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What I find unbelievable Bull
Is that anyone would think of investing at this time in a stock which is so poorly perceived that the total of two days stock trades are summed up by one trade 0f $196 and another (illegal) trade of $9.
But then again, CAPC is a Laughing Stock.
Sigh, Bull it's not about picking up shares!!!
It's about getting a "free" tax write off
It's of value to those who don't have all of their marbles invested in a single losing position but have other stocks where capital gains can be offset by their CAPC losses thus limiting the capital gains tax bite on those profitable holding.
It could even be used to limit a future tax bite on CAPC.
As far as the danger of CAPC making some spectacular announcement within the next 30 days I find that unlikely. Buying the shares back after avoiding the Wash Rule period should not be a problem.
As you have indicated that your CAPC holdings are profitable, the exercise I have proposed does not apply to you; it only applies to those holding shares at a loss!
Hey, that "fire in Stewart's belly" - that's probably an ulcer.
Did you notice the number of shares traded today - Zer0!
SKUNKED AGAIN!
Good point Bull
However the problem is not so much on the Sell end as it is on the Buyback.
Selling, you don't care too much if the stock is forced down a bit because the loss will be written off against profits and can be carried forward to be used in future years.
To make the deal most profitable you have to be able to buy back in at close to, and preferably below, the price for which you sold your shares.
If you try to make that Buy in a single trade you may cause this thinly traded stock to jump up and away from your bid, just like the decline you warned about for a large sell.
So if the stock is thinly trading in mid-January you would buy back in in several incremental lots designed to not wake up the neighbors.
Remember too that I am anticipating the price in January to be lower than it is today which makes the ploy even more viable.
Bull do you have a URL
For the MSCI news flash that you referenced? Alternately, could you copy and paste it here?
Thanks
Bull, Folks looking to take a stock loss
Don't really care if the price drops. The point is to capitalize the loss for use against current (and/or future) gains. If the price drops, well you're planning to buy the equivalent number of shares back in 30 days so if the price then is below what you sold for you're a real winner.
Even if the price has bounced back to somewhat above what you sold for, you are re-entering with the idea that the stock is going to soar in the next year.
For those sitting on gains the ploy is probably to tough it out and grin and bear it through another fall off of CAPC pps in the interval between now and the approximate March 15 release of earnings.
Good problem to have (I have it too)
I can't take my own advice because I'm sitting on a gain also. (As of the last trade today a little over 95% paper profit) although this can fluctuate wildly along with the individual trades of this laughing stock.
I certainly agree that if management has learned anything from their plethora of remarkable blunders they should be approaching a significant level of corporate expertise.
Here's an early Christmas present for CAPC stuckholders
If you're holding shares of CAPC at a paper loss SELL your shares now!
Taking the loss will give you a write-off against gains you have taken on other stocks during 2015 PLUS the opportunity to write off $3000 against ordinary income for 2015.
"But, but, but" you sputter, "CAPC is poised to have a great year in 2016, why should I sell?"
The answer is in a neat technical play governed by the "Wash Rule". After thirty days you can buy back those shares, or more, without jeopardizing that nice tax write-off.
The odds are that during January you'll be able to get back in at the same, or even a lower price than you're seeing today and well in advance of any price spike caused by favorable earnings to be reported weeks later.
This play takes some guts but it is virtually a guaranteed winner as long as you observe the 30 day wash sale limit between sale and buy-back.
You're welcome and Merry Christmas.
Bobbo, You'll have no problem buying under .020
I was hoping for another 100k or more under .02.
Oh our pathetic painter was around, Diz
And Friday is normally his favorite day to play because he can "skew up" the statistics for the whole week's close instead of just the day's.
No, he was over on the sidelines kicking and screaming like the little brat he is because he couldn't "paint the close" today.
Poor little delinquent, the ask at the close was the same .022 as the last trade recorded at 12:22 rendering him impotent.
LOL!
Thanks for that information Mr-Mem
I am wondering if any brokerage houses allow "market order" trades on CAPC. I personally doubt that these wild fluctuations in recent price were the result of any such "market trades".
I would like for those who feel the opposite to support their theory because, frankly, I do not know for a fact one way or the other.
But I'm not afraid to ask.
Some brokerages prohibit "market orders" on pinkies.
Actually I don't know of any who do permit this, and the reason is to prevent amateur investors from getting caught by drastic fluctuations on thinly thinly traded, volatile penny stocks. For the same reason many also prohibit "Stop" orders on these stocks.
Obviously CAPC is such a stock.
(Anybody know if their broker allows such trades on pennies?)
Of Course it was, Diz
Checking Walmart for other Capstone products, hopefully available in-store, the only other one I could find was the Capstone 2-in-1 10-LED Wall Plate, again apparently available on-line but marked "out of stock"
Good point about the price on e-Bay. What surprised me is the apparent quantity of these units being dumped at this time, and I rather doubt they were all purchased from Midland Hardware.
