ONEI big vol double bottom

[metro]

Up today after making double bottom yesterday - maybe only a dead cat bounce but worth looking at sa they have had very nice runs in the past. - here is long term chart

[Amarens]

Metro,

I don't perceive this to be a double bottom.
In the case of the double bottom, a significant downtrend of several months should be in place.
The first trough should mark the lowest point of the current trend.

In ONEI's case there was an uptrend before what you point out as the first trough.

Further to make it a true double bottom, there should be clear evidence that volume and buying pressure are accelerating during the advance off of the second trough and result in an accelerated ascent. In this case that is not showing yet.

I do agree that it has potential now to go up to about $ 3,-, which is still a great trip 

Will put it on my watchlist for tomorrow 

Amarens

[metro]

Amarens -

Well yes I use the term loosely as there are many ways to interpret a term. You got the point anyway. It was at $1.74 and dropped to find support at $1.15 a year and a half ago then went up to over $3 and then back to $1.15 and bounced. It may not be every person's definition of a double bottom but it generally fits the same. The term is not so important as the chart and the possible opportunity. Lets say it is double bottom-ish   


It ran into 9-day resistance and the next resistance may be at  trend line as shown

[Amarens]

No problem. Also just for people who want to learn. And I'm one of them 

Curious to hear if you are in?

Amarens

[metro]

Yes I bought yesterday as the volume was so high and I remembered when it doubled last year and I could not figure out why a silverware company was doubling on no news. With stocks that run up on no news I take some profits soon then trade in and out so limit losses or almost eliminate them.

[metro]

it added another 14% today but volume only 4X  and trend line close so may now have problems gong much higher before some consolidating.

[setravis]

Looks like it is time to check in on this one.
May be wanting to do a reverse in the trend.
Support @ 0.74...0.65...0.56
Resistance @ $1.00...1.17...1.40

Recent CandleStick Analysis
Bullish
Dec-21-2005 Bullish Engulfing 

Technicals
Percentage Gainer

Last Price Quote is:
27.12%above 13-day EMA
35.83%above 50-day EMA

[waxweazle]

wow whatrs up with tihs is it a buy?

[evgeny05]

Hi
ONEI

[evgeny05]

Oneida Announces Comprehensive Prenegotiated Recapitalization
Thursday March 9, 6:00 pm ET
Tranche B Lenders Agree to Convert 100% of Their Debt to Equity; Oneida Obtains Commitment For $170 Million in Long-Term Financing; Operations Continue as Usual


ONEIDA, N.Y., March 9, 2006 (PRIMEZONE) -- Oneida Ltd. (OTC BB:ONEI.OB - News), a global leader in flatware, dinnerware and crystal for both the consumer and foodservice markets, today announced that it has reached an agreement with its lenders on a recapitalization plan that would reduce the company's debt by approximately $100 million and open the way for investment, innovation and growth.
ADVERTISEMENT
 




Terry G. Westbrook, President and CEO of Oneida, said: ``I am pleased that we have been able to reach agreement on a comprehensive recapitalization plan that substantially reduces debt and increases our liquidity. This has been one of our principal goals since we completed the transformation of Oneida's business. We've successfully moved from a manufacturing-based business model to one built on sourcing, distribution and marketing. As a result, our cash flow, operating profit and margins have seen steady improvement, but we are still burdened by an unmanageable debt load.''

``The recapitalization now underway is intended to improve our capital structure, which in turn will facilitate our continued progress and growth,'' Westbrook continued. ``Oneida is one of the most widely recognized brands in the marketplace, and we are eager to build on its strength.''

``I am particularly gratified that we can undertake this process in a manner that minimizes any impact on our employees, customers, suppliers and business partners, who are so critical to our success,'' Westbrook added.

The recapitalization plan marks a further milestone in Oneida's progress since a new Board of Directors and management team were assembled 16 months ago. Under their leadership, the company has achieved several significant accomplishments, including:


--  Appointment of a new Chief Executive Officer, Executive Vice
     President of Worldwide Sales and Marketing and Chief Financial
     Officer, as well as the appointment of experienced executives to
     key leadership positions in sales, marketing, finance and
     information technology;
--  Reductions in operating, product and administrative costs;
--  Creation of a global procurement team to manage Oneida's
     extensive network of contract manufacturers in Asia;
--  Operational integration of the company's various product lines in
     order to leverage Oneida's strengths in brand, design and global
     procurement;
--  Opening a west coast distribution center to improve supply-chain
     efficiency and customer service; and
--  Development of a strategic marketing plan to drive growth in the
     company's consumer and food service franchises.

