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Very interesting and now we know how much short selling there really is and why they are able to keep the pps down on many of your investments. I have always thought that the stock market was crooked and the MM's control the playing field and the proof is in the pudding. Read and see if any of these companies that are listed might be one of your investments now or in the past. I see some that I have taken a position in before and there are many companies that aren't even aware that it is happening to them yet. Walk
Jun 10, 2004 (financialwire.net via COMTEX) -- (FinancialWire) The unauthorized listings of public companies on the Berlin Stock Exchange has raised eyebrows and resulted in dozens of companies asking to be "delisted," but that is nothing compared to the touchy diplomatic situation developing following the discovery by Israeli business newspapers that almost two dozen Israeli companies are included.
Germany has taken precautions over the years to be especially accommodating when it comes to Israeli interests and concerns, given the history between the two cultures, and observers believe the listing for Teva Pharmaceuticals (TEVA), Check Point (CHKP), Amdocs (DOX), and Comverse Technology (CMVT), for example, will be short-lived if the companies ask to be delisted.
Other Israeli companies unwitting listed on one or more German exchanges include Koor Industries (KOR), Partner Communications (PTNR)(PCCDPCCD), Mercury Interactive Corporation (MERQ), Elbit Systems (ESLT), ECI Telecom (ECIL), Given Imaging (GIVN), TTI Team Telecom International (TTIL), AudioCodes (AUDC), Tower Semiconductor (TSEM), Taro Pharmaceutical Industries (TARO), Radware (RDWR), and RIT Technologies (RITT).
Representatives of some of the companies expressed concern that in addition to their other concerns, the listings may provide opportunities for manipulators to short their stocks, according to Globes, at
http://www.globes.co.il/serveen/globes/docview.asp?did=803785&fid=942 .
At the same time, a long-awaiting hearing on Regulation SHO, said to be planned yesterday to consider proposed amendments, was cancelled due to the Reagan funeral activities. Some believe it may be rescheduled for June 21, but this has not been confirmed.
Naked short selling is worrisome for hundreds of small U.S. companies, including those recently asking to be delisted from the Berlin Stock Exchange, such as Golden Phoenix Minerals, Inc. (GPXM), Nannaco, Inc. (NNCO), 5G Wireless Communications, Inc. (FGWC), CyberAds, Inc. (CYAD), Provectus Pharmaceuticals, Inc. (PVCT), House of Brussels Chocolates (HBSL), InforMedix, Inc. (IFMX), Tissera, Inc. (TSSR), Americana Publishing, Inc. (APBH), Celsion Corporation (CLN), ChampionLyte Holdings, Inc. (CPLY), Pickups Plus, Inc. (PUPS), China Wireless Communications Inc. (CWLC), CareDecision Corp. (CDED), Titan General Holdings, Inc. (TTGH), IPVoice Communications, Inc. (IPVO), Whistler Investments (WHIS), WARP Technology Holdings, Inc. (WRPT), BGR Corp. (OTCBB: BGRR), ICOA, Inc., (ICOA), DICUT, INC. (OTCBB: DCUTE), NHC Communications Inc. (NHC), Stratus Services Group, Inc. (SERV), Golden Phoenix Minerals, Inc. (GPXM).
Berliner Freiverkehr (Aktien) AG has been singled out as the broker and market maker that has been "listing" the companies. It is suspected that one broker, RA Angsar Limprecht, is involved in all if not most of the listings.
Small public companies are squeezed not only by hedge funds, naked short sellers, overseas listers such as the Berlin Stock Exchange, and the out-of-control "Stock Borrow Program" run by the governance-conflict-laden Depository Trust and Clearing Corporation, but to the amazement of the industry, as often and not by their own regulators.
A new staff recommendation by Annette Nazareth, director of the division of market regulation at the U.S. Securities and Exchange Commission to "outlaw" ownership of paper certificates at the same time the Depository Trust and Clearing Corporation is under intense scrutiny for alleged electronic counterfeiting has begun hitting the small public company markets, company executives, shareholders and manipulative short-selling opponents like the proverbial ton of bricks.
