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yes but those 35 billion are restricted for one year
and 2 billion shares is alot to a market maker...how many of the other CMKX market makers do you see holding the bid/ask alone when they are hit with 2 billion shares? Most of them will buy or sell 50 - 100 mil at a time
wow this is f*cking unreal
the action towards the close proves these MMs are purposely holding this down
JEFF sits alone on the ask and is slammed with close to 2 billion shares and not only does he not move but SCHB and FLCR come down to join him
This is not even a market anymore...its almost as if there is an unlimited supply of stock. ECON 101 - when the demand for a particular entity rises the price should follow. Now what we've seen is the demand for this stock rise exponentially and the price falls...that basically means that the growth in supply of this stock i.e the public float is outpacing the growth in demand... this is insane
for every share JEFF sells @ the ask we get one step closer to a higher pps(yes, i know what i just said):
because there are only 2 broad scenarios:
1) He is continuing to short: I don't think this is happening but hey, who knows. If he is he can only go on and on for so long; it would only compound the short squeeze when Roger really lets this go...
2) He is selling a large block of shares for somebody; well, that person only has so many shares to sell. I mean how many shares can he have left? Even if the O/S is 500 bil, we know 75 bil are going to Nevada Minerals and insiders have to own atleast another 50 bil(assumption), so that leaves us with 375 billion shares. The last know O/S # seems to be about 40 - 50 bil, but since then I'd say atleast 200 billion shares have been purchased by retail investors(I mean this is one of the most talked about companies around, there are probably 10's of thousands of investors, some with 100's of millions of shares).
JEFF's inventory must be getting low, unless of course he doesn't have one at all...
JEFF is confusing the hell out of me...
first he sells billions upon billions of shares, then he moves to the bid where he picks up some shares, now he's back on the ask selling more shares in a matter of 20 minutes than he bought @ .0004 yesterday...
and NO, he is not playing the spread:
when he was bidder @ .0004 he could have been buying anywhere from .00040 - .00044, now he's selling between .00035 - .0004
true, but what is in the ground has yet to be proven economically viable...
you have to sell into strength when you're selling a large block of shares - something JEFF seems to be doing very well
maybe he is selling to the shorts
maybe someones dumping from an offshore account
maybe this is a concerted effort to keep the price down
maybe JEFF is just the figure head showing up on L2
maybe he is continueing to short
maybe Debeers tried to buy us out and pick up all the claims around there Kimberlite bodies, but UC raised the A/S and issued 251B in treasury stock to stop it, now debeers is dumping, still for a nice profit...
maybe this is a scam and JEFF is dumping the proprietary shares
maybe maybe maybe...
JEFF back again... and he's getting hammered on the ask
looks like he's sold a couple 100 mil so far...in a matter of minutes
ya,
I have also heard Melvin say they are still buying back shares...
I hope, really hope, he is right but I don't know how this company is not diluting to raise capital...
last time they filed I think the O/S was around 40 billion and in a matter of weeks we'll be able to calculate the O/S by our ucad/CIM dividend.
Could he possibly be that stupid? Why would he say these things right before the O/S is released? If they're not true and this O/S is infact anywhere near 400 billion then we're all screwed IMO
I don't believe a buyback/dilution scenario is out of the question...
Urban, realizing that the stock price would have to come out of the basement(especially with the upcoming news about the new lawyer and diamondiferous kimberlite) began buying shares @ .0001 or less, returned them to the treasury until recently, and now are being released from the treasury and sold back into the float.
The potential profit for the company is huge, lets say he was paying .0001 for these shares and has been selling them between .0004 and .0012. Now, one may argue where would he get the money for the intitial buyback? Well, I'm sure Urban has quite a bit of his money he would be willing to infuse into the company to facilitate such a huge return for the company, and himself as well. If not I'm sure he knows of a few financeers that wouldn't mind making a %100 return on investment, with the rest of the profit finding its way back into CMKX.
This would explains JEFF's behavior as a net seller and his particular 'actions' around CMKX pr's. Last friday, before the dividend prs, he moved off the ask and yesterday he did the same thing before the 3:30 pr. It would also explain why JEFF seemed to be a net buyer of CMKX in the basement over the past months...
just a though
freetrade, which is a division of ameritrade told me that they were responsible for the credited shares in my account, even if a MM has sold me naked short shares...
I've posted the email response a couple times already on this board...
THEY ARE RESPONSIBLE... if they tell you that you have a certain amount of shares in your acct. they are responsible as your broker to acquire the certs and credit your account with the market value of the security when you decide to sell. If they do not then they will be forced to pay via class actions suits, potential litigation from the company, and pressure by the SEC & NASD
question
anyone know whether the order the MMs are lined up has any significance?
