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LOL. Awesome
relook_ Let me rephase this.... Let's think about this logically and set aside our feelings. Why would anyone put their hard earned money into a sub-penny stock, drive for hours to the mine, and come back with some lame excuse for not having taken any pictures? You can bet your house on it that if I were to drive there, and I'm sure you, too, that we'd both come back with pictures to show the world. Why else go there? For a chat with Joe Miner? Come on, dude. You can do that over the phone. It just boggles the mind to think anyone would go to all that trouble and not be able to prove a thing.
It's just like you telling all your buddies of the hot babe you're dating. What would your pals think if you always came up with some excuse why they have never seen her? Sooner or later, you'd have to show them a picture or bring her around to introduce to your friends. If you're like me, I'd be wanting to show her off to my friends and watch them drool. And ladies, I'm sure you would do the same, too.
Very true. We could wake up to find out that there has been a major breakthrough and the PPS is at $5. I don't see why not. With $5B in the back room, all they need is to get their key handed back over to them to open the door.
Allow me to rephase this. Once we bust down .18, there are no more resistance levels until $1.50 Will new ones be formed? Probably. But there is nothing in sight at this time that will stand in the way. It has every possibility of making a steady climb to $1+
Also, remember, it took something like three tries to bust through .14 So, once we are past .18, we'll be golden to $1.50!
And watch those MMs scatter like flies when this monster comes roaring.
They asked for the $5B in the court hearing the morning prior to the bail out bill.
BlackSwanster_ Borrow the $5 billion LMAO
They are in court, dude. You really think the Fed would loan JPM $5B and run the risk of some wrong doing?
I'll try that next time I try to get out of parking ticket. Oh, Ms MeterMaid... can you loan me the $50 for the ticket you just gave me?
Again.... LMAO
Yeah... decided to take a break from the action here. It seems people want to label me as a basher. Well, with not one post since early Monday on this board, we saw the real action of QMNM without a word from me. What does that tell you? It ain't me. LOL
Btw, I jumped all over WAMUQ at .07 :) Now there's a real story developing there. $5B is up for grabs and that is just way too juicy to pass up. Looks like a multi-bagger for the good ol' King. We just might get that here, too..., some day. But, I'd feel much more comfortable getting in at the bottom and not have to think about averaging down. But, what really concerns me is the itchy finger r/s that Eugene likes to pull. And don't think he won't, either. The last time he pulled the trigger was last year just a couple of days before Christmas. At a time of year when everyone is thinking about Santa, the evil Mr. Scrooge pulled a fast one and ruined a lot of holiday cheer.
Huh? 12,986,998 sells to 5,686,946 buys
http://ih.advfn.com/p.php?pid=trades&cb=1223141930&symbol=NB%5EQMNM
Sure looks like around 75% sells on Friday. Plus, with the eariler volume of 80M, I suspect the buys here are people averaging down. So, I guessing we have some new "longs". To me, that could be a sign of a lot more selling to come. Hence, the SELL CONFIRMED flag has been signalled. Say what you want but that web site is based on technicals and is usually right on the money.
The question on my mind is, how long will the "longs" hold and watch this slip further? As we all know very well, the company "family" dumps on the average of 100M shares/month. I can't see that helping the PPS at all. Why does this occur? Big question. Even if it can be justified... QMNM needs funding..., are the "investors" willing to "fund" this operation in hopes this will bring them returns? Or would it be better to just sit on the sidelines and wait it out while the PPS bottoms out allowing for an opportunity to grab that many more shares without having to suffer through more loses?
If I recall, they did have cameras. The first one mysteriously stopped working and the second one claims that he didn't bring back pictures knowing that the pictures would not be good enough. Plus, I think I recall a third "visitor" said he went and totally forgot to bring his camera. On top of that, yet another person went there and made a video of the mine but it's too "private" for anyone to view. Too private? What a crock! What's in it? Debbie Does Eugene? Come on.... what are the odds of 4 people driving all that way into the moutains of eastern KY and coming back with no physical proof of what this mine is all about?
You know what they say.... if it walks like a duck, sounds like a duck, and looks like a duck....