A Dow Jones (DJ) article by Judith Burns sparked the uproar, as the inextricably intertwined web of connections between the SEC and the DTC, which is sagging from the weight of conflicted governance by representatives from a rollcall of industry heavyweights, including NASD, which owns NASDAQ (NDAQ), the New York Stock Exchange, Goldman Sachs (GS) and Lehman Brothers (LEH), to name only a few.
The rule proposal would bar stock transfer agents from handling shares that carry any limitations on transfer. Control over stock certificates is one of the ways that small companies have combated illegal naked short sellers. Burns quoted Nazareth as saying that these companies' "self-help" efforts "aren't helping U.S. markets overall." Nazareth was quoted as saying restrictions on stocks are "a significant step backwards" in the "move from paper stock certificates to automated computerized trading."
Nazareth said that abusive "naked" short selling has been a problem "in some cases," but that is "best dealt with by a pending SEC proposal," presumably Regulation SHO.
SEC Commissioner William Donaldson purportedly publicly refused to answer any questions from the NASD about the timing of the Commission's consideration of the Regulation at a conference where he was simultaneously proposing early reforms of the mutual fund scandals. The Dow Jones said, however, that Robert Colby, SEC deputy market regulation division director, predicted the SEC will take that to a vote in early June.
The Dow Jones report noted that "naked short-selling occurs when sellers don't buy shares to replace those they borrowed, a manipulative practice that can drive a company's stock price sharply lower.
The stock certiticate plan has been put to a 30-day comment periodl Then the SEC would have to vote to adopt it. If adopted, Colby was quoted as saying that regulators might "sue firms that seek to impose restrictions on stock transfers."
The recent lawsuit filed by Nanopierce Technologies (NPCT) alleges that the Depository Trust and Clearing Corp. has a lot of reasons, almost one billion of them a year, to keep illegal naked short selling in operation. It was the shot across the bow by the legendary Houston law firms of Christian, Smith, Wukoson and Jewell, and OQuinn, Laminack and Pirtle, whose notches already include environmental targets, the breast implant industry and the tobacco industry, all brought to their knees.
In comments to the U.S. Securities and Exchange Commission, C. Austin Burrell, who is providing litigation support and research for the law firms, said that StockGate is more massive than anyone may have imagined. "Illegal Naked Short Selling has stripped hundreds of billions, if not TRILLIONS, of dollars from American investors," and have resulted in over 7,000 public companies having been "shorted out of existence over the past six years." Burrell said some experts believe as much as $1 trillion to $3 trillion has been lost to this practice.
He stated that the restrictions on short selling were deliberately put into the Securities Acts of 1933 and 1934 because of the first-hand evidence then available that the "sheer scale of the crashes was a direct result of intentional manipulation of US markets through abusive short selling by a massive conspiracy."
Burrell noted that the 65-lawyer team presided over by lead lawyers Wes Christian and John O'Quinn has uncovered more than 1,200 hedge fund and offshore accounts working through more than 150 broker-dealers and market makers in a joint cooperative effort to strip small and medium size public companies of their value.
Recently the NASD and U.S. Securities and Exchange Commission approved an interim naked short-selling band-aid, requiring U.S. brokers to make an "affirmative determination" that short-sellers, even foreign short-sellers, mostly Canadian, can find certificates to cover before processing the order.
Last year, many besieged public companies sought refuge from the manipulation by seeking to exit the DTC, but on June 10, 2003, the SEC stated "the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
The Nanopierce lawsuit, said to be the first of many out of the box, emphatically suggests otherwise. According to lawyer Christian, et.al., the DTC is at the very heart of the problem, and has almost a billion dollars a year at stake in keeping the problem.
The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the SEC. The depository supposedly brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively "dematerializing" most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in "custody."
According to the suit, the DTCC has an enormous pecuniary and conflicted interest in the entire short selling scandal through the huge income stream they were realizing from it every day. They have made literally billions of dollars lending individual real shares, in most cases over and over, getting a fee each time they made a journal entry in the "Stock Borrow Program."
The Stock Borrow Program was purportedly set up to facilitate expedited clearance of stock trades. Somewhere along the line, the DTCC became aware that if it could lend a single share an unlimited number of times, it could collect a fee each time, according to Burrell. "There are numerous cases of a single share being lent ten or many more times," giving rise to the complaint that the DTCC has been electronically counterfeiting just as was done via printed certificates before the Crash.
