is...hopefully making money
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FWIW I just spoke to a lawyer and learned that if they successfully sue via a large lead plaintiff, they will then move to class action settlement and will reach out to all investors who bought shares prior to March 22nd 2012. It will probably be two years before that happens, but you may be surprised to learn one day that you are entitled to settlement money.
Probably a lot. We are in a very strange bad news is good news and good news is great news situation right now thanks to Ben BerYankMe's "I've got your crack rock and pipe waiting" approach. VIX will roar when things get bad enough that even a crack rock won't lift them up anymore.
Problem is it's predictable. Everyone knew jobs were gonna be bad so there is no volatility. We are on the same side of the trade as everyone else. VIX won't pop again until something major or unexpected happens like the actual financial collapse of a country or Iran getting bombed, etc.
Futures are being manipulated and that is all that is going on here. Some hedge funds have gotten together and realized that the can run up the futures contracts and make money by going long on leveraged bull ETNs and short bear ETNs.
Simple as pie. Spend $1 billion running up futures and make $2 billion shorting every leveraged bear ETN. Until volume comes back or until a major market event happens, retail investors are at their mercy. They can literally run this thing down to the pennies.
Ben BerYankMe has been buying stocks for over a year now. It's very clear how this works. He tells a few hedge fun managers that he won't let the S&P drop below 1300, encouraging them to buy. Then any time the market starts to break downward, he steps in at 2:30 and starts buying stocks to drive the market up. Easy as pie, especially with low volume. Whole God Damn rat filthy system is phony, rigged and rotting and one day in the near future the whole house of cards is gonna crumble. There will be no middle class when this game ends.
Think about it this way - CS is a sinking ship, laying off huge portions of stag an selling off assets to stay afloat. If they can scam investors using a loophole like ETNs to the tune of a few billion dollars and then turn around and settle lawsuits for 50 million, they still pocket billions. TVIX is a scam being run by a desperate bank run by crooks. Sell on the next bounce and save yourselves a ton of grief.
HONG KONG - As the Chinese economy continues to sputter, prominent corporate executives in China and Western economists say there is evidence that local and provincial officials are falsifying economic statistics to disguise the true depth of the troubles.
Record-setting mountains of excess coal have accumulated at the country’s biggest storage areas because power plants are burning less coal in the face of tumbling electricity demand. But local and provincial government officials have forced plant managers not to report to Beijing the full extent of the slowdown, power sector executives said.
Link to full article
Nothing but international crowd control. 2008 should have been the start of a depression. Standard of living actoss the world had to come down...a lot. When local lawncare folks and plumbers are making a quarter million a year, have three cars, 5 TVs and a half million dollar house, we've over extended our lifestyles.
We'd be on our way out of the depression by now with a new, realistic standard of living but instead governments decided to print trillions of dollars to keep the charade going. In time the system will cleanse itself. Can't fight natural law.
Don't forget that China's housing market is about to collapse and that will dwarf the American housing collapse. My Uncle owns a metal recycling plant and he says it is like the faucet was just shut off in China. He was selling a few thousand tons of steel a week to China and he has literally had to stop accepting newly recycled steel because demand from China has stopped in its tracks.
Also, don't forget that Egypt is on the brink of anarchy again.
Oh yeah, France just went majority Socialist and Hollande and Mirkel are swapping jabs that have been known to start wars in prior history. Proves that a unified solution to the Euro zone crisis is highly unlikely. My bet is Germany is the first country to leave the Euro and it happens within the next 24 months.
Whole system is rigged. Big money knows retail have taken positions in VIX and VIX based ETNs and are manipulating the entire market. They can't screw us in long positions because nobody is long, so they run up the market to squeeze the shorts and volatility plays. It is a perfect system designed to steal retail investor' money. They have it down to a science. Best thing you can do is the exact opposite thing you would normally do because you are retail and big money will trade against retail 100% of the time.
Agree, nothing but unpolished turds wrapped in toxic bubble paper. This was a $10k lesson for me. Next time I'll just pay someone $50 to kick me in the balls and call it a day. It will feel the same but be over a whole lot quicker.
