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enterain the possibility that there are warrants or options @ $1 out there someplace and everytime they become 'in the money' they get converted or exercised and sold into the market.
Hypothetical of course, but it would explain the fact that there seems to be tremendous gravity towards that $1 mark on a recurring basis.
Robert
50.000 .ECADJ 3.100
bid is at 3 bucks on them and warm weather is keeping natural gas from moving up. All temporary i believe.
Robert
I seen his dog, hes pretty nice. Also from what i can make out in the audit, revenue looks like it may be 6.
"Gugni spent a few years as a jeweler after he graduated from art school, but switched to managing a bar because he got bored sitting behind a desk all day."
What kind of desk would an art major sit behind? or a jeweler for that matter. Maybe the wrong side of the desk at the unemployment line. He best stick to his career as a bartender.
Perhaps we can strike a deal with the hard rock or the viper room, with every $5 'Matini' you order you get a share and a warrant.
Robert
perhaps just to get you rowled up? It is kinda fun to watch. I sure hope your dog doesn't eat the dividend too, he's been crapping audits for over a year now.
;)
Robert
geez happy
did you get out for christmas break already? You've posted more in one day then you have in the past 2 years. Whats got a bee in your bonnet all of a sudden?
Robert
if you would like to sign up to receive the free copy of the newsletter, here is my link to it. It arrives every sunday night with views towards what to expect in the coming week. It is interesting reading.
http://coldfusion.affiliateshop.com/AIDLink.cfm?AID=062479
Robert
This is the current free issue of the newsletter. I will post the free version only as well as my trades as I make them.
Sunday December 18, 2005
Greetings Market Raiders, Profit Takers and Money Makers,
This past week proved to be a volatile one as the markets shot higher and then finished lower—the good news is…
THE PROFIT EXIT ON OUR CHESAPEAKE ENERGY CALLS WAS HIT FOR A SUPER SWEET SEVENTEEN DAY ONE-HUNDRED-TWENTY-FIVE PERCENT PROFIT!
Natural Gas rallied hard at the beginning of the week reaching an all time high blasting Chesapeake over our 34.00 exit price on Thursday. Since then natural gas—and natural gas stocks—have plunged lower underlining the wisdom of pre-set automatic exit points to capture profits.
The good news is the rally in natural gas is far from over so all this pullback will do is set us up for even more profits in this sector in the future.
Between the Fed rate hike this past week, volatile energy prices and the traditional end of the year institutional positioning there is plenty to drive these markets---to find out where let’s take a good look at
WHICH WAY THIS MARKET IS HEADED
Friday was a quadruple witching day—a time when four different options contracts expire at the same time -- stock index futures, stock index options, stock options and single stock futures. Those contracts expire simultaneously only four times a year and create higher than usual volume and volatility—in this case finishing the week in a down direction.
To get a better view of this past week’s action let’s take a look at the SP-500
As you can see the SPX broke above resistance during the third week in November capping a powerful run higher from the October lows. Since then the index has been moving in a sideways to upward direction in the channel you see above. Based on the historical price action in the last two weeks of the year AND economic fundamentals that are encouraging traders we could easily see a year end rally taking the SPX above this horizontal channel for a strong year end finish.
Now let’s take a look at the Nasdaq.
The Nasdaq is similar to the SPX in that it has been resting in a sideways price channel since the big move higher off of the October lows leveled out in late November. This is positive for stocks and indices to rest after a big move and often leads to higher prices in time.
The big factors driving the markets right now are still interest rates, energy and projected corporate earnings.
Yields on interest rate futures are showing that traders believe that there is a 90% chance of a 25-basis-point rate hike to 4.5% at the Fed’s next meeting on Jan. 31. However the chances for an increase beyond that time period have fallen substantially and the anticipation of no more rate increases after January is encouraging traders.
The markets may be in for a surprise however--according to the Labor Department’s Consumer Price Index report on Thursday core prices rose 0.2% for the second straight month. This upward price trend is keeping the pressure on the Fed to raise interest rates in coming months to keep a lid on inflation.
