I love it when things work out!
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Interesting read. The future promises to be interesting that's for sure.
Randy
I didn't. Do share the info.
Randy
Not that I have any for sale....but if you want more shares....raise your bid or buy at the ask. :)
Randy
agreed.
Randy
I talked to Dan S at CEOcast who said he is in contact with YahooFinance and Melissa Rice.
My converstation with him wasn't too promising IMO. I don't think he really understands the categories of current and previous filings and how Yahoo Finance reports them. He did say he would look into it further.
BTW, he said if there are shareholder questions he's the guy to talk to. If he doesn't know the answer. He will get it for us....and any other shareholders that might call for the information.
So... give the guy a call and see what you can learn.
Contact:
Daniel Schustack
CEOcast, Inc. for Dynamic Response Group
(212) 732-4300
Agreed. I saw this post by blockman on brentjanice's H.I.S. board:
Overstock CEO Comments on SEC's New Rules Against Naked Short Selling
'No penalties for financial rapists' declares Byrne
Last update: 3:08 p.m. EDT Sept. 17, 2008
SALT LAKE CITY, Sept 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- Overstock.com, Inc. (OSTK:overstock com inc del com
News, chart, profile, more
Last: 17.14-1.33-7.20%
3:59pm 09/17/2008
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Sponsored by:
OSTK 17.14, -1.33, -7.2%) chairman and CEO Patrick M. Byrne comments on the SEC's September 17, 2008 press release (see http://www.sec.gov/news/press/2008/2008-204.htm) that purports to protect investors against naked short selling.
Dr. Byrne commented, "At the core of the SEC announcement is a decision that if a hedge fund naked shorts a stock, its broker isn't supposed to let them naked short again. But guess what: they were not supposed to naked short in the first place. Instead of giving the buyer who receives the fail the right to put it back to the naked short selling participant, the SEC once again opts for no penalties for financial rapists.
"If the SEC were anything but a hedge fund bootlick," continued Byrne, "it would not have taken the half-measure of a pre-borrow requirement applied only as a penalty for those failing to deliver within T+3, but would have instituted a market-wide pre-borrow requirement (as it did in its July 15, 2008 Emergency Order protecting Upper Caste financial firms), and mandatory buy-ins at T+3.
"Some questions for the SEC:
1. How will the SEC determine whether an institution is in compliance with this rule? The only way to determine compliance is through an SEC audit, something that could only occur months after the fact. In the case of a bear raid, that will be too late.
2. Where is the 'buy-in' requirement? Under the new SEC rules a crooked hedge fund can still naked short sell without settlement and keep that short open indefinitely. It appears that only future naked short sales will require a pre-borrow and that there is still no closeout requirement for failed trades.
3. What of manipulative day trading? Chairman Cox has admitted that the financial stocks did not have a significant level of naked shorts, but rather collapsed under day trading activities. The new rule fails to address this, the very activity that generated the need for the July 15, 2008 emergency order. The manipulative day trading short seller never has a position open for three days. However, under the new rules, he can still use a single locate multiple times to create the best leverage possible to drive natural investors out of the market.
4. Where are the penalties? Without meaningful penalties, these rules have no bite. The SEC needs to make sure that the rules are strictly and aggressively enforced -- both for failures to deliver that occur within the CNS system and outside the CNS system in ex-clearing trades, where, I suspect, there is naked shorting that makes the object of current SEC concerns look like small potatoes.
"Rule 10b-21, the short selling anti-fraud rule, is a carefully contrived joke. It moves from a low-penalty too-vague-to-enforce rule, to a high-penalty too-vague-to-enforce rule. Without strict and aggressive SEC enforcement (for which the SEC has zero demonstrated record) it will be just more lines of meaningless pabulum in the Federal Register.
"On the bright side, the SEC has eliminated a major loophole in Regulation SHO, the options market maker exception. There was never a good reason why options market makers should have been allowed to naked short and fail to deliver in perpetuity. For taking this long overdue action, I applaud the SEC.
"What is needed is a Congressional investigation into the abortion that is our nation's stock settlement system, focusing especially on the DTCC. A healthy next step would be to unplug the SEC and move its functions into the DOJ."