Well, what is it if it smells really bad, the reports are really bad, the returns are really bad, and the guy running it has a history that is really bad?
I have a theory on the camera thing. You look at the iBox and see all these wonderful pictures. It truly appears these pictures are totally misleading when you read all the posts about what the mine really looks like from the people that have visited it. So, my guess, if we were to get real evidence of what this "underwhelming" mine looks like, then wouldn't that require the iBox pictures to be updated and give a true representation of it? And if that were done, what kind of picture would that present to those that happen to come across this board? I, for one, think those pictures in the iBox have to go. Let's get some that represent the truth.
HROLLER_ A New Continuous Miner costs $2,000,000.
That's a lot of jack. And they are looking at getting two? WoW! My question then is this: Where's the money for these coming from? Does that mean Eugene will be dumping more shares onto the market? If so, then wouldn't that push the PPS way down until they take delivery of one of these miners? At an average of .002, he'd have to dump $4,000,000/.002 = 2,000,000,000 shares. Or, are we about to see a 100:1 r/s coming so he can peal off some of the 275M r/s protected shares for this?
WP_ Aren't you curious as to why there has been no news or updates?
Not at all. It's really rather simple. The company probably has nothing to report. But, we did get a really nice report from Anvil who visited the mine last week.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32432250
Posted by: Anvil Date: Thursday, September 25, 2008 3:33:59 PM
In reply to: None Post # of 13641
Made it to the mine. Didn't have a lot of time, but not much to see.
1) Mine is right off the road with minimal room for trucks. If you have over four trucks, they would be waiting on the street. The street a two lane road and very narrow. Waiting trucks would block traffic, not there is alot of traffic on the road.
2) The belt was running and looked fairly new.
3) There was no coal running and only a small pile on the ground.
4) There were a couple of guys fixing a scoop.
5) The continuous miner is broken and hence no production.
6) They are right at the turn ready to hit "real coal".
7) However, at that juncture they are mining a split seam which means there is rock in between two seams (e.g. 12 inch seam, 12 inch rock, 24 inch seam). When the miner hits the seams and rock, it causing some rocks from the roof to fall.
8) The miner said that they have been having continuous problems (equipment break downs and mining problems).
9) Said when they are in full production, they will be mining 1200 tons a day.
10) Didnt look at Cedar Grove as it was up the hill and there didn't look like there was a supervisor.
Observation: The mine property was a little underwhelming but based on the reserve reports, the coal is good.
CONFIRMED SELL JUST POSTED
http://www.americanbulls.com/StockPage.asp?CompanyTicker=QMNM&MarketTicker=OTC&TYP=S
Looks like QMNM will be visiting the triple 0s real soon.
MORE REUTERS NEWS JUST OUT
Reuters
Lehman creditors seek to probe firm: report
Friday October 3, 9:37 pm ET
NEW YORK (Reuters) - Unsecured creditors of Lehman Brothers Holdings Inc (Other OTC:LEHMQ.PK - News) asked a court overseeing Lehman's bankruptcy proceedings for permission to investigate how the firm ran out of money, The Wall Street Journal reported on its website on Friday.
The group said that JPMorgan Chase & Co (NYSE:JPM - News), which acted as a middleman between Lehman and other lenders, helped spark a liquidity crisis at Lehman before it filed Chapter 11 bankruptcy proceedings earlier this month, the Journal reported.
The group made the allegation in a filing with the federal bankruptcy court in New York, the Journal reported.
"These assertions raised by the creditors' panel are unfounded conjecture," JPMorgan said in a statement released to the Journal. "We will address them at the appropriate time in bankruptcy court."
According to the court filing, about $17 billion in Lehman cash and securities were being held at J.P. Morgan as collateral, the Journal reported. In its claim, the creditors group alleges that J.P. Morgan "withheld $17 billion in excess assets" from Lehman Brothers "in the days just prior to the bankruptcy filing," the paper said.
The creditors say that refusing to make the assets available to Lehman might have contributed to Lehman's cash problems, the paper said.