"Such re-hypothecation has in effect made the potential 'float' in a single company's shares virtually unlimited and the term 'float' meaningless. Shares could be electronically created/counterfeited/kited without a registration statement being filed, and without the underlying company having any knowledge such shares are being sold or even in existence." Burrell said the Christian/O'Quinn lawsuits will seek to show that the "counterfeiting/creation of unregistered shares is a specific violation of the Securities Act of 1933, barring the 'Sale of Unregistered Securities'."
While the Nanopierce lawsuit has been filed at the state level, another companion lawsuit just heading to the courts on behalf of Exotics.com (EXII) will be argued at the Federal level.
Nanopierce's suit in the 2nd Judicial District Court in Nevada, is Case No. CV04-01079, alleges that the DTC's "stock borrow program" was "purportedly created to address SHORT TERM delivery failures," but that the "end result of the program has been to create tens of millions of unissued and unregistered shares to be traded in the public market," and in some instances resulting in "two or more shareholders who purchase shares in separate transactions to own the same shares."
The complaint alleges that the DTC has a colossal disincentive to stop the "stock borrow" program, booking revenues from services of $425,416,000 and similarly, the NSCC deriving revenues of $293,133,000.
Further, the suit alleges that "open positions" resulting from this activity at the close of business on December 31, 2003, "approximated $3,025,467,000" due to NSCC, and $2,303,717,000 due by NSCC, and unsettled positions of $721,750,000 for securities borrowed through the NSCC's "Stock Borrow Program."
Nanopierce claims that DTCC and NSCC have joined in a "scheme" to "manipulate downward the price of the affected securities, thereby reducing the market value of the open fail to deliver positions." The suit also claims that the defendants have permitted sellers to maintain open fail to deliver positions of tens of millions of shares for periods of a year and even longer.
It quotes the National Association of Security Dealers as admitting that "concerns have been raised by members, issuers, investors and other interested parties about potentially abusive short selling activities occurring in the marketplace. In particular, naked short selling, or selling short without borrowing securities to make delivery, can result in long term failures to deliver, including aggregate failures to deliver that exceed the total float of a security. NASD believes such extended failures to deliver can have a negative effect on the market. Among other things, by not having to deliver securities, naked short sellers can take on larger short positions than would otherwise be permissible, which can facilitate manipulative activity."
Nanopierce claims that it had "relied on material misrepresentations and omissions by DTC and NSCC in trading its shares in the stock market "without knowledge of Defendants' fraud-on-the market through statements they made about the clearing and settlement services they provided." Further, it claims that the Defendants acted with "scienter" since they had a major financial financial motivation to falsely represent their services, which Nanopierce claims are also anticompetitive.
The largely unregulated DTC has become something of a defacto Czar presiding over the entire U.S. markets system, wielding more day-to-day influence and control than the SEC, the NASD and NASDAQ combined. And, as the SEC's June 10 ruling indicates, its monopoly over the electronic trading system appears even to be protected.
The Depository Trust and Clearing Corp.'s two preferred shareholders are the New York Stock Exchange and the NASD, a regulatory agency that also owns the NASDAQ (NDAQ) and the embattled American Stock Exchange! Regulators, regulate thyself?
In an era when corporate governance is the primary interest for the SEC and state regulators, the DTCC is hardly a role model. Its 21 directors represent a virtual litany of conflict:
They include Bradley Abelow, Managing Director, Goldman Sachs (GS); Jonathan E. Beyman, Chief Information Officer, Lehman Brothers (LEH); Frank J. Bisignano, Chief Administrative Officer and Senior Executive Vice President, Citigroup / Solomon Smith Barney's Corporate Investment Bank (C); Michael C. Bodson, Managing Director, Morgan Stanley (MWD); Gary Bullock, Global Head of Logistics, Infrastructure, UBS Investment Bank (UBS); Stephen P. Casper, Managing Director and Chief Operating Officer, Fischer Francis Trees & Watts, Inc.; Jill M. Considine,Chairman, President & Chief Executive Officer, The Depository Trust & Clearing Corporation (DTCC);
Also, Paul F. Costello, President, Business Services Group, Wachovia Securities (WB); John W. Cummings, Senior Vice President & Head of Global Technology & Services, Merrill Lynch & Co. (MER); Donald F. Donahue, Chief Operating Officer, The Depository Trust & Clearing Corporation (DTCC); Norman Eaker, General Partner, Edward Jones; George Hrabovsky, President, Alliance Global Investors Service; Catherine R. Kinney, President and Co-Chief Operating Officer, New York Stock Exchange; Thomas J. McCrossan, Executive Vice President, State Street Corporation (STT); Eileen K. Murray, Managing Director, Credit Suisse First Boston (CSR); James P. Palermo, Vice Chairman, Mellon Financial Corporation (MEL); Thomas J. Perna, Senior Executive Vice President, Financial Companies Services Sector of The Bank of New York (BNY); Ronald Purpora, Chief Executive Officer, Garban LLC; Douglas Shulman, President, Regulatory Services and Operations, NASD; and Thompson M. Swayne, Executive Vice President, JPMorgan Chase (JPM).