Still wondering where that 7Mil of product revenue ended up for resale?
O.K. Gang, here's a WEIRD!
This popped up, unbidden and unasked for, on my browser from Walmart's on-line site.
Be sure to scroll down and look at the various places offering this Capstone product. Gaze in shock and awe at the range of prices (from $10 to $96) for ONE of these units..
Remember too that this same Eco-i-Lite is readily available on E-bay.
I apologize for the horrendous URL, but it is what it is:
http://www.walmart.com/ip/CAPSTONE-INDUSTRIES-INC-3-in-1-Power-Failure-Light/45837051?veh=dsn&wmlspartner=criteo&sourceid=crimid789012345678901234567890123456789090123456789012345678901234567890
Great Call mr-mem, you nailed it.
About an hour after your "prediction" that 500,000 shares DID show up at an ask of .021
It quickly disappeared without filling; guy would have made a quick $500 less commissions for little effort but still has a good chance of succeeding later.
WOW! Somebody got the "munchies"
Right after MrMem's 104,000 buy cleared somebody stepped in and took out the whole Ask Size of 508,681 shares in one GULP.
That's allowed the ask to rise to .0209 but there are only 10,000 shares currently offered at that price.
Interesting?
abcddavis, some theoreticals:
You're correct in that if I or any other large shareholder wanted to get out quickly it would involve having to accept constantly reducing returns while walking the stock down perhaps to finally an unprofitable level. Might still come out ahead on averaging.
However someone not desperate but desirous of cashing out can simply keep a fixed ask in effect for thousands of shares thus "capping" the stock at that level.
There's no way around him, buyers have to go through him before the price can rise. No problem for those who think the stock is undervalued but still a nuisance relative to the public perception of a "strangely stalled stock".
And it would behoove a large seller to use "day" orders, renewing them at the open, in case there was a change in conditions; a major news release for example.
Good Points Flp
As I recall, Involve was also supposed to get a couple of board seats out of the deal. Of course Capstone hands out rights to directorship like Mardi Geas beads, perhaps not as pretty but apparently equally worthless.
Along those lines I liked your comment:
Insiders get the double benefit of being paid to oversee this money machine.
LOL Dizzy
Yeah, I could have easily put in a "sell" for a million shares at .02 and had a gain of 53.85%.
But I didn't (although sometimes I am tempted)!
chdobull, While I appreciate your position
I cannot really comprehend why someone, even in a fit of financial desperation, would dump a "sell" of a million shares on the market at .02 if he believed in the current management.
So if he wants out just to pocket some funds, why not put the sell in at .029-.030? After all, for the past two days the stock was trading at highs of .031-.032 on equivalent asks.
Looks like somebody got the word.
Another nearly 200k shares traded at the ask of .02
Bid remains at .018.
Interesting day.
Starting at 10am
I am showing 100,000 shares in one lot traded at .02.
I am showing ~111,000 shares traded, in multiple lots, below .02.
Bid now UP to .018.
Anybody want to buy at these bargain prices?
Surprised?
If you were surprised at .02, what do you think of that trade at .0176?
With almost 3/4 million shares openly available at .02 and the bid flirting with .015 it appears our illustrious CEO has garnered the same respect, or lack of it,for his performance that has plagued this stock since Wallach took the reins.
(As I write this the bid has soared!!! back up to .0175.)
I hope not too many got caught buying at .02.
What? Me Bullish?
Well what the heck; I've been there before and done that! (Profitably too)
Basically Townie I anticipated a move further "uptown".
The following,redacted from a legal treatise, expands on the qualification requirement for directors of Exchange listed stocks:
Qualitative Listing Requirements
...... an issuer applying to list its securities on an Exchange must also be able to satisfy certain qualitative requirements, including a number of corporate governance requirements. Most notably, a domestic issuer1 must have in place:
a board of directors comprised of a majority of independent directors;
a chartered audit committee comprised of at least three independent directors3 who are able to read and understand fundamental financial statements, have not participated in the preparation of the issuer’s financial statements during the preceding three year period and one of whom qualifies as financially sophisticated;
means by which director nominees are selected, or recommended to the board for selection, by either a chartered nominations committee comprised entirely of independent directors or a majority of the board’s independent directors;
means by which the compensation of executive officers is determined or recommended to the board for determination by either a chartered compensation committee comprised entirely of independent directors, or a majority of the board’s independent directors; and a code of conduct and ethics.
Network,Cautious optimism is certainly prudent
Opening up international marketing could be a nice touch, My own feeling however is that focusing on penetrating domestic markets with increased efficiency should be the immediate goal. Over extension could be more than they can handle with their limited personnel resources.
