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short covering. COT reports a major drop in the commercial shorts on gold. It's the only plausible explanation.
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mmayr- no problem. I like to take spare change and play the pennies, but the real investments are other places- gold silver and interestly enough Canadian oil and gas royalty trusts. Monthly dividend checks most paying over 12%. It's a nice supplement to the retirement check. I know I post in good company here. Seeing the economic tsunami that is building day by day goes far beyond due diligence. Most are blind to the same short sightedness that afflicts Washington and Wall street. You guys have got it together. Keep up the good works.
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AIG getting fed money:
From CNBC.com
Tuesday, September 16, 2008
http://www.cnbc.com//id/26747020?
American International Group will get an $85 billion loan from the federal government in exchange for an 80 percent stake in itself, sources have told CNBC.
Sources said the loan, which will allow AIG to avoid bankruptcy, will be secured and include incentives for quick asset-sales by AIG.
The deal severely dilutes existing shares of the company.
Management at the firm will be fired as part of the deal.
AIG has been racing the clock to avoid a bankruptcy filing on Wednesday, making efforts to work out a deal with the Federal Reserve to shore up its finances.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke met with Senate and House leadership Tuesday night to discuss how to assist AIG, sources said.
The Fed's financial aid for the troubled insurer marks a reversal of its decision on Monday to refuse a bridge loan to AIG.
The Fed met with the company's advisers throughout Tuesday and came to a better understanding of what is needed to help the company through its current crisis, people familiar with the negotiations told CNBC.
Reports Tuesday said the Fed was considering a conservatorship for AIG—which would mean bringing in an outsider to run the company. But sources told CNBC that no legal authority exists for such an arrangement.
AIG shares swung wildly all day Tuesday in heavy volume. ...
From CNBC.com
Tuesday, September 16, 2008
http://www.cnbc.com//id/26747020?
American International Group will get an $85 billion loan from the federal government in exchange for an 80 percent stake in itself, sources have told CNBC.
Sources said the loan, which will allow AIG to avoid bankruptcy, will be secured and include incentives for quick asset-sales by AIG.
The deal severely dilutes existing shares of the company.
Management at the firm will be fired as part of the deal.
AIG has been racing the clock to avoid a bankruptcy filing on Wednesday, making efforts to work out a deal with the Federal Reserve to shore up its finances.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke met with Senate and House leadership Tuesday night to discuss how to assist AIG, sources said.
The Fed's financial aid for the troubled insurer marks a reversal of its decision on Monday to refuse a bridge loan to AIG.
The Fed met with the company's advisers throughout Tuesday and came to a better understanding of what is needed to help the company through its current crisis, people familiar with the negotiations told CNBC.
Reports Tuesday said the Fed was considering a conservatorship for AIG—which would mean bringing in an outsider to run the company. But sources told CNBC that no legal authority exists for such an arrangement.
AIG shares swung wildly all day Tuesday in heavy volume. ...
This is a copy of an email I sent my senator last July. Needless to say I have to date had no response:
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Senator Casey-
It seems that many of our tax dollars are now being used to bail out
mismanaged public corporations and foreign investments in these same
corporations. I have stocks in my portfolio that are now worthless due
to the same type of mismanagement. I will send for the certificates.
Would you kindly send me the address to forward them to. I'm not asking
for hundreds of billions of dollars, just maybe $20,000. I have received
no bonuses from these companies or any other compensation. I am just a
small investor that used some poor judgement in the past and would like
to turn some of this worthless paper into our Federal Reserve in
exchange for cash. I understand it is now the trendy thing to do. Please
send this information as soon as possible before Fannie, Freddie, and
Wall Street take it all and there is none left.
Thank you
We think alike, and there are a lot more that are with us. Too bad we don't hear more from them.
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Agree that the system in place should remain and survive. It just galls me to see the legalized theft that went on while regulators looked the other way. Wall street does need a good house cleaning. And this is not near over. It will definately get worse. And we have 2 presidential candidates, one saying cut taxes and the other wanting to spend more. It will not end until no one accepts our debt anymore. Got gold, got silver, no mortgage, no debt, no margin, 6 acres to grow a lot, and the means to protect it all if necessary (I hope it doesn't ever become necessary).
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It looks like more bailouts at taxpayer expense will be coming. Paulson didn't say no, he just hedged a little. What upsets me the most is the people that got away with billions in salaries and bonuses when perpetrating this fraud on the investment community. Are their assets going to be seized to help reimbuse us? I doubt it. It's things like this that make me want to just go underground and disappear from gov't radars. Hard to do but not impossible.