What saved the CPI this past month is energy prices which fell a record 8% in November, reversing a spectacular 12% gain in September. Still, energy prices are up 18.3% in the past 12 months putting pressure on inflation and the economy in general.
Crude-oil futures dropped almost $2-a-barrel in value by the close Friday and natural-gas futures lost nearly 5% for the week, but don’t expect these prices to stay down for long. The cold blast blowing down from the arctic shows no signs of letting up in the eastern U.S, as the National Weather Service's (NWS) latest 6-10 day outlook calls for continued below normal conditions in the eastern two-thirds of the country where the majority of consumption takes place.
So the two big trends right now are the anticipation of the Fed backing off on rate increases and what looks to be a short term lull in energy prices. The question is…
HOW DO WE MAKE MONEY ON IT?
Our first trade is on a company in one of the sweetest spots of the energy services sector—drilling contracting. This company is one of the most successful in the world at a time when day rates are so high it’s written in their contracts that they need to be adjusted every three months.
You can’t just ‘get into this business’, you have to have the drilling rigs already in place because they take years and millions of dollars to build. So the companies with drill rigs available are in super demand with a back log of orders over a year long—no wonder day rates (and profits) are sky rocketing!
The great thing about this stock is it pulled back on Friday and with luck may even drop further on Monday for a very attractive entry. Once you see how much money is on the call side of this stock you’ll see we aren’t the only ones that think this driller will be going through the roof!
Our next play is bearish and it’s on a company that just broke below two month support on huge volume. This break-down comes from a VERY high price level so this stock really has room to drop. With institutions in a hurry to get rid of their losers before the end of the year the selling on this high flier could really accelerate—and we’ll be along for the ride with some well placed puts!
We’ve got two great new plays lined up ready to go so let’s get to it…
testes
50.000 .ECADJ 3.600
seems like short term enough for my tastes, I'll wait till about noon to see if oil is still moving down and then decide whether to buy them or wait.
Robert
I will put my money where my mouth is on this one on monday. I finally get paid from a piece of real estate i sold and so i can finally fund some serious trades instead of the little ones i have been watching lately.
I'm not sure how far out I will buy calls, but i will try to maximize return and still play short term based on anticipated news regarding increased acres.
Robert
Matt you might want to look at Encana(ECA) for a quick play. They are currently the largest natural gas producer in north america and rumour i heard today out of Calgary is that they secured some big acres in this mornings governmet land sale.
I'd suggest the best way to play it is leveraged through calls. Truly one of the great long term potential stocks and seems to present great trading opportunities lately.
Robert
Rumour is Encana scored some huge acres in this mornings land auction.
Robert
hello guys
just discovered this one as i was checking out some of the local gas explorers. I have been all over the Todd creek area camping my entire life and live nearby both the Todd creek property and the hillspring property.
I have to drive down near to hillspring and pick up an ebay purchase on monday. I'm going to try to find a rig map for area before i go.
Robert
BRIAN FERGUSON WILL REPLACE JOHN WATSON AT ENCANA CORPORATION (12/15/05)
John Watson, Executive Vice-President and Chief Financial Officer of EnCana Corporation of Calgary, Alberta, plans to step down on February 28, 2006, following completion of the 2005 year-end financial statements. Watson will remain with the company as Advisor to the Chief Financial Officer until year-end 2006.
The company also announces the appointment of Brian Ferguson CA, as Executive Vice-President and Chief Financial Officer effective March 1, 2006.
Also, on wallst.net there is a good interview with the outgoing CEO where he talks about how Encana has the largest natural gas reserves in northamerica and also the largest tarsands reserves, something which hasnt been recognized by the market yet as they are only now coming under development as new technology improves extraction.
This is a stock that one should hold into your retirement.
Yup market cap of about 30 million seems small considering they received that 10 million payment. I would expect at some point in the future additional revenue is inevitable from similar settlements. Speculation over the resigning accountants may have created a good buying opportunity should there be nothing more sinister to surface regarding the situation.
Robert
welcome littlejohn,
i rarely post here and am not currently a shareholder, although i do believe in the longterm prospects and potential of this company.