In their comments to the SEC regarding Regulation SHO in January, the 50 state regulators, through their association, the North American Association of Securities Administrators (NASAA) issued what many consider to be a strong warning that if the DTC is not dealt with in the final regulations, state regulators such as New York State Attorney General Eliot Spitzer may step to the plate.
In what many considered to have been explosive comments, Ralph Lambiase, NASAA president and Director of the Connecticut Division of Securities, warned "NASAA urges the Commission to reconsider its stance regarding the role of the Depository Trust and Clearing Corporation (the DTC). As a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The ability of the overall proposed rule would be severely impared unless the Commission undertakes to implement such a prohibition."
As the Nanopierce lawsuit reveals, those were indeed strong words, meddling as it did, in a substantial revenues base for the DTCC.
Recently, leading market makers and brokers named in various lawsuits and other actions, including FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (GS), H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (HRB), Charles Schwab (SCH), Toronto-Dominion's (TD), TD Waterhouse Group and vFinance, Inc. (VFIN). A.G. Edwards, Inc. (AGE), Ameritrade Holding Corp. (AMTD), Deutsche Bank AG (DB), and ETrade Group, Inc. (ET), were forced to comply with new short-selling market regulations imposed by the NASD after the SEC had "sat on" the NASD request to plug material loopholes for almost 2-1/2 years.
"The new rules expand the scope of the affirmative determination requirements to include orders received from broker/dealers that are not members of NASD ("non-member broker/dealers").
The new rule is on the web at http://www.nasdr.com/2610_2004.asp#04-03
The rule itself, while welcomed by small companies and their shareholders in the U.S., nevertheless raised an outcry because the NASD's request to put it into effect had set on a shelf at the SEC since 2001.
The scandal has embroiled hundreds of companies and dozens of brokers and marketmakers, in a web of internaitional intrigue, manipulative short-selling and cross-border acctions and denials.
Comments on Regulation SHO ended January 5, and may be viewed at http://www.sec.gov/rules/proposed/s72303.shtml .
Some 122 companies, including 13 brokers, such as FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (GS), H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (HRB), Charles Schwab (SCH), Toronto-Dominion's (TD), TD Waterhouse Group and vFinance, Inc. (VFIN). A.G. Edwards, Inc. (AGE), Ameritrade Holding Corp. (AMTD), Deutsche Bank AG (DB), and ETrade Group, Inc. (ET), have been embroiled for over a year in a raging controversy
The remaining 109 companies among the 122 named to date have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
The complete list of those 108 companies include Advanced Viral Research Corp. (ADVR), AdZone Research, Inc. (ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (ATSC), Federal Agricultural Mortgage / Farmer Mac (AGM) Allied Capital (ALD), American Motorcycle (OTC: AMCYV), American International Industries (AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), ATSI Communications,Inc. (ATSC) Bluebook International (BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (BIFT), Biocurex (BOCX). Broadleaf Capital Partners, Inc. (BDLF), Chattem, Inc. (CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (COHIA), CyberDigital, Inc. (CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (DCEL), Eagle Tech Communications (EATC), Edgetech Services (EDGH);
Also, Endovasc Ltd. (EVSC), Enviro-Energy Corporation (ENGY), Environmental Products & Technologies (OTC: EPTC), Environmental Solutions Worldwide, Inc. (ESWW), EPIXTAR Corp. (EPXR), eResearchTechnologies, Inc. (ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (FRE), FreeStar Technologies (FSRCE), Front Porch Digital,
