Stick to what you know. You'll be glad you did.
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Considering the dividend will net us around $.10..maybe $.15 (which won't do a damn thing to the short position), and the forensic audit could net us between $20-40 per share...I wouldn't mind the latter..
Could you please state your position in CCME. Your one-line annoying posts don't seem to say anything. It's like you have an inside joke going with yourself.
Thanks for clarifying that.. As you can tell, people are hanging on to every negative that they can find, and dismissing anything positive pretty quickly. Obviously, if you thought there was anything material to worry about, you wouldn't hedge, but rather sell and move on, or even go short. Instead of seeing that, people would rather say "Oh my God, he's hedged!"... This is why the damn thing keeps sliding..almost no one long the stock is comfortable holding it, and those that are long the stock are panic selling every time Andrew Left farts out loud..
The initial reaction for those that were looking for a short trade would immediately sell and cause an initial drop when trading reopened, IMO. Unless of course, they came out with thorough proof and a clean and healthy Deloitte audit..then it could open way up. My guess is though, that it would initially open down and quickly recover any losses, and go on a nice and long run like we saw in Sept/Oct/Nov... I would have no problem with CME deciding to halt trading until they come out with complete proof that is indisputable.. it would sure beat letting the stock continue to get assaulted day in and day out for the next few weeks.
Yes, well I did the same thing, and for the same reasons he states. What difference does that make? He said he was hedged for the short term, because we don't know what kind of garbage MW and Citron will put out to make a buck.. That doesn't imply anything other than what he said, which I think is the prudent way to play in this park for the next few weeks..
I did close my put position today. I think we'll get some news on Monday that will cause a pop...and from that, I'll likely reenter my hedge.
I don't believe they qualified as an accelerated filer last year.
Not sure if anyone posted about it, but there is a good new write up today from WCTBIlls on his blog..
Regardless of who wrote it, what I say is who cares? I don't see where it matters. Longs are freaking out every time someone utters the ticker symbol CCME and rushing to "defend the company".. It's ridiculous, and it's no damn wonder that the stock can't gain any traction. When people see others panicking or rushing to defend every little statement, it makes them nervous. Fear is contagious..I much prefer the way CME management is going about its business rather than the shareholders. If shorts don't have anyone to panic or argue with, then the smear campaigns and arguments would stop. They love all the longs getting defensive and rushing to "defend the company".. It's just what they need to start a panic...emotion.
I don't know what that means. Could you rephrase the question? I am assuming there was a question...
Yeah, but something tells me that this won't be a sell the news event..
I really don't see what the big deal is. So someone wrote an open letter to Deloitte to make sure they check everything to ensure that this company, which has been accused of fraud and has outstanding, standard setting numbers, is 100% legit. If DTT came out and said, we've checked this thing to these standards, the stock would rocket towards $30, plain and simple. I really don't see what the issue with this letter is..
Well, I don't think they can do that until the earnings are really done. I doubt DTT would allow it. However, Jacky talked about trying to get the 10K out early, so say it gets done 2/28.. Rather then just releasing the 10K on 2/28, announce that they will be released on March 7, with the C/C. The whole week of 2/28, the stock would be rocking higher..then the following Monday, we get a solid earnings release with DTT's sig. This would also give the BoD time after getting the financials for H2'10 in hand to figure out the dividend amount and distribution date, so they can release that info on 3/7 with the 10K. Boom.
Yes..that's a good point. I agree, they should release a date prior to releasing the earnings. Give it time to soak into the market.. Kind of like Apple releasing a new iPhone or iPad..they send out a date and let it soak in...let everyone start to speculate on that date. It's a marketing ploy, but it works.
Who says there 10K won't be out?
The better question is, who cares? I have no problem with this website or the open letter to Deloitte. If CME has nothing to hide, then Deloitte should check all these things with heavy scrutiny. Once that is finished, CME would be vindicated and the stock price should begin to trade accordingly. Let it be said, let it be done.
Edited..I misinterpreted that letter. I don't disagree with this letter, let Deloitte go as far as necessary to prove beyond a shadow of a doubt that CCME is legit. I have no problem with it...I don't see why anyone would be scared by that post though..
That's not true.. If they're on margin, they can be borrowed. If they're not, you can request that they not allow the shares to be borrowed without your permission. The sale order trick is a myth though..
Can I just say WWWWEEEEEEEEE!!!! For me, of course I want the share price to appreciate, but I view the ability to buy at stellar prices even more important to my ability to make money as the thesis/belief that I'll eventually be able to sell at much higher prices. There is a lot of money to be made in CCME now at $12.XX rather than $2X.XX.. I can afford a lot more shares now than I could a few weeks ago...now I'll have the same position I had before, but without being on margin. That will make it that much harder for the shorts to find shares.. I wish I had sold at $23 rather than $15.50-$18, but considering that I sold at $15.50 and $18, I'm sure loving these $12's..
Good to see no shares available again on IB.. Maybe we won't fall off of Reg SHO so quickly. Volume is drying up, and while we may see another hit piece, I agree, it won't have the same effect as the others, unless they have some real info (which I think is unlikely). I wouldn't be surprised to see a nice reversal late next week to put the $13 puts out of the money, and to see the shares head back towards $15/16 range.. I have to think that the shorts are going to try one more time to shake the tree, but they also are going to have to cover before the 10K which could come as early as the last week of Feb.. That is, unless they think Deloitte won't sign off. To think Deloitte is still missing something after all these allegations are brought forward is a little farfetched, IMO. I think we'll see a nice run into earnings, and possibly a nice run right after earnings are complete due to the Deloitte signature. Especially if they come out with some buyback figures and the dividend amount and date.
They either don't care, or don't want the stock to appreciate right now.
It's a good find and good to see, but we've seen job listings before from CCME. It doesn't prove anything one way or the other though, IMO.
