NCC - National City Corp

[BadThad]

Down huge today over worries, could make for a nice bottom play. Of course, the financials are risky, do your own DD.

NCC on Google Finance (http://finance.google.com/finance?q=NYSE:NCC&source=finance)

Current PPS: $6.30

[Grizzums]

Down huge today over worries, could make for a nice bottom play. Of course, the financials are risky, do your own DD.

NCC on Google Finance (http://finance.google.com/finance?q=NYSE:NCC&source=finance)

Current PPS: $6.30

If the bank is offering common stock for $5, I would certainly not be looking to pay over that....then again, I'm not looking at this one at all. Could make for a trade though....not the type I like although I know some of you play these types...

Good Luck.

[BadThad]

NCC stock is absolutely destroyed! Down 25% to 3.35, set a 52-week low of 2.99 today. Down 45% over the last 60 days. 8-|

[BadThad]

Continuing my investment to the financials.....hey, I have almost 20 years to wait before I need the money! LOL

NCC will be fine IMO. Latest news:

National City says it has more than enough capital despite loss
3:45p ET July 24, 2008 (MarketWatch)
BOSTON (MarketWatch) -- Shares of pressured National City Corp. were down late Thursday after the regional bank reported a quarterly loss of nearly $1.8 billion but said it has "more than sufficient capital" to ride out the unrest in credit markets.

National City posted a second-quarter loss of $1.76 billion, or $2.45 a share, compared to a year-earlier profit of $347 million, or 60 cents a share. The company has been one of the harder-hit banks during the credit storm, but analysts said it has effectively boosted its capital reserves to protect against losses.

Wall Street analysts also said the company's battered mortgage portfolio may be calming.

"Credit quality deteriorated, but there are some signs of stabilization in the nonprime mortgage book," wrote BMO Capital Markets analyst Lana Chan in a research note Thursday morning.

"With the capital raise, National City's capital ratios are among the strongest of its peers," the analyst said. "We continue to believe that the improved capital base and higher reserves ... will allow National City to proactively work through losses in its higher-risk loan portfolio."

Investors have been closely monitoring the health of regional banks after the failure of IndyMac. Heading into Thursday's session, National City shares were down more than 70% year to date.

The stock plunged earlier this month, and in response, the company said it was experiencing no unusual depositor or creditor activity. The episode underscored the power of market rumors and speculation during the latest banking crisis.

Analysts at Fox-Pitt Kelton Cochran Caronia Waller in a report said the most important factors for National City are capital levels, credit quality and any signs of weakness in the core business.

They said the bank's capital "remains strong" while credit quality was "mixed" but with "some positive signs." Meanwhile, the core franchise appears stable with retail deposit accounts mostly higher across various types. Commercial loan growth is holding up, despite weakness in the asset-management business, the analysts said.

"With the completion of our $7 billion capital raise, National City is by far the best capitalized bank among its peer group -- and is the best capitalized of all major U.S. banks," said National City Chief Executive Peter Raskind in the second-quarter earnings release. "We are confident that we have more than sufficient capital to ride out turbulent credit markets."

'Unprecedented conditions'

Still, the CEO on the analyst call Thursday said "there is no doubt the entire banking industry continued to face unprecedented and challenging market conditions over the last quarter," according to a transcript from FactSet. "We fully recognize that we need to improve performance."

Looking ahead, Raskind said the company expects the provision for loan losses to decline in the second half of 2008.

The quarterly loss included a non-cash goodwill impairment charge of $1.1 billion related to previous acquisitions. The company also boosted its loss reserves on liquidating mortgage-loan portfolios.

The second-quarter provision for loan losses was $1.6 billion, including $1 billion related to liquidating portfolios of brokered home equity, nonprime mortgage, and construction loans to individuals, the company said. It added the provision for loan losses included supplemental reserves of $478 million, "specifically reflecting the difficult environment in the housing market."

Mike Mayo at Deutsche Bank in an investor note Thursday said the quarterly loan losses were worse than expected.

"Net-net: this looks to us as part clean-up quarter, part continued issue with problem loans, and part taking enough conservatism that the company has a cushion to absorb problems over the next couple years," Mayo wrote. "We are buyers of the stock."