Inc. (FPDI), Geotec Thermal Generators, Inc. (GETC), Genesis Intermedia (GENI), GeneMax Corp. (GMXX), Global Explorations Inc (GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (HYPD), International Biochem (IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (IBCS), InternetStudios, Inc. (ISTO), ITIS Holdings (ITHH), Investco Corp. (IVCO), Lair Holdings (LAIR), Lifeline BioTechnologies Inc. (LBTT), Life Energy & Technology (LETH), MBIA (MBI);
Also, MegaMania Interactive (MNIA), MetaSource Group, Inc. (MTSR),Midastrade.com (MIDS), Make Your Move (MKMV), Medinah Minerals (MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (NPCT), Nutra Pharmaceutical (NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (NVGV), Orbit E-Commerce, Inc. (OECI), Pitts & Spitts (PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (PYST),Petrogen Corp. (PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (PDVN), PrimeHoldings.com, Inc. (PRIM), Phlo Corporation (PHLC), Resourcing Solutions (RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (SDNA);
Also, Sionix Corp. (SINX), Sonoran Energy (SNRN), Starmax Technologies (SMXIF), Storage Suites America (SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (SPRI), Technology Logistics (TLOS), Swiss Medica, Inc. (SWME), Ten Stix, Inc. (TNTI), Tidelands Oil (TIDE), Titan Construction (TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (VRA), Viragen International (VGNI), Vista Continental Corporation, (VICC), Viva International (VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (WIZD), WorldTradeShow.com (WTSW) and Y3K Secure Enterprise Software, Inc. (YTHK).
Earlier in 2003, the SEC fined Rhino Advisors, Inc., $1 million for its representation of Amro International in the financing and manipulation of Sedona Corp. Amro, also known as AMRO, was registered in Panama, a secretive offshore haven, but was not named in the SEC settlement. Another 60 public companies may have been manipulated by the fined Rhino Advisors and its indicted principals, or its funding apparatus, Amro.
These include:
All American Food Group Inc (AAFGQ), Amanda Co Inc (AMNA), Antra Holdings (RECD), Aquis Communications Group Inc (OTCBB: AQUIS), Avanir Pharmaceuticals (AVN), Bionutrics Inc (BNRX), Brilliant Digital Entertainment Inc (AMEX: BDE), Bravo! Foods International Corp. (OTCBB: BRVOE), Butler National Corp (BUTL),Calypte Biomedical Corp (CYPT), Chemtrak Inc/DE (CMTR), Clicknsettle Com Inc (CLIK), Corporate Vision Inc (OTC: CVIA), Crown Laboratories Inc/DE (CLWB), Dental Medical Diagnostic Systems Inc (DMDS), Detour Media Group Inc (DTRM),
Also, Digital Privacy Inc/DE (OTC: DGPV), Senior Services Inc (DISS), International Inc (DYNX), Endovasc Ltd Inc (EVSC), Esynch Corp/CA (OTCBB: ESYN), Focus Enhancements Inc (NASDAQ: FSCE), Frederick Brewing Co (FRBW), Greystone Digital Technology Inc (GSTN), Havana Republic Inc/FL (HVNR), Henley Healthcare Inc (HENL), Hollywood Media Corp (HOLL), Ibiz Technology Corp (IBZT), Diagnostic Systems Inc/FL (IMDS), Imaging Technologies (OTCBB: IMTO), Integrated Surgical Systems Inc (RDOC),
Also, Interferon Sciences Inc (IFSC), Interiors Inc (OTC: ITRNA), Laminaire Corp (THMZ), Medisys Technologies Inc (SCEP), Milestone Scientific Inc/NJ (MS), Nevada Manhattan Group Inc (NVMH), Innovations Inc (OTCBB: NTGE),Systems Group (OSYM), Pacific Systems Control Technology Inc (PFSY), Professional Transportation Group Ltd Inc (TRUC), Rnethealth Inc (RNTT),
Also, Sand Technology Inc (SNDT), Sedona Corp (SDNA), Silverado Foods Inc (SVFO), Stockgroup Information Systems (SWEB) Surgilight Inc (OTC: SRGL), Tasty Fries Inc (TFRY), Tech Laboratories Inc (TCHL), Teltran International Group Ltd (TLTG), Titan Motorcycle Co of America Inc (TMOTQ), Trans Energy Inc (TSRG), Motorcycle Co (UMCC), Universal Communication Systems Inc (OTCBB: UCSY), Medical Systems Inc (UMSI), Vianet Technologies Inc (VNTK),Viragen Inc (VRA), Webcatalyst Inc (WBCL), Worldwide Wireless Networks Inc (WWWNQ), and ZAP (ZAPZ).
