With the sudden delisting of the Journal Register, it is interesting to look at who else is on the NYSE list of companies who could get delisted. The NYSE is generally very good about this and lets the companies have time to get into compliance. Below are the lists. They are grouped based on why the NYSE has problems with them. Issuers that are noncompliant with its quantitative and corporate governance listing standards: Fremont General Corporation (FMT) Fremont General Financing I (FMTPR) Impac Mortgage Holdings, Inc. (IMH) Impac Mortgage Holdings, Inc. (IMHPRB) Impac Mortgage Holdings, Inc. (IMHPRC) Journal Register Co....
Fremont General (FMT) Down 50% today. Finally delisted. Hit bottom at $.26 against 52-week high of $13.80. Avnet (AVT) Warns on profits. Slips to $27.76 from 52-week high of $44.68. Kinetic Concepts (KCI) Sells convertible notes to fund acquisition. Drops to $40.27 from 52-week high of $66.77. Northrop Grumman (NOC) Company plans to take first quarter charge. Sells down to $71.39 from 52-week high of $85.21. Tesoro Corporation (TSO) Bad day for oil refiners. Concerns about margins. Falls to $25.06 from 52-week high of $65.98. Gannett (GCI) Part of bath newspaper companies are taking. Sells off to $27.26 from 52-week...
CapitalSource Inc. (
NYSE: CSE) will pay approximately $58 million to acquire Fremont General Corp.'s (
NYSE: FMT) 22 retail branches as well as $5.6 billion in deposits. Shares of CapitalSource soared $1.49 to $11.98 while Fremont General stock rose 8 cents...
Despite earnings concerns, the markets traded modestly higher during the midday with the Dow rising 24 points to 12,350 as retail sales inched up in March. Nasdaq added 3 points to 2293.
Both FMT and TMA are good trades on the recent mortgage crisis. If you have the time to watch them closely thru the day, you can trade both of these companies to make some quick cash over the next couple of weeks.
Picking bottoms (or a top) in a stock is one of the most difficult jobs on Wall Street and it is something which I rarely attempt to do. There is, however, one time of year that I have had success in finding deeply oversold stocks which have produced incredible short term percentage moves over the course of 2-3 weeks. Now is that time of year!
The best description of the “January Effect” comes from Wikipedia “The January effect (sometimes called "year-end effect") is a calendar effect wherein stocks, especially small-cap stocks, have historically tended to rise markedly in price during the period starting on the last day of December and ending on the fifth trading day of January. This effect is owed to year-end selling to create tax losses, recognize capital gains, effect portfolio window dressing, or raise holiday cash. Because such selling depresses the stocks but has nothing to do with their fundamental worth, bargain hunters quickly buy in, causing the January rally.”
I do not think it is as precise as the last day of the year and then selling on the fifth trading day of January, but the reason in this description is valid (except raising holiday cash, do you sell your stocks so you can buy a nice present for your wife?).
Keep in mind that the stocks on this list are not in good technical condition, the charts all look terrible! Also, the fundamentals for these companies are probably lousy. These stocks should be looked at as HIGH RISK and you should consider buying a basket of them across different industries to spread the risk. I would suggest that you commit no more than 20% of your risk capital to the entire strategy, spread evenly amongst the stocks you choose to purchase.
Stocks reviewed in the video include; CSK Auto Corporation (Public,
NYSE:CAO), Citadel Broadcasting Corporation (Public,
NYSE:CDL), Directed Electronics, Inc. (Public,
NASDAQ:DEIX), Enterra Energy Trust(Public,
NYSE:ENT), The Finish Line, Inc.(Public,
NASDAQ:FINL), Fremont General Corporation (Public,
NYSE:FMT), Quebecor World Inc.(Public,
NYSE:IQW), Krispy Kreme Doughnuts (Public,
NYSE:KKD), Merge Technologies Incorporated (Public,
NASDAQ:MRGE), Stein Mart, Inc. (Public,
NASDAQ:SMRT), Standard Pacific Corp.(Public,
NYSE:SPF) and a few other stocks with terrible charts and questionable fundamentals. The stocks are risky and should only be looked as potential trades.
I definitely do not believe the book value is as high as what is says for all these companies. The information was taken from Yahoo Finance, how often they uptade book value is anyones guess. Short information is as of November 30.
Picking bottoms (or a top) in a stock is one of the most difficult jobs on Wall Street and it is something which I rarely attempt to do. There is, however, one time of year that I have had success in finding deeply oversold stocks which have produced incredible short term percentage moves over the course of 2-3 weeks. Now is that time of year!
The best description of the “January Effect” comes from Wikipedia “The January effect (sometimes called "year-end effect") is a calendar effect wherein stocks, especially small-cap stocks, have historically tended to rise markedly in price during the period starting on the last day of December and ending on the fifth trading day of January. This effect is owed to year-end selling to create tax losses, recognize capital gains, effect portfolio window dressing, or raise holiday cash. Because such selling depresses the stocks but has nothing to do with their fundamental worth, bargain hunters quickly buy in, causing the January rally.”
I do not think it is as precise as the last day of the year and then selling on the fifth trading day of January, but the reason in this description is valid (except raising holiday cash, do you sell your stocks so you can buy a nice present for your wife?).
Keep in mind that the stocks on this list are not in good technical condition, the charts all look terrible! Also, the fundamentals for these companies are probably lousy. These stocks should be looked at as HIGH RISK and you should consider buying a basket of them across different industries to spread the risk. I would suggest that you commit no more than 20% of your risk capital to the entire strategy, spread evenly amongst the stocks you choose to purchase.
Stocks reviewed in the video include; CSK Auto Corporation (Public,
NYSE:CAO), Citadel Broadcasting Corporation (Public,
NYSE:CDL), Directed Electronics, Inc. (Public,
NASDAQ:DEIX), Enterra Energy Trust(Public,
NYSE:ENT), The Finish Line, Inc.(Public,
NASDAQ:FINL), Fremont General Corporation (Public,
NYSE:FMT), Quebecor World Inc.(Public,
NYSE:IQW), Krispy Kreme Doughnuts (Public,
NYSE:KKD), Merge Technologies Incorporated (Public,
NASDAQ:MRGE), Stein Mart, Inc. (Public,
NASDAQ:SMRT), Standard Pacific Corp.(Public,
NYSE:SPF) and a few other stocks with terrible charts and questionable fundamentals. The stocks are risky and should only be looked as potential trades.
I definitely do not believe the book value is as high as what is says for all these companies. The information was taken from Yahoo Finance, how often they uptade book value is anyones guess. Short information is as of November 30.
Market players have lacked transparency to what bad collateralized debt organizations are. Home equity loans issued and purchased by Novastar Financial Inc. (
NFI), Fremont General Corporation (
FMT), New Century Financial, American Home Mortgage and Washington Mutual Inc. (
WM) have proven to be bad. Between 2005 and 2007 they issued bad home equity and if they purchased it as E TRADE Financial Corporation (
ETFC), Wells Fargo & Company (
WFC) and Citigroup Inc. (
C) did, they are in trouble with them.
WFC took charge and got them off the books quickly and this was the way to work it out. Finally there is clarity and this is a good thing.
TV RECAP
UP
Copernic Inc.
(CNIC) China Sunergy Co.Ltd.
(CSUN) Xinhua Finance Media Limited
(XFML) Keryx Biopharmaceuticals
(KERX) Solarfun Power Holdings Co
(SOLF)
DOWN
Fremont General Corporation
(FMT) Resources Connection, Inc.
(RECN) Lattice Semiconductor
(LSCC) Under Armour, Inc.
(UA) Sprint Nextel Corporation
(S)