About Overstock.com
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding investor protections against naked short selling. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.
http://www.overstock.com
Copyright (C) 2008 PR Newswire. All rights reserved
Overstock CEO Comments on SEC's New Rules Against Naked Short Selling
'No penalties for financial rapists' declares Byrne
Last update: 3:08 p.m. EDT Sept. 17, 2008
SALT LAKE CITY, Sept 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- Overstock.com, Inc. (OSTK:overstock com inc del com
News, chart, profile, more
Last: 17.14-1.33-7.20%
3:59pm 09/17/2008
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Sponsored by:
OSTK 17.14, -1.33, -7.2%) chairman and CEO Patrick M. Byrne comments on the SEC's September 17, 2008 press release (see http://www.sec.gov/news/press/2008/2008-204.htm) that purports to protect investors against naked short selling.
Dr. Byrne commented, "At the core of the SEC announcement is a decision that if a hedge fund naked shorts a stock, its broker isn't supposed to let them naked short again. But guess what: they were not supposed to naked short in the first place. Instead of giving the buyer who receives the fail the right to put it back to the naked short selling participant, the SEC once again opts for no penalties for financial rapists.
"If the SEC were anything but a hedge fund bootlick," continued Byrne, "it would not have taken the half-measure of a pre-borrow requirement applied only as a penalty for those failing to deliver within T+3, but would have instituted a market-wide pre-borrow requirement (as it did in its July 15, 2008 Emergency Order protecting Upper Caste financial firms), and mandatory buy-ins at T+3.
"Some questions for the SEC:
1. How will the SEC determine whether an institution is in compliance with this rule? The only way to determine compliance is through an SEC audit, something that could only occur months after the fact. In the case of a bear raid, that will be too late.
2. Where is the 'buy-in' requirement? Under the new SEC rules a crooked hedge fund can still naked short sell without settlement and keep that short open indefinitely. It appears that only future naked short sales will require a pre-borrow and that there is still no closeout requirement for failed trades.
3. What of manipulative day trading? Chairman Cox has admitted that the financial stocks did not have a significant level of naked shorts, but rather collapsed under day trading activities. The new rule fails to address this, the very activity that generated the need for the July 15, 2008 emergency order. The manipulative day trading short seller never has a position open for three days. However, under the new rules, he can still use a single locate multiple times to create the best leverage possible to drive natural investors out of the market.
4. Where are the penalties? Without meaningful penalties, these rules have no bite. The SEC needs to make sure that the rules are strictly and aggressively enforced -- both for failures to deliver that occur within the CNS system and outside the CNS system in ex-clearing trades, where, I suspect, there is naked shorting that makes the object of current SEC concerns look like small potatoes.
"Rule 10b-21, the short selling anti-fraud rule, is a carefully contrived joke. It moves from a low-penalty too-vague-to-enforce rule, to a high-penalty too-vague-to-enforce rule. Without strict and aggressive SEC enforcement (for which the SEC has zero demonstrated record) it will be just more lines of meaningless pabulum in the Federal Register.
"On the bright side, the SEC has eliminated a major loophole in Regulation SHO, the options market maker exception. There was never a good reason why options market makers should have been allowed to naked short and fail to deliver in perpetuity. For taking this long overdue action, I applaud the SEC.
"What is needed is a Congressional investigation into the abortion that is our nation's stock settlement system, focusing especially on the DTCC. A healthy next step would be to unplug the SEC and move its functions into the DOJ."
About Overstock.com
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding investor protections against naked short selling. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.
http://www.overstock.com
Copyright (C) 2008 PR Newswire. All rights reserved
Banning Naked Shorting Hype Answered. ["No penalties, not oversight. No Change" my Comments: RandyKsd]
Overstock CEO Comments on SEC's New Rules Against Naked Short Selling
'No penalties for financial rapists' declares Byrne
Last update: 3:08 p.m. EDT Sept. 17, 2008
SALT LAKE CITY, Sept 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- Overstock.com, Inc. (OSTK:overstock com inc del com
News, chart, profile, more
Last: 17.14-1.33-7.20%
3:59pm 09/17/2008
Delayed quote dataAdd to portfolio
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Financials
Sponsored by:
OSTK 17.14, -1.33, -7.2%) chairman and CEO Patrick M. Byrne comments on the SEC's September 17, 2008 press release (see http://www.sec.gov/news/press/2008/2008-204.htm) that purports to protect investors against naked short selling.
Dr. Byrne commented, "At the core of the SEC announcement is a decision that if a hedge fund naked shorts a stock, its broker isn't supposed to let them naked short again. But guess what: they were not supposed to naked short in the first place. Instead of giving the buyer who receives the fail the right to put it back to the naked short selling participant, the SEC once again opts for no penalties for financial rapists.