I believe as per the last filing there are about 370 million shares fully diluted and recent earnings of a cent a share. I think current confusion over whether the revenue is a one time thing or if it recurring royalties is responsible for the current share price. A bit more transparancy on the revenue issue would either confirm the value is accurately reflect in the current shareprice, or else demonstrate that it is undervalued based upon future confirmed revenue streams.
Robert
Ever since the 8k appeared revealing the resignation of the company accountants, the stock has tanked 20%+
Here's the text from the 8k:
Item 4.01 Changes in Registrant's Certifying Accountant.
On November 21, 2005, Patriot Scientific Corporation (the "Company") received
notice from Mayer Hoffman McCann P.C. ("Mayer Hoffman"), that they resigned
effective November 21, 2005, as the Company's independent registered accounting
firm. Mayer Hoffman's reports on the consolidated financial statements of the
Company and its subsidiaries for the two most recent fiscal years ended May 31,
2005, did not contain any adverse opinion or disclaimer of opinion, nor were
they qualified or modified as to uncertainty, audit scope, or accounting
principles, except only that their report for the fiscal year ending May 31,
2004 was modified as to an uncertainty regarding the Company's ability to
continue as a going concern.
On November 21, 2005, the Executive Committee of the Board of Directors of the
Company, upon the recommendation of its Audit Committee, elected to engage
Corbin & Company to serve as the Company's independent registered accounting
firm.
On November 23, 2005, the Company was informed that it had been accepted as a
client of Corbin & Company.
During the Company's two most recent fiscal years ended May 31, 2005 and the
subsequent interim period through November 23, 2005, there were no disagreements
between the Company and Mayer Hoffman on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to Mayer Hoffman's satisfaction, would have
caused them to make reference to the subject matter of the disagreement in their
reports on the financial statements for such years.
The Company has authorized Mayer Hoffman to respond fully to the inquiries of
Corbin & Company concerning the subject matter of the reportable event and has
provided Mayer Hoffman with a copy of the foregoing disclosures. Attached as
Exhibit 16 is a copy of Mayer Hoffman's letter, dated November 28, 2005, stating
its agreement with the statements related to it.
During the Company's two most recent fiscal years ended May 31, 2005, and the
subsequent interim period through November 23, 2005, the Company did not consult
Corbin & Company with respect to the application of accounting principles to a
specific transaction, either completed or contemplated, or the type of audit
opinion that might be rendered on the Company's consolidated financial
statements, or any other matters of reportable events as set forth in Items
304(a)(2)(i) and (ii) of Regulation S-B.
jan/06 $35 calls which were $11.50 are now at $16.20
Apr/06 $30 calls which were $16.95 are now at $22.50
only about a 30 percent return ffs. He said he still figured theres more upside, but it appears i missed the boat buying this one as my capital is all tied up for another 4 days.
Robert
hey george,
i just quickly reviewed the trade logs for the last few sessions and it would appear that no loarge blocks have been changing hands. Lots of small chunks (5k shares or less) seem to make up the entire volume.
I would expect that if the shares were flowing directly from treasury there would be blocks of 10k-25k being sold, but with Veltex anything is still possible.
Good luck to those who are trading this latest opportunity.
Robert
I agree, I see this as a step backwards. Rayment as CEO offered some credibility to a company in an industry that is ripe with sCKaMXs. The excuse that the 'corporate duties' require any amount of time at all is total BS.
I still believe that the claims may contain diamonds, however I am beginning to doubt that anyone will every find out for sure. I wonder how many traunches of financing money are still coming and how happy the financier is with the change? BRRRRRRRRRRR, put on your woolies its going to be a long cold winter for this one now i believe.
Robert
well 40% up in a day has to make a few shareholders happy and get rid of the few who have been waiting for opportunity to sell.
Realistically, if he and other insiders have the majority of shares inhand, a dividend is also a nice way of getting paid some christmas cash and for them to persoanlly access some of the companies revenue through legitimate means.
