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"interesting how one post this a.m. may have created a rush to sell on the part of some. "
And doubly interesting is the fact that the post came after the stock looked like it was setting up for a bounce, having closed green yesterday in an overall bad market.
Meant to say "no interest" in the stock
That drop this morning was on very very little volume, then we saw a little covering bringing it back up.
I bought a few yesterday based on my belief that it is not a total fraud and when the forensic audit is complete we will hear some relative good news.
I will add if it gets to $1.00
Depressing stock performance to date but if you are looking in the China space for a 10 bagger, it's as good as any of them.
There seems to be interest in this stock at all..... what an implosion
Maybe we will see some covering at $1.00
can u elaborate on that "hmmmmm". Are u thinking of taking a swing?
Yes there was a lot of discussion at the beginning of May that if Piper were still on board by June 1st it would be a good sign.
A good sign that a strong defense will come in the end... too late for most of us, including myself, but I am thinking this could be a safer entry for a trade now.
Yong news has me changing my tune a bit here, if there is a real business behind the CCME fraud, which most think there is, even if it is ony 50% of what was represented, then there is value here.
The Yong news opens up the space for exploration.
Who is to say that after the PWC forensic audit and the extent of the fraud is established that we won't get some offers for the actual business. Hell Greenberg might buy the company out. Take out the management and run it himself. No one knows how this will end yet.
Looks like the ask has moved off .04 back to .045, interestingly the ask in for 200K shares, which is a very big ask for this stock, is someone trying to look scary or what?
Someone (other than me lol) should step up and hit that just to see what happens.
Bid still at .039
I have a gut feeling something is about to happen with this stock.
Interesting thread on Yahoo board "COHCWL"
A glimmer of hope that some financials are forth coming
Etrade currently showing bid 1.56 ask 1.63 and very little volume just over 40K
what's up with the price display here on Ihub, has it at .0001
You are a brave man.
I am trying to get my head around the idea of putting some cash back into this but when I think too long about it I start to get a cold icy feeling in my spine and then my limbs start shaking.
I think I may wait for some good news (if we ever get any) and then get in at a higher but safer price.
As for your caretaker services, they are badly need on the Jada board which is piled high with bodies. Friday's close of .04 gives it a market cap of just 3 million and makes it a bigger percentage loser for me than CCME... I did not think it possible to outdo my CCME performance but sometimes I surprise even myself.
Better days ahead hopefully
.048 This is depressing!
So then I suppose the next obvious question is why are you here?
Timothy you're full of bull-puckey(whatever that is) I have never seen a stock with such an overhang of warrants go anywhere until that overhang was cleared. Those 40 cent warrants will be a drag for a long time.
How was that?
My opinion would be that day traders, Momentum traders and swing traders probably made up most of that volume. No way of proving it though. Maybe the more serious traders might chime in on whether the volume is enough to cover the short position?
Is the volume printed on the pink sheets reliable?
Could there be more volume that does not hit the tape? Does anyone have enough experience with pink sheets stocks to answer this with certainty.
I do believe we have not seen enough volume to allow shorts to cover significantly, but my question is are we sure we are seeing all the volume.
I would hate to get in looking for a short covering bounce only to learn afterwards that they had exited through some back door that we don't know of here in pink sheet land.
The fact is the shorts have been right all along and they still do not feel the need to cover en masse. What does that tell us?
The argument that Piper and PWC staying on longer means less chance of fraud reminds me a lot of the argument that "it's too late in the audit process for Deloitte to have major issues".
They are lawyers after all, a more plausible argument might be that they will milk it for very large fees for as long as they can regardless of how much fraud has taken place. No loss to their reputation if they spend two months auditing the entire fraud down to the last penny.
As for news tomorrow ...... when we did not get it last week as we went pink I see no reason to do it now..... I believe the argument that lawyers will have management refrain form saying anything until the audit is over is sound..
Shorts finally doing some covering today
But with the pinks they appear to be able to print trades from any time in the day at the close
At least it is starting to trade both up and down instead of just down. Perhaps we establish a trading range.
I think the overall trend will be a grind down to $1.00 until we hear from the company which is not likely to happen until the forensic audit is over.
Value1008 mentioned it on the CCME board which prompted me to take a look.
Just started a position today ...
