CEMJQ Intraday Chart Analysis 11/22/09

CEMJQ Intraday Chart Analysis Parts 1 and 2.

Scottish Re Posts to Its Website Third Quarter 2009 Financial Statements

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Scottish Re Posts to Its Website Third Quarter 2009 Financial Statements

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© Business Wire 2009

2009-11-20 22:09:02 -

Scottish Re Group Limited (Pink Sheets: SKRRF) "Scottish Re" or the "Company", announced today that it has posted to its website its unaudited consolidated financial statements for the three and nine months ended September 30, 2009. For the three month period ended September 30, 2009, Scottish Re reported net income attributable to ordinary shareholders of $201.9 million, or $0.92 per

diluted ordinary share, as compared to a net loss attributable to ordinary shareholders of $713.9 million, or ($10.44) per diluted ordinary share, for the prior year period. The net income attributable to ordinary shareholders for the three month period ended September 30, 2009 was driven by net realized and unrealized gains of $191.1 million resulting from an overall market recovery of fixed maturity investments, as compared to net realized and unrealized losses of $475.4 million for the prior year period.

To view the financial statement documents go to Scottish Re's website at www.scottishre.com : .

About Scottish Re


Scottish Re Group Limited is a global life reinsurance specialist.

Scottish Re has operating businesses in Bermuda, Ireland and the United States. Its flagship operating subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., and Scottish Re (U.S.), Inc.

Additional information about Scottish Re Group Limited can be obtained from its website, www.scottishre.com : .



Scottish Re Group LimitedMedia and Investor Contact:Paul

Goldean, Chief Executive Officer, 441-298-4378

Champion Enterprises Files for Chapter 11 to Restructure Debt

Champion Enterprises Files for Chapter 11 to Restructure Debt

--- Obtains $40 Million New Credit Facility--- Operations to Continue During Restructuring Process--- International Operations Excluded from Filing

TROY, Mich., Nov 15, 2009 /PRNewswire-FirstCall via COMTEX/ -- Champion Enterprises, Inc. (NYSE: CHB), a leader in factory-built construction, today announced that it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is taking this action to improve its capital structure and further strengthen its competitive position. The Company's operations in the United Kingdom and Canada were not included in and will not be impacted by the filing.

In conjunction with the filing, the Company has obtained a $40 million debtor-in-possession (DIP) credit facility from certain of its current lenders that will be available to fund post-petition operating expenses and to ensure that it continues to meet its obligations to employees, customers, and trade partners. A portion of these funds will be available for use outside the U.S. to ensure the continued adequacy of working capital for the Company's non-U.S. operations.

The Company expects that this restructuring will be accomplished through a court-supervised sale of its operations. The Company chose to pursue a broader sale process in which its lenders and others may participate after opting not to accept a third party offer for the Company. To that end, the Company's investment banker has already received initial indications of interest from a number of parties expressing a desire to participate in this sale process over the coming weeks.

"Our Company has operated for many years with a significant debt load. As we've had to downsize to keep up with the declining markets, this debt has become increasingly burdensome," said Champion Chairman, President and Chief Executive Officer William C. Griffiths. "Despite our best efforts to reposition the company for diversified growth, the continued challenging economic conditions both here and abroad have negatively impacted our capacity for debt.

"As a result, management and the Board decided that the Chapter 11 process provides us with the most timely and orderly means to restructure our debt obligations and facilitate a sale and recapitalization of the Company so we can be best positioned to capitalize on future opportunities. Filing for Chapter 11 will allow us to maintain our going concern value for the benefit of our stakeholders while we address current market realities."

Mr. Griffiths noted that in response to the challenging housing market and impaired capital markets, Champion has already successfully implemented a number of initiatives aimed at improving operating performance, including the reduction of overhead costs, closure or idling of 15 underperforming manufacturing facilities in the U.S. since mid-2006, staff reductions at operating plants to better match current demand levels, increased focus on multi-family, military and commercial sales opportunities and enhancement of single-family home product offerings.

"Our balance sheet is the problem, not our operations. The next step in our reorganization is to restructure our balance sheet and position our company to capitalize on the anticipated recovery in the residential and commercial construction markets," said Mr. Griffiths.

The Company emphasized that daily operations are expected to continue throughout the restructuring. The Company filed nearly 20 "first-day motions" covering the continuation of employees and business operations, as well as post-petition DIP financing, the continuation of supplier payments, customer warranty programs and retailer rebate programs, and other case administration matters. The Company anticipates that these first-day motions will be heard this week. Pursuant to the relief requested in those motions, homes will be sold, manufactured and delivered as normal and employees will be paid and continue to receive the same benefits as before the filing.

