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Russel kicks out abt 80Chinese companies
out its Index. This follows MCSI and vanguard kicking everything small china out of its index.
Its MARKET CAP related the lower they go the less representation they have. This is one main reason i'm contrarien bullish longterm.
Index reweighing at the bottom or at top can be extreme.
Its like 2008 financials were 40% of spy index at the top at the bottom i think around 9%.
The great news the chinese companies that survive and market moves higher the index will have to buy them again
im not kiddin-thats how it works.
Thats why my view that you need to get to july before anything bottoms in the secter-the last reweighting is next week.
Piper investigated the Cash balance, verification first.
This was DTT number one problem and the first thing piper verified.
How much cash at this point does CCME have in cash?
If 320million is verfied by Piper-the mkt cap today is 70million.
DTT is a joke
My view is buy big -
Wctbills is a patsy - he should be been banned from EvER posting -
I was surprised what I heard about him tonight
Ask him who he works for - ugh
Forensic audit - cash confirmation
Don't you think the first thing Piper did was check the cash confirmation and bank accounts ? That was DTT main point on it's allegation . I'm not accountant but somebody should research the process of this type of audit ? I will call my friends in the business . Piper been there for 40 days and they had to address the major question - cash and Bank balance . So after 40 days ccme states in the wsj that piper will clear ccme of all the major allegation of muddy waters are false - this is number one thing . If Piper had problems with this confirmation process they would have resigned if ccme did not cooperate . My question for accounting isn't this question already settled? I'm sure you will get some internal control problems ect .
For naysayers DTT wasn't going to sign off on the audit at any cost - they wanted a forensic audit because of the shorts and ccme did not want it . If ccme announced a forensic audit on the suggestion of DTT the stock would have got murdered anyways - then ccme and DTT fought for weeks and Jacky couldnt get them to sign off that's why DTT finally imploded at the end- not the beginning - and they resigned late .
Also, I'm sure like fuqi - ccme kept trying to delay their bank confirmation because I'm sure it was Lend out as collateral to his buddies at the Bank - Then we they got all money bank they hired Piper in which they KNEW that's what the first thing they would look at because of what DTT said.
I guess my point it's 40days ccme cash balance is there and it's what 280-300million . Your telling me after 40 days piper doesnt know if the cash is real - cmon
Ntes was a fraud , CFO , board resigned , NASDAQ delisting
My friend asked me if they are on comparisons in USA based Chinese companies and did any recover.
I traded ntes when it came out of it and it went parabolic on the upside to I believe over 100$ and split like 4-1 and it's worth 5 billion today .
But I know they had to restate numbers, CFO resigned - board members ect, delisting problem , lawsuits , I believe around 2001-2003 period - check the news on the Company website -
I did not play the disaster going on but traded on the way up and shorts fought saying it was fraud, CFO resigned , ect as it went parabolic then split like 4-1 and it's one of the most respected Chinese companies now .
It's emerging market - expect problems but coming out of it market can forget the pain and upside can be huge . The market will demand more transparency coming out this disaster .
Fuqi-ccme I like of the complete disasters
I'm watching PUDA delisted because of the buyout at 12$-It will be interesting how it opens.
I own FSIN at 5.65$ on 11.50 buyout-new auditor KPMG had minor problems but signed off.-
I own jrjc big- most transparent company-IDG-usa based venture capital owns 20% and founded the company-IDT prob best USA based China investor- CFO, all management been there day one. 5$ net cash -no debt- Company doing okay , not grt but shows its real.
hit list- hrbn,fsin,cast,scei,cmed,tstc,onp,cisg,atv,cbpo,chbt,
Nasdaq going to delist all of them
Cbeh- today- nasdaq basicly said your delisted if you come back with the suitable information we will put you back on the nasdaq.
i think we put in a bottom this month again:
the audit game is just about over: If your not delisted this month you made it and you can move on. Their is zero doubt that the companies that make it will have more transparency-
Right now Mr market is discounting everything to oblivion.
Now we need some good news coming from secter to slowly recovery.