And relative to:
it's time to start putting Kei Advisors to work.
I agree Townie, particularly with this:
Being on OTC Pinks is hurting this Company
Best news was not the 3rd quarter results
In my opinion, the very best news is the backlog existing in the 4th quarter, The company has previously had difficulty in stringing highly profitable quarters together so this may indeed signal the onset of the long awaited breakout.
So, Pleasant Dreams everyone!
Dizzy, Re those automated bid increases
about that .0201 bid,there's something automated going on
Right-on Brother
Me too!
chdobull, it's fairly simple -
We've all been here so many times before that the attitude has become "Don't tell us how great it's going to be, just show us the damn money with some firm assurance that this is not going to be a repeat of 2014"!.
(If you recall in 2014 the 3rd quarter ended with supposed "record backlogs extending through the end of the year". In reality, due partly to some revenue manipulation, the 3rd quarter 2014 did record record revenues although relatively modest profitability. However, the 4th quarter results which were also supposed to benefit from that "record backlog" turned out to post the greatest single quarter loss in Capstone's history dating back through 2007)
Perhaps this explains some healthy skepticism about this company's ability to follow through on their future performance despite anticipated stellar results for the 3rd quarter.
As the 4th quarter is already half over, and for practical purposes considerably further along than that relative to order shipments/revenues, it is not only possible but mandatory for the company to provide accurate guidance at this time to their loyal shareholders relative to year end results.
Townie,you and I have both posted previously
that the stock needs daily volumes in the millions to attract attention and also to form a viable trading platform where there is a sufficient market for traders to easily enter or leave positions without being stuck.
A jump to 2M shares/day would cause some immediate notice but at these price levels 5M daily would probably be in the lower limits to continue attracting nvestors. These goals are not excessive; we've been there in the past!
But the company must give us some consecutive quarters of decent, profitable revenues for this to take place.
Good one Townie, Let's switch roles :).
Didnt you notice that CAPC had traded almost a half million shares by 1100 am and had already surpassed the highest daily volume since October 15th, a month ago?
Where the Hell is everybody?
I agree with "U".
Let's hope the upcoming numbers and conference call will be all we could possibly desire.
Maybe get some good publicity that we will be really happy for people to see.
Why I frequently post about "Marking the Close"
That act constitute what has become an ongoing felonious assault against our stock which makes a mockery of CAPC and renders Technical Analysis impotent. This is a legal matter. As such I am posting frequent specific references to many exact "paints" which may form a useful historical record if it becomes necessary for one of several entities to either launch their own investigation or institute prosecution
I have worked with the SEC on more than one previous occasion. It is a given that they are generally swamped with complaints and therefore "the squeaking wheel gets the grease". Thus, a recommendation to "Contact the SEC" is not the most practical way to get action on the problem.
Instead,the way it is done, and being done, is to work through other, more directly accessible agencies, who are in-turn capable of gaining rapid, direct access to the SEC, NASD, FINRA, or any number of other alphabet agencies.
I do hold the best interests of CAPC holders at heart. I too own a considerable amount of the stock and definitely wish to keep those holdings profitable!
But not "by hook or by crook"!
The Reuters report wasn't good; IT WAS DEVASTATING!
It's excellent to know that Reuters Is doing analysis reporting on CAPC.....Nothing but good can come out of that kind of publicity.
You're correct Townie
BTW no one is buying 200 shares every day at the closing.
Here's the story of the 134 share trade!
Someone entered a BUY order at the open for 20,000 shares but filled only 134.
The reaming 19,866 shares filled at 10:29 at a price of .025 completing the order and dropping the price back down to around where it was before the tape was painted at yesterday's close.
Furthering the absurdity of this stocks trading pattern
I'm seeing CAPC fell 13% at the open on a trade of 134 shares at .024!
Is my service broken or are others seeing this also?
awaitingamove, Please share your source for this information
I don't see how you can state that "the profit on this 3rd quarter IS great"
.............IS???
If you based this on some Capstone managements statement that margins on new products will be improved, do you have information on the actual mix of products sold?
Do you have concrete information that the touted backlog actually generated equivalent revenues?
Have you seen what the actual Cost of Operations did to earnings. How many sweetheart loans and other hidden expenses affected the bottom line? Will that bottom line remain "great".
Personally, I'm going to wait for the 10-Q before commenting on the results.
If everyone felt that CAPC is doing great
We wouldn't have to put up with nonsense like this:
At 15:12:25 20,000 CAPC shares traded at the BID of .025. This was the largest trade of the day.
At 15:59:20 The BID was raised from .025 to .027 (40 seconds before the close)
At 15:59:45 400 shares traded at .027 - .028 (15 seconds before the close thus Marking the Close.)
CAPC, still a laughing stock!