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I think pretty much anyone with the March calls would be okay. The 10K and earnings should all be here March 16th at the latest IMO.
With the risk of beating this horse to death. It's not so much as people saying they don't have the staying power to hold on. It's more about sticking it to the shorts and their dishonest tactics. If the company has no other means to deal with the shorts until the 10K comes out then they should halt the stock IMO. We will agree to disagree on this point I suppose:)
If done with the right announcements I think many longs would be fine with it. Probably some institutions would be mad, but they haven't supported the stock at these levels so I say screw them for waiting on lower prices. While I would feel bad for the longs that lose money on call options, the reward in sp would outweigh the loss in a proper squeeze.
Remember it'd be the shorts that would feel trapped more than anyone else, sweating it out knowing once the 10K is released they are done.
CCME announces a dividend the same day of the halt and which long would be upset.
My key point on the whole halt issue is to not let the shorts leave on their terms. We're on RegSHO again which obviously shows they have no intent to move on before trying something else. Everyone expects something from them so why not turn the tables on them. Again though its more wishful thinking than anything else.
Yes and that's why I think its a no brainer decision. Look at the put volume for Feb. Everyone here is convinced shorts will try to pull something and make their position profitable. I say CCME should ruin their plans and follow a few steps.
1. Halt the stock with an announcement that trading will resume after the 10K is released to prevent further damage to shareholders.
2.Announce a dividend to shareholders on record as of the date of the halt.
3.Announce that once trading resumes a share buyback will commence and that any shares under a certain price will be bought by the company. (Let's say $20 for kicks)
4.Announce earnings date and conference call and that trading will resume at such & such a time.
And finally step 5 - Squeeze the shorts for all their worth and teach them to respect Chinese companies.
Ah so you see the beauty of a stock halt:)
The panic, which would result in nothing happening because no one would be able to dump out of fear due to the stock halt, would eventually subside and give way to the hard cold facts one of which would be the short squeeze once trading resumes, after the 10K is released.
Once the stock is halted it doesn't matter what the shorts or anyone else says. People will have time to compare all the facts with a cool state of mind. People will realize who is telling the truth and once the stock opened it would be game, set, match.
With regards to advertising partners, I don't think it would affect their relationship in the slightest. They are audited by the CTR and the advertisers no doubt trust the audit. Not to mention their advertising partners probably aren't even paying attention.
IMO a stock halt is their best line of defense, but I know its more wishful thinking than anything else.
It's not a matter of whether management is or isn't interested in the daily or weekly price of the stock. It's a matter of management defending their shareholders and showing potential shareholders(many eyes are on this)that not only are they for real but they won't take this BS from anyone. They have a lot of attention now and if they take the right steps they can crush the shorts and truly merit a PE valuation in the 20s. Who wouldn't want to invest in a company that actually stood up for itself and crushed those that stood against it, instead of twiddling their thumbs due to blackout period and waiting for the 10K to do the talking.
I don't care about the volatility or the sharp dips, but I do care about what is causing them and want to see management put an end to it. That's why I say they should halt the stock. Once halted any FUD the shorts spread will be pointless and once the 10K comes out they would be screwed the same way they screwed so many others.
Remember they've always been shareholder friendly. We wanted a buyback, they announced one. We wanted a dividend, we got it. Now more than a few of us here can see the logic in halting the stock, its just a matter of the right people suggesting it. Shorts shouldn't be let off the hook.
Very good take on the situation and its outcome gunnar. Indeed we always say why do they need all that cash and why don't they do a buyback or issue a big special dividend?
The small reason they didn't do it before is because they didn't need to and the share price was rising with normal circumstances. The bigger reason they didn't do it is because they are preparing for the future if the tongzhi isn't renewed so that the competitors will think twice before trying to undercut CCME. Big difference in the mentality of a competitor thinking to enter the market when you have $200mil vs $50mil or less. With that said the circumstances are different now and I'm sure CCME will use the cash because they're reputation is on the line.
One point people always like to make is that a lot of the business done in China is based on loyalty. Well, I'd like to think that CCME will start to show some loyalty to the shareholders that have stuck it out and give us some much needed vindication.
I think it depends on the situation and seriousness of the hit piece. For Citron there was no need to halt but for the MW report it should have been halted the next day.
Management was probably scattered around China for the holidays and were not in a position to respond for some time. The letter we got from the CEO was good but again management was still scattered and they didn't do anything above addressing the bigger points from shorts, and it didn't have a lasting effect.
Now I get your point, the fact that by the time they halt the stock the shorts would be long gone and the damage would be done. But this time its different, we are on RegSHO again and that is a telling sign. We probably have close to 7 million shorts, even more with the puts and they didn't move on. They are intent on causing more damage because they are greedy, spineless, manipulators with no fear of authority or respect for their fellow man.
The stock should be halted, whether the SEC does it pending an investigation on short allegations or CCME requests it. The shorts shouldn't be allowed to leave the party on their terms anymore and CCME should recognize what they have to do and use the money they have to crush the shorts. Its the only way people will respect this stock again.