I'm under the impression that because of the fifth decimal place the top bid/ask is actually the 'best' price being offered.
for instance TDCM probably has an ask of .00046 right now, followed by SCHB @ .00047 etc. etc.
anyone know for sure?
NITE absorbing alot of shares on the bid...
a relative view of our claims vs. shore and debeers:
debeers is bordered in red and shore in white, cmkx is in blue...Debeers has the best kimberlite bodies and Shore Gold has already pulled sizeable and colored stones out of the ground. Geuss who has the rights to all the surrounding lands?
interesting find
<) John "Ed" Dhonau (hereinafter "Dhonau") is a natural person who conducted business in the State of Ohio. >
yes, in 1998
another one to watch for a possible bounce:
not a good trading stock
spreads and volume will kill you if the trade turns against you...
some really interesting things happening on L2 today
if NITE holds the inside @ .0004 and JEFF stays the F*CK off the ask this would seem very positive
Now, the question is - are these MMs rotating on and off the bid filling large orders or trying to shake shares for a cover..
what's even more interesting is the lack of selling pressure into the .0004 bid
would love to break through the wall @ .0005 but don't see it happening today without some serious demand for shares
last time JEFF left the ask and allowed for an uptick was last friday, the trading day before the dividend news....its also interesting that the day JEFF comes off the ask is the day after some powerful CMKX news...hmmmm
its not that big of a spread when u factor in the 5th decimal place
probably had to pay .00033/.00034 for those shares and is probaly selling them for .00046/.00047
still a ton of $$$
SEAB gone...FRAN just took his place
i geuss someone wants alot of cmkx @ .0004 - remember at this price the dividend is paying a huge ROI, big money would be smart to accumulate here...
its interesting, this is the first of NITE on the bid in a while...
SEAB is another interesting one...inside bid @ .0004 with an ask @ .001
here we go
SEAB bidding now too...
NITE & SCHB bidding
SCHB just took a boatload of shares @ .0004
has anyone had problems with freetrade's execution of stop orders?
i was short on gnss, it dropped and i put in a stop order to cover if it went above 10.95
well it went over 10.95 and it took them over 2 minutes to cover, my trade finally went through @ 11.07
and its not a liquidity problem, the stock has traded over 2 million shares so far...
ya,
glad i got some...up about 6% this morning
if it breaks 1.40 it could get real interesting
may be an interesting bounce tomorrow...
in today @ 1.36, 1.34, 1.31 w/ a stop/loss @ 1.29
just called JEFFRIES & Company and asked them what their policy is on disclosure for particular equities they make a market in...
the response I received was:
"uhh...what"
repeated the question
"uhm...who is this?"
answer
"oh...the person who knows isn't here today"
I asked - what do you mean?
"you need to call back Wednesday"
not yet, watching one of my positions into the close...
will try and call after the bell...
I'm sure JEFF can help you out...
JEFF M JEFFERIES & COMPANY, INC. BULLETIN BOARD TRDG 212-284-1730
JEFF M JEFFERIES & COMPANY, INC. NASDAQ TRADING 972-701-3100
JEFF M JEFFERIES & COMPANY, INC. DALLAS TX 800-527-6816
JEFF M JEFFERIES & COMPANY, INC. AGENCY TRADING 972-701-3250
JEFF M JEFFERIES & COMPANY, INC. DALLAS TX 877-273-9728
JEFF M JEFFERIES & COMPANY, INC. LOS ANGELES 310-914-1163
JEFF M JEFFERIES & COMPANY, INC. STAMFORD CT. 203-708-5866
JEFF M JEFFERIES & COMPANY, INC. 866-682-2398
JEFF M JEFFERIES & COMPANY, INC. INTL TRADING 203-708-5890
JEFF M JEFFERIES & COMPANY, INC. 800-525-8620
JEFF M JEFFERIES & COMPANY, INC. 877-350-BULL
JEFF M JEFFERIES & COMPANY, INC. NY BULLETIN BOARD 877-350-2855
JEFF M JEFFERIES & COMPANY, INC. LISTED TRADING 973-912-2790
JEFF M JEFFERIES & COMPANY, INC. CONVERTIBLES 203-708-5868
JEFF M JEFFERIES & COMPANY, INC. BROKER/DEALER DESK 212-284-1730
i should say im with the Wall St. Journal
haha
out of curiousity -
has anyone called Jeffries & Company?
Is there sometime of disclosure they must adhere to on stocks they make a market in?
If no one has already, I may just give it a shot and see what kind of response i get...lol
from freetrade(ameritrade)about certs & naked shorts;
They are held at the DTC in street name, however, the number of shares that you have purchased are credited to your account. You will not lose the shares is a market maker illegally shorted the stock (which has not been confirmed) and will be able to trade them at any time.
from your broker
they are responsible to pay for the shares in your account...