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Hi Jon- I read what you have written and wish I could help. I'm not a legal scholar nor a social network person. I just watch the investment end. I'm sorry for you dad's loss. It's no help, but many have lost far more. Perhaps a call to the company explaining your problem and threatening legal action could resolve this for you. If anyone has any ideas I hope they read your post and respond for you. Good luck
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Just one point on funeral costs. The average person usually carries enough insurance to cover costs of caskets and funerals, and if the breadwinner, enough to carry the family for a while. Certainly not everyone does either from lack of foresight or lack of prudence or lack of funds for premiums, but I do believe a large majority of Americans have made the necessary allowances.
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If it hits a penny I'll add another million. Be happy to sell it back at 2¢ on the way up.
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This is a tough one to call. Someone either a large buyer or a market maker for whatever unknown reason accumulated a lot of shares at .0165 without dropping the bid. That makes for some interesting speculation. And no, I don't have an answer. Just wish it could have dropped to a penny, LOL.
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Hi LC- no it hasn't but then I'm not expecting it either. Remember the 4 pillars- uplist, national distributor, convention, and heppie. I have some shares set aside to sell into the coming buying frenzy. I would have a lot more if scared sellers could have dropped it to a penny even. Next year at this time IMHO you'll wish you had warrants to get shares at this price.
Gators are still my #1 pick.
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Good morning superbee. In a falling market being propped up by wasted tax dollars and gov't printing presses, our little company holding it's own could be considered monumental. Times will get tougher and industries worldwide will be in fierce competition for customers to stay alive. In the funeral industry, everyone is a potential customer at least once.
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Just another day in ETNL land. You could have done far worse, LEH FNM FRE MER AIG WM the list will continue to grow. Has anyone lost any value in their portfolio with ETNL in the past few months?
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SLV is the way to play the flip. Long term go for the physical. $100 silver in the near future is not out of the realm of possibilities. There are some that claim there is more above ground gold available than silver. GL on your trades.
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re silver, just a suggestion- avoid paper silver and try and get the physical if you can. Physical silver can't be manipulated, taxed, confiscated(by gov't), nor lost in a bankruptcy. Don't expect to buy it (physical) at the paper spot price as no one has any to sell at that price. Premiums over spot are anywhere from $4 to $10 currently. The physical market and the paper market have definately separated. AIG who is now in trouble lost a bundle earlier this year when they exited the silver market. They were a big short seller and had to cover to exit the PM markets. It was the start of their current troubles. FWIW
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gm all- basser, how many barks until the uplist? Raining here in the NE and a great day to do some swing trading. However the penny market seems to have died today.
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It is amazing that this is only 3¢. When it starts getting noticed, look out above.
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Thanks Trump- I had suspected dilution going on. When the 3 million Clayton buys get taken off the market the float goes back to 6 million. It's an incredible bargain here. We have one going concern in Ithaca. News fron SNV with revenue numbers will send this parabolic IMHO. Thanksagain
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Thanks weatherdude. eom
Trump- has the float changed to your knowledge since the July update in the iBox? Thanks
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FWIW- since the pm markets have been hit so hard lately I saw this as a great buying op. I stocked up on krands when gold was $350 and have been accumulating 90% US silver coins ever since. My main source is Ebay. I'm sure many have been reading about the disconnect of the paper from the physical markets lately. I've been scouring ebay for several nights looking for silver coins at melt value, currently about 7.1 X face at current spot. Bidding for silver coins is still going gangbusters on ebay. And a large majority of lots are going at 10 X face or better. No bargains to be had there. Just FYI.
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Basser- thanks for the info on your wires and dog. That has to be the reason no one seems to able to provide that link we have been asking for. Since it seems to be now just 6 trading days until the uplist, teach him to bark once for each day to keep us informed of the timeline.
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Dilution would certainly explain the share price action this past month or more. JMHO
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Captain Jim- TA's work for and are directed by the companies they represent. They do not issue nor exchange nor retire shares uless directed by the company. They don't issue press releases and can get into a lot of trouble with the SEC for doing anything not directed to by their companies they represent. I have read many PRs with CEOs stating share structures that do not coincide with the TA's numbers. PRs can have forward looking statement clauses to cover many things. False numbers put out by a TA are a serious problem with the SEC. I'm not saying Clayton is giving out false info, but the TA works for him, not market makers nor brokerages. This should have been straightened out a long time ago. Not bashing, just don't understand this situation. I still have my 161,000 shares.
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OS count updated in iBox. eom
tumbleweed- you will have to go offshore. no US broker to my knowledge will short under $5 stocks. be aware the margin requirements will be outrageous. good luck
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kelel- welcome to the board. This company is a dilution machine coupled with numerous reverse splits and several name and ticker changes to help hide previous antics. And all this under the same CEO and management. That is not to say you can't make a few $$$$ here. Some traders have done well over the years. But keep in mind that not one long term investor has ever made anything off this company. They have all been reversed out of their positions. Check out some of camguy's previous posts. He has done much DD.