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Just going to test a post to see if the board is working. Walk
Wise: I remember when you posted it on the old board and I started playing it back then. Boy was it cheap compared to now. I was always happy with a .10 to .20 return. I always buy 10k shares and that gives me a very nice profit on the in and out. I could have made more by holding longer sometimes, but I really can't complain with what I have taken off the table. It has been one of the best up and down movers I have seen in many years. You sure found a winner that just keeps going and going and going. Another good job from the Wise man. Best regards, Walk
Wise: Except for my HLSH holdings, I think I have made more money on FMDAY than anything else in the last 2 years trading in and out. The hardest problem I have had the last several months is guessing the lows to take a position. Good Luck and make that money. Walk
Cleared .26 on FMDAY and sold out with a nice profit. Now it will probably go up again tomorrow. The last time I did that it went up over $2.00. Good luck to those that are holding. Walk
Could this be a play for a double or more, or a bust?? Saw this posted on the yahoo board and I used to play this well over a year ago. Don't have the DD I had back then on this company. I do know it was a $5.00 stock in 2000 and $1.35 in 2001. Looks to me they have hit skid row by the pps at .001. Might be worth doing some DD due to a possible bounce in the pps. I know they have a ton of shares traded daily and rightfully so with so many OS shares of around 3.5 billion. Check it out and see what you think. Looks like a real gamble to me, but could be an easy double if volume were to hit today. This guy could be pumping this dog also. "Use caution" Walk
Defense Contractor @ only $0.001.???
by: buullzzeye (40/M/Dallas, TX)
THTHF ($0.001) reported strong earnings results this week. This might be a turnaround year for this company and an opportunity of a lifetime for us gamblers.
THTHF is an established defense sub-contractor having the Who's Who among multi-national defense contractors as its loyal customers. The following is a partial listing of THTHF clients:
Lockheed Martin
General Dynamics
General Electric
General Motors
Boeing
Cummins Engine
ESI Fiscal
Ford Motor Co.
Allison Transmission
Driltech
Copeland Corporation
Komatsu
GE Elano
ABB
Magna
THTHF chart looks really good for those who like technicals:
http://stockcharts.com/gallery?ththf
The following link show THTHF's recent contract wins:
http://finance.yahoo.com/q/h?s=THTHF.OB
Thinkpath Inc (THTHF.OB) reported strong earnings results this week for its most recent quarter. Revenues increased to $3.05 million from $2.49 million or 25% when compared to the same quarter last year. Gross margins increased from 29 to 33%.
THTHF's market cap is less than $2 million even though the O/S shares is very high at 3.5 billion. Annual revenues this year will range from $12 to $15 million.
Here is this week's earnings PR headline and link:
Thinkpath Announces Better than Expected Financial Results
Wednesday May 26, 6:30 am ET
TORONTO, May 26, 2004 (PRIMEZONE) -- Thinkpath Inc. (OTC BB:THTHF.OB - News) today announced positive financial results for the quarter ended March 31, 2004.
http://biz.yahoo.com/pz/040526/58220.html
Further information about the company may be found at www thinkpath com.
