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gwikely - thanks for your PMs and all the best (and continued longevity!) to you ...
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Agreed airedale - nice post - many will sell along this road and will not make it to the next destination, emotions run high in the market, that in itself provides us with opportunity
GLTY
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Good perspective there, golfndude. Man, what a way to start the morning here, 1000 or so posts with a lot of freaked out people. I don't know exactly whose selling into this 'rally' from the .01's and .02's, but it doesn't take a rocket scientist to see that someone has been the last several days For us investors, always the same question exists, does your DD and timeframe justify buying now while they're selling, or not? Mine does, I can wait for the next leg up, I think SLJB is still looking good and I don't smell any scam yet
I am still wary about the large short position out there, because again, the MMs always play dirty to cover themselves. But that said, things still look good to me overall (but I've been wrong before
)
Appreciate your posts - GLTY
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TFN - agree with you on that one. EOM
I'll go on record as saying "maybe, you never know". People get upset when you have the guts to say it's going back to 0.045 - but it's the market, who really knows??? In some ways, I hope it does drop, my buy order today at 0.068 looks like a dream - but tomorrow, who knows?? Could be 0.045, could be 0.45
GLTY
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gwikley - excellent question!! What ARE we holding? I don't know to be honest, nor do I fully understand all the possible permutations here regarding the float and share structure - because I've seen MMs pull rabbits (or scorpions) out of their hats too many times
I'm holding over 650k long - don't know exactly what I'm holding, but I'm holding it for now
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Saudi EOM
Saudi money is NOT on holiday today, we all had to work EOM
That short position is a BIG problem - that is NOT a positive IMO. The MMs are not going to take a beating on this easily - they will go down with guns blazing IF they go down at all ...
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Finally got 15k more at 0.09 EOM
This is usually a good test - if you try to buy with a market order and they fill you immediately, it's gonna be a 'down day' - they can't wait to unload their trash at the ask. But yet again (for fun) I have another market buy in there for 15k - and they won't fill it - they just can't (or won't) find the shares easily ...
A good sign for longs so far ...
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Finally got 53k between 0.83 and 0.84 - called the broker, they apologized for "electronic problems" today (!!!)
Should have got them at 0.08 or under, but these small differences aren't gonna matter real soon
I'm holding hundreds of thousands of these SLJB 'shares' or 'FTDs' (whatever they are)
I just didn't want to have a "market order" sitting out there unfilled if this thing runs to 15 or 20 cents today (for obvious reasons)
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Texas, think man - I'm trying to BUY at essentially 'any' price - and they still won't sell (that's what a "market order" is). I now have an order in for 50k at 0.09 or better - and it STILL won';t fill.
The MMs are running out of shares, and (apparently) won't even sell me their naked shorts
Somethings brewing - my market order for 50k was cancelled, "nothing done", not even a nibble after 5 minutes - that's rare ...
Wrong, KookBook! We have NO power as shareholders against the MMs, don't kid yourself! They have unlimited resources to essentially 'print shares' through naked shorting. Do you (do WE) have unlimited money to buy all the FTDs they want to issue???
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It's 6 AM and already 38 degrees C here
The hard truth is that there is a large naked short position on SLJB and that it COULD be a major problem if not dealt with properly. See my previous post 37197.
Just because the MMs have created a big mess doesn't mean that the 'system' can handle it - look back to the Pegasus/Sedona fiasco and you can see that the SEC knows they have a big problem with naked shorts in general - that's why they 'grandfathered' much of it away with their 2005 SHO regulation ...
The good news here is the Steve Sulja et al are well aware of this - and they are trying to a) politely warn the shorts with their PRs and 'short captured capital' approach, and b) they are giving the MMs plenty of time and opportunity to cover below 10 cents. They can't just say "in your face MMs, we're going to screw you", because the REVERSE can easily happen - nobody wins in all-out nuclear war (!)
I am still wary that not all MMs will play fair here - they have never lost in the past, and it's not their business to 'lose'. But I do feel very positive that SLJB is handling the situation very well, seeking a win-win with the MMs (as a few of us discussed yesterday on this board).
