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11 different MMs at the ask between here and .06 Don't think we see .06 today unless news is coming tomorrow or someone wants another 2 million by end of today. Of course most showing 5k shares.
This thing trades weird, if you want to sell, just wait a bit and someone will buy your shares at ask, no need to undercut ask or sell at bid? 200k just went at .057/.058 and now ask is down to .055 (100k, $200-300 difference if you had a little patience)... I suppose if you have a few million shares to sell then you may have to be less picky.
With one of my brokers I can make a 1000 share trade for less then a buck if I wanted to. Last year I bought 200k shares 5k at a time on the way up (all at the ask) to complement my other 900k shares I bought in the .03s. There easily could be someone doing the opposite trying to scare someone(s) into selling into their 200-300k+ bids. I'm sure there is a little MM action going on but really most trades (95%) are retail traders.
Was going to say a few minutes ago that the ask was just as thin as bid yesterday. If we can hold this level or above chartists will love seeing the ~.05 level hold and bounce back.
You two are off by a factor of 10, 250k at ask. Check level II and add two zeros to the end to get the actual size. At least they are showing true size with this one, what really annoys me is when it shows 5k but takes 250k to take it out. I thought that was a legel requirement now to show actual bid/ask size.
looks like someone is trying to entice big sells into bid, 5000, 10000, 1000 sells into bid at .058.
bid
92k @ .058
26k @ .057
200k @ .056
ask
260k @.06
5k @ .062
There was a pre-market/first tick of day paint job to bring it down below the bid that was showing. Someone must have put in a market sell and MM decided to stick it to the seller. Next tick was .024 or above.
Months, not at all like this. Felt like it was a struggle with low volume until it hit .12 or so then took off like it has the last two days.
Paper gains are rough here, I've had paper gains of $67k in 2009 (400k shares) and $42k (1.1m shares) last year. Overall I'm up maybe $20k overall.
Others here have had paper gains of close to $1mill.
Through a series of blunders on my part and my brokers part I only have 350k this time around. Making me sick at the moment, I should have closer to 800k if my broker didn't screw me by not allowing NITE route. Furniture my wife bought in early summer looking very expensive now too.
Overall, I suck...
Wholy sh.. .06+ now
Just give up, resistance is futile. I'm sure there is a way to twist facts that this only proves there's a massive short attack happening as we speak. I used up all of my ignores on the short theororists long ago.
I'm pretty pissed off at Interactive Brokers, I wanted to buy 500k last week, every time I tried IB was telling me I could only close SRSR. IB had removed the NITE mm route until yesterday (and apparently had no alternatives). Just bought 250k worth today anyway, hope to get more on any sort of pull back.
Bid support picking up today, before the 4 million market buy yesterday I was a little worried we'd see .011 to .015 area as it would have only taken 300k to 400k share market sell to hit .011 (from what was visible in L2).
I'm going to assume today is a chart play. Just need to sustain this reversal, hopefully all sellers out (and may try to chase it above sell price). If we are back to under .02 tomorrow, there may be more pain to look forward to.
SRSR 2011 Annual report/financials are posted here:
http://www.otcmarkets.com/financialReportViewer?symbol=SRSR&id=79074
Didn't see anything interesting other then someone(s) loaned SRSR $980,652 at 1% interest per month (that's about 13%/$124k yearly). Scott earned $180k last year as well as what is owed to him is $120k less then it was in 2010 year ($300k total). Subsequent events list that Windsor claim option has been paid off.
You can short with right broker and millions of dollars in capital you don't mind tying up to gain a few tenths of a cent. You would need $2.50 in margin to short 1 share. I.E. $2.5 million to short 1,000,000 shares with a max profit of $18,000 that may not be realized for years. Pretty sure if I had 2.5 million laying around I could find a better investment. 18k/2500k = .0072 = .72 percent return.
What we are talking about here is basically the typical spread on SRSR. I'm going to take a wild guess and assume most would have rather sold for 275% gain 8 months ago versus holding out for a 7% dividend (assuming you bought at .02).
To get your dividend value, take the number of shares you own, divide by 35 and multiply by .05. For example with 1,000,000 shares, 1,000,000/35 * .05 = $1,428 dividend if it eventually trades at .05 on open market (it may be higher or lower).
So at say SRSR .02, with 1,000,000 shares = $20k, the divided of $1,428 is 7%.
Another way to look at is, it is .001428 cents/share dividend.
I assume he is talking about OntaREEo's spreadsheet that listed valuations based on what is in the ground.
Here is the last iteration that I could find via google:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58879920
I'm aware but no need to pay someone for that, Scott is doing it all on his own.
This has been posted a number of times, but is being dwarfed by this short "theory".