"If the SEC were anything but a hedge fund bootlick," continued Byrne, "it would not have taken the half-measure of a pre-borrow requirement applied only as a penalty for those failing to deliver within T+3, but would have instituted a market-wide pre-borrow requirement (as it did in its July 15, 2008 Emergency Order protecting Upper Caste financial firms), and mandatory buy-ins at T+3.
"Some questions for the SEC:
1. How will the SEC determine whether an institution is in compliance with this rule? The only way to determine compliance is through an SEC audit, something that could only occur months after the fact. In the case of a bear raid, that will be too late.
2. Where is the 'buy-in' requirement? Under the new SEC rules a crooked hedge fund can still naked short sell without settlement and keep that short open indefinitely. It appears that only future naked short sales will require a pre-borrow and that there is still no closeout requirement for failed trades.
3. What of manipulative day trading? Chairman Cox has admitted that the financial stocks did not have a significant level of naked shorts, but rather collapsed under day trading activities. The new rule fails to address this, the very activity that generated the need for the July 15, 2008 emergency order. The manipulative day trading short seller never has a position open for three days. However, under the new rules, he can still use a single locate multiple times to create the best leverage possible to drive natural investors out of the market.
4. Where are the penalties? Without meaningful penalties, these rules have no bite. The SEC needs to make sure that the rules are strictly and aggressively enforced -- both for failures to deliver that occur within the CNS system and outside the CNS system in ex-clearing trades, where, I suspect, there is naked shorting that makes the object of current SEC concerns look like small potatoes.
"Rule 10b-21, the short selling anti-fraud rule, is a carefully contrived joke. It moves from a low-penalty too-vague-to-enforce rule, to a high-penalty too-vague-to-enforce rule. Without strict and aggressive SEC enforcement (for which the SEC has zero demonstrated record) it will be just more lines of meaningless pabulum in the Federal Register.
"On the bright side, the SEC has eliminated a major loophole in Regulation SHO, the options market maker exception. There was never a good reason why options market makers should have been allowed to naked short and fail to deliver in perpetuity. For taking this long overdue action, I applaud the SEC.
"What is needed is a Congressional investigation into the abortion that is our nation's stock settlement system, focusing especially on the DTCC. A healthy next step would be to unplug the SEC and move its functions into the DOJ."
About Overstock.com
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding investor protections against naked short selling. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.
http://www.overstock.com
Copyright (C) 2008 PR Newswire. All rights reserved
The data is pretty much all screwed up. I'll give Dan S. a call from CEOcast and see if it can be corrected.
Randy
For the 2Q 2008
1. Gross Revenue was $9.55 Million
2. Net Revenue was $7.23
3. Reported net loss of $1.84 million.
Not sure how they could screw that up...unless the math doesn't add up on the 10Q....which I haven't checked out yet.
Randy
Well according to Beacon Equity newsletter....there's all kinds of money to be made by buying GXPI. Who knew?
[BTW in case you're not hearing my sarcasm...trust me it's there. :) ]
This was on Businesswire this AM:
Gemini Explorations Inc. Reiterated 'Speculative Buy' Rating, Target Price $1.23 by Beacon Equity Research
Last update: 9/18/2008 7:00:02 AMDALLAS, Sep 18, 2008 (BUSINESS WIRE) --
Gemini Explorations Inc. (GXPI) has received a reiterated Speculative Buy rating with a price target of $1.23 by Beacon Analyst, Victor Sula, Ph.D.
The full report is available at Anyone interested in receiving alerts regarding GXPI research should e-mail members@beaconequity.com with "GXPI" in the subject line.
In the report, the analyst writes, "Encouraging results from the Company's Summer 2008 exploration program, and the enormous reserve potential associated with both the La Tapata and La Planada projects, suggest to us that Gemini Exploration has a better-than-average likelihood of producing meaningful revenues and profits. We think that Gemini Exploration is significantly undervalued at current price levels and are reiterating our Speculative Buy rating and $1.23 price target."
Other companies in the mining sector include: Barrick Gold Corp. (ABX), Newmont Mining Corp. (NEM), AngloGold Ashanti Ltd. (AU) and Gold Fields Ltd. (GFI). Beacon Equity Research Disclosure The analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. BeaconEquity.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities.
