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I think we have started the process, the shorts are not able to keep it down, they are keeping it from taking off but only just, they are getting in deeper and deeper. As their profits erode they are more likely to close out their positions. Getting back above $5.00 will be a real statement and should trigger a lot of covering.
Next short interest figures will be on next Monday and shortly after that hopefully the 3D.
With the Russel buying having taken a big chuck of shares out of circulation, it is difficult to see how shorts will be able to buy 20/25 million shares without an exponential increase in price.
I will probably take some off the table at $10.00 but only because I am way over weight on this.
Got an alert from Etrade today as follows
"Due to DTC's suspension of settlement services, E*TRADE Clearing LLC
(ETC) has suspended trading in the securities identified above. You
will be able to execute closing transactions for option positions in
your account by contacting Customer Service at the number below.
Please note that you will not be able to execute closing option
transactions through E*TRADE's online trading platform. While option
assignment may occur in your account, exercise instructions will not
be accepted. Shares and/or option contracts will continue to remain
in your account. "
Still no info on the reason for DTC suspension, below is all Etrade had to say.
"All of the information we currently have on these suspensions was provided in the alert you received. Information will be provided to you as it is received. We have no additional information as to why this particular stock has been suspended. If you have questions about DTC suspension you can call the Operations Regulatory Compliance Hotline at 212-855-1780.
Sincerely,"
Good info thank you
Setting up nicely for a hell of street brawl
At some point some large long/longs are going to yank their shares out of the shorting pool and start a buying panic.
No I have not
Fidelity is the only one I know that definitely trades it
The company only communicated via sec filings and were typically late with those, the fact that we have not had any PR's should be of no surprise to anyone.
For a brief spell it looked like they might do a PR initiative and try and keep US investors in the loop, we had a couple of PR's along with the sec filings and we had a email address that was operational for a while vp@jadeartgroup.com. But that went silent.
The silence may well be explained by the fact that they have reverted to only communicating via SEC filings and since their auditors were disbarred they are playing catch-up with their new auditor.
Wishful thinking perhaps but not entirely too far fetched. A new auditor going back over the books from 2009 forward in this environment would take a long time..... well worth a roll of the dice at .03 IMHO.
I was kinda hoping we would get something by June 30th but clock is ticking on that one.
When the selling abates I think we see the mother of all reversals
4.00 holding well so far
Calling for a green close ...... Cause that is how I roll
But first they will have to change brokerages to do it.
Unbelievable stuff
I bought at .44 .41 .39 .37 .34 .19 .18 .17 .16 .15 .14 .12 .08 and .04
Average is around .18
I am still hopeful we get a filing .....
Since it happened on the day short interest figures are released it could be related to that.
Short interest per the attached is just under 3 million
http://www.otcmarkets.com/stock/CCME/short-sales
I really don't want to get tied up again here indefinitely
My Guess is news Thursday Morning so that he will have something to talk about at the CC.
And the news will probably be that we have selected drilling targets.
At 80 the .lockup debenture holders will be on a double from .40, Not a bad return for a 4 month lockup in this market. So I would say running through .80 will not be so easy. There will be sellers.
But it is a great sign that they are not selling in the .50's
This whole sector is a minefield. Even the big names with good news and mainstream backing are getting taken out and shot. (YONG) and the hit pieces just keep on coming (HRBN)
At .03 cents Jada's downside is limited.... if there are some bottom fishers looking to throw some lotto money at the decimated China RTO sector I think the risk/reward on Jada is about the best out there.
Bid looking firmer
223K on the bid at .03 currently
Potential for an unthinkable second green day....
A green close
OMG!
That anemic volume may not last, I expect we will get some buying on this.
A while ago folks were wondering if CCME would even bother showing up for this. So the fact that they did can only be viewed as positive.
.029 no end to the misery
Jan 2012 ...Just $1.15 premium currently ... I think you might be right .... seems very cheap
Or Jan 2013 for $2.15 if you really like a long runway.
all this volume, over 4 million already and not much price movement yet. (currently down .06 cents)
I think shorts are shorting more.. Brave souls.
Markets back to green has me thinking we may get an end of day rally here.
June $5.00's were going for .05 earlier, ask now back to .10 ....... Tempting indeed
Pipers Rapid response team is apparently not very rapid
Nearly 6 weeks on the job now and still no news
although I do see that Piper PR as a positive, maybe they are about to come out with a guns blazing defense.
Also the fall in the short interest is usually an indication of a bottom.