We'll see how this plays out. The MM's can either be reasonable and cover (like they have over on PGPM), or they can get ugly and try to naked short this a whole bunch more (and dig themselves into a deeper hole - and stall our share price rise for quite some time). This would start all out war. My opinion is the former - that logic will prevail and that the MMs will cover (reluctantly) and go play their games somewhere else, with companies that are losing money and don't have SLJB's potential. There are plenty of those to naked-short into the ground, and they know that. Why jeopardize your cash cow (the naked shorting loophole in the system) by taking on a company like SLJB that, surprisingly (to them), looks like it's actually going to succeeed?
Until the MM's do cover, the 'float' on SLJB will be a mystery, since it consists of ?millions? of 'failure to deliver' (naked short) certificates floating in cyberspace ...
IMHO, I don't think most people on this board realize the seriousness of this naked short issue - if the share transaction system breaks (i.e. if it is overwhelmed by FTDs and leads to MM asset seizures, investigations, etc - and don't say it can't happen because it already has before in the great US of A), it doesn't matter a damn how good SLJB's business is, we get halted and we languish in the courts while the SEC tries to sort out the mess. I DON'T think this will happen here, Sulja is aware of this scenario and for the reasons stated above, they are dealing with it. But when people start talking about the 'float' as though naked shorting either doesn't exist, or, isn't a factor, I think they are dead wrong. It is an issue - a potentially HUGE issue - but I haven't seen anyone address it as well as Sulja et al seem to be addressing it in their PRs and with their approach to the MMs. This is one major reason why I am long on SLJB ...
Godd morning from the Middle East
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vic666 - IMO, my post 37197 explains why I think you could be correct ... SLJB could be looking for a win-win with the MMs, until the SEC fixes the (clearly flawed) system currently in place that allows MMs to naked short with impunity. Once the 'problem' is covered, everyone wins ...
GLTY
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Goodluck SLJB longs, and goodbye. I'm back to lurking. You figure out why. I live and work in the Middle East, contact me privately if you want any info on the economy over here
GLTA
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FFB, thanks, previously you could not answer post 37197, how do you feel about it now? Think it's a serious issue for SLJB?
TIA
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Do I dare try this again? My hands are still stinging from being slapped by the entity who controls the longevity of posts on this board ...
I am still trying to discuss the possibility of naked shorting as it pertains to SLJB: do others on this board believe it is either a serious threat and/or a potential problem (refer to my previous post 37197)?
I will state that I have received several private replies to post 37197 that agree with my concern, that agree that it is possibly (some say "definitely") valid, and that this could be a major problem ...
I also better say that I am LONG a bunch of SLJB, since the longevity of my post on this board does seem to have a direct relationship to such a statement ...
GLTA
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Everytime we raise this issue IN RELATION TO SLJB, we either get deleted or flamed ....
So much for a frank exchange of RELATED issues to SLJB ...
Go Rager!
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Got 47k at 0.077, after they looked right past me with a few 0.075 fills. The MMs have their own agendas for sure ...
Greenspirit - nice post. Keep in touch with me (I will pay now to join IHUB so we can send pm's). I appreciate your posts. I also work in the Middle East , so have my finger on the pulse ...
GLTY
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Yes, to EVERYONE bickering, what ARE the assets?
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Benz - thanks. Opp (EOM)
Hi checkmate
I think it's because HESG is essentailly run by engineers and (lousy) financiers, they even have an ex-military general on their BOD (!) - in other words, only Stuart Gold seems to have any PR or Marketing skills (the rest of them are in the wrong business) and he's probably overwhelmed at the moment - maybe he's even wondering what kind of mess he got himself into
You're right, they seem to at least be trying SOMETHING now, better than sitting on their hands (which they seem good at) - but when I spoke to the IR guy over a week ago, he told me some new money would be buying shares when the last PR was released - well, I ain't seen it yet, but hey, why buy today when it will be cheaper tomorrow? ...
I'll pick up a bunch more at 2 cents if it gets there - but then that's it. Otherwise, I have to wait for 0.08 to break even ...
PS the big play right now is SLJB - maybe you've already checked it out ...
Good Luck to you,
Opp
No trades for 10 minutes - interesting ... EOM
Chadsly: here is your "strawman", watch it all:
http://www.businessjive.com/nss/darkside.html
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bobrainey300 - ever heard of Sedona??? Do a little DD before you start using the word "ridiculous", I know people who have waited 18 MONTHS for their Sedona share certificates, and everyone knows darn well they will never see them, because they are MM-generated ftd's (naked shorts) ...