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basser- just an FYI for all- any attorney worth his due would highly recco for a small company that a class of stock be issued to the owners that would give them control of the company. It prevents a hostile takeover which is highly possible if the intellectual and personal property of the corporation become highly prized. In our case here I think those licenses will IMHO become quite a good chunk of intellectual capital in the future. The biggies will not be able to come in and buy common shares and take control of the company just to gain access to those properties.
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Hi kazorchian- and welcome. I try to update about every 2 weeks and will be updating again probably on Friday this week. If you care to you may call the TA yourself:
Stalt
1 650 321 7111
Just ask for the OS count on Wi Fi TV, very nice lady will answer it for you. By the volume and share price I would think anothe r20 million shares or so have been added in the past 2 weeks. Just my guess.
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Dutch sabotage agent recalled from Iran over “impending” US attack - report
DEBKAfile Special Report
August 30, 2008, 5:36 PM (GMT+02:00)
America's largest unmanned aerial vehicle
America's largest unmanned aerial vehicle
A Dutch AIVD Secret Service ultra-secret operation underway in Iran in recent years has been halted and an agent recalled in view of “impending US plans to attack Iran,” within weeks, writes Joost de Haas, known for his good intelligence contacts, in the Dutch newspaper De Telegraaf.
The AIVD operation aimed to infiltrate and sabotage the weapons [and nuclear] industry in the Islamic Republic.
According to intelligence sources in the Netherlands, the US [or Israel] was expected to make a decision within weeks to attack nuclear plants with unmanned aircraft, used to avoid risking the lives of air crews and warplanes.
DEBKAfile’s military sources report this would be the first time drones operated by remote control were used against major strategic targets, necessary in Israel’s case to hold its air fleet and flight crews ready to defend the country against reprisal from Iran’s allies. Syria and the Lebanese Hizballah have stockpiled thousands of rockets for this purpose.
The Iranian targets to be bombed would include also military installations brought to light partly by the Dutch espionage operation, described by De Telegraaf as extremely successful. “One of the agents was able to infiltrate the Iranian industry” and for years shared information with the American CIA. “Various supplies could also be sabotaged and stopped. These were parts for missiles and launching equipment.”
According to DEBKAfile’s sources, the expectation disclosed by the Dutch newspaper would explain the fresh spate of threats from Iran.
Thursday, Aug. 28, Iranian sources told the London-based Arabic al Quds that Tehran had recently transferred to Hizballah new long-range rockets capable of hitting every inch of Israeli soil with great accuracy.
They were to be fired if Israel or the United States attacked Iran.
Dep. Chief of General Staff Masus Jazairi said Saturday, Aug. 30, that any attack on Iran would mean the beginning of a new world war. He said the “greed of the US and Zionists” is gradually leading the world to collapse as demonstrated in Sudan, Iraq, Afghanistan and the Caucasus.
DEBKAfile’s Iran sources report a shakeup is in progress in the Islamic Republic’s top military command.
Amir (Maj. Gen.) Seyed Abdollrahim Mousavi was named acting chief of staff
of the armed forces – a new post created as backup in case the army chief comes to harm in combat.
Amir Mohamad Hosseyn Dadras becomes deputy chief of staff for coordination.
Amir Reza Pourdastan is the new commander of the army’s ground corps.
very possible scenario. been there seen that many times also. The key will be revenues. W/O increasing revenues it would probably mean back to the doldrums. Ah, but what might happen with increasing revenues on each Q? Time will tell. I've always maintained this is a long termer.
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uplisting to the otcbb will increase the potential investor base many multiples of it's current potential. A very large majority of investors will not touch a pinkie because of lack of reporting requirements. I'm in total agreement that the company will still have to perform. That's what the Q's will be telling us as time goes by. Fundamentals will come into play vs. expectations.
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superbee- agreed on that. I think the insiders know where this company is headed and will wait for a far higher price before selling any. Of course there may be times when someone needs alittle extra cash and will sell prematurely. It happens all the time. I could sell a lot of shares at 2¢ myself and turn a decent profit. But I'm going to be one of those hogs that get slaughtered waiting for a higher price, LOL. Eggs with that bacon please!
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No need for a 100 share paint. No one willing to sell under .017¢
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LC- thanks, I haven't found a keyboard yet that knows how to spell, LOL. Only I kinda disagree on the B/A action. No volume and a rising ask is not typical IMHO.
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Yesterday a very large block went thru at the bid. This AM some large blocks also went thru at the bid. Yet the bid and ask are rising. Uplist close maybe? National distributor PR coming? I don't know, but this is sure acting funny and definately not like your typical pinkie. JMHO
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161,000 here. eom
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