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Despite the negative market conditions we are not faring too badly. One benefit of having such a high short interest is that now that the shorts have used up every baseless claim imaginable and have no more credibility, they will use days like today to cover (if they are smart) and quitely make their exit.
One thing that I've always noticed, CCME holds up better than most stocks on red days and with many upcoming catalysts even with a market correction we should hold up well enough until the 10K arrives sometime in March.
You know I wouldn't put it past Zheng Cheng to have already planned to do just that when he made the deal with the earnout shares.
Its the only instance in which he could sell most of them and have it be considered bullish for the company. Even if he never thought about it I'll bet he'd be quite interested in the idea.
Nice comparison... Many of us have said for the longest time that CCME should dual list on the HK exchange. CCME said its been under consideration but they don't know which market would determine the price so their not sure if its worth it, but I'm sure we can all agree it would be the HK exchange that would determine the price and help to bring us to fair evaluation.
I'm still hoping they have been working on it and are only keeping it under wraps until its well underway. To me it's one of the simplest things they can do to build shareholder value short and long term.
Wow that whole video was garbage except for the very informative part from 3:47-4:00 that part actually sums up the video nicely.
Someone already stickied it at the top. Not sure I agree, but whatever.
I'm in the same boat, never use stops and I was about to buy $20 puts (for less than a dollar if I recall) but I thought it was too expensive at the time and that we were headed for $30, boy was I ever wrong:p
Nah its not going to get ugly because the shorts are full of it and anything they put out even if it causes a dip will be bought right up.
At this point 90% of whoever would have sold at the drop of a hat on a hit piece is out. Either the margin got them, the fear, the volatility or one of the many hit pieces already. Any new dips created by a bear raid will be bought right up by longs, traders, and institutions who know the game. Hell, even the guys using stop losses must have wised up at this point after getting taken out again and again.
The shorts will be fighting among themselves tomorrow, last to cover is the loser.
Thoughts on tomorrow? I think there's a good chance we get some news on Tuesday after the holiday and if I were short I'd definitely not wanna hold over the weekend.
lol, would be nice if you didn't use such a broad statement for all of us longs. We might be stupid for not using stops, but we've got steel balls:p
Hey MW, suck it we're still green you POS's, All those puts you bought are worthless. LOL
Puts a smile on my face thinking how the shorts plans were ruined today. They probably had it all worked out, too bad for them GH did some real top notch DD.
Shorty's Thoughts:
Retail shorts, say what you will but you can't say they don't try, LOL.
Hey Rato, we saved you a seat at the back of the bus:p
All of the allegations have been refuted and then some. Huge price discount and it will only be a matter of weeks until we reach new highs. We can finally get this 800lb gorilla off our backs and this report will no doubt garner CCME even more interest from the big institutions who will be using any pullbacks to lock up the float IMO.
Nice strong finish at the end. Someone letting the shorts know the jig is up.
Enjoy your R&R and thanks for the updates & ideas.
Yea looks they were desperate to keep us below the 200MA, and the fact that they tried one and keep hitting the bid is more of a tell tale sign that they have no more FUD otherwise they'd be living it up shorting at higher prices.
LMAO Burp that's so hilarious.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59911881
(edit, lol used my last post of the day too)
lol, yea I'm fairly certain quite a few dumped. We'll see if they are smart enough to buy back in once the 10K comes out, but it'll be quite a while till we get these updates.
It's total holdings including the adds. Barclays was 100% add, Oppenheimer 50%, and MS I think 20% or so.
Personally, I'm most interested to see what GS did.
Thats up until 12/31/10 so that would be pre-attack. But it doesn't matter because the institutions have been taking advantage of these post-attack prices, of that you can be sure.
I frankly think we're close to 20% now and we'll be over 30% sometime in March. You'll see it reflected in the price as we rise higher post 10K and the volume starts to shrink.
9 new 13F filings today, looks like everyone shows an increase in ownership. The notables are:
BARCLAYS PLC - 92736
OPPENHEIMER FUNDS INC - 273214
MORGAN STANLEY - 137722
I think we hit 15% today.
Maybe some people got word that the GH report will be released tmrw, who knows. Wouldn't surprise me one bit.
It's all about them making sure they pamper the proper officials every year. I'm not talking about illegal bribes but more along the lines of making sure they are vip guests at all the galas, and always keeping them in mind. I'm sure Zheng Cheng sends some nice gifts of appreciation throughout the year.
hundredwaters, I can't reply to PMs but basically the videos show further proof as to the size of CCME's network(more than 1000 buses with this particular company in the video). And that the majority if not all buses in Shenzhen are in fact 2 screen buses just like the company said. Also, there were 4 companies using the CCME system but only 2 were shown.
Try this direct link to Youku and see if you can get around the firewall.
http://v.youku.com/v_show/id_XMjQzODA5NDIw.html
wctbills, thanks for all your work. Your DD on the ground is like a knife in the shorts heart.