That's the one thing management should have done right away to stop all these games. After the price recovered last Friday in anticipation of Monday news they should have halted the stock, finished the holidays and then worked on a respose that would kill the shorts once and for all.
Not only would the shorts have been stuck paying high interest on the loaned shares, not only would they have lost money on the high premium puts, but CCME could have issued a dividend, released the 10K and reopen with earnings with an announcement that they would buy any shares below $20. We'd open at $30+ and the shorts forced covering would be done at far higher prices.
A total annihilation of the shorts is what's called for here. Its the only way to teach them to respect the space. I don't have the ear of management but I do know what it takes to teach someone a lesson they won't soon forget.
They should halt the stock until March 21st IMO.
Well I've had just about all I can take. Is there no end to how low the shorts will go? And now all this talk from people about the share price hitting the single digits.
CCME should just have the stock halted until the 10k and let the options expire worthless.
lol, of course you'd prefer if they didn't release anything, then the shorts could continue to scare people out with a few big blocks here and there and all the traders could make money from the volatility.
Even more funny that you should call this gambling. The DD that's been done by many of us here prefer to call it investing.
Is no one here concerned that we are on RegSHO again? I was really looking forward to the shorts just booking their gains and moving on, instead they stuck around. Something just doesn't add up here.
I really hope management has a plan come Monday. Not much else to say until then.
Its still there, just scroll down.
http://ccme-info.xanga.com/
I was debating to buy some calls yesterday but decided to enter wait and see mode until sometime in March. Its looking like it will be a good play though.
I'm with you on that. These CGS stocks have been getting ripped apart. The biggest problem is there isn't enough institutional support, so when someone does yell fire instead of the big money stepping up and supporting the stock, you have a mass exodus of retail money.
I closed out all my positions recently except CCME, and despite them being the safest to own, imo the shorts proved fundamentals don't matter, its all about perception, and we all know what the perception on CGS stocks is atm.
lol, you made my day with that. I suggest you submit it to SA that's just the kind of story they're looking for:)
lol, I was just looking for the MELI board yesterday trying to find some DD. I'll be paying attention.
Yeah my thinking exactly, become unpredictable and release a pr when shorts are having a nice lunch and let their guard down.
Anyone know what happened to Brian Hunter's blog?
Nice job digging around Imcat. Chimin Sang should be more wary of committing fraud.
I'm watching but my hands and funds are tied with all the CCME drama atm:)
Still I appreciate your charts and even more so the advice on an exit strategy if things go south. I'm still learning TA and I'll certainly join you in some of your future trades. Hope this one works out well for everyone. GLTA
Seems 50/50 to me when looking at it. Either way its just as likely to be a hedge from big money as I remember abnormal put volume back in September as well.
Was just about to post the same thing. I guess we'll find out the reason sometime between now and expiration. Since I'm an optimist though I'll say its big money collecting on the premium and not worried if they are put the shares.
You don't know a single thing about the company and just jump with the momentum. The fact that you use CAPS to highlight the negative shows your class.
You just wanna talk yourself into the green on your short calls. Good luck with that because the big money on the long side will soon own this float.
lol damn, I can't believe I used my last post of the day on this fool.
lol something tells me wctbills was just waiting for the piece to come out so he could $hit all over it.
No news, shorts just took out stop losses. Positive note is at least the gap is filled.
Here comes another bear raid.
Its obvious he still thinks the people left in this stock can be shaken with such a weak attempt. Only people left are hardcore longs and institutions laughing all the way to the bank.
Chimin Sang Part 2 = FAIL
Did you see his face at the beginning of the clip, he was so pissed the shorts were proved wrong.
Not sure what they are thinking, but remember these guys will do anything to make a quick buck. I'm interested to see what BS they will come up with next.
Wow these shorts are really hitting the bid, must be naked shorting now.
If you would have just accepted your mistake for selling and bought back 5 mins ago you'd have no complaints.
The trading action is looking eerily similar to Friday. Nice bursts to new daily highs.
lol, why get down on the same level of the shorts if they didn't even say one thing that was remotely true.
In the words of Zheng Cheng: "The proof of the pudding is in the eating."
Yes it does.
This part made me LOL. Full of confidence.
ALLEGATION: Apple does not have a deal with CCME’s Switow platform.
FACT: We signed a contract with Apple’s authorized distributor, Eading Group, in December 2010. We encourage you, when in China, to buy an iPad from them.
I saw that too. Lets see the impact it has but really, are we suppose to believe he somehow got access to a SAT filing, when none of us despite trying to have got one, lol.
If he got one he would have led with that article instead of the bs one he did on the weekend.
Don't be disappointed if we don't get news from the company today either.
Remember MS is their advisor and CCME might have been advised to let institutions take care of the cheap prices and lock up the float.
Yeah he might legal savvy but he's not tech savvy leaving a trail like he did. Outright falsification of CCME documents. He's just a punk who will soon enough get his just reward.
Your right, the author is Kathy Block which means these PDF files were fabricated. If proven correct Muddy Waters is guilty of fraud.
Well that was quickly dealt with. Minor issue but dealt with nonetheless. NEXT!!