BeaconEquity.com is a wholly owned entity of BlueWave Advisors, LLC, which has previously been compensated fifty thousand dollars from Caroline Industries and six thousand five hundred dollars from Equity Alliance, a shareholder of GXPI, as well as three thousand five hundred dollars directly from GXPI, as a marketing budget to manage a comprehensive investor awareness program including the creation and distribution of this report as well as other investor relations efforts. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete.
Please read our report and visit our Web site, BeaconEquity.com, for complete disclosures. SOURCE: Gemini Explorations Inc.
BeaconEquity.com Jeff Bishop, 469-252-3505 press@beaconequity.com or Gemini Explorations Inc. Michael Hill, 403-697-4877 President and CEO info@geminiexploration.comCopyright Business Wire 2008
It's nice that every now and then someone takes position or averages down and then wants to encourage everyone else to buy so that the share price can move higher.
Stocks that move one way or the other based on emotion and market sentiment are going to have bag holders and winners.
Buy and sell wisely.
Randy
BTW if your abrasive language continues your posts will be deleted.
Why take prozac when you can buy BLLB? LOL.
It's actually better to experience the pain than to ignore it. Else you will forget the lessons you were supposed to learn. A good education isn't cheap. I know.
Better to go for bike ride or maybe a walk.
Have a good night.
Randy
TRUTH PROJECT CHRONICLES (3)
Who Is Man?”
By Pastor Randy Klynsma
[These articles are based on lessons in Focus on the Family's The Truth Project. They have been running in our local newspaper--The Bridgewater Tribune. ]
Our first lesson asked, “What is Truth?” The world believes that truth is what you make it—whatever you believe. However, this falls far short. Truth is exact accordance to what is, was or will be. In short truth is best known from God’s perspective and His revealed Word. In this light, the truth is logical and coherent. Obeying it leads to life and happiness. Unfortunately, the Lies of the world and the Evil One oppose this truth and morality at almost every point. Regrettably, when one adopts the world’s morality, it almost always leads to sorrow, sadness and death.
This was the basic theme of the Second Lesson. We need to beware of hollow and deceptive philosophy. The world tries to answer the “ultimate” or “universal” questions of life while denying that God exists and that his “Truth” (or reality) doesn’t’ matter. The Book of Ecclesiastes says this is vanity a grasping for the wind.
Well, in the Third Lesson, Dr. Brackett turns his attention to the question of anthropology, “Who man, where did he come from? Why is he here?” He answers these questions by looking at what the Bible has to say. The Bible teaches that man consists of both body and spirit and is created in the image of God. You’ve likely heard or read the verse from Genesis 1, “Let us make man in our image, in our likeness.” Our culture assumes that he is purely material, the product of mindless, purposeless forces. Man is the product of evolution—or as the video says, “Goo-man…Up from the goo he arose.” In other word, they believe we are just highly developed pond scum.
The Bible reveals that man has rebelled against God and fallen from his original state of innocence. It adequately accounts for the world in which we live and the troubles and trials of mankind. In fact, it is only Christianity that can adequately account for the presence of Evil in the world. Contemporary thought maintains that humankind is "basically good." They basically deny what we see all around us in the world. That man is sinful that he does bad and even evil things in the world. Remember 9-11.
Lastly, the Bible affirms man's need for divine grace, redemption, and regeneration. In short fallen man needs the Gospel of Jesus Christ. Popular thinking asserts that "self-actualization" is the key to happiness and fulfillment.
These fundamental denials about the nature of man are called the “pernicious lie.” It affects how people of the world see themselves in the world and how they live in the world.
How do you see yourself? As an evolved monkey or a special creation in need of God’s grace? How you answer this question should determine where you look for happiness and how you live.
O I C U R 1 of those paid moderators. :)
RK
TRUTH PROJECT CHRONICLES (3)
Who Is Man?”
By Pastor Randy Klynsma
Our first lesson asked, “What is Truth?” The world believes that truth is what you make it—whatever you believe. However, this falls far short. Truth is exact accordance to what is, was or will be. In short truth is best known from God’s perspective and His revealed Word. In this light, the truth is logical and coherent. Obeying it leads to life and happiness. Unfortunately, the Lies of the world and the Evil One oppose this truth and morality at almost every point. Regrettably, when one adopts the world’s morality, it almost always leads to sorrow, sadness and death.
This was the basic theme of the Second Lesson. We need to beware of hollow and deceptive philosophy. The world tries to answer the “ultimate” or “universal” questions of life while denying that God exists and that his “Truth” (or reality) doesn’t’ matter. The Book of Ecclesiastes says this is vanity a grasping for the wind.