[Ciao]

got few near the closing........ |-{

BadThad here I am trying to get you into day trading (in/out more often)… instead you “infect” me to trade the finance stocks 8-|8-|

:lol: have a nice w/e

[BadThad]

got few near the closing........ |-{

BadThad here I am trying to get you into day trading (in/out more often)… instead you “infect” me to trade the finance stocks 8-|8-|

:lol: have a nice w/e

I'm in NCC at 4.77!

HAHAHAHA.....I'm a "mixed" trader, day and long. I intend on holding these financials for a long, long time. $$$$$$$ :biggrin:

Someday this will be me >>>> :dance:

[alhaanad]

Technically, NCC has been showing support around 4.01 and resistance in the 6.06 range. The buying signal is on today but not strong and the target price is set to $7.55.
(9Trading -Technical Analysis,Top Stock Picks and Ratings,Amibroker Formulas (http://www.9trading.com/index.php?symbol=ncc))

[BadThad]

Technically, NCC has been showing support around 4.01 and resistance in the 6.06 range. The buying signal is on today but not strong and the target price is set to $7.55.
(9Trading -Technical Analysis,Top Stock Picks and Ratings,Amibroker Formulas (http://www.9trading.com/index.php?symbol=ncc))

Welcome to SMC! :biggrin:

[BadThad]

NCC shares increase, down 20% today:

National City Corporation Increase in Common Shares Outstanding Takes Effect
2:40p ET September 22, 2008 (Page Ranking NewsWire)
National City Corporation (NYSE: NCC) announced that, as the result of the recently approved conversion of its Series G Convertible Preferred stock, effective today, its outstanding common shares have increased from 760 million to 2.1 billion, representing a market capitalization of approximately $11.8 billion, based on the $5.61 closing price of National City's common stock on Friday, Sept. 19, 2008.

The Series G preferred shares were issued in April 2008 as part of National City's $7 billion capital raise, and the conversion of those shares into common stock was approved at a special meeting of stockholders on Sept. 15.

[BadThad]

Really down, hit $2 today. 8-|

[BadThad]

Dangit, I had a limit order in for $2.10 and it never hit. I'm going to raise it to $3.70 and pray it hits next week. I think NCC is a great deal at that price. It closed today at 3.71. This is one of the stocks I think will benefit after the bailout....should be a several dollar move. Just be aware, if the bailout doesn't get done, this could slip again....this is a risky play.

[BadThad]

What is a good price to get into NCC at? I watched it go to $2 and then bounce to the high 3's within a matter of minutes but didn't react quick enough.

Welcome to SMC! :biggrin:

I think I'm going to jump in NCC monday, I think anything below $4 is going to turn out good. They are buried in subprime, I think they'll get a PPS boost with the bailout.

Do your own DD on NCC. They are really in a world of hurt, I consider them fairly high risk.

[BadThad]

OUCH! NCC down BIG time today, over 58% to 1.55! 8-|

[Aufan 1983]

Can someone convince me that shares of NCC will NOT be under 75 cents in one week? :sick:

I'm in for 500 shares @ 1.48 so I hope not....lol

[Aufan 1983]

This may be like Cramers call on Wachovia but it is interesting.


Ahead of the Bell: National City upgraded
Monday September 29, 8:21 am ET
Oppenheimer upgrades National City to 'Outperform' from 'Perform'; BMO analyst lowers estimate

NEW YORK (AP) -- Oppenheimer & Co. analyst Terry McEvoy on Monday upgraded the shares of National City Corp. to "Outperform" from "Perform," saying a recent sell-off in the stock is unwarranted.
National City shares dropped 26 percent on Friday to close at $3.71, as investor anxiety about the financial sector heightened after the emergency sale of Washington Mutual Inc. the day before.


"We do not feel National City is seeing a mass exodus of depositors, their loan portfolio is more diversified and better quality than WaMu's and the recent sell-off triggered us to upgrade the stock to 'Outperform' with a $5 target price," wrote McEvoy in a note to investors. "National City has been proactively managing their liquidity position, and with over 4 million household customers and 1,400 branches, has a strong base of core deposits."
BMO Capital Markets analyst Lana Chan said the bank has enough capital and reserves to absorb estimated potential losses in its loan portfolio. The bank also is in better shape than WaMu was prior to its seizure by regulators and the subsequent sale of its deposits to JPMorgan Chase & Co., Chan said. The analyst added that National City has more capital and less exposure to toxic mortgage assets.