Joe: Afer reading your post on FMDAY I decided to roll my shares over at $1.23 giving me a .10 profit this morning. Better to be safe than sorry. I will take another position when things settle down. This stock used to be like clockwork, but has changed in the last several months and is harder to play than before. Thanks for posting the heads up. Walk
Good job Wise, like we tell each other if you can make a profit on a trade then take it. I just got home with the wife after a 200 mile ride on the Harley in the country and had lunch on the river. Nice day and I get back and FMDAY is still on the plus side. 1k each at 1.17, 1.16, 1.15 and 4 k at 1.10 for an average of 1.125 so I think I am in the pps range for a nice profit in the near future. This stock has only let me down two times and that is when it dropped further than expected and I had to wait several weeks to make a profit and the other time a very small loss. Am going to hold and see what the old girl does for the next 2 weeks. Have a good week end. Walk
FMDAY: What a wild swing of the PPS trading this morning. Let's hope it holds somewhere between $1.10 on up for the next run up in the near future. I have some more buys in, so I decided to go ride the Harley and enjoy myself today. BOL, Walk
Lowered my ladder rungs on Fmday to reflect the drop in PPS for today. Owned at $1.17 to $1.15 and now have some at $1.10. It's Fri and I knew I was taking some chance yesterday, but also felt Fmday will rise again and soon. If someone could always guess the exact lows, then they would not need to play this game very long. Walk
AZ2820: I would have fired them also. Real time means sec by sec trades, not delayed as much as your source was giving you. That quote was way off base timewise and at .09 off on a 10k buy is $900.00. Glad you didn't buy any at that price, because it put's you way behind the 8 ball from the start. JMO, Walk
Now $1.14 bid and ask at $1.16 so nothing much will happen AH in my opinion. Walk
AH: bid at $1.14 ask at $1.17. Walk
Wise: I just wanted to own it again and when it went down that much I decided to protect myself and ladder down on my buys. Tomorrow is FRI and you know what that can do and then next week end is a 3 day off, so it could go down even lower between now and then. I will just have to see how it reacts between now and that time. Walk
Closed at $1.15 Walk
FMDAY sold a bunch at $1.15 as I watched the trades go through. Walk
Bid is $1.14 and ask is $1.15 right now. Walk
I am talking about FMDAY. Laddered down, means I have 1 K buys all the way down to $1.05 from $1.17. I filled at $1.17 -1.16-1.15 so far. Walk
I am laddered down to $1.05 on buys, so anything I can get on the drops is a plus to me. Being tomorrow is FRI, then I may just get all of my buys filled the way the market is acting of late. Walk
Got filled and it just went up 2 pennies. I will have to see what tomorrow brings because that was too easy. Walk
Put my bid in on FMDAY at $1.17 and hope I get all filled. It may drop some more, but don't believe it will go down to $1.00. I could be wrong about that and time will tell. Walk
OT: Securesorces: Glad to see you having fun, doing a job that you seem to enjoy the majority of the time. You see things that most people only see on TV or read about, driving across the hwyways of the U.S. I have some friends that are truck drivers and they enjoy the job and travel also. While you were gone you didn't miss much as far as trading goes. It hasn't been easy for anyone trying to make the right guess about the market of late. I have put 30k miles on the Harley the last 18 months. I also enjoy seeing the many natural and beautiful areas that God created in this great nation of ours. Take care and keep on "TRUCKIN" safely. Walk
OT: Started moving some spec plays last week into a better cash position to be on the side of caution. There are some signs in the market of late that cause me some concerns as to a possible start of a meltdown of stocks to some degree. Nothing in black and white, but just a gut feeling and one that I am going to follow for the next 4-6 months. I will still play some spec plays on an in and out bases and on a smaller scale as to not get caught with my pants down on a bad play. I am just going to hold only what I feel will not drop much if the market does start to turn a little more bearish as time goes on. Besides, the summer blues of investing will start soon and it is time to slow down with the times. JMO, Walk
Krispy Kreme (KKD) getting hammered this morning. The low carb diet is a no no for these doughnuts. Down over $7.50. Walk
I am going to put NYIL on my watchlist for a short play if it looks like it will move north tomorrow. Walk
By the way I miss seeing my buddy Scrooge posting here. Hope he is alright. Walk