Fresh from 80% losses in my most recent investment I hope I have not jinxed you all.
I Bought at .666
What are the chances that the reason for no filing is that they hired a new Auditor who is playing catch up?
I havn't sold a single share.
I will either have spectacular gains from here or spectacular tax write offs. (Actually I already have spectacular tax write off's from CCME)
I am really unhappy about this nickle level but I have not given up hope on getting a filing at some stage.
I don't think we will hear form the company until the forensic audit is complete. Since they havn't bothered to defend it yesterday and today, there is no good reason to believe they will do so Monday.
Even at these prices the shorts are hardly bothering to cover, very low volume. Their confidence is hard to take.
It looks like the chances of a short squeeze are diminishing, we probably have not seen the institutional selling kick into gear yet, as they were as blindsided by the pink opening as the rest of us.
I think we will see a slow grind lower with small bounces until the forensic audit is over. Pending that we may get a large bounce. But no way am I be confident of it.
I went in big after the Jacky insider purchase at $15.00 and I am really feeling the pain here.
Exited 50% today but will hold the remaining 50% thru to the end.\
I am very disappointed with the Auditors.
Also the way this slithered over to the pinksheets with no notice, is a complete disgrace to all concerned, both the company and the Nasdaq.
2.00 wow ..... what a disaster
Won't let me buy options.....
"CCME Jan 21 '12 $3 Call at a limit price of $1.1 was rejected Reason: UBS BOT CALL REJECT : R 190:Option Closing Only. See order # 916 for details.
What time do the forced buy ins start? Anyone?
Etrade showing bid up to 4.25
But Time and sales seems to be the best way see where it is trading at rather than bid/ask.
Now what time does the forced buying start at?
Good luck to everyone
I was thinking that if it does not get a fabulous bounce to trade them into then holding the calls for later dates would be a good investment as you have a few quarters for CCME to right the ship.
Maybe Septembem 2011 rather than Jan 2012....
To increase the volume of shares I control via options
My plan would be to swap 50% of my shares for options and catch the bounce via the options... only I would have more of them
If it trades on pinks or OTC with no news.
I am thinking of exiting 50% of my position at market on the open and then re-entering the proceeds into Jan 2012 in the money calls, trying to get those before the bounce.
I don;t think anyone has a clue how it will trade, there is no real precedence, for such a high short position, in such spooky circumstances.
Also those that are predicting really low prices might do well to recall that Citrons original hit piece had a price target of $5.48
Psychologically, I believe many longs have come to terms with large losses here and thus the urgency of getting out has diminished over the time of the halt, while shorts will be eager to lock in profits before what could be an unprecedented bounce erases those profits.
If it does run I would not take it as a given that a filing is immanent. Too much manipulation in the past to trust a run without seeing the actual filing.
If the company turns out to be genuine and we get a 10K filing in mid May, I can see it getting back to the .20's based on that filing. Assuming the 10K has some good news.
But I have to admit I am not happy, the share price, which is all we have to go on, seems to indicate it is virtually worthless. I mean seriously! $4 million market cap for a jade mine. It's a joke.
I am reserving judgement until mid May to see if we get a filing but mentally preparing myself for the fact that this could be a total scam.
Thank You Ben and also a thankyou to your lady friend
We have heard so little from the company that just to know the phone is being picked up is a plus.
Even an NT 10K filing could cause a rally here
It would show that there still is life
There is no 'smoking gun' or 'bloody glove' that we know of. We still don't know what happened.
We havn't heard from the company yet. The forensic audit will take time. It could reveal minor or major infractions but we really don't know. It could just reveal weak internal control that enabled Jacky to do something unethical, maybe he took a TV screen lol, we really don;t know.
what happened to innocent until proven guilty....
Glad to have doubled down into Jada, rather than adding to CCME. Although I am over exposed in both and feeling the pain
Bottom line is that no one has a clue what is going on with these companies.
I am hoping Jada comes through with a report, even if it's unaudited.
I am hoping they release unaudited financials along with notice that they have hired a proper auditor and that the 10K will be late due to new auditor catching up.
I am particularly interested in seeing how the AR is looking.
If revenues are even flat rather than declining we may finally see some upside.
I would be ecstatic if we got word of verticle integration plans but not really expecting it.