Additionally, the Cleveland-based bank stands to benefit from the government's proposed $700 billion rescue plan, Chan said. Lawmakers are to vote on the bailout package on Monday.

"The proposed government bailout plan will be critical for National City, as it will hopefully be a large step in the right direction in stabilizing the mortgage market and rebuilding confidence," Chan wrote in a client note.

National City shares slipped 21 cents, or 5.7 percent, to $3.50 in pre-market trading. Shares are down 78 percent so far this year.

[BadThad]

Damnit! LOL I bought at 1.50 and sold at 1.70 this morning already. I guess I should just be glad I made some green....I was worried when it dipped to 1.25.

[Aufan 1983]

Smart move, I would have gotten out around $2 but I am dealing with unsettled funds (they settle tomorrow). NCC is around $1.50 in after hours but who knows what will happen tomorrow.

I am still semi-confident about this investment, but, tomorrow if I can break even or make a little profit I might just hop off of this roller coaster. Otherwise I'm riding it to bankruptcy or double digits. What say you guys?

I'm riding it and in fact managed to sneak a few more shares in this afternoon on the fall @ 1.40. Found the article below and it looks like it should survive but you never know in this goofy market.


It Isn't Pretty For National City
Ruthie Ackerman, 09.29.08, 9:40 PM ET

Fear ruled on Wall Street on Monday, and investors seemed particularly leery of regional banks after the $700 billion bailout package ws voted down in the House, leading to guessing as to which financial institution would crumble next.

On Monday morning, Cleveland-based National City (nyse: NCC - news - people ) said that it had sufficient capital and has no intention of raising more, according to TradeTheNews.com since it acted early and raised capital beyond recommended levels. (See " National City Banks On Cash Stash.") Its stock tumbled 63.3%, or $2.35, to close at $1.36. Its shares have plunged 91.7% since the beginning of the year.

National City reported it has no exposure to adjustable rate mortgages and exposure to residential market is substantially less than Wachovia (nyse: WB - news - people ) and Washington Mutual (nyse: WM - news - people ), TradeTheNews added. The regional bank said it is currently liquidating its $20.0 billion loan portfolio.

BMO Capital Markets analyst Lana Chan said there's a significant difference between Washington Mutual and National City, with National City having more capital and less exposure to mortgage-related assets. But she said, "market sentiment can turn problematic for a bank in this environment."

But investors weren’t buying National City’s confidence, especially given the fact that the House of Representatives squashed a bill granting the Treasury $700.0 billion to shore up the U.S. financial system in a suspenseful vote of 205-228. (See " Now What?") On Wall Street, market response was swift and terrible. The Dow Jones industrial average, which had been trending down throughout the morning, plunged almost 7.0% in minutes before recovering somewhat.

[TNTrader]

I'm riding it and in fact managed to sneak a few more shares in this afternoon on the fall @ 1.40. Found the article below and it looks like it should survive but you never know in this goofy market.


It Isn't Pretty For National City
Ruthie Ackerman, 09.29.08, 9:40 PM ET

Fear ruled on Wall Street on Monday, and investors seemed particularly leery of regional banks after the $700 billion bailout package ws voted down in the House, leading to guessing as to which financial institution would crumble next.

On Monday morning, Cleveland-based National City (nyse: NCC - news - people ) said that it had sufficient capital and has no intention of raising more, according to TradeTheNews.com since it acted early and raised capital beyond recommended levels. (See " National City Banks On Cash Stash.") Its stock tumbled 63.3%, or $2.35, to close at $1.36. Its shares have plunged 91.7% since the beginning of the year.

National City reported it has no exposure to adjustable rate mortgages and exposure to residential market is substantially less than Wachovia (nyse: WB - news - people ) and Washington Mutual (nyse: WM - news - people ), TradeTheNews added. The regional bank said it is currently liquidating its $20.0 billion loan portfolio.