JPMorgan and Lehman representatives were unavailable for comment.
REUTERS NOW REPORTING THE NEWS
http://biz.yahoo.com/rb/081003/business_us_financial_washingtonmutual.html?.v=1
Reuters
WaMu bankruptcy hearing opens with a $5 billion question
Friday October 3, 5:26 pm ET
By Emily Chasan
WILMINGTON, Delaware (Reuters) - The fate of a $5 billion deposit dominated the first day of Washington Mutual Inc's (Other OTC:WAMUQ.PK - News) bankruptcy proceedings in a Delaware court on Friday.
The 119-year-old bank was closed by the U.S. government last week in the largest bank failure by far in the United States. Its banking assets were sold the same day to JPMorgan Chase & Co (NYSE:JPM - News)for $1.9 billion.
Washington Mutual's holding company said in a U.S. Securities and Exchange Commission filing this week that it had about $5 billion on deposit with Washington Mutual Bank prior to its takeover by U.S. banking regulators and JPMorgan.
"It is our understanding that those deposits were taken as part of the transaction with JPMorgan," Marcia Goldstein, a bankruptcy lawyer for Washington Mutual, told Judge Mary Walrath at the court hearing.
As JPMorgan has taken over most of the bank's operations, Goldstein said the holding company has only one senior-level employee left on staff, and no access to computers with records that would help it determine who its creditors are.
The money could potentially be used to pay creditors of the holding company, whose lawyers were concerned about the status of the deposits.
"It sounds very unusual for the holder of a $5 billion account not to be able to make withdrawals from that account," Thomas Lauria, a lawyer representing a group of note holders in the case, told the court.
Goldstein said WaMu and JPMorgan have reached a "standstill agreement" that would require both parties to give each other 48 hours notice if WaMu seeks to withdraw the money or either party decides to take any court action related to the deposit. The agreement is in effect until October 15.
Washington Mutual filed for bankruptcy protection last week, listing $32.9 billion in assets and $8 billion in debt. Several corporate entities, including certain real estate assets, an exchange entity and some insurance business, remain part of the holding company, but lawyers had little information about what was ahead.
"This is not the same business it was," Goldstein said.
Washington Mutual had been one of the lenders hardest hit by the U.S. housing bust and credit crisis, and had suffered from soaring mortgage losses. In the nine-day span leading up to its failure, $16.7 billion in deposits flowed out of the bank, forcing regulators to act.
The rapid downfall of the Seattle-based company, which was once the largest thrift in the United States, has left creditors just as confused.
"We have precious little in the way of facts," said Lauria, who represents a group of 16 bondholders holding about $800 million of senior notes. "We are very concerned about the status of our debt holders and ... how fast things seem to be moving."
Goldstein said WaMu was not seeking outside bankruptcy financing at the time, as it currently has "adequate cash" to fund the costs of the bankruptcy process.
Some WaMu employees not offered jobs by JPMorgan were also expected to return to help the holding company unwind, she said.
Since I get released in 17 minutes, I figured I'd post one more PR in here that I will be putting up on the WAMUQ board. This should also get things stirred up more as it really looks like JP Morgan got their hands caught in the cookie jar. This also came across Rueters last night.
http://biz.yahoo.com/rb/081003/business_us_lehman_creditors.html?.v=1
Hey hitdabong... I happen to think QMNM could be a good play providing Eugene doesn't do a r/s. The PPS has to get back down first for the really good money to be made. As I have been posting, I thinnk it'll go to around the triple zeros. I have even more confidence in that now after having watched this recent little pop. The way I figure it, there are a few additional "longs" now in it that will be selling off some time soon that will help push it down further. The key to QMNM is to wait for the Eugene PR campaign to start up. Right now, he has little to put out in the press as production has been next to nothing. Once the machines are repaired and they are able to get through the final wall of rock in the mine, then they will be at the main seam. It'll be at this point I'm sure he will release the first of many PRs to come. I'm thinking that this is a couple weeks out so the PPS should be somewhere around my target. Plus, it's not looking good for this to emerge out of BK so I suspect Eugene will be making one big final play on it before having to let it go and moving on.