Robert
Dividend? that idea sounds kinda familiar?
http://www.investorshub.com/boards/read_msg.asp?message_id=7711202
"ps. how's this for pleasing their investors. Stop acquisitions and spending for 12 months and declare a dividened in the amount of the earnings for that year. current estimate $1/share. That would help fix the share price and investor confidence." - 9/12/05
Not a badly written little sheet. John Daly is spelled wrong in the middle of it, but other than that it seems not so bad.
Robert
RE: jail idea
to avoid filling the jailhouse will life sentence inmates, you should have a 30 day death sentence. Once sent to jail an inmate has 30 days to plead their case, make restitution, set up paypal, whatever the case may be.
No reasonable defense within 30 days, they get the lethal injection.
Robert
Yes churak your correct,
about a year ago during the acquisition they did the reverse and then issued the 15million shares for 300k cash, since that time they also paid Wall st.net a million restricted shares i believe. Other transactions appear almost non-existant (3k shares for cash, 125k shares for services too i believe)
As of sept 30 they had about 18.7 million o/s, but they also had no cash on hand and their entire 1.5 million dollar bankroll tied up in container contracts with average length of 45 days. Hopefully, they can wait for the notes to mature.
I agree, about 4-5 million unaccounted for shares, probably about half a million of them still held in small oddlots by those 172 people who were in before the RS, and about 4 million public.
If they can turn their first million into 2, then 2 into 4, then 4 into 8, etc then they got something going on. With their contracts they should be able to achieve that until they reach a critical mass level and the number of financing opportunities levels off.
Robert
I agree most stocks who reverse split suffer further decline in share price post-reverse, however I believe that is because most of them are utilizing the reverse split as a last resort as part of a failed business plan. Very much like individuals who file for bankrupcy, in that if done correctly and strategically it can actually be part of a financial plan.
Reverse splits themselves are not by nature bad things. They are merely methods of adjusting share capital structure the same as a forward split. It is the fact that most CEO's and board members of publicly traded companies have absolutely no experience in facilitating growth and a positve financial plan through the adjustment of share structure. They usually wait until it is too late for them to do anything else. Hence, in this case there is unlikely to be any change.
Does that make a bit of sense?
Robert
yes, I have a friend who does a similar sort of small business (short term secrued loans and high rates plus application fees) and he thinks it is basically a legalized version of loan sharking.
From the small amount of dd i managed to get done, it does appear that they were selling shares out of the treasury in the past to generate money to lend and finance operations, so hopefully that has stopped and they now have enough cash on hand to refrain from diluting themselves. The lure of trading shares for capital is always a small companies demon. Definitely one i'm going to keep on my watch list though.
Robert
Wow you really are uninformed
http://www.wbcc.fsnet.co.uk/mad-1a04.jpg
1 Malagasy Ariary (MGF) = 0.0001105 US Dollar (USD)
or to translate it into something you understand, each share is worth 2 shares of Qbid.
Robert
looks like your a day late. Thats a pretty quick double.
Robert
Patriot will be presenting to both buy-side and sell-side analysts, as well as portfolio managers, on Wednesday, November 30th at 10:20 a.m. A live and retrievable webcast of Patriot's presentation can be accessed via www.analyst-conference.com.
Could make for a good trading opportunity? who knows.
Robert
Once again a new historic low with this trade today
0.001 2000000 12:29:51
And then somebody came and buoyed it back up with a 3million share purchase.
In all seriousness, if i was Barry i would be doing a 2000:1 reverse before i would be releasing any results. That would facilitate a higher share price if the results are good, but also allow them to sell more paper if the results were no so good. Kinda an 'insurance policy' for Delta if they were to reverse before results came out, especially if it was done while the markets were on holidays or preoccupied. Like maybe chrismas break? It could possibly suck for shareholders and the financiers, but may be in Delta's best interests.
Just a thought to encourage some discussion on this crappy cold day.
Robert
Currently at 16 cents.
Here's a link to wallst.net who has a promo for the company:
http://wallst.net/superstock/SFNL/sfnl.html
Robert
A friend of mine who is a gas trader has suggested that encana calls are a tremendous opportunity right now. I've been studying options for a long time but never did any serious investing in them.