I picked up a few more this morning. I'm betting that when we do hear from them it will be better news than expected.
We are on both the Russel Global and the 3000 lists
This is very cool
Will be interesting to see what the shorts do Monday
I think that sums it up nicely ..... worthy of a sticky
Last Paragraph....... Short, Trash, collect and then go Long. Should not be Legal.
"Mr. Block said Muddy Waters isn’t exclusively about selling stocks short. “There are good Chinese companies listed in the U.S. We intend to identify and recommend Strong Buys on them,” he said on the company’s website. As yet Muddy Waters hasn’t issued any buy recommendations."
WSJ blog on Carson or Carlson as some like to call him
http://blogs.wsj.com/deals/2011/06/10/china-researcher-carson-block-captures-investors-interest/?mod=yahoo_hs
Good to know you have a small remnant of shares
I am still hopeful that we will see audited financials at some stage in the not too distant future and that the reason for the delay has been getting a new auditor and bringing them up to speed.
Lost in the noise is the fact that Piper are still on board as evidenced in that WSJ article. This is a positive.
The stock price action itself is a positive.
That's two new positives and no new negatives.
That does not negate the existing negatives.
I believe the company will come out and defend itself eventually and that the news will be relatively good, or possibly more correct to say relatively not that bad.
There will be value here of that I am sure ... but it's a guessing game now and not for everyone.
I believe the lock up may only be expiring today or tomorrow, so you might have a good shot at getting filled on Monday. The PR from Feb 11th says the lock up expires 4 months and 1 day from closing.
Doesn't actually say what date it closed but the PR was released on Feb 11th at 6AM. So if they signed on the 10th then tomorrow would be 4 months and a day. If they signed on the 9th then it's today.
Not sure how strong the hands are that hold the warrants.
http://finance.yahoo.com/news/American-Manganese-Closes-iw-436823662.html?x=0&.v=1
I think you are right. Time for someone to ring a bell and call a bottom on this. I have done that three times already so my credibility is shot. lol
Pink sheets stops.
Did someone put some stops in at 1.96?
Must be new to pink sheet stocks if you did. You can't use stops down here. The MM's just take your shares, sometimes without even the courtesy of walking the price down.
I think folks are expecting more of a pullback in the overall market so there is less than usual front running buying for the index inclusions.
But the buying will have to come next week regardless.
Oversold bounce or good news coming from Hong Kong arbitration proceedings v Starr?
I have no idea
But it sure looks like we do indeed have a lot of shorts that did not cover yet.
The fact is we do not know the extent of the fraud. So to accept that it is 100% fraud and going to 0 fast is extreme.
I am optimistic that there was/is a real business underneath the fraud. I believe at some point we will hear from them and at that stage it will be valued much higher than it is now. Got some at $1.50 and $1.30 which are looking good currently.
My Golden rainbow scenario would be a buyout in the $5.00 - $6.00 range, which I actually think is not fantasy. It depends on the extent of the fraud.
And it's also trading very nicely.
and the big news here will be the 3D report which could come anytime. That will most likely show big increases in the amounts of unrisked oil.
100K block on the ask at .0385
oh ye of little faith
Volume pretty decent relative to the anemic volume we have been seeing here on the pinks. over 560K already with 3 hours to go.
Perhaps we get a decent bounce into Starr's law suit in anticipation of hearing a half decent defense
The "Carson Block may be just an idiot" bounce.
A 100K shares moved it up 20cents or 17% in a couple of minutes
Now that bodes well for a proper bounce if we actually get some news.
Dipstick55,
You Say "the boards sentiment was based on all known published information used to invest in a stock" ... So what? Collectively we got it wrong. We did not know the reality of the situation, our investment thesis was incorrect, we all lost money....ie. we were wrong.
You also say "Second, Its not negative, is obvious, based on factual events in the last 2 1/2 months." ..... Not sure what you are trying to say here. But again we only have a limited amount of data to go on, the full picture is not available to us. But now the overwhelming sentiment in negative, folks saying it is worth 0.
My only point is a simple one, message board sentiment has been a contrary indicator on this one and right now it's saying buy.
The bet is that this is an Overstock style bad situation as opposed to an Enron or Madoff style bad situation.
I think we will get news but not until after the Starr court case starts, the bet is that the news will not be as disastrous as the current price suggests.
Since the message board sentiment has always been wrong on this stock, the current negative sentiment from prominent posters should be taken as a buy signal.
I added and will likely add again if it tests $1.00 next week. Which is a possibility.