BMO Capital Markets analyst Lana Chan said there's a significant difference between Washington Mutual and National City, with National City having more capital and less exposure to mortgage-related assets. But she said, "market sentiment can turn problematic for a bank in this environment."

But investors weren’t buying National City’s confidence, especially given the fact that the House of Representatives squashed a bill granting the Treasury $700.0 billion to shore up the U.S. financial system in a suspenseful vote of 205-228. (See " Now What?") On Wall Street, market response was swift and terrible. The Dow Jones industrial average, which had been trending down throughout the morning, plunged almost 7.0% in minutes before recovering somewhat.

Guilt by association may be a problem for all banks for a while. IMO, the local and regional banks will be the first to recover and leg up fastest after a bottom is found. The problem is in finding that bottom. The market is eating itself out of fear and the fed is eating solvent companies just because it can. I have yet to find a financial institution that doesnt meet a prior fed takeover scenario. Between the runs on capital by depositors,the exposure to bad paper and the wants of congress buddies at JPM and Goldman, there appears to be no rule's.

Good Luck

[BadThad]

I'm going to try NCC again this morning....buy order in. I think it's a tremendous value at these levels.

[3DCyclone]

I have my mortgage with National City Mortgage and have been pleased with the service, etc. They should rebound nicely once the dust starts to settle in the financial markets.

[Volatile22]

Hey guys been awhile since I've been on SMC.

I am thinking I might get in on this one, but slightly nervous about a possible drop off tomorrow. Did I miss the boat?

[BadThad]

Trading can be frustrating....take a deep breath and don't let it get to you.

I'm back in at $1.95 with a sell order at $2.95....yea, I'm optimistic. LOL I want that order in there just in case. :)

[Volatile22]

Damn it i should have gotten in at 1.74 when I first looked at this. I am nervous getting in at 1.9x!

[Volatile22]

in at 1.90. Long term baby!

[BadThad]

Damn it i should have gotten in at 1.74 when I first looked at this. I am nervous getting in at 1.9x!

Don't be nervous, I think we're good with NCC. If you look at my previous posts, I thought anything below $4 was a good deal....now we're below $2. LOL

[Volatile22]

Don't be nervous, I think we're good with NCC. If you look at my previous posts, I thought anything below $4 was a good deal....now we're below $2. LOL

What crazy times in the market. So much opportunity is available, I just want to capitalize on it as much as possible. Thanks for the words, they helped cool me down haha.

I can't wait to see these stocks jump once some kind of bill is enacted.

[BadThad]

What crazy times in the market. So much opportunity is available, I just want to capitalize on it as much as possible. Thanks for the words, they helped cool me down haha.

I can't wait to see these stocks jump once some kind of bill is enacted.

You and me both brother! I'm HEAVY into financials and sitting on even more cash to invest in them. The good thing, I've ready made a lot of green off them, so I'm not hurting too bad with the giant drop yesterday. :)

[BadThad]

This stock really settled down today....very stable now that the sellers are all gone. I hope they come back to buy now.

[Volatile22]

This stock really settled down today....very stable now that the sellers are all gone. I hope they come back to buy now.

oh how I love the 3pm pps drop.

[rshaggy4]

I doubled up on NCC today at $1.89, putting my average at $2.27.
Ready for takeoff.

[BadThad]

I think this stock has bottomed out, I'm putting in a buy order to double up at $1.65 tomorrow....hope it hits!

Come on baby....gimme:

http://i138.photobucket.com/albums/q249/aufan1983/107919Space-Shuttle-Blast-Off-Poste.jpg

[rshaggy4]

Over $2 at 7:10.
:biggrin:

[BadThad]

Sold half my position @2.10 to reduce risk and take a little profit. :)

[BadThad]

Cool...up to $2.30 now! :dance:

[BadThad]

You gotta love this screen my fellow NCC investors: :biggrin: NCC is the #1 Google Finanace gainer so far today!

[Volatile22]

All I am $eeing i$ $$$$ $ign$. Great pick!!

[BadThad]

Oh yea baby....time to start the countdown for liftoff!

T-minus 10, 9,....

[Volatile22]

Sold @ 2.65, I dont have enough in there to ride it out with some left over shares. If it drops i will get back in.

[Volatile22]

Looks like I should have held. Oh well.