ANY transaction that is not completed within the same broker (ie buyer and seller using the same broker/clearing house) will show as a short in FINRA. This short is "closed" as soon as the broker receives the shares from the other broker. That is a simple explanation of how there are shorts everyday.
Example, for you L2 watchers, if NITE has 100k ASK at .02 and UBSS buys 100k shares at ASK, those are considered short until it clears. If NITE has 100k ASK at .02 and NITE buys 100K at ASK, those are not considered short.
For a logical person does that not sound like a more logical answer then some conspiracy theory of a huge naked short of a penny stock with a 17 million market cap?
I'll have to post this reply 10 times a day to keep up I guess.
See my post from August.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66680835
That is how I interpreted the HKHE option. Like everything in SRSR PRs it is a bit vague on details.
Should have followed my own advice, I'd have $25k more in my account if I had.
Also remember the 100 million A/S that were added with the directors circular, while not enough to really do anything, enough to keep SRSR going for another 2-4 years at it's current pace (if there really are those looking for private placements still).
I pretty much does, I can only assume you were smart enough to sell a good portion say 6 months ago to fund buying more now?
Anyone else notice this (sorry if yes, I have not be keeping up lately):
http://en.impiexpo.org/zhanhui/show.aspx?id=864
Macau Conference postponed until November. Blah.
If there were shorts, it could look like that, if they think it's time to close position, do it at any cost. There have been a few other days like this over past few months. On the 12/28 & 2/2 a bunch of buying at ask in short periods. I personally think it is chart related, trying to initiate a reversal/trend break. Today there was really no reason to be buying at .025, someone with big bankroll looking to push it higher (which is fine by me). Needs to follow through now.
shorts covering. That was odd, I think more then a few think that that was/is the bottom, we haven't seen buying like that for a long time.
Looks like that 1.7 million ask is just about gone. Maybe found a near term bottom.
Nevermind the fact that at the shareholders meeting, Scott actually laughed off the short/NSS speculation. (RE: Kramer_Scarcelli's meeting notes).
You added an extra 10x on that, it's 1.7 million (1.5 million shares now). 17 million would be horrible, I feel like 1.5 mill is manageable over the next couple of days (it will probably get bought up).
You should probably put your avg price in your signature. It's much easier to be positive here when you are still up 200%. The majority of posters here most likely hopped in during a run or start of a run at around .03 or above. You occasionally should put yourself in others shoes, many are down 50% and have been reading your posts day in day out, nothing but positives while the share prices just keeps stair stepping down.
Would you continue to hold if this were to get down to .003? I'm guessing even you have a stop loss.
I don't understand how we can be at .019 then. DSU must not have been accounting for all of those crazy shorters. You know, the multimillionaires who are willing to tie up all of their margin to make $10k - 20k. Considering most retail brokers require minimum $2 in margin for every share short, it is costing someone $12 million in margin to hold 6 million shares short. The only clear explanation is naked shorting.
I'm being sarcastic IMO.
Ok, maybe I do have time, O/S was 734 million in Dec 2008, Sep 2011 832 million O/S.
4 million warrants
48 mill private placements
36 mill debt
1 mill cash
1 mill property
5 mill services
basically 50 million in PPs, over estimate there.
Just going by quarterly reports. O/S has increased around 100 million over past 3 years. I don't have time to go check them again right now though.
Kinda depends on your timeline, just as likely to go to low .01s in the next 2-3 months without a significant news event. Given the infrequency of news, very good chance we hear absolutely nothing for 2-3 months. Next support level after .017 is .007.
Really all it takes are a couple private placement people to get fed up and dump their 5-10 million shares. There are 100+ million shares out there that were bought at .02 via private placement over past 3 or so years.
Here's the problem, from the outside this whole thing looks like a typical pink sheet scam at this point. Picture this, an unknown entity has offered a pink sheet company a sizable amount of money, the stock price increases on the news (it ran up on anticipation of the news), it then sells off to multi year lows, the unknown entity backs out after months of no news. Tell me if you have seen that before? Hint, it's probably on page 6 of the "pink sheet scamming for dummies" book.
I know that isn't really the case but we now have yet another reason for potential investors/financiers to be leery.
And now add in a JV with another company that is run by the same management team. That's on page 10.
May or may not be a good price, only time will tell. I don't think .017 arbitrary bottom will be the bottom this time. What's the next support level?
Ok, now we're f'd, .02 is good enough now, 600k sell at market.
It's not being manipulated, it is people that are much smarter then you and I selling this stock for a profit (maybe just me).
While not massive dumpage, ASK size is growing at lower prices while BID size is dropping also at lower prices. ASK is down to .025 and .0255, those were getting eaten up last week. It will take 500k in buys to close even today.