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That's what gets me (actually one of many things), DTT trusted them a year ago when I wasn't invested, now suddenly they don't? Where was all the talk of restatements when they signed off last year? There seems to be plenty of lying and incompetence to go around here.
If DT cant trust the representations of the company, than the f'in CEO has to f'in go! Come everyone!!!
I think we need to change this board's name to the "CCME Support Group".
It looks bad right now, but let's get some details on WTF actually happened before we all jump out a window.
I want some answers!
Well said, I couldn't agree more.
At this point I seriously doubt it could be Deloitte resigning. The SEC doesn't just allow a company to just sit on news like that and release it at their leisure.
I really think the halt was due to all the naked shorting and manipulation (look at all the new attacks just this weekend). The company was basically granted a little breathing room from the NASDAQ. Now we're waiting for an earnings announcement from the company. A buy out/in would just be icing on the cake.
My opinion, nothing else.
I don't know if Loeb has any connection to the CCME saga but his tactics sure sound familiar.
http://www.cnbc.com/id/42030396
After digesting all the theories over the weekend, some wild, some plausible, most followed by the words "this seems very unlikely", I'm starting to think the simplest story might be the truth.
My guess is CCME management got tired of all the hit pieces, bear raids and general manipulation of their stock price and finally asked the NASDAQ for the halt on Friday (They may have even gotten word of the latest round of hit pieces that rolled out over the weekend). With all the naked shorting activity and strange options trading, which the NASDAQ was obviously aware of (how could they not be) it seems a legitimate request.
Since the company can't really defend themselves at the moment (pending the latest 10-K) a halt is the best way (and really the only way) to keep the shorts from completely destroying a good company with their endless barrage of rumors and hit pieces.
I think the next words we hear from the company will simply be the audited earnings numbers we've been expecting. Then the fun really begins!
The Japanese earthquakes are a tragedy of epic proportions and my heart goes out to all the people effected.
That said, the IHUB CCME forum isn't the place for that discussion. We have plenty of CCME related material to discuss, that's what this forum is for. Let's all try to stay on topic.
Not singling you out Koufax, I appreciate all you do here. Yours was just the most recent relevant post I could hit "public reply" on.
I'm just saying, the shorts are yanking our chains. They've got people here debating the meaning of silence for god sakes! We're just gumming up the board and making it harder to find the truly informative posts.
I don't see the point in responding to these guys, it's not like they're ever going to concede an argument and I doubt they even believe the crap they post in the first place.
Does it occur to anyone that if the shorts were confident in their position they wouldn't be all over the message boards desperately trying to drag the stock price down mere days before earnings? If they really knew something they'd shut up, let the stock run and wait for the company to implode on its own. They'd stand to make a lot more money that way and we all know the shorts are all about making money at all costs. But that's not what they're doing, instead they're here 24/7 posting garbage and a lot of you guys are taking the bait.
It's time to sit back, place your bets and see what develops. This "US vs THEM" mentality just creates a lot of unneeded emotion. It's a stock, not your kid's little league team! Emotion has no place in investing.
I think what I'm really trying to say is, I just spent an hour catching up on posts and I want that hour of my life back!
UTA - I'm still amazed that a guy who runs a payday loan store in Costa Mesa can invent a research firm, toss up a quick website, put out a pdf and a couple YouTube videos and shave 12% off the market cap of a publicly traded company.
I figured people would see this nonsense and yawn. Shows what I know.
UTA - MW - This is kinda funny. Looks like Muddy Waters needs to sue Glaucus for plagiarizing their disclaimer. It's basically word for word! I guess stealing is a lot cheaper than hiring your own attorney.
http://www.muddywatersresearch.com/terms-of-service/
http://glaucusresearch.com/LegalDisclaimer.html
There's no honor amongst thieves.
UTA - Get to know your basher...
Glaucusresearch.com was registered Jan 17th, 2011 and the owner reserved it for 1 whole year. Looks like he doesn't plan on being around long. Total cost on GoDaddy, $11.99.
http://domain-daily.com/whois/glaucusresearch.com
It's set up in a simple blog format (something a child could set up in less than an hour) and, naturally, there's zero contact information on the site. Looks to me like it was setup solely for the purpose of bashing UTA.
I hope the guy covered on that 10 cent dip he created!
UTA - Looks like the hit-piece crowd has learned to use YouTube.
You mean he's not a failed lawyer that runs a self storage business? Lol!
UTA - What's up with they screwy trading this morning?
It opened around $6.45. At 9:45 it fell off a cliff to $6.25, then steadily climbed up to $6.75. At 11:00 it dropped back instantly to $6.45. Now we're trading normally again. Very strange.
All I know is 2 months ago they were very high on CCME...
http://www.scribd.com/doc/47598147/CCME-Top-Pick-of-2011-Northland-Securities
I doubt if much has changed.
The real mystery to me is why people believe anything this guy puts out? He's a nobody with a shady research firm that makes money shorting then trashing companies. He doesn't even have a phone number, yet somehow he has the pull to get a puff-piece interview published in Barron's mere days before his latest target announces earnings? Amazing!