"Despite the current challenges in our core markets, we still believe there are considerable opportunities in the factory-built construction industry in the future," said Mr. Griffiths. "Addressing our liabilities through the Company's bankruptcy filing is the last step in a comprehensive restructuring we began some time ago. We fully expect to proceed through this restructuring swiftly and with the strong support of our lenders. Throughout the process we will continue designing and manufacturing high quality products for our retailers, builders and developers."

The Company filed its voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware in Wilmington.

For further information please contact the Company's information line at (877) 857-7554 or (248) 614-8390 for international callers, which is staffed live Monday to Friday between 8 am and 6 pm eastern standard time or visit the Company's restructuring website at www.championrestructures.com.

About Champion

Troy, Michigan-based Champion Enterprises, Inc., a leader in factory-built construction, operates 27 manufacturing facilities in North America and the United Kingdom distributing its products through independent retailers, builders and developers. The Champion family of builders produces manufactured and modular homes, as well as modular buildings for government and commercial applications. For more information, please visit www.championhomes.com.

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=CJHBQ#getNews

Chemtura Corporation Institutional Holdings

The above chart is provided by AOL Finance. More info can be found at the link below.

http://finance.aol.com/company/chemtura-corp/cemjq/nao/institutional-ownership

Highlights of Chemtura Monthly Operating Report - Oct. 2009

ICC Capital Management Still Holding Shares of Chemtura

ICC Capital Management still holds a significant portion of equity of Chemtura Corporation. According to the MFFAIS website, ICC still holds all 21,961,432 shares of Chemtura equity. It was reported on 11/09/09 and current as of 9/30/09.

http://www.mffais.com/cem

Follow the money. ICC is still holding. SVP is holding. Although the weekly chart is looking a little bit bearish from the recent run-up to $1.48, Chemtura's recent MOR - Monthly Operating Report - showed that cash is up and book value is up to 1.47.

Montly Operating Reports are a barometer to measure a company's financial activity while in the Chapter 11 Reorganization Process.

The last quarterly report combined with this latest MOR is showing Chemtura's positive shareholder value.

CEMJQ - Possible Hint In Court Docs

Take note to section 4:

"Since filing the Declaration, the Firm has been retained by a potential purchaser of certain assets of the Debtors (the "Potential Purchaser") to provide transaction-related advice with respect to the Potential Purchaser's potential acquisition of certain assets of the Debtors."

...they used and repeated the term "Potential Purchaser" 3 times here folks...Something "potentially" is on the horizon here...stay tuned folks...

PS...The US Trustee has asked K&E to come clean according to a letter she sent out to members of the Chemtura Stock Alliance...definitely stay tuned folks...

CEMJQ - Falling Wedge Pattern

Okay kids, the CEMJQ chart continues to consolidate, and let's take a little deeper look into what it is telling us.

Since we have peaked at 1.48 a lil' ole pattern has developed here...and it's called a falling wedge pattern...A little info on it below...

Falling Wedge: We are currently trading in a falling wedge pattern, which is a pattern that develops within a bullish trading pattern or uptrend. This trading channel is a form of consolidation, and once it has finished forming the wedge, look for it to break out to the upside of the top of the channel. The more it touches each channel the stronger it becomes in regard to the breakout move.

The chart indicates a couple areas of support beyond the 55ema at .89. I've drawn a couple of support lines that were once resistance lines if you look at the left side of the chart.

I bet you are asking yourself, why in the hell is this happening? Well, not all stocks can go straight up, unless you are VRMLQ or DNDN!!! Those are some fun charts to look at.

It's healthy for real up-trends to have these rounds of consolidations. What causes them? Easy. Profit-takers and traders. Traders saw that 1.50 was the key resistance on the chart during the recent uptrend, and started taking profits, and others decided that they didn't want to sit in this stock for too long.


Investopedia Definition of Wedge:

Wedge

What Does Wedge Mean?
A technical chart pattern composed of two converging lines connecting a series of peaks and troughs.

Investopedia explains Wedge
Falling wedges indicate temporary interruptions of upward price rallies. Rising wedges indicate interruptions of a falling price trend. Technical analysts see a 'breakout' of this wedge pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the lower line)

CEMJQ Chart Analysis - DAY 12 of Current Consolidation Period

Okay folks, Cemjq closed today at .94 on anemic volume. We saw 733,597 in volume toay, Nov. 2, 2009, and it was about even with around 313,153 buys versus 393,091 sells. So we had a slight red inverted hammer form today. Let's take a closer look at the what these indicators are telling us.