Since we're all bringing up conspiracy theory's, how about this. The shares were rapidly approaching a level that would have caused Starr to convert the preferred shares to common, $25 for 20 out of 30 days or $30 would make the market cap 1.2B. The short position first started rising when the share price was approaching and cracked the $14 level..another level that altered the Starr deal, in that $14 for 20 consecutive days allowed the company to call in the Starr warrants..something that didn't end up happening for 8 more months.. What is 8 months of having an extra $10M worth to Starr? What is a few more weeks of Starr's preferred shares worth to Starr? For one, a fresh Deloitte audit. Not sure what other motive Starr might have to have MW and Citron allege fraud, other than keeping that preferred share status a little longer..
Just a random thought..
Yes..I' thought that was pretty interesting. Considering the whole fake John Bird on SA though, I kind of wondered if this wasn't another clone.
Exactly..this happens often with a new distribution or retail company having to source material from another distributor, as Apple wouldn't want to open up an account for every little shop that opens. Instead, they direct them to a local distributor. If SWITOW proves to be successful and sales become worthwhile, then they can look to go direct to Apple once they have the sales data to back up there platform. I don't know why anyone would even expect a brand new platform to have direct contracts with Apple...that's just a silly idea, and why CCME put in "or their distributors".. Companies I have worked for have done something similar..they buy from a regional distributor until there is strong demand, and then they have something to bring to the table when the sit down with the manufacturer.. I often wonder if the people making these accusations have ever worked in any business besides manufacturing of false accusations..
What is not specific about:
In a separate but related note, CME today also announced its December 2010 contract with Eading Group (www.eading.com/web/eadingcompany/rongyu/), one of Apple Inc.’s official distributors in China to advertise Apple products, specifically iPads, in CME’s SWITOW magazine, a new B2C shopping platform for its contracted advertisers.
http://finance.yahoo.com/news/China-MediaExpress-Holdings-bw-688675904.html?x=0&.v=1
Not sure..VISN does the metro/subways, so I would guess they do the broadcast on these the same as they do the inner city buses.. My guess is the long distance trains that I was referring to would have to do something similar to CCME, but I suppose it could be a replay of network content..
Really though, CCME's is a rebroadcast of network content, right? They just insert there own ads, from what I understand.
I've never been so happy to get to the bottom of a thread in my life.. I kept scrolling and reading and scrolling and reading... My eyes are crossed! John Bird is such a tool...he really thinks he knows everything too. He likes to point the finger at everyone about how little they know about the audit process or the meaning and validity of the SAIC doc's, yet he clearly doesn't have a full understanding himself.. What a joke. All he has is suspicions...same as MW and Citron. I really think that they keep thinking if they keep throwing darts, at some point they'll hit something.
There are already a couple of companies doing ad's on trains, but I don't see why CCME couldn't look to compete with them or buy them outright at some point. One of them is SOE though, so I'm not sure if a buyout on that one is possible, or how easy it would be to compete..
Not knowing the ad business itself, I can't speak for it. However, I would imagine this to be true in nearly any supply chain. I work in distribution of building supplies, and anytime an independent rep agency, or manufacturer decides to skip the local distributors and go direct to my customers on a grand scale, they get immediately black balled. I have only been in this industry for 5 years and I have seen several companies shrivel and lose multiple customers because of this decision.. It is certainly something that CME has to consider fully before getting too aggressive with the direct advertising.. As long as they aren't going directly after the the companies that source ad time from the agencies they sell ad time to, it won't cause conflict. However, if they are targeting the very brands that are already buying ad time from them, but through these agencies, that could possibly fester into a major backlash from the ad agencies..
Looks like a different article? He talks about his "last article, I presented the SAIC and SAT nubmers".. Isn't this a follow up?
Yes, but still, IB shows 25K shares available...so if there are shares available to borrow, how can there be an abundance of naked shorts? Yesterday, IB had 200K available..
I kind of doubt we'll stay on RegSHO long considering there were ample amounts of shares available to borrow yesterday...
I doubt that...in a few weeks, MW and Citron will be loading up the shorts on the next victim and figuring out which angle they want to hit them from.. CCME to them has been used and abused, and while they may come out with another article or two, they've done there job here.. They won't keep hounding this stock forever..look at CHBT, UTA, ONP, etc.. They hit it and quit it.. I'm not saying they won't attack CCME one more time, or that they won't eventually come back at the others, but they can only scare so many people out there shares before the shares are in strong hands.. At some point, shorts have to cover and move on..
When you respond, it will automatically delete it unless you check the box that says "Keep this message"
You're a better man than me.. I can only post once or twice over there without getting frustrated at the stupidity..unless I'm really bored and just looking to argue to no end..
There is a big difference in a former employee suing for discrimination versus a company being sued because of fraud when they haven't committed fraud, no? I highly doubt CCME would just settle something like this out of court or something..that would appear way too much like admitting they committed fraud..
FWIW, I bought some of these today to hedge my long position.. They're cheap, and will allow me to not stare at the screen all day while I try to get my "day job" work taken care of.. I think any short attacks that happen will happen between now and then, so I figured I'd go ahead and hedge my long position a bit to cover my a$$... I'm not responsible for nearly 5K of them though..
Yes.. He should check the filings of VISN, AMCN, and FMCN to see that all advertising media companies in China are set up with these contractual agreements. The PRC doesn't allow foreigners to own equity in a Chinese ad/media company, so they set up these contracts so that foreigners can own the economic P/L's but not actually own the operating entity...
Just make sure when they call you that you don't answer the phone with "Buh buh buh boooyahh!!" Haha...
Yep..they're definitely reading the board..
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=101061&tid=56792&mid=56792&tof=1&rt=2&frt=2&off=1