Double down
One strategy for longs might want to think of is double down in a regular account for tax purpososes . If you own say 5,000 shares at 12$- you buy 5,000 shares at 2$ and you wait 31days and sell the higher 5k and book the 60,000 loss but still have a position. You new cost basis is 2$- It helps with taxes in the short term.
Wctbills you saw Jacky in hong kong and that's the only answer you got out of him ?
Cmon - give me a break ?
Grt-thx
The only thing I wish the company would release is a guideline when Piper would be done? People been saying they didnt start-ect. Anybody who has contact with the company should ask them to put a guideline when they think it will be done and thank investors for their patience. ie- we expect the investigation to close sometime in the second quarter- we appreciate your patience -if anything changes we will let you know. A simply statement like that would be great.
Lets get some research-wheres WCTBILLS
Somebody in China call the CCME spokesman(name's in the paper)
and ask them when the investigation will be over- ballpark?
Somebody call Piper and ask the same question
Somebody call Cheng
Cmon theirs money to made at 2$
A spokesman for MediaExpress told The Wall Street Journal an independent investigation currently underway at the company would prove that key accusations by Muddy Waters are wrong.
Wall Street Journal
Thats the easiest tell: its the number one paper in the world-finance
CCME lawyers-Piper,ect briefed their spokesman on what he could say-its in writing.
Piper been their for over month
CCME comment-stating that once the investigation is COMPLETE
they would prove all MW major points FALSE. i dont know how clearer than you get than that. The stock is 2$ not 20$ if the all issues are somewhat minor its a homerun. When the Piper investigation is simply released its grt news-
Boilerplate filing
Their is nothing new here:
Again, my view all the problems is with the cash balance transfer just like fuqi- They used the money as collateral for friends at Banks Ect-
Staar verse LIN brothers
Why didnt Staar go after lin Brothers? They bought the stock from them in a private transaction and Lin brothers have money and a publicly held company. Doesnt make sense
Secter trades better
If the secter ever traded better I think ccme would move back to 3-4$ range with the news out there-WSJ-Lawsuit-PIPER new division.
This secter has been a complete disaster and still has not BOTTOMED
the good news is MR market is discounting secter as complete fraud
Supply just got dramatically smaller
No new supply is coming
Their have been a ton of buybacks
Insider buying.
their have been 3 legit deals taking about 500million supply off the market. Their are about 1bill of deals pending- we need more deals to clean up more supply.
Then we need some great news to move fear mongering to greed.
CCME led the group into the disaster maybe
CCME leads the group out- Its a process
CCME denied fraud one week ago in the wall street journal.
It was in writing from number one paper in the world.
They stated PIPER would clear their name against all the major allegation from Muddy- ITS RIGHT THERE.
Their will be minor problems but nothing major.
CCME denied fraud one week ago in the wall street journal.
It was in writing from number one paper in the world.
They stated PIPER would clear their name against all the major allegation from Muddy- ITS RIGHT THERE.
Their will be minor problems but nothing major.
CCME denied fraud one week ago in the wall street journal.
It was in writing from number one paper in the world.
They stated PIPER would clear their name against all the major allegation from Muddy- ITS RIGHT THERE.
Their will be minor problems but nothing major.
People care about stock price
nothing else- if the stock was up a buck today investors would percieve that its great news. At 20$ they percieved the company was great going to 30$. The simple fact the news is right in front of you. As i"ve said before it will take a long time for confidence to come back in these names and expect no v shape recovery. People will deny it all the way up and fight it until it hits 7-10$ then they will believe it.
Yes- remember 2-3 months is not a longtime when your in crisis mode compared to stock market time which is immediate . Nobody knows but they probably didn't think DDT would resign and they stated they just needed more time then you get panic time at the company . People forget this is emerging market not a mature market with seasoned management . This guys had no clue what to do or how to act .
In which coincidentally Piper just started a major division to help comply with this problem .
Piper probably like this is decent legit company but they have zero clue on how act as a publicly held company .
Also, I'm sure nobody thought these relentless hit pieces would go unregulated in the market and have such effect .
Piper news was huge - common sense.
So Piper working on the most high profile case probably in the space . They have been working for what a month of the job . The lead investigator has a conference call with the partners" hey guys let's form a division because ccme is a disaster and will blow up and no Chinese company will hire us !". Cmon .