Recapitalization Plan Receives Lender Support

Financial institutions representing 100% of the company's outstanding Tranche B debt and 94% of the company's outstanding Tranche A debt have agreed to the recapitalization plan and entered into a Plan Support Agreement. Pursuant to the terms of the Agreement, the company intends to file a voluntary petition for a prenegotiated reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing is expected to take place on or about March 20, 2006.

A ``prenegotiated'' Chapter 11 petition means that a company will have finalized its plan of reorganization prior to filing with the court and received the requisite support for confirmation. This process is designed to be faster and more efficient than a traditional Chapter 11 filing. The Chapter 11 proceeding for Oneida should have no impact on its business operations, and Oneida expects to exit Chapter 11 approximately 90 days after commencement of its case.

Upon confirmation of the plan, all of the common stock of the company would be issued to the holders of Oneida's Tranche B debt. The company's $115 million Tranche A term loan would be refinanced with a long-term revolving credit and term loan facility from Credit Suisse. All of Oneida's existing common and preferred stock will be cancelled and receive no recovery. Accordingly, the company believes that Oneida's currently outstanding preferred and common stock has no value.

``Oneida's legacy debt burden left us no choice but to take this step. We regret the impact this action will have on our shareholders,'' Westbrook noted.

Vendor Payments and Customer Service

Oneida will continue operations without interruption during the recapitalization process. The company's working capital and liquidity positions remain strong and are expected to remain so during the brief reorganization process. The recapitalization plan only addresses the company's capital structure and certain legacy liabilities; therefore, it should have no material impact on its relationships with customers, suppliers, business partners or employees. During the pendency of the proceeding, the company will continue to pay suppliers for the delivery of goods and services on current terms, employee pay and benefits will continue as usual, and new product development and customer support will not be affected.

Only Oneida Ltd. and certain of its U.S. affiliates will be the subject of the Chapter 11 filing. It is expected that the company's non-U.S. affiliates will not be included in the Chapter 11 filing or be the subject of a foreign insolvency proceeding, and Oneida expects that the operations of its non-U.S. businesses will not be affected in any material way by virtue of Oneida's Chapter 11 filing.

Interim and Long-Term Financing in Place

In order to fund its day-to-day business operations during the pendency of the Chapter 11 proceeding, the company has obtained commitments from a lending syndicate led by JP Morgan Chase Bank, N.A. to provide up to $40 million of revolving credit financing. This financing, which will add to the company's current liquidity, is subject to certain closing conditions and to bankruptcy court approval.

In addition, upon confirmation of the recapitalization plan, a lending group led by Credit Suisse has agreed to provide up to $170 million of long-term financing, which will be composed of an $80 million asset-based 5-year revolving credit facility and a $90 million, 6-year term loan. The exit financing also is subject to certain closing conditions, including bankruptcy court approval.

About Oneida

[waxweazle]

Wow This Stock looks very nice.

Close day high??

and than gap up tomorrow...

Did the reades of the pr from 9.3. read it wrong?!

[waxweazle]

2 new researches!!

http://reports.finance.yahoo.com/w0?r=34410118:1

and

http://reports.finance.yahoo.com/w0?r=27254423:1

Why they reseach tihs company ?! because this company is shit?!

No

[waxweazle]

Any thoughts on the price target?

Realtime 0,115 und it run!!

Read the news from Friday and than the downmove!!

When you read it you see that the drop down is not correct because the chapter 11 were out....
And in this messnage they thank about payback the loan und on goning concern!!!

[Stocky2000]

hey wax i bought some on this nice retracement...i am in at 0.087....

[waxweazle]

hey wax i bought some on this nice retracement...i am in at 0.087....

Hey,

Good Entry but keep care the move from 0,03 to 0,19 were an MM play. The Gap is filled.
On news this can run but eithout news the mm will slide it down.