Thanks for the insight and please keep it coming:)
Nice call on MELI so far, and I liked the explanation on your thinking for the USG trade.
Quick question though with the MELI options. Do you use a rising stop loss or mental stop loss at all in case it starts to correct?
The point your not getting is that no one here has the right to ask such a personal question. Its not good form to ask a CEO of multi million company whether he has the money to buy the shares.
Its an unrealistic expectation that no other company except CCME is being held to. Don't let the FUD get to you.
Thanks for that update Joe, looking forward to the new report by GH.
PUT open interest - Decreased by about 3k on the Feb $13 strike and I estimated on Friday that about a larger percentage of the volume on the puts $10 and below for Feb and March were sold not bought.
Lets see what happens this week.
Can anyone tell me how I should be reading the options part of this latest institutional report.
http://www.sec.gov/Archives/edgar/data/1446194/000144619411000001/sigllp_q42010.txt
If I'm right it looks like they might be doing a spread and they sold 4022 puts and bought 3292 calls or vice versa. Of course that was before Jan 1st. I'm just curious is all and wonder if many institutions aren't actually taking advantage of the premiums as well before buying shares.
lol, well we'll see if the shorts really are on their last cig this week. If they are I certainly hope they don't enjoy it. But enough said from me on this issue.
It's not about short term or long term with regards to the halt. From my perspective it would be done with a PR release from management stating that they called for the halt to prevent more damage by any further false allegations. They would announce a dividend with intent to buy back shares when the stock trades again, and trading would coincide with release of the 10K.
It wouldn't be longs saying 'they got my 'f'n money!' it would be shorts saying 'I'm screwed'. The whole purpose would be to show that if you mess with them, they will make you pay. You never know they might release some news tommorrow and then at the pop halt the stock.
Yes it would have been a long wait for an HK listing as well, and they might not even have been accepeted. The timing for them was crucial to be able to take as much advantage of their agreement with the MOT as possible.
Up until 2009-present there wasn't all of this negativity around SPACs, and I believe it has been a concerted effort by some key players on wall street and the media to discourage companies from taking this route.
Exactly the point. If anything they would want to avoid attention and wouldn't want to look more profitable than their competitors, that would attract unwanted attention and cause people to doubt their numbers which is what a real fraud wouldn't want.
Instead they don't care if people don't believe their numbers because the numbers are for real and that's the only thing that matters.
I agree with you on most of your points here especially the halt, and even the dividend amount if were a special one time dividend, with the regular being more inline with 10-20% yearly.
The funny thing is they can still take these steps to prevent further damage and any shorts left in the stock would contribute to a squeeze. Unfortunately, its always easy for us to speak after the fact and management isn't experienced in these regards, though I'm sure they'll have learned more than a few lessons.
No doubt we've all heard the saying 'the grass is greener on the other side'. That pretty much sums up what Zheng Cheng was thinking when they made the decision.
Here is what he might have thought: 'FMCN and VISN are very well known, they have the recognition of being premier advertisers in China media. They are both listed on US exchanges and have/had very high valuations in 2008 before the crash. But, I'm growing impatient and don't want to take the time to do an IPO, a RM is quicker and less costly and if we get a reputable institution to back us from the beginning it will be no different than an IPO.'
I don't find it hard to believe that he made a mistake because he didn't know how SPACs were viewed, and wanted to be on the same level as respected competitors. Its the same way many people in North America though CGS stocks were gold mines just waiting to be discovered. The grass always looks greener on the other side.
I'm sorry but I think that is expecting far too much of any company. I don't think there is a single small cap company anywhere in the world that gives 100% of cash flow as a dividend. Any company that did that would be severely limiting its future growth prospects. There is no reason in the world that the company should be paying a 2-3 annual dividend.
All these allegations of fraud have gotten way out of hand to the extent where unreasonable demands are being put on the company. CCME has a plan for the future, and they shared a part of what they plan with SWITOW, I have no doubt there is more. Once their agreement with the MOT expires they will have competitors try to move in on their market, and they need money to be able to compete with the likes of FMCN.
When the company went public, it was another market entirely and everyone thought the markets wouldn't recover for a long time. They wanted to make sure they could capture as much of the market as possible and being listed gave them another option in case they needed it. That's one of the reasons they were in talks with Starr months before.
They haven't needed to do any public offerings because they are very profitable and instead of being happy to find such a gem your cautious because they should give us all the profits? It just doesn't work like that. How it works is if they were a fraud we would have already had 2-3 dillutions with pr reports every 3 months saying they grew their bus network by 5-10k buses.
Instead we got no pumps from the company, only facts and conservative estimates. The fraud debate will be settled once the 10K comes out and anyone who doesn't believe the numbers at that point won't ever believe.