Now, who will answer my honest questions ...
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digitaltradz - the MM's can just go bankrupt (aka Sedona) and then that's it, they get screwed, we get screwed, nobody wins - it has happened already (Refco/Sedona)
I'm not truying to instill doom and gloom here, I would just like some of the clearly more knowledgable DD posters here to tell me why they aren't worried about this scenario. Maybe I am missing something ...
I have $38,000 on the line - I'll live if I lose it. If I get too nervous, I'll sell. For now, I'm just seeking honest answers ..
GLTA
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FISH - can you answer post 37197? Thanks EOM
Chambermaid: your turn to "think before you talk" ...
1) this is play money for Wessal - they could care less about losing a few million by buying bogus FTD certificates - but it ain't play money for me ...
2) they just might be willing to lose that money, and take this whole MM shell game into the courts, because of their PUBLICLY STATED DISLIKE for the rogue MM's - if they do this, they are doing the SEC a favor - but in the meantime, we are left halted or worse, tied up in court for 5 years ...
3) You still have not given me any alternative facts/.reason why my scenario will not happen (you only sniped at me). I'll wait for a more measured reply from you ....
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Allinone - nice post (thanks), HOWEVER, it's not all rosy IMO ...
If your scenario plays out and is true, then all of us shareholders could easily be left holding "failure to deliver' certificates from rogue MM's - in THEORY we own the shares, and in THEORY the short sellers must deliver, but they can't (and WON'T) deliver what doesn't exist - they have sold us worthless, bogus failure-to-deliver naked-short certificates ...
All we can do then is scream at the SEC, scream at our government, and wait (probably eternally) for the courts to take their turn at sorting out the mess (while the Gov't and reg authorities continue to turn a blind eye) ..
THIS IS MY GREATEST FEAR WITH SLJB - that we end up bag-holding worthless FTD certificates, and/or that the stock is halted because the MM's have overstepped the mark this time and completely 'broken' the system with massive naked shorting - sure, the MMs will get screwed, but so will we ...
Your thoughts please on how/why this scenario WON'T happen - because I think it's a real possibility ....
Long and strong SLJB
(probably too long and too strong!)
GLTA
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lakers17: your posts are FAIR, stick around please
Your points about pumping are fair, some people on this board re-post the same cheerleading several times a day, it can easily be called pumping
I hear what you are saying and ageree, don't worry
I'm LONG a bunch on SLJB, by the way ...
GLTA
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Anyone have the Bid/Ask this AM?
Thanks
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Noos, this is typical MM behaviour at lunchtime, look at any pink or OTC, they always kick hardest at the bid when people take a break for lunch - sometimes they get the breakdown they want, but more often than not it's only a temporary spike down and it bounces back in the afternoon - but we'll soon see ...
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Looks like I stuffed up all trading with my 0.89 bid Only have a partial fill, that was 14 minutes ago, no trades since, hmmmm
GLTA
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Just spoke to IR man at HESG - here's the scoop:
- apparently they are NOT going to do a financing imminently, they don't want to dilute
- they're working on Sequestrol first, planning to get a new "infomercial" out ASAP (in the next week or so)
- they're going to try and get interim funds from 1) the short-term sales of Sequestrol, and b) private financing from "friends and family"
Those are the main points. I asked about Shugr (which I think is their best product) but apparently they don't have any cash to manufacture anymore, so aren't working that product right now (too bad, I think it's their biggest potential). I also asked about Stuart Gold (one of the main reasons I bought in) - apparently he's working on some immediate short-term solutions - but it's also clear he needs money to accomplish his goals (no surprise there)
All in all, not a bad discussion, but OTOH, nothing that's gonna make us go buy all the shares we can get our hands on right now. A few things are supposedly going to happen next week - but it will take time (and money) to turn this thing around permanently. I'm betting they will do it - Stuart didn't put his big reputation on the line to fail here (and he has quite a reputation for success, I know that from people in my own line of business). But my bet on HESG isn't nearly as painful as others - I'm long 200k at an average of 0.08 ...
The IR man's email is:
Craig kulman, ck@kulmanir.com
Good luck to all
Opp