It still makes no sense. If they stopped issuing shares, why didn't it rocket up when volatility spike? Thus POS makes the good times bad and the bad times worse with no rational explanation for why. It NEVER appreciated at 2x the VIX during the recent spike. While damn system is rigged. We are not safe anywhere.
It is 2x the VIX when the VIX is going down, just not when it is going up. Either CS is F$&$& us over or we are on the same side of the bet a everyone else and therefore in the worst ever in history contango.
Can the contango really be this bad, or are the bastards at CS issuing new shares and killing the longs? This tool is completely broken. VIX up 10% yet somehow TVIX premium barely budging. I smell a rat.
If it drops below $5 they are required to do a reverse split. This is crazy, approaching 52 week low again like there is no volatility or concern in the market. I guess an entire continent going bankrupt is not scary anymore.
I'd go so far as to say the Fed has setup shell investment companies to trade on the open market. Ben creates imaginary money and manipulates the low volume market buy buying. Look at the tapes over the past 6 weeks. Almost every day someone is in there providing support from 2 pm till close.
Fear indicators also have also have someone keeping a lid on them. I'm certain of that. As soon as VIX rallies someone starts shorting it and put volume rises on futures. Hmmm....geeee.... Who could that be?
The more money the Fed and ECB print, the more tight the coil becomes. The market is so artificial now thanks to Ben BerYankMe that the only hope for traders is for world powers to hit the printing presses. Retail investors have caught on and are out of the game, which is why there is no volume. The fund managers are continuously catching pennies tossed by Ben with their quant machines and that's all that's going on.
When the music stops, the big flush will come and this turd of an artificial market will be cleansed. I suspect that day will make the flash crash look like a small hiccup. I have my TVIX GTC order out there and it is somewhere north of 100% of today's price. I'm confident it will hit in the next 6 months.
Catalyst may be EU, Iran, fiscal cliff or the fund managers may just decide to come back to Earth.
I am not hoping for the demise of the US, but I am cheering the demise of the current artificial market and the hope for a return to sanity after the cleansing occurs.
Spain getting as much as 100B Euros and Germany now bending on Eurobonds. Market will be up 300 on day Morning and TVIX will be sub $6.
severe contango prevented this broken tool from ever getting the run it should have gotten two weeks ago when it looked like the maker was falling apart again.
So what do you guys think, has the company completely given up on their Shareholders? Not a peep from them while the stock price tanks 50% in under 2 months. They dropped out of the R&R conference with no explanation, they didn't provide any clarity to the Redchip PR and no comment from them about the stellar (if true) Q1 financial results. WTF is wrong with them? Something stinks like dead fish to me.
It looks to me like the company has started buying back shares.
"They are pieces of shit."
:) Agree as are 90% of these Chinese small cap management teams. I put BSPM, CKGT, WKBT, LTUS, JADA, BFAR and about three dozen other small cap mgmt teams in that same category. Every one of those POSes that claim to have millions in cash on hand but won't spend a penny of it to benefit their shareholders (probably because it does not exist), let alone take the time to put out courtesy PRs to acknowledge the existence of their investors in the wake of massive PPS erosion.
These small caps are getting PE's of 1 and 2, which is probably more than most of them deserve. I've been trading them or shorting them like the rotten prostitutes that they are, nothing more. That is all they are worth.
I'm with Glen Bradford - China is one huge Ponzi scheme that is going to come tumbling down sometime in the next 5 years. When people want to compare China to the US like they are some sort of force to be reckoned with, they should stop and recall that they can't even get a majority of their population clean water and uncontaminated food.
Pappy, it is clear that nobody believes their numbers and that this isn't going to change for the better without swift action from management - which I wholly believe is not going to happen. This is just another Chinese company that is questionable due to the fact that their management team is sitting on their ass while shareholders take a brutal pounding. No response from them about RedChips's PR, no PR about their quarterly numbers, no announcements about plans for use of their cash. Because of these reasons, the market is fairly valuing this stock at under $1 which is where it belongs until they take the steps necessary to show any sense of fiduciary responsibility to their shareholders. I put half my shares up for sale already and if we don't hear from mgmt soon I will be dumping my remaining position.