[BadThad]

Sold @ 2.65, I dont have enough in there to ride it out with some left over shares. If it drops i will get back in.

Nothing wrong with that, it's a profit. I just sold half, perhaps you should think about that strategy next time. :)

[Volatile22]

Nothing wrong with that, it's a profit. I just sold half, perhaps you should think about that strategy next time. :)

Yea that is definitely something for me to think about, thanks. I only had 768 shares, would that still have made sense?

[Volatile22]

I feel ill. Damn that drop to 1.50 from 1.69. Freaked me out and sold @ 1.65. This ones only going higher.

[BadThad]

Yea that is definitely something for me to think about, thanks. I only had 768 shares, would that still have made sense?

It always makes sense when you're up, I don't care how many shares you have. It gives you some profit, minimizes risk and effectively lowers your PPS. If I'm motivated, I'll calculate a new share cost and input that into my TDA account "price paid" column. For example:

1000 shares bought @ $1 ($1000 cost)
500 shares sold at $1.50 = $750 cash - $500 cost = $250 profit

Now you can say you own 500 shares at $0.75! It makes your gains column look very, very nice.....especially when the PPS keeps moving north. And if the stock drops, you have a much nicer "cushion" before you feel you have to sell. IT'S A WIN WIN!

Pretty cool, eh? :biggrin:

[Volatile22]

It always makes sense when you're up, I don't care how many shares you have. It gives you some profit, minimizes risk and effectively lowers your PPS. If I'm motivated, I'll calculate a new share cost and input that into my TDA account "price paid" column. For example:

1000 shares bought @ $1 ($1000 cost)
500 shares sold at $1.50 = $750 cash - $500 cost = $250 profit

Now you can say you own 500 shares at $0.75! It makes your gains column look very, very nice.....especially when the PPS keeps moving north. And if the stock drops, you have a much nicer "cushion" before you feel you have to sell. IT'S A WIN WIN!

Pretty cool, eh? :biggrin:

Wow I never thought of it that way before. I think next time I will go about it this way, definitely makes sense. Thanks for the insight!

Senate is to vote tonight on the bailout and the house is to on Friday. If this bill passes I think we will be seeing your rocket ship on the moon.

[BadThad]

YEA! Closed at 2.89....this puppy is going to fly on the bailout completion...I can just sense it!

[Volatile22]

YEA! Closed at 2.89....this puppy is going to fly on the bailout completion...I can just sense it!

I have a feeling the bill will pass for two reasons. One is because it can't afford to fail. If this bill doesnt pass the market will plummet to levels most likely beyond what we saw on Monday. The second, and most important, reason is that due to the fact I sold this stock, it is going to fly off the hinges to astronomical levels.


Edit: Luckily the bill is being voted for on Friday by the house, so I do have tomorrow to work with.

[NEWtrader]

2.77 in AH

[BadThad]

This comes from an article written this morning on Forbes.com called "The Bailout: An Owners Manual".

"So who will use it and who won't?

Joshua Siegel from StoneCapital Partners, a New York private equity firm that invests in small banks, says the regional banks stand to gain the most from the plan. That is a group that includes National City (nyse: NCC - news - people ), Fifth Third (nasdaq: FITB - news - people ), Sovereign, Colonial BancGroup (nyse: CNB - news - people )--all companies whose shares have been pounded down in the market tumult. In addition, the American Bankers Association has pressed to make sure it's available to all 7,000-plus banks, not just those with big mortgage exposure."

The Bailout: An Owner's Manual - Forbes.com (http://www.forbes.com/2008/10/02/bailout-taxes-washington-biz-beltway-cx_lm_bw_1001bailout.html?partner=yahootix)

ps: i am seeing $3.10 right now...A lot can happen in 4 minutes ($3.23 now):lol:

Oh yea! Great info....thanks! :biggrin:

[BadThad]

HAHAHAHA....this is GREAT....tells us they are fine!

National City Declares Quarterly Dividends
8:09a ET October 2, 2008 (PR NewsWire)
National City Corporation announced that a cash dividend will be paid on its common stock (NYSE: NCC) in the amount of $.01 per share. In addition, a cash dividend will be paid on its Series F preferred stock (NYSE: NCC-PF) in the amount of $.6171875 per depositary share. All dividends will be distributed on November 3, 2008 to stockholders of record as of October 13, 2008.