You'd think the slightest hint of journalistic integrity at Barron's would require them wait a few days to see his latest work blow up in his face before giving him free reign to spread his nonsense.
My guess is somebody pulled some serious strings to get that ridiculous interview published in such a timely manner.
Carson can't even seem to figure out the right bus to get on!
The reality is that nothing will, it doesn't even matter to them. All they ever wanted to do was change the conversation from "how great is this company?" to "is CCME a fraud?". That's what they did and that's all they needed to do to make their profits.
My question to the shorts ...
WHAT WOULD IT TAKE TO CONVINCE YOU THAT CCME IS NOT A FRAUD!
If Herb was right (which he's not) it makes CCME management look stupid and reckless for starting a rumor that instantly sheared a couple bucks off their share price making a ton of cash for the shorts.
Yep, Muddy Waters was hoodwinked alright, hoodwinked like a fox!
Reading through the MW "report", I thought it was hilarious that Carson actually went with the "you can trust me, I'm an American" card.
"If one questions whether it is Muddy Waters, LLC – and not CCME – that has fabricated information and documents, we
point out the following. Our research director and sole member manager, Carson Block, is a United States citizen with
assets and family in, and significant ties to, the United States. Although we do not know the extent of CCME
management’s ties to the United States, we venture to guess that they are significantly less than those of Mr. Block."
Ironic how Muddy Waters latest hit piece may have triggered the short squeeze we've been looking for.
IMO they blew all their current, past, and future credibility in one fell swoop today. I mean, how can anyone ever believe them again when they're obviously willing to fabricate evidence to pad their brokerage accounts.
I just hope Citron isn't sitting on some damaging telegrams or hidden camera footage from inside the locker room at Jacky's country club. Lol!
They're just inventing them out of thin air. As long as hedge funds know brokers willing to look the other way, they'll have a virtually endless supply of shares to take us down. RegSho is a good concept but basically useless in reality if you ask me.
IMO, the best case is the company posts strong audited numbers and the shorts move on to another victim. When you back them in a corner they get mean and they fight dirty.
The mystery remains - where are they getting the shares to short?
Ah yes, Milberg LLC. Formerly Milberg Weiss. Whatever happened to ol' Mel Weiss anyway? Oh yeah, he was indicted for giving kickbacks to his clients for filing class action suits. This is a crazy story!
http://money.cnn.com/magazines/fortune/fortune_archive/2006/11/13/8393127/index.htm
We can't believe their "research" so why should we believe their disclosure statement? It's not like they're worried about getting in trouble for misstating things.
MW said they had no position as of the publication. In the nanosecond after pressing send on their e-mail, they could have bought or sold.
If Deloitte even acknowledges MW's existence I'd be shocked and disappointed.
As of the date of this statement, Muddy Waters, LLC has no position in the securities covered herein, although we previously have had short positions in such securities.
Wait, so they stand by their conclusions yet they covered their short position? Doesn't sound like Carson has much faith in his own material!
CCME - I'm sure Deloitte & Touche is sitting anxiously by their fax machines waiting for Carson's paperwork to come across!
Just so it's not Chinese New Year, I'm cool with that.
Reminder Markets closed Monday Feb 21st Presidents Day.
Stop-losses and margin are just playthings for the shorts!
With the bang up job they did defending LLEN, I'm almost starting to think they're in league with the shorts. A Redchip endorsement is about as good as a Muddy Waters hit piece if you ask me.
Hit pieces aren't enough for the shorts, now they're registering hit sites?? This is getting silly!
Somebody out there REALLY wants to take this company down.
Looks like the new chat room killed the board. CCME drops @1.25 in 3 minutes and not even one comment?
TSTC - Quiet, the shorts might hear you!
If there's such a thing as karma, they'll both get hit by a CCME bus while crossing the street.
CCME - Even a guy who shorts 90% of his trades had his BS meter go off on the hit pieces...
http://seekingalpha.com/article/250957-china-mediaexpress-holdings-investors-crushed-in-rush-for-the-exit
Impressive work! You've got skills. I almost shorted BIDU just based on your fake hit piece. Good thing I came to my senses in time.
Next we'll need a website which will cost another $10, once again, on me.
So for a grand total of $214, we can have the same credibility as Citron and Muddy Waters.
I'm in! I'll even toss in the $204 it takes for the Nevada LLC. The expensive part is buying the Storage franchise in Shanghai to operate out of. Perhaps we could all go in on a laundromat instead.
That being said, if nothing substantial occurs, then I would likely consider banding with whoever else here is interested and just form a "research company", perhaps "Dirty Rivers", and we can agree to write some articles, heavily short the shares, and then release the negative articles in tandem. I mean, if there are no legal implications for saying whatever slanderous things we want about a company, then why not do it and get rich?
Apparently that guy values the opinion of a person who runs an investment research company out of a self storage facility in Shanghai over the actions of Forbes, IBD, Deloitte, and Hank Greenberg.
The world officially makes no sense to me.