Every public company has to do two things properly to command a meaningful valuation; run the business legitimately and well, and maintain good investor relations. Without good IR there is no way to know if they are doing the first properly. How can anyone feel comfortable maintaining a stake in a company that they don't know at all because they mgmt team doesn't communicate the state of the business, especially in the wake of severely eroding valuation?
This mgmt team is shamefully unresponsive and, in my recent experience, shamefully unresponsive = fraud.
I just see such a conflict of interests, same as I do with Pumper articles. "I am short, but you need to believe me that this really old data and high inventory numbers that have been refuted by the company really are fishy. Please dump your shares so I can cover." Same old song and dance. Some have been true, and it is not outside of the realm of possibility that this one is too, but I grow wary of anything from SA as they seem to be a machine that simply cranks out pump and slam articles that have a common attribute – they possess very few facts and a whole lot of opinions.
The trading does seem very suspicious. The way it just hung around 4.50-4.60 while millions of shares traded. Not at all what I expected and doesn't seem very reasonable. Who was accumulating that many shares there? Was that all shorts covering as retail exited in mass?
Nothing but a short trying to prevent his own castration. The inventory issue has been addressed by the company and is this dipshit really trying to compare margins based on commodity prices using data from 2004? Weak sauce. I smell another lawsuit coming. SA is the most reckless and disingenuous online investment sites out there. Nothing but blatant, unsubstantiated pumps or hit pieces come out of there. Pure garbage.
2k order just went through at 3.50
Sold my $4.70's and got them right back at $4.30. I'll be hanging tight now until mid-high $5's. If they do us right by the buyback we could be there early next week.
Added earlier as well at .165.
I'm with you on the Divi being a far superior tool for delivering shareholder value, however that is much less likely IMO. These Chinese CEOs seem to have great distain for giving money back to Western investors. Buybacks at least "keep it in the family" for them. Acknowleging that attitude exists doesn't make me happy, but I'll take something over nothing.
Integrity of the numbers ? About like everything else in this space ......
So true. It gets more cloudy when even the seemly legit companies won't buy back their own shares at PEs under 4, and heck, sometimes even under 2 or 1. Many of these Chinese CEOs have a lot to learn about capital markets and fiduciary responsibility. I had hoped that the most recent RTO shakeout would have modivated some of them to wake up, but I guess that was wishful thinking.
Thanks for the response.
This stock is one of the most consistently disappointing ones I have ever seen. Nothing but a slow, gradual decay in PPS. Down 72% over the past year and still dropping 5% a week.
Another Chinese company that claims to have millions in cash on hand ($15.3M) and positive cashflow but won't issue a dividend nor buy back its shares at a pultry 2x earnings. Looks like this one will end up sub $1 and eventually fade away into the sunset like so many others.
Hey Joe - what's your take on the lack of a PR from the company about the latest quarterly earnings? It is concerning to me given the caliber of the numbers that they claimed. Have you heard about anything coming down the pipeline?
Hey Burrrp - what do you think about BFAR at these levels - good for a swing trade or did you book your profits at the last runup and call it a day?
Yep, I dumped my remaining shares this morning. Any price greater than Zero is a successful sell at this point because this stock is worthless IMO.
Yeah, the only prayer shareholders have is a buyback or divi and I am not inclined to hold my breath for either. If you don't buy back shares when you are trading at a PE of 1 you might as well hang a banner over your corporate headquarters that says "Fraudsters Inc."
That is not the impression that I got at all by the report. They clearly indicated that the increase was for existing staff to promote loyalty. If it was an increase in the sales force they would have, or at least definitely should have, mentioned that.
Anyway, I wish you the best of luck and I do hope long term it goes up for you. For me, I'm out. It simply does not interest me to park money in a stock that is clearly going down in the short term and will rely on management to turn a major corner in the business to hope to return to previous levels. Especially when they are giving themselves big raises while shareholders are getting bent over. It is hard enough for Chinese RTOs to get a decent valuation, let alone for a company whose profits are declining and management is pulling stunts like that.
First week of June for the 10Q?
So they would have to file by this Thursday then, right?
Pappy, what's your take on this morning's price action? Looks like very few believe the numbers. $.37 in Q1 and the volume is low and can't even seem to get anywhere near the 50 day MA. Shoot, over 100% YOY growth and it isn't commanding a PE above 1.