued for liable). Let's say it is a hypothetical thought, as Wall St. firms are known for their honesty :)
Then look at the price of WMB (who is buying WPZ at 20% over market value from before the gas price crash).
Isn't the rest obvious ?
You can add 2 more days to the consecutive losing day count since your post. I say back to $40's in no time. But what do I know ? I'm just a loser who got lucky buying in the low 40's and selling in the high 50's ?
Yes, I must be a loser to have sold at $54. And I'll be an even bigger loser when I buy back at $44, about where I bought last time. But its good to be a winner and just hold it all the way down $10.
So soon ? I thought the paperwork takes months.... That would be great news. Worth at least a buck in share price :)
They can take it to 2.74/2.75 and then back to 2.90/2.92
I am sooooo tempted to do some trading like you. But with my luck, if I try that....I'll be sooooo sorry when it opens at $6 one fine Monday morning.