Of course this is all imo. So, if you keep an eye out and keep the chatter down, then that won't stir up more excitement before the time is right. If you watched it this past week, it moves nice when there is a flood of buying. So, my suggestion is to let others find out this from the PRs and think about taking a position at it's low prior to that.
Again, with Eugene and his r/s trigger happy fingers, taking a position and holding can run at a high risk.
I'm suppose to take advice from a guy that is locked up here for two years? ROFL. Why not just let your subscription end and start up a new one under a new name? How about that for advice?
Here's my advice. Forget that this is a Q stock. It's all about the story and if the story is juicy enough to cause a ton of buying. In this case, we have a monster story that came across Reuters yesterday after hours that the board hasn't even posted. I can't wait until I'm released today at lunch time today to post it up there for all to see. But, since no one seems to be here, let's see here what it is...
http://biz.yahoo.com/rb/081003/business_us_financial_washingtonmutual.html?.v=1
You'll see me on the board in 10 bagger land.
My WAMUQ shares are working on a 3 bagger now. .14x.145
Geez, are we the only 2 in the place?
Sorry, Charlie. WAMUQ busting out today. Hope you got in. :)
This stock has some serious strength. The charts from both yesterday and today are extremely healthy. Super steady and built a strong base each time it ut. That tells me that if there is going to be a run, it hasn't even started. If it continues the same steady track, it shouldn't come down that fast either.
Another thing I really like about it, too, is that I put my bids in exactly half way between the current bids and asks. And, little by little, each and everyone got filled.
Finally, what is amazing to watch is the money that is going into it. I have seen massive blocks representing $10k-$100k being bought. That ain't your average iHuber playing this thing. I don't have a crystal ball but some big money player know something is up. Plus, the MM bid sizes have been gigantic, too. For a while, today, one MM had his size at 1M and pushed it up several times. Even now, while the market is closed, the bid size stands at 100,000. At this point, I just don't see any signs of any selling pressure.
In my 15 years of playing the OTC BB/Pinks, I've never seen anything like it at this PPS. This will be one of those times we'll all look back on. I'm glad I'm in it. Let's just hope these MMs don't pull the rug out.
Btw, how long have you been in here? Looks like a very long time.
Not bad, Charlatan. I'm still holding 50k shares of WAMUQ I grabbed starting at .0725.
weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Posting in a flaming way.
World stocks fall but calm returns after sell off
http://news.yahoo.com/s/nm/20080930/bs_nm/us_markets_global;_ylt=Anqgir7yMUZA2GEghYyKplwT5LIF
Matt,
Thanks for the time out.
I have learned my lesson.
Stock futures bounce after Wall Street slide
http://news.yahoo.com/s/nm/20080930/bs_nm/us_markets_stocks_26
That's my understanding. Plus, shorties will have to start posting their positions at the start and end of business each day.
I think all you will find is an old office in a dumpy warehouse. While you are there, see if you can find any old cans of boat wax.
USMC... it will pass. Maybe not the first time but it will. They really have no choice in the matter because too many banks are failing. They may have to go back and make some further adjustments but it will pass.
With the DOW down 277, I think it's all factored in already in case it doesn't pass the first time.
nd_ That's one of the many red flags with QMNM in regards to the PRs. Can Eugene be held accountable? Good question. You have to remember, Eugene is an old pro at this so I'm sure he has his bases already covered. The PRs are carefully crafted. As I have posted, this is Eugene's baby and we have to learn to play along.
The bill will pass. It's just a matter of ironing it out and getting the majority of them on board. They will keep at it until then.
Look at that bid stack up at $2. Strapping in!
Typical day in Eugene-land. Looks like the triple 0s are right around the corner.
So, Pedro, do you have any insight on the latest filing? Is that another 122M shares that Eugene now has?
With all thing considered, we should be glad because it sure seems like this is a solid bottom. Just need to see what happens with the 10Q.
Gotta love it. Holding around $2. Forming a higher low. Accumulation going on. Should see this move up nicely from here. Nice and steady.
That's the $18K question