More likely he calls his partners - this company is basicly 100% clean but has no clue to run a publicly company in the USA markets - they are getting attacked like they can't believe and have no guidance to defend themselves because of cultural - language , legal differences . Let's set up a division because we can make a fortune defending these companies . Most of all these Chinese firms might need a forensic audit like ccme to verfify their business . We can tell them once we do the forensic audit we will tell all bloggers we will sue them in court if you make up one thing . Remember , the auditor of these companies do not say a word even if it's a clean audit. Every Company in this secter might need to hire us on top of audit and then we can defend them with our reputation .
Partners. We can use ccme as the lead case in how it works and get a ton of referrals . Let's set up division asap and spread the word in the industry . We are almost done the investigation and then we are coming out guns blazing . Ccme will come out clean and they have some huge news -ie- clean investigation , settlement of staar lawsuit , taken private with Bain capital at 10$. This news will get us a ton of new business .
Piper is greedy like everybody - they don't waste their time if ccme blows up because then why would any Chinese firms hire them in the future ? I know nothing but a lot of it's common sense and human nature.
Andrew and the board
If you don't have a position in the stock why should you post .
Andrew - you seem like a good guy but please move on and enjoy your life.
Are you going to haunt this board forever as you did when it was 15$ and you were wrong .
if you disagree with the bulls you should short the stock because your downside is zero which is great for your return . To have no position and to whine all day is pathetic.
The news is great and I think the stock going back to 7-10$.
Either buy if you believe it !
Short it of you don't !
If you lost a ton of money go see psychiatrist but the stock reset at 2$. Trust me I've been dead wrong before . I own rmbs at 20$ and thought the court case would take it to 50$, I'm still think I might be right but tell friends i have no credibility at this point to give opinion - it happens . I've been dead right too with historically basis on stocks that have got kill and made a fortune In which i've gave reference .When i' m dead wrong i just shut up because i have no credibility - it happens
If your going to haunt this board to protect investors - stocks down 90% already so no thanks .
Move on and enjoy your life - you have no position in the stock .
Buy it of you believe
Short if you don't
Hold it if your not sure
Sell it then bitch all day is a waste of time .
Stocks 2$ not 20$ boys
It's discounted already to oblivion - today 4 pm news was huge again . Will add more next week -
In response to reports by Muddy Waters and two other short sellers about China MediaExpress Holdings Inc., its chief executive in February issued a statement “categorically” denying what he called “reckless and baseless attacks.” A spokesman for MediaExpress told The Wall Street Journal an independent investigation currently underway at the company would prove that key accusations by Muddy Waters are wrong.
ZERO,ZERO,ZERO
Everybody NEW buying it has stated numerous times thats the risk.
We are not pumping anything.
How many times did the pumpers at 12-15$ say zero? Zero.
Yes, the guys who like it at 15$ I dont care about their Opinion.
Why would I?
I like the the risk here. If you buy at 1.50$ and it goes to 4-8$ its a great return. Thats what investing all about. good luck
will not post for awhile.
I agree, could go to zero- but i know my risks at 2$.
You could have bought Gm at 2$= zero.
you could bought ford at 2$= 14-16$.
its the market.
My point to you: you already sold for a big loss so who cares about your opinion.ha-CMON Also, just because you sold for a loss your going to root against the company and new owners to make you feel better. The company reset its price at 2$ and we start over.
I know my risks at 2$ which is better than 12$ and it could be fraud but my point a lot stocks do recover.
I dont expect a big move anytime soon-imo
Historically- you dont get v shaped moves in disaster. CCme could be different obvious with news related but it will still trade at a discount until secter gets better.
Everything is related to the secter these days.
Its like Bank Of America or any disaster
At 2$ its going to zero- its insolvent. David Teppin is
the ONLY big buyer- he is very nervous but buys in size.
It finally stabilizes ard 2-3 $ for 4-5 months. Shorts bash BAC every single day -its a scam- News is very rough in the market.