Linchuck: You are right about what to pick on a short time play to make money lately. I took a chance Monday and played a high risk play with Globle Crossing (GLBCE) and was luckly enough to get out yesterday with a $1.50 ps profit. It could even go higher today, but was not going to stay on board to find out. I didn't sleep good holding it Monday night so was not going to hold it overnight again. Too high risk to post something like that here for a play with scandle and lawsuits on their heels, but as you know I play some of those like I did HLSH when they hit the wire. Still have my HLSH and have been adding for a year now and will continue to do so up to $5.50 and then it is just a waiting game for me until it reaches $15 to $20 which I think will happen 10 to 18 months from now. Sure wish you had stayed with HLSH when we were posting back to each other last April-May 03, because it has been a fun ride north of .12-.25 to now. Now that I have money freed up I am keeping an eye on FMDAY once again and anything else I think I can make a buck on. Have fun and good luck my friend. Walk
Post 4554 is nothing but SPAM and needs to be removed. JMO, Walk
SCROOGE: You must report in soon or you will be reported as AWOL. I hope he is alright and just taking some time off. Walk
Linchuck: I got in PTSC yesterday a little cheaper and am going to see what it does from here. May take awhile to see good results if any, but don't think I can get hurt much at these prices anyway. Also picked up some FMDAY yesterday and making some on that one today. Good Luck and happy trading. Walk
I am putting PTSC on my watchlist for the near future potential of a possible increase in the PPS. They claim to have many companies that have infringed on their US patents. If found to be valid, could generate millions coming in from settlements from some major companies in the teck sector. Some of the major comapies listed are as follows ( Sony, Fujitsu, Nec, Matsushita ) and more. Currently the pps is at .1350. Never know when something like this could be judged valid in the eyes of our legal system. Walk
Scrooge, Wise and any others that may beware of this crook that was CEO of CMIH that some of us lost money on. Federal Grand Jury indicts Ross Allen Rojek for 8 counts of fraud, 3 counts of money laundering and is under 1.3mil bond being held in Sacaremento county jail. If convicted could get $250,000 fine and 20 years in the big house. What comes around goes around. Walk
There may be movement on ADVR today so keep it on your watchlist. Current pps is .13 and as always do your own DD. Walk
Wise: The other day I got out of FMDAY with a small loss due to the trend of it falling towards my entry point too quickly. I have been buying 10k shares as I always did and could have made a grand, but held too long and waited to see if it was going to move upward again. The risk factor is too strong buying that many shares at those prices if it were to drop too much too quick.I will try and get back in when I feel it bottomed again, but as we talked about before, it is going to be harder to guess where the bottom is now. I liked it better when we were buying at .40 and making .10 to.20 on a upward bounce. It has been a gold mine for a long time now and it might be time to find a new one to take it's place. Walk
Braxton: If you look closley it will say Wise-Investments and another e-mail address and has nothing to do with this Wise Investment board. I have had them e-mail me several times on hot stock tips and none of them ever panned out. It is a scam as far as I am concerned and they only pump stocks that they were paid with in shares. There are several companies that use the Wise Investment name, but only one honest Wise and that is here on this forum. Walk
Back in FMDAY at $1.85 and will see what happens. Walk
SECURE,WISE: There is no way I would have ever thought QBID would run like it did this fast. I just got home and read the board and saw that I was again one day too early on taking profits. @$@$%$^& is all I can say. If it didn't have a zillion shares then I wouldn't have worried as much, but when I had a tidy profit on the table then I decided to sell. What a run and who ever held I hope you make a killing. Best regards, Walk
Wise: I am keeping an eye on FMDAY and waiting for another entry point, but it is holding up very well. If we had held it for the last 12 months and bought at .08 = $2,000 for 25k shares, today it would be worth $52,000. Not too shabby "huh"? One just never knows which one of these little companies will climb up the hill and it becomes a mountain. We have both made some good money on this play flipping it many times the last 12 months, but sure would have been nice to have known it's future. Good Luck, Walk
SECURE: Hey buddy, hope all is well. I sold my QBID today also, because I think it is oversold and will come back down in the near future. Just a guess though. Take care and have a good one. Walk
Wise: Glad to see you back up and running. Great move on FMDAY, am glad to hear others making money and keeping it. I sold too soon, but still am happy with the profit. I also bought QBID due to the price a little over a week ago at .003 and will see how it does, because it does have a growth factor in it's sector. Still have my truckload of HLSH which I started buying at .12-.14 and have added many shares along the way for 12 months now, because I believe it will be the biggest one time gainer I ever had. It generates over 4 billion a year with over 1700 offices and still has some rocks in the road to clear before relisting. Once that happens and it comes off the pinks then KABOOM I am on my way for the biggest ride of my life. It is up to $4.85 now and I hope it keeps moving in the upward trend, but I know it will very each way until then. Good Luck and Best regards, Walk