Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I believe your correct. If it were an institution I'm sure they would wait for the shorts to finish the attack. I'm aslo sure we have a good trader in the game based on the milking of the shorts here at the end of the day.
So, I don't know anything. I just hope that company money is already in the game and that a smart trader is handling it. If so, let the shorts gget exhuberant and drop some more money in the pot. Get all the shares you can find as cheap as possible. Shorts already have ~ $24m in the pot and now they are facing $30m of new money. What do they do? Some say you can't beat the big money. Really? Who has the big money now?
Right. I guess why establisha floor if they will let you get it cheaper. If some good trader has CCME money i'm sure they will do their best.
Having someone like Goldman doing the trading would be nice. Thirty minutes ago I had concluded that a floor of ~ 8.22 had been established and that the company money was already in the battle, but now I'm not sure due to this drop to 8.15. Maybe an institution was on the 8.25.
If they are buying, and have decided to halt this at 8.20 - 8.25, and the shorts realize that their already 'invested' ~ $24M is up against $30m of new money, well it's all over. Except, if the company allows one more run lower after the shorts develop their double barrel release of false information over the week end.
I'm sure it took a couple of days to start trading. After all, trading is not their thing. Needed to find someone to actually do it. Seems they didn't buy my suggestion og letting burp do it.
Looks like the sellers recognize the floor also. They seem to have stopped any serious slamming. One hit on the bid and then they stop.
Wish I knew if the company was buying yet.
Bet swampmonkey knows?
Now from my last post -
Please don't misunderstand my faith in the SEC. After all they only have recently failed to detect the Madoff scam, a relatively small $50B problem. But I am sure the SEC will detect a problem in CCME when the short level is greater then the float. These guys are really sharp and I'm confident in them. After all, naked shorting has been the rule for many years and they have implemented no, none, nada, procedures to stop it while many are available. But they all required added paperwork for documentation of the source of borrowed shares when shorting and this has been thourghly stepped on by exchanges who actually run the SEC.
Retail traders count for nothing. What counts is high share volume, commisions, high frequency trading (actually a money making computer game which has nothing to do with investing), and generating adequate taxes to finance NY and NYC.
I'm sorry I got carried away. I have strong opions about many things. Tomorrow I'll solve global warming and the US tax structure.
I don't think you can ever stop this type of action.
You find the violater (assuming the SEC cares and is capable - big assumtion) shuts them down, and in 20 minutes they are activating their secondary network and continuing. All we can do is wait because ultimately they will have to cover the real shares, naked shares, and will be on the bandwagon with the rest of us for the price climb to approprate valuations. For we dumb (that's mostly me) investors that thinks that quality always counts, we make some money, but the smart guys that see the handwriting on the wall (joenatural, etc.), and unfortunately even the shorters, reap much larger gains.
I'm going out to cut my grass.
Must be some MM cooperation here -
I know, I know, know nothings like me always blame the MMs. Yes that's true, but just looking at the ratio of sells at the bid and buys at the ask, I wonder what is going on. Any opinions by you expert traders?
Agree -
Posted this before:
Cash and interest -
Nothing prevents the company from listing the actual accounts or products (CDs etc.) where the $140M is placed. It's not normal 10Q practice, but what the hell, this constant questioning of validity is not normal either.
Oops, also it would be nice if it were in company account names and not individuals names.
CCME - so, joe, do you think they are hanging themselves higher?
CCME - that dump at 15:12 was 6750 @ 8.1111
CCME - That's why ratobranco's idea is so great -
A preemptive article daring the rumor mongers to spread lies.
I like ratobranco's idea -
Now is the time for an SA article daring the shorts to now start spreading rumors. A little preemption is a great idea. After all, words is about all they have left to try to hold this down.
With retail investors now being confident, institutions the same, and buy back dollars arriving soon, shorts deciding when they need to depart, we only have daytraders playing games here. But there always seems to be lots of the later.
CCME - _Magma_s post on CCME, indicates monetary conversion from RMB to USD is not an administrative problem if for a business reason. Therefore, actual buyback could start soon and given as cooperative as management has been, I would expect they have it on fasttrack.
Wonder if the short 'group' is now on a conference call to develop their strategy?
Now the question is, are they prepared to execute a buy program. Likely not immediately. Suggest they give the money to Burp.
Believe they have the cash and are awaiting a decision. After all, likely they don't need all $140M for an acqusition or expansion and any buy back money will gain them at least 50% vice 2% interest. Is that a no brainer?
Yes organized and they are believers. As joenatural and burp pointed out, there are over 2000 Oct. 7.50 puts at a cost of 1.00 now. They have just begun. Tomorrow more selling due to margin calls and the impact of todays action. Then at noon, the rumors/lies/false documents or whatever. Eventually the SEC will catch up with them, however an interesting item to me on this site says that 25% of the shares owned are in South America? So SEC be damned as far as they are concerened. These crooks can be anywhere, be abnned from trading, change their accounts, and start all over.
http://data.cnbc.com/quotes/CCME/tab/8
On CGS, swampmonkey has an OTC Journal article.
It's on short attacks and here is a line from it: "It's coming- I can sense it. There is going to be some sort of smear campaign on this stock, and when there is, it is likely to be the buying opportunity of the year- assuming the company is not fraudulent in some way."