6-7 months later news starts trickling slowly thats its getting better. Shorts start covering on Bac as it moves to 5-7$ ranges. News continues to get better but big money is underweight the group big and you have a major move to 12$. They do multi-billion dollar secondary at 12$ but sentiment shifts big that investors are missing out and 18 months later BAC tops out at 18$. You could say the same think about BP-RIG- Russian currency debacle- India internet fraud- saving and loans in 1991, asia-semi currency blowup of 2008-ect- It can move up but people will be in complete denial the first leg up -when sentiment finally switches over-time then you get a huge move
The major shift
what people forget is the market is self correcting mechanism
Remember, the value of this group has already dramatically been reduced. Their has no new deals or reverse mergers.
ccme has market cap of 50million- It will take dramatically less buying power to move the stock then when it was 15$.-common sense
Also, their are about 2 billion deals out pending. Need these deals to close to reduce even more supply. i also expect more deals in the space.
2, Their is ZERO doubt IF you survive their will dramatically more transparency in the secter- it is already happening.
So you have dramatically reduced market size, seen a ton of supply looking to move out, you have big money underweight, you will get better transparency- index shorts continue to build, group trades at 50-75% discount. What happens when the shift happens.
Secter trades better ccme will go up
Their has been MASSIVE idex capitualation in the group
massive volume with -way oversold reading.
Just check out cast,fsin,hrbn, chbt,brn, deer, ect
just a complete disasters.
ccme opened at 4.50$ which i think was the real price but you have seen EVERY chinese companies lose 20-50% this month.
I think when the secter just trades better CCME will move back to 3-4$ range-
Wctbills says great things but letting the stock price dictate his emotions . How many times has that happened .
If by by may 21 if piper has not resigned its grt news .
Talked to cheng who says he's confident that piper will clear the company .
Cheng text he is sure the stock will recover
Today paper saying they will submit piper report to the SEC
They believe piper will validate it's business
They almost had ipo but the financial disaster 2008 prevented it - credit suise was the banker - at least they planned too-
Today wsj article validates piper is still on the job .
Been buying here: I know it goes higher because liquidity is tight because of the rest of market and don't know what to sell? It figures - everything trades together and you never have enough cash to build big positions at the bottom . I hoping ccme stays under 2$for awhile so can really increase my position .
Market was dead wrong at 15-23$
Market could be dead wrong at 2$
It's not zero sum game- their are always winners and losers .
The market has been reset at 2$range - let it begin -trust me I have got killed before so feel bad but mr market doesn't care - it just moves forward .
You make money on the future not the past . Stock prices in the short term are voting machines based on emotions. The sentiment is so bad in the secter it doesn't even matter . Don't let stock prices trick you -
However - the market will figure it out
MediaExpress's spokesman said the company does business with multiple units of Shanghai Ba-Shi, and that the results of the internal investigation being conducted by DLA Piper will validate its previous claims.
Todays news was HUGE
The Wall Street Journal reported last week that the SEC also is investigating some of the Chinese companies' U.S. auditors, too, and that the inquiry is expected to lead to enforcement cases.
A MediaExpress spokesman said the SEC had contacted its audit committee and lawyers. He wouldn't say when. He said the company plans to report the results of its internal investigation to the agency. The SEC declined to comment.
This is the first statement that CCME told the number one paper they deny all claims and they PLANs to report to the agency-SEC
that doesnt sound like going dark
HUGE news
Hrbn looks good
with todays news of funding to go private at 24$- this was a guaranteed short- You need better news on the secter-you need more deals like CFSG to close to reduce suplly in the secter.
you need shorts to get little nervous-
you need longs to believe
Panic buying
They have kinda walked it up in a ORDERLY way with okay volume
It will be interesting if you get panic buying because this is the pink sheets where the market makers love to front run orders
Secter is a disaster last 5-15 days
so its buying for good news
If the secter was up big it would force short covering in it and new speculative buys
No other small china stock is doing one things so there is zero reason for ccme to be up unless somebody THINKS its news related.
Who knows but its not secter related.
Imagine if we had any real volume
Up 30% on only abt 1mill for 2$ stock is nothing.
WCTBILL panic bottom
nice sale-put that in your book.
Blocks 15 minutes of fame is over
He is a completemoron and a patsy- Look at his history
The guys behind him are the smart hedge funds- He is the patsy