I'm contemplating buying the Jan/6 $35 calls for $11.50 each or else the Apr/06 $30 calls for $16.95
I'm expecting a $10 move in encana in the next 2 months which would translate into a pretty sweet return on either of those calls.
Robert
I believe today was a new historic low for the stock price, at least since i have been watching it.
Happy Thanksgiving to those in the US, I'll be drinking and watching Denver put up 50 points on Dallas tomorrow.
Robert
Is it true that a stock has to be a scam to occupy the number one spot, or has that just been a coincidence for the past 4 years, lol.
I never really thought that buying a few thousand DVD's was a business plan, but apparantly what do i know, lol.
Robert
Posting activity on this stock has sure disappeared lately. It seems that many who held in June have taken their profits/losses and moved on?
I'm not a shareholer, but was fascinated by the backstory and the potential longterm prospects. Although I'm not adverse to trading a run based on the upcoming analyst forum presentation.
Robert
Patriot Scientific To Be Featured at Wall Street Analyst Forum
Patriot Scientific Corporation (OTC Bulletin Board: PTSC.OB) a high-tech intellectual properties company that specializes in developing high-performance ultra-low power microprocessor technology, will be making one of the featured semiconductor presentations at the 16th annual Wall Street Analyst Forum, according to Patriot Chairman and CEO, David Pohl. Patriot will be presenting to both buy-side and sell-side analysts, as well as portfolio managers, on Wednesday, November 30 at 10:20 a.m. A live and retrievable webcast of Patriot's presentation can be accessed via www.analyst-conference.com.
"One of our key goals in presenting to the Wall Street Analyst Forum is based on the dramatic changes Patriot has undergone this year," Pohl explained. "These changes include:
-- Patriot's first-ever profitable quarter (Q4 2005)
-- Patriot's licensing of it's patented core microprocessor technology to the two largest microprocessor manufacturers in the world
-- The creation of a licensing joint venture that bids fair to strike favorable deals with the world's major OEM microprocessor technology users
-- The influx - from licensing - of more than $13 million in revenue in one quarter (Q1 2006)
-- A complete board-mandated transition of the C-Level executives, heralding an entirely new - and so far, dramatically successful strategy
-- Remarkably successful benchmarking of our latest patented technological breakthrough - Inflame(TM) - which will revolutionize low-power hand-held array microprocessor technology
"The centerpiece of our presentation will be a discussion of our new corporate strategy - one that has driven such dramatic success in 2005 - setting the stage for an even more successful year in 2006. While some of the elements of this strategy remain confidential, we will be reviewing our plans to reinvest our licensing revenue in new, compatible technologies that provide integration and synergy with our existing breakthrough technology portfolio."
The Wall Street Analyst's Forum has been sponsoring analyst conferences in New York, Boston and London since 1988. These 15 previous conferences have included 2,500 different NYSE/NASDAQ/AMEX company presentations, attended by more 15,000 different analysts and portfolio managers. Typically, this event is covered by the Wall Street Journal, Barron's, CNBC, Bloomberg and Fox News. The presentation - the entire conference - will be held at The Roosevelt Hotel on Madison Ave and 45th in New York City. A live and retrievable webcast of Patriot's presentation can be accessed via www.analyst-conference.com.
About Patriot Scientific
Patriot Scientific (OTC Bulletin Board: PTSC.OB) has emerged as an effective and dynamic intellectual property company, developing and marketing innovative and proprietary semiconductor technologies. The company's portfolio of proprietary designs encompasses what is believed to be fundamental ultra-low-power array microprocessor technology, as well as pending patents designed to protect Patriot's proprietary technology and architecture. Ignite(TM) and Inflame(TM) are registered marks of Patriot Scientific Corporation.
Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
For Patriot Scientific, San Diego
Media Relations
Attention Group
Daryl Toor, 770-777-9489
dtoor@attentiongroup.com
or
Investor Relations
Hawk Associates
Frank Hawkins/Julie Marshall, 305-451-1888
info@hawkassociates.com
Source: Business Wire (November 21, 2005 - 12:00 PM EST)