Well, in the Third Lesson, Dr. Brackett turns his attention to the question of anthropology, “Who man, where did he come from? Why is he here?” He answers these questions by looking at what the Bible has to say. The Bible teaches that man consists of both body and spirit and is created in the image of God. You’ve likely heard or read the verse from Genesis 1, “Let us make man in our image, in our likeness.” Our culture assumes that he is purely material, the product of mindless, purposeless forces. Man is the product of evolution—or as the video says, “Goo-man…Up from the goo he arose.” In other word, they believe we are just highly developed pond scum.
The Bible reveals that man has rebelled against God and fallen from his original state of innocence. It adequately accounts for the world in which we live and the troubles and trials of mankind. In fact, it is only Christianity that can adequately account for the presence of Evil in the world. Contemporary thought maintains that humankind is "basically good." They basically deny what we see all around us in the world. That man is sinful that he does bad and even evil things in the world. Remember 9-11.
Lastly, the Bible affirms man's need for divine grace, redemption, and regeneration. In short fallen man needs the Gospel of Jesus Christ. Popular thinking asserts that "self-actualization" is the key to happiness and fulfillment.
These fundamental denials about the nature of man are called the “pernicious lie.” It affects how people of the world see themselves in the world and how they live in the world.
How do you see yourself? As an evolved monkey or a special creation in need of God’s grace? How you answer this question should determine where you look for happiness and how you live.
OK then. . I'm not loosing my mind. Thanks. :)
Randy
Here's a dumb question for you... I'm having a mental block...which team is DNP?
I'm still holding a token position. Should have flipped out a few weeks ago, I guess.
RK
Put me down for Buffalo in week #3
Isn't it great that we have the opportunity to share in that legacy. I'll admit that I've not been around this deal for very long, especially compared to some of you long timers.
However, if and when (I know big IF and big WHEN) the JV actually gets announced....to have been this close and to have been a part of such an historical event will be pretty cool. At least theoretically, such a merger will be talked about and reminisced about for years to come.
Since I've been following the story, it has seemed to be confirmed and backed up with real progress. I suppose this might have always seemed like the case, but it's enough to keep the dream alive for me.
Best regards and good luck to all.
Randy
Congrats on an awesome game. It is certainly one to remember.
Defensive preasure came through when it had to.
Regards,
Randy
For reference I remember the finances posted to Pinksheets said in 2006 bell buckle had over a million in revenue and net incomeof $112K.
Wonder if that was legit?
Randy
WEll there you have have it.
You can buy nearly 10x's the number of shares of GEAC for the same price....and have a sexy website promoting your stock to boot.
I'm not actually recommending either one...but it is at least an intriguing comparison.
Regards,
Randy
Preciouslife, I appreciate the thought and perspective that went into writing that post.
AS you know the Apostle Paul epitomized this attitude and could say of himself, "and if I am poured out as a drink offering to the service of you faith, I am glad."
To be useful and in the end used up by the end of our lives should be the goal.
Have a great week.
Randy
Well, after having had the possibility of making a few hundred bucks...I had to be satisfied with about a hundred.
No problem. It has really been a hoot to watch the company trade over the last weeks. Pretty volitile.
I'm back on the sidelines.
Randy
Agreed. If you liked it at higher levels, you've got to love it at these.
Randy
I took a few minute look and I think it looks pretty good. Although it makes one wonder about what people were thinking when it was trading in the mid-teens. I would be much more comfortable buying at current levels.
It is clearly going through a down phase...when will that stop and it start going up? Good question.
Revene growth has been impressive... I think share price decline is mostly attributed to the near million dollar loss. I'd like to find out what accounts for it.
Looks to me to be a pretty sound company....substantial cash, low debt, intriguing business.
What are your thoughts?
Randy
Bell, I guess my question was directed more broadly than just the stocks that we've mentioned.
Perhaps better stated, "What are some addiotoinal the reasons the Chinese stocks as a whole are down 40%?"
A couple factors could be they own a large percentage of US Treasuries and Bonds.....US Dollar denominated securities and assets, etc. I'm sure the sub-prime mortgage scandal and decline in financials have hit them as hard as anyone.
The decades old bull market (industrial revolution) is largely dependent upon a flourishing US economy....or at least some flourishing economies somewhere in the world.
I'm sure there are other possibilities.
Randy
Put me down for the NY Giants
My Answer to a Question on SI: "Why does the stock price keep falling, then?