The Dividend play;
Whoever said there is no such thing as easy money doesn’t know what they are talking about…
Just look at the cmkx/ucad dividend play possible:
Assuming the following:
Recent pps of ucad = ~ $5.00 ( High of day @ 5.25)
Recent pps of cmkx = .0004(thanks to JEFF)
3 scenarios:
1) worst case scenario – O/S is 500 billion - ~ 1 ucad share/67,000 cmkx shares
.0004 * 67,000 = $26.80
SO – for a $26.80 investment in CMKX you receive a $5.00 dividend in about 25 calendar days or a 18.7% return
That’s equivalent of to an annual rate of return of 18.7 * (365/25) = 273.02%
2) More likely scenario – O/S is 200 billion - ~ 1 ucad share/27,000 cmkx shares
.0004 * 27,000 = $10.80
SO – for a $10.80 investment in CMKX you receive a $5 dividend in about 25 calendar days or a 46.3% return
That’s equivalent of to an annual rate of return of 46.3 * (365/25) = 675.98%
3) What we’re hoping for – O/S is 40 billion - ~ 1 ucad share/5,350 cmkx shares
.0004 * 5350 = $2.14
SO – for a $2.14 investment in CMKX you receive a $5 dividend in about 25 calendar days or a 233.6% return
That’s equivalent of to an annual rate of return of 233.6 * (365/25) = 3,410.6%
I don’t even want to begin the calculations for a situation where the O/S is less than 40 billion, or the pps is less than .0004
Now, there are intrinsic risks with a dividend play like this. For one, the company could be a scam and you will receive no dividend and lose most if not all your initial investment. Or, maybe the dividend will be changed. Plus, you will not be able to receive the dividend for a year so you lose the future value of the return.
This is similar to playing a junk bond or high yielding/high risk bond issued by a foreign government (e.x. Russia, Argentina).
Yet the only difference is I don’t hear of many junk bonds paying an annual rate of return of at least %273 with a possibility of being %10,000 or even higher…
Now, if you’re someone that has a couple 100k or a mil that is just sitting in a savings acct. @ %1.00 apr wouldn’t you consider this?
I mean, if you believe in Urban or this company why not play this dividend and make some easy money…
I use freetrade and their response to me was;
Dear Valued Freetrade Client:
We do not send out the physical certificates, however, if you have an AMTD(ameritrade)cash account, you could transfer the certificates there and then they can have them reregistered in your name.
2nd email:
They are held at the DTC in street name, however, the number of shares that you have purchased are credited to your account. You will not lose the shares is a market maker illegally shorted the stock (which has not been confirmed) and will be able to trade them at any time.
A cash account is a brokerage account that you could open with Ameritrade. You would be subject to AMTD fees and procedures for that account.
took some profits and covered 1/2 my short on pbt @ 10.53
letting the rest ride with a stop/loss in @ 10.81
also picked up some vign on the weakness
stop/loss in @ 1.30
you forgot to add Glenn...
I'm sure the hedge-funds have thought of hanging the MMs out to dry, claiming they did not short or the MMs and their broker/dealers never made the affirmative determinations as to the availability of the security being sold short.
But here is the problem, if you counterfeit shares they eventually find their way into our brokerages account. Now when a company offers a dividend, the brokerage has to credit their account with the dividend. In order to do that the certs for all the shares held aggregate in brokerage accounts must be accounted for by the DTC...
Now if we have fake shares the DTC will not have the proper amount of certs for the dividend shares, and will only be able to provide the number of dividend shares they hold in "street name". That means our brokerage accounts must make up the difference between the number of dividend share certs held in the DTC and what must be distributed due to the large number of fake shares out.
In short the brokerages are responsible for the validity of the shares in your account and if the DTC doesnt have them the brokerages must pay. Obviously the brokerages aren't going to pay, and they'll go after the MMs who bought the stock for them, and they'll go after the MMs who sold the stock to them, who will go after the broker/dealers who sent the order through the system, who will go after their hedge-fund clients who sold all the naked short shares.
<Does that cancel out the short position in the MM's books, even though a real share never changed hands either going out or coming back in?>
1) broker/dealer sells short...assigns a cusip to an imaginary cert, brokerage account shows a credit for the shares, short seller receives money
2)broker/dealer covers short...brokerage account debits the shares(real or fake), short receives the bogus share back, shares are destroyed, books net out
3)DTC keeps their eyes closed and their hands out...
good point...
I think that it might be more of an informal arbitration between the parties involved in order to avoid litigation
I dont know if it would necessarily be considered price fixing if JEFF is working as a conduit between CMKX and the short hedge-funds by selling or buying back treasury stock for the company.
On the record Urban could have explained the situation to the trader @ Jeffries and told him to "use his discretion" in selling the stock...