[rshaggy4]

Anyone care to share their exit strategies on NCC? Are you waiting to see what happens in the House tomorrow? Are you taking your profits and running?

I am debating whether to run away with some decent profits or wait to see how the bailout vote goes. Cause I think if the bailout fails in the House then NCC will crash below $2 again, and if it passes then NCC should go past $5.

I just don't want to get greedy (not sell) and risk the chance that NCC goes down the drain. What do you guys think?

I sold some yesterday for a small profit (100 shares)
I'm holding 400 shares for tomorrows vote with a exit target of $6.
If you just want to be sure and get out with the easy money, $5 is a fine target. Get the bananas and dance!

[BadThad]

Anyone care to share their exit strategies on NCC? Are you waiting to see what happens in the House tomorrow? Are you taking your profits and running?

I am debating whether to run away with some decent profits or wait to see how the bailout vote goes. Cause I think if the bailout fails in the House then NCC will crash below $2 again, and if it passes then NCC should go past $5.

I just don't want to get greedy (not sell) and risk the chance that NCC goes down the drain. What do you guys think?

I'm hanging on, this a bailout play and nothing more for me. Once the PPS rockets to $6-7, I think I'm going to bail. By selling half my shares earlier, my cost avg is real low now....I have a nice bottom cushion before I have to worry. :)

[BadThad]

I love the volatility....that's what makes us $$$. :)

[BadThad]

NCC news:

NEW YORK - Shares of National City Corp. rose Thursday morning as the company affirmed it will pay a quarterly dividend and amid hope Congress will pass a $700 billion financial rescue bill that could help the regional bank.

National City (nyse: NCC - news - people ) shares rose 26 cents, or 9 percent, to $3.15 in morning trading. The stock has ranged from $1.25 to $27.21 over the past year.

Earlier Thursday, National City said it would pay a cash dividend of a penny per share on common stock for the third quarter and pay a dividend of 61.71875 cents per share of its Series F preferred stock.

National City, which has been among the hardest hit banks by deterioration in the mortgage market, could receive a big boost in the coming weeks if Congress passes a revised bailout bill that would allow the government to purchase troubled mortgage assets.

As mortgages have increasingly defaulted since the middle of 2007, banks have taken billions of dollars of losses on the loans and securities backed by the troubled debt. The losses have forced banks to raise fresh capital to offset the losses and banks have drastically cut back on their lending amid worries of future losses.

The new version of the bill passed by the Senate Wednesday night also calls for $100 billion in tax breaks for businesses and the middle class and increases the limit on federal deposit insurance to $250,000 from $100,000.

The Senate was hoping the revised bill would attract House members who initially voted against the rescue package that the administration is calling essential to stabilizing the ongoing credit crisis.

The House, which rejected a bill Monday by a vote of 228-205, is expected to vote on the revised bill Friday. The Senate passed the bill by a 74-25 vote.

[Volatile22]

I sold some yesterday for a small profit (100 shares)
I'm holding 400 shares for tomorrows vote with a exit target of $6.
If you just want to be sure and get out with the easy money, $5 is a fine target. Get the bananas and dance!

This is coming from someone who sold too early. Hold on as long as possible. I would suggest what BadThad did and that was to sell half shares and hold on to the rest for the ride.

I am not sure how much you have in there right now, or are willing to risk, but I would at least leave some shares in there to ride this out because I sold and wish I still had shares.

There is a chance the bill won't pass, but in all reality the senate had a bipartisan vote of 74-25 ( poor kennedy couldn't make it:( ) and I was reading that the house would be really pressured to pass it if it were a bipartisan vote and over 70+ yay votes, which is all the case here. Also, as Warren Buffet said

"Buffett said that the bill that passed the Senate Wednesday evening isn't perfect, but that it's crucial to prevent the global economy from grinding to a halt. He then warned it will take a while to work and that the economy is going to struggle even with its passage."

So they will probably pass it just to get something out there, unless it is still a COMPLETE mess, because they wouldn't want to do more damage than good.