"That is a good question. I think it is probably some combination of the following aspects: discouragement, psychology, and [MM and Management] manipulation (possibly some of each).
"I think some of the selling is a show of discouragement by current investors. It is really tiresome to look at your portfolio and see huge percentage losses.
"Other penny investors and momentum players don't look at the value of a company at any particular price...just whether it is moving in one direction or the other.
"For many the primo question is "Where is there money to made the quickest?"...OR...perhaps the more optimistic among us, "Where am I most likely to double my money?" If there is little expectation that there will be price movement for the next month or so...many will take their losses, lick their wounds and move on to some other big story--potential winner.
"With that rationale impatient people or adrenaline driven investors are willing to sell out a losing or stagnated position of what in many respects a pretty solid investment. This selling leads to more selling and pretty soon more people become discouraged and also sell.
"Add to the mix the possibilities of market maker and management manipulation, and it is really hard to know what to believe and what not to.
"For a long time we just figured there was a major seller. We even named him, "The Dumper." My theory was that someone like a founder had put up a bunch of stock as collateral for a loan...and defaulted. No verification...but it makes as much sense as anything.
"I guess that's my answer. Just a bunch of theories."
Randy
LOL. Yeah I caught that.
Randy
Now that was a great story. Thanks. Also, I already liked Tony Romo as a pretty talented guy....but now I like him even more.
Regards,
Randy
Wow. That's a full AMX stock as well. I think there's just a bit of fear/suspicion surrounding a lot of these chinese stocks. What else would account for the exceptionally low PE ratios.
Also, CNEH has been mentioned in the last week or two. It has continued it's decline...now to the low $2's. It's a gas and oil stock trading at a PE ratio of 4.
A fovorite of mine GNPH Genesis Pharmaceuticals.... another chinese company now trading at a PE ratio of 3.37.
Or LTUS another chinese pharmaceutical company..... trading at a PE ratio of of probably 4 or 5.
I wonder what the underlying rationals are....
To many bargains closer to home?
Skepticism about the data being reported?
Other ideas? Explanations?
Oh yeah...the reverse split.....momentary memory lapse....
No sure about .06....I thought the ninth month numbers said .05 which would translate to e.p.s. of $2.00.
Thanks,
Randy
Well, the cycical part of me thinks that instead of buying shares on the public market would more likely just issue themselves some more and sell them. Hard to say.
This whole story has been intriguing enough for me to follow I though I don't own any shares at the present.
Regards,
Randy
Oh yeah... the link you provided didn't include the report from the Q2 that ended March 31, 2008.
That included:
For the Three months ending 3/31/2008:
Revenue of: $28,100,28
Net Income: $6,165,430
EPS: $.01
For the Nine Months Ending 3/31/2008
Revenue of: $71,259,900
Net Income: $17,639,919
EPS: $.05
It is my opinion that Longs can just sit back and relax and watch your accounts appreciate over the next 5-10 years.
Someone should really contact Yahoo Finance and get the right data available on there. If memory serves the request has to be made through Capital IQ.
Just for all you folks I just sent them an email. As I've done this before, I'm guessing that in two-three days you will see at least some of the links on Yahoo Finance show up.
Also, a number of them will have to wait for the Full Annual Report to be filed...it will take a week or two from filing date:
Here's my letter to Capital CQ:
RE: Data Feed for Genesis PharmaceuticalsThursday, September 11, 2008 12:44 PM
From: "Mr Randall
To: sales@capitaliq.com
Hello.
I am an investor and noticed that the information for Genesis Pharmaceuticals GNPH.OB is not available on Yahoo Finance.
It is my understanding that your company has a roll in providing this information to Yahoo Finance.
I would appreciate it if you would take whatever steps you are able to increase the data flow link for Key Statistics.
Thank-you and take care.
Randall K
Boy all of this just makes me want go out and buy some stock of this company.
NOT!!!
RK
Hey Jux, I recall Bainbridge came up in a conversation with Capt Rod or Brad...and the lady that had owned Bainbridge had sold company to someone else...and the deal fell through.
At this point, the Bell Buckle became involved and acquired the company. It is my understanding that their motivation was to acquire the rights to the name, products and distribution channels. I had never heard that they had advanced utilizing them much.
I'm not sure positive if memory serves me correctly, I think the total consideration was less than $100,000. It's been a while and this is my recollection of it. It would be nice to have fuller disclosure of how things are going. News black out is basically a disregard of investors and their concerns.
Randy