Now with shares available for shorting scarce (as if they weren't naked shorting) now would be their time to 'hit' CCME with a wild rumor to drive it to sub 6.50. Hope the rumor that the SEC is investigating all of these attacks is true. However, that won't stop them in this short run.
Close but no cigar -
but since its GTC you may visit 8.08 several times in both directions within the week.
IMO, shorts have no shares -
What we have is that we are killing ourselves. We believe that they are in charge. And Joenatural is being believed. We are selling and we get what we deserve.
Cash and interest -
Nothing prevents the company from listing the actual accounts or products (CDs etc.) where the $140M is placed. It's not normal 10Q practice, but what the hell, this constant questioning of validity is not normal either.
Oops, also it would be nice if it were in company account names and not individuals names.
Yes, but as systrader pointed out to me earlier, all they have left is to 'pull the trigger';
"What he's saying is that they've fully loaded their short positions to the point where they can't borrow any more shares and are now ready to "pull the trigger" and announce something critical via an article like the Muddy Waters or Citron BS so they can cover their short positions."
Got it. Yes, that option is yet to be done.
How can they 'pull the trigger' with fewer and fewer shares available to continue the shorting. They can go naked, if they dare, but I'm not sure they have any more ammunition or desire here. It seems that with ~ $150M cash that a buyback will surely be a better use for about $50M of that and still leave plenty for any future acqusitions or expansions. That cash can't be earning much interest.
Seems to be a pattern change here in trading. Yes, the shorts or daytraders continue to pound the stock, but it seems there are always buyers to pick up shares at the lower price. It seems to me, a true unprofessional in this stock game, that the institutions are the reliable buyers now of these cheap shares. If this continues, the shorts will eventually get their just reward.
This whole 144 'thing' shows how much management listens and cares about we shareholders.
First, Form 144s are not required to be publicly released. This one was just found by someone and exposed.
Second, it contained a mistake (amount to be 'possibly sold') that was not required to corrected. An actual Form 4 is the officiial and necessary document to allow sale for a 'five percenter' and the numbers on the Form 144 mean nothing if he had the shares for more than one year, which he did.
Third, the company spent money to put out a PR to stomp on a rumor.
I like all of this and can't wait for Tuesday although I'm sure I'll be happier on Sept. 7, 2011.
Think the shorts are 'conferring' on the implications if swampdonkey might have something in his post # 3452.
CCME - You missed one -
Did you see Fernando's post yet? Great ammunition.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53969941
I'm not a trader, but all of this buying at the ask is a good sign and I can't believe it is not institutional.
I'm sure this 7 Sept. media event is only because of proding by our vocal shareholders. And that's ok. It is necessary. I like the participants but have a few added ideas:
"In this event, Chairman and Chief Executive Officer, Mr. Zheng Cheng, Chief Financial Officer, Mr. Jacky Lam, other members of the senior executive management team, bus operators, representatives from CME’s customers, advertising market experts will provide an overview of the Company's businesses, its growth strategy and industry outlook, followed by a question-and-answer session. Attendees will include institutional investors and research analysts, all of whom will also be visiting bus stations, taking bus tours, learning more about the broadcasting system installed in buses operated by CME and also visit the Company’s headquarter."
Would like to see some auditors with green eyeshades, the $150M in cash on a table for display, and just to make me happy, a symbolic public execusion of a 'short' guy (if you know what I mean).
The more the shorts 'talk' rather than just trade, the more I see they are in great fear. Expecially as the China ecomonic news is good today and they expect a China crash.
CCME ups and downs -
Right now I'm just wondering if I might possibly loose all of my money playing this thing.
CCME Form 144 -
The form only registers the shares. If this owner is a '5 percenter' he must still file a Form 4 to sell. So don't get excited. I have done provate placements, filed form 144s, and this doesn't have anything to do with selling.
CCME Form 144 -
A form 144 is used to register previously restricted shares which were obtinaed through a private placement in the past. It has nothing to do with a decision to sell them, but of course you can't sell restricted shares until registered by a 144. Filing this requires no public notice. Also, I believe that this doesn't change the share count as they are already counted.
CCME Form 144 -
A form 144 is used to register previously restricted shares which were obtinaed through a private placement in the past. It has nothing to do with a decision to sell them, but of course you can't sell restricted shares until registered by a 144. Filing this requires no public notice. Also, I believe that this doesn't change the share count as they are already counted.
Also, if this guy is a '5 percenter' he still has to file a Form 4 to sell after the SEC processes his Form 144, he surrenders his share certificate which is stamped' restricted' to the transfer agent, receives a 'clean' certificate, surrenders that to his broker for inclusion in his account. Won't happen tomorrow.
CCME - Be prepared -
The 7 Sept. event is about all you can do. Have videos, bus operators, advertisers, etc. You know a 'Really, really big show'. Possibly have the $150M on display as in the poker tournament.
Almost forgot, have a few auditors with green eyeshades and calculators.
CCME on Yahoo -
I hope you don't mind, but I posted ratos analysis on Yahoo with a statement something like, 'unfamiliar as you all are with real analysis'.
Also, there is a new poster over their, likely on of you guys, called 'ccmeshortcrusher' that is trying his best.