All in all if you are feeling uneasy about holding to all of your shares, I would just do what BadThad did. It's a great strategy and I wish I followed it in this case.

[BadThad]

NCC printing $4.10! :dance:

[BadThad]

Okay then, I guess I'll be answering my own question!! :lol:

Yes, I am confident and optimistic about the bill being passed. I think NCC will float past $4.50, maybe higher and we will all celebrate this weekend because this type of stuff only happens once in a blue century :lol: And I also think after hours today will be pleasant as well as most of next week. :dance:

I have a stopper at $2.75 just in case and I'm not afraid to use it :rotfl:

That's a good a guess as any! :biggrin:

[Volatile22]

That's a good a guess as any! :biggrin:

Strap yourselves in. The bill is going to be passed. Currently voting and the yays are trippling the nays already.

[BadThad]

Wednesday is the dividend date. What do you guys think? Is this worth holding at least through part of Tuesday? Or are you guys taking things 1 day at a time?

...There is also a conference call and earnings report on Tuesday the 21st.

Well, this divy has no bearing on my holding since it's only 0.01. If you hold 1000 shares you'd only get $10. LOL It's a token dividend and nothing more...just to boost investor confidence.

My goal is to sell enough to make some green and hold some free shares for long. Hopefully, I'll only need to sell half my position to get this done. :)

[Volatile22]

Getting ready to say goodbye to my shares:

Down to $3 at 2:33pm

It was nice knowing you NCC, fun while it lasted.

Yea I don't get it, lots dips in the market right now. Not quite the reaction we were all expecting.

Very interesting, something smells here.

[Pilgrim Zero]

Getting ready to say goodbye to my shares:

Down to $3 at 2:33pm

It was nice knowing you NCC, fun while it lasted.

Seems to be climbing back up slowly now. If I had to guess I would say that after hours might be enjoyable for all holding. Though that's just my guess.

[BadThad]

PS: My thinking is that if the markets had such a terrible week: S&P 500 down 9.38%, DOW down 7%, and the NASDAQ down 10.81% for the week, then it should be followed by a good week.


That's what I'm expecting....but this market doesn't follow any type of logic. |-{

[BadThad]

I have 600 shares on a free ride! Sold the rest in the pre-market for a small profit.

Nice move! :)

[Volatile22]

Well starting to feel better about my full sale at 2.65, but I still left a lot on the table. It was a good experience. Man do we have a long road to recovery here.

[BadThad]

I sold most of my financials this morning, too much going on for my risk appetite right now. :-||

[BadThad]

Well, that's pretty good news, but I don't think it will be enough to get the market going. This down cycle is very, very strong....cash is king right now IMO.

[BadThad]

As you guys can see, I was absolutely correct. I knew the day before I sold, something like this would happen to NCC:
National City in talks with potential suitors: WSJ - MarketWatch (http://www.marketwatch.com/News/Story/Story.aspx?guid={B398C1D3-4F61-4006-A328-114617B2917C}&siteid=yhoof2)



I am thinking about jumping in at $2.64 and selling 20 cents higher or so but it is too risky.

OMG! That's huge news! I didn't think NCC would do that, things didn't look so bad on paper for them IMO. Thanks for the update.

[BadThad]

$1.76 right now, do we have any brave investors out there?

...I'm too scared but if it gets closer to that $1.25 low point it will be hard to resist. And the buyout news may come this weekend?

Buyout or bankrupt? NCC is real scary of late.

[Volatile22]

Wow this one really turned for the worse. down to 1.89 now.

[TNTrader]

National headed for a rough patch.



National City's 3Q loss widens, job cuts planned: Associated Press Business News: NCC - MSN Money (http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20081021&ID=9298369&Symbol=NCC)





Good Luck

[TNTrader]

And another one bites the dust.


Banks getting capital, National City sold: Thomson Reuters Business News - MSN Money (http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&date=20081024&id=9319812)



Good luck

[Volatile22]

National City, a Cleveland-based bank battered by soured mortgage and construction loans in the U.S. Midwest and Florida, agreed to be acquired by PNC in a transaction valuing it at just $2.23 per share, 19 percent below where it closed on Thursday and 94 percent below where it traded in March 2007.


Is NCC still being sold at 2.23? NCC is down to 1.4x