Far as I'm concerned, eagle has posted the most legitimate BAC question for the day and so far it's been ignored. I don't the answer myself. Would have to have time to research this. Does anyone know:
When will the decision be made on the 8.5 B suit? (we're talking about Today's News Release: What Does JPM Settlement Mean For Our Bank Of Americaat Seeking Alpha(Wed 9:05AM EST)" Read it. It says there's an existing ongoing lawsuit against BAC - making a correlation between it and the big Morgan Stanley lawsuit that got settled in yesterday's news...
I've not seen any explanation. My phone conversation yesterday with the Savient gcg Claims Agent revealed nothing. She wouldn't even acknowledge their web sites dates were originally different or that they've updated them. The web site dates have in fact changed. I am guessing the original 11/22 "Sale Hearing (if no Qualified Bids Rec'd) has slid because they have in fact been receiving Bids. However, I couldn't get the Claims Agent to acknowledge that theory one way or another. Could also just be the Bankruptcy Court or Lawyers sliding the schedule. Don't know.
dhaka, could be "profit taking" but would you care to guess why this particular day & time? 1) no negative news (no news really), 2) The market's mixed and 3) Fed announcement in 2 hrs expected to be positive (at lease CNBC has already hinted at that this morning). So, why after reaching a 52 wk high do traders take their profit on a Wednesday morning no less?
To me this reaks of something we're about to find out. Hope I'm wrong. I'm still sitting on 3K shrs @ $19.21 ($57,630) from yesterday's close!
I may have jumped the gun. Just looked at the "daily pricing/yields reader board for all of Fidelity's Select Funds. More are down than up today, so far.
On the other hand, as of right now 11:56AM EST all four of the following are up:
DJI Up 15.73
^IXIC Up 14.19
^GSPC Up 3.78
^RUT Up 4.89 UpAnybody seeing something different
xq, For us layman how does the November "Settlement" work out to the drop on today's date 11/20/13? I'm asking this trying to learn, so, please make it simple. thx, kg
baxter, the Fed minutes aren't due out for another 2 1/2 hrs (2PM EST). So, how did CNBC announce or word this already?
That's 2 1/2 hrs from now. What do you expect will be said in the Fed minutes that will effect the market positively today? The only think I would guess is continued more of the same...
Big talk without Facts/Evidence just puts you on eternal Ignore... Evidence/public news points the other way - that we're still headed up.
hunter, are you talking about 11/15 8K announcement of the new Notes being issued? If so, how would that dilution revalue (murder) the share price that fast, in just 4 days? kg
what time are the "Fed minutes" expected to me announced today? Or, have they already (not watching the news or paper yet)
Check your reader boards and you'll conclude the same. Beyond that, who knows why MU has crashed. I bought yesterday and hour before the close at 19.21. Just based on daily and weekly trading charts for the last month and public news, I see no reason for getting murdered this morning! CNBC was saying Tech's a bit pricey but other than that seen nothing yet to explain this. The Icahn story applies to the whole market. Yet the market in general (DOW, NAS, S&P, etc) is up this morning.
marrow, thx for the sharing MU's trading pattern and the advice. This helps as I just started trading again after taking a couple years off. Also of interest is my Fidelity Brokerage sent me an email indicating I'm now a "Pattern Day Trader" which has some new convoluted margin balance requirements. This ought to be interesting.
From the chart and history it appears MU's been doing pretty well tagging along with Google and the likes of other big Cloud players. So I like trading a stock that appears to have some staying power not only with the competition but against the swings of the daily market.
I bought my MU shrs this morning at $19.65 and now I'm holding over night nervous about getting out tomorrow morning with my As- in tack!
so in other words, just sell your daily loss by end of day, get out and to trade another day. Hope you have more up than down days. Sounds like a loser gambling game to me...
Answering my own question. Just looked at the DOW, NAS, S&P, etc. Everything's down today so far...
That's the trouble with doing DD on stocks. You spend all this time researching the CO and watching it trade. But you can't predict what this crazy world and the market is going to from day to day...
What gives? MU trades nicely within +/- 10 cents, then I buy and POW - drops 40cents on no news! What gives? Haven't been watching - Is the whole market getting hit today?
The Claims Agent called today. The gcg web site Court Hearings schedule has been changed/updated:
- 12/4/13 10:30 AM “Debtors' Motion for Interim & Final Orders” (Bar Dates)”
- 12/6 Fri deadline for receipt of bids
- 12/9/13 “Objections due by 12/9/2013.”
- 12/13/13 Fri at 9:30 a.m. “Notice of Auction and Sale Hearing”
- 1/06/2014 10:30 a.m. “Second Omnibus Hearing (Docket No. 84)”
Anyone go on the Savient's "Case Administration Web Site" (gcg), download, complete and file a Proof of Clain form yet? What value does a stock holder use on the claim form, line 2 "Basis for Claim"? Can a Savient stock holder do this - file a claim for stock shares still held as of Oct 14th date of announcement and/or date of Bankruptcy completion? I am guessing stock holders cannot file a claim - cannot use this claim form to file a claim. Meant for 'Credirors' only. We're just out, unless we sue...
Huge front page article goes on n on describing how orphan drugs with little to no patients make millions anyway selling to providers that prescribe for other non-intended uses. Govt caught one Co doing this, sued and won. Also a story how one Co got sued by it's stock holders sued and won for basically the same thing that Savient has done - public misinformation. Read for yourself. kg