The RSI (14) is at 45.74, and it has not been this low or even below 50 since July 2009, which was the tail end of the longest consolidation period post bankruptcy trading for Chemtura. It was sub 50 before CEMJQ started flexing on the markets during its prolonged consolidation period of @ 35 trading days, give or take a couple.

The MACD indicator is closing in on 0.00, and it hasn't been near this level since June/July of 2009 during that protracted consolidation period.

The full stochastics are below 20 for the first time since that same 35+ consolidation period back in late June.

The CCI (20) is nearing -100, and it has not been this low since that June/July consolidation period.

The PPO Oscillator is nearing 0 again, and again we haven't seen it this low since July 2009 during that big consolidation period.

Many of these indicators are extremely oversold, and the volume is thinning on this pullback, which could be setting the table for Chemtura's Next Monster Run. Although I feel we could be in for another big round of consolidation, which we are currently in the midst of here, I do believe good news has been hitting Chemtura's table and, in my opinion, it is being set for bigger moves ahead.

Longacre Opportunity Fund, L.P. Acquiring Chemtura's Debt

Longacre Opportunity Fund, L.P., has been acquiring Chemtura's debt recently. They have gobbled up over $600,000 in debt and could still be acquiring more. Recent filings at http://www.kccllc.net/chemtura show public record of Longacre acquiring the debt of Chemtura from other creditors.

They state that they hold onto their investments from bankrupt companies for a time period of 6 months to 2 years. Distressed Asset Management is big money, folks. They know something and see Chemtura will be good for the money, otherwise they would not be buying.

Here is their investment strategy taken directly from their website at

http://www.longacrellc.com/investment.html

	INVESTMENT MANAGEMENT INVESTMENT PROCESS Longacre uses fundamental research and analysis to identify attractively priced investments of companies that have filed for bankruptcy or are under severe financial stress. We invest primarily in bank debt, bonds, trade claims and equities with an emphasis on secured debt; our analytical abilities and resources devoted to trade claims represent a niche strength. Our principals and analysts source new ideas through direct sector/industry research, the media, public filings, broker/dealers and numerous professional relationships. The firm holds frequent internal research meetings in which principals and analysts present new ideas and discuss developments in existing positions. We apply fundamental valuation and qualitative analysis to determine relative value and prospective return on investments throughout a company’s capital structure. We may invest in more than one segment of the company’s capital structure if the opportunity is appropriate relative to risk while monitoring and assessing the variety of scenarios through which a company may emerge from bankruptcy, pursue a liquidation or complete a balance sheet restructuring. Trade claims represent a particular Longacre niche. We are not active traders; in general, our goal is to realize value by holding investments through the completion of a bankruptcy proceeding, debt restructuring or other significant balance sheet transition. Longacre’s principals, in consensus, make all buy and sell decisions. Longacre has a long-bias but will make short investments (up to 10% of the portfolio) to add return or, on occasion, for purposes of hedging. We do not use leverage as an investment strategy. INVESTMENT STRATEGY Longacre is not an active trader. Although our holding period is typically between six months and two years, the duration of a bankruptcy or debt restructuring can vary widely. Also, in certain situations, Longacre invests in obligations of stressed or distressed companies that may not go through a formal debt restructuring. Such companies may resolve their financial or operational difficulties through means such as the sale of a strategic asset, an operational re-organization or an improvement in market conditions, the timing of which may also cause our holding period to vary. We periodically hedge interest rate exposure by going short government bonds. We may use derivatives (primarily CDS) as both a hedging and an investment tool. Generally, we hedge non-U.S. currency exposure through short forward contracts at time of settlement and dynamically thereafter. Our equity positions derive primarily as distributions following a portfolio company’s emergence from bankruptcy. For additional investment information please fill out our form on the Contact page.

What is Price to Book Multiple and how does it relate to Chemtura?

What Does Price-To-Book Ratio - P/B Ratio Mean?
A ratio used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share.

Also known as the "price-equity ratio".

Calculated as:

Investopedia explains Price-To-Book Ratio - P/B Ratio
A lower P/B ratio could mean that the stock is undervalued. However, it could also mean that something is fundamentally wrong with the company. As with most ratios, be aware that this varies by industry.

This ratio also gives some idea of whether you're paying too much for what would be left if the company went bankrupt immediately.


CEMJQ CLOSING PRICE 10/30/09 = .96
CEMJQ BV BASED ON 3RD QUARTER RESULTS = $1.42 (PRICE ESTABLISHED IN PREVIOUS POST)

PRICE-TO-BOOK RATIO = .96/1.42 = .68

.68 PB RATIO = BUY NOW BECAUSE CEMJQ IS A BARGAIN ACCORDING TO THE PB RATIO.