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God bless you, Rich. Through all the crap I always felt you were doing the best you could and that's all one can ask. I won't forget your gracious hospitality during my tour of SEVU. I hope you learned many positive lessons on your journey in this life.
Closed at the highs on strong volume, excellent day indeed. Parking lot surveillance might just be a huge niche market for Secureview that could put the company back on track with tens of millions in sales next year and a much, much higher stock price. I have bought as low as $.31 and still haven't sold a single share. The seller has gone away and things are turning around for SEVU and I must say it feels pretty darn good...
haha, it really is funny isn't it that we can predict now with quite certainty that there will be a large block trade near the close. I have no idea what is taking place but it seems like it must have something to do with NAIB as they're the only MM on the offer all day and just sit there filling orders @ .70.
All that buying and the stock never budged. Did you use level 2 when you placed these trades and if so was it NAIB filling your orders without any hesitation?
I don't think we've scared them too much yet, they've just lowered the offer to .695 with a bid of .69. The next offer is .72 so they're still hungry to sell more shares. Thanks for filing the report though and let's hope they get what's coming to them and soon!
FG, have you filed this complaint yet?
Glad to see that someone else besides FG has witnessed what I've been complaining about for well over 6 months now. Have you ever heard the shorts mention the details of this trading? No and they don't want to talk about it b/c it works in their favor. I get the feeling many make light of the role these MM's play in the determining the price of a relatively thinly traded BB stock because they don't have level 2 and can't see what's going on behind the scenes. The only way the longs can win in the short run is if these MM's are stopped by the authorities or if they are overwhelmed with volume from buyers. In the long run the longs strategy simply has to be to outlast the shorts by not giving up their shares at artificially low prices (determined by the MM's not an orderly market) as the company makes progress and new buyers nibble away at the ask. At some point the truth comes out and the market can appropriately value SEVU.
I was out most of the day but what's with the 30K share dump in the middle of the day and then another 30K right near the close? This late day block trade has been going on nearly everyday for weeks now. Could the MM's be recycling shares amongst themselves? I hope the NASD is investigating this, seems really fishy that both trades were 30K. Check out the day chart below to see what i'm talking about.
http://finance.yahoo.com/q?s=SEVU.OB&d=c&k=c4&t=1d
Another display of your backward thinking logic (actually this isn't even your analysis) that is entirely irrelevant at this juncture. Any investment book you can pull off the shelves will tell you that a company's valuation is based on future earnings per share growth.
Bill,
Do you mind telling us which broker you used to short SEVU stock?
thanks
Bashers Beware:
WASHINGTON--(BUSINESS WIRE)--May 2, 2001--An initial group of small cap companies consisting of Myrient Technologies (MYNT), Kanakaris Wireless (KKRS) and eConnect (ECNC), have joined together to form the advocacy and protection group called PROTECTIVE ACTION LEAGUE (PAL).
Headquartered in Washington DC, PAL will seek to advance the interests of its members by centralizing its approach to matters of common concern and implementing aggressive action.
PAL will unite Small-Cap companies in an aggressive front to combat Internet Bashers. PAL members will contribute monthly to a common fund that will retain seasoned litigant attorneys who will first determine if a PAL member has been slandered or whether other legally actionable messages have been transmitted.
Once this has been determined, PAL will then instruct highly adept cyber detectives to hunt down the identity of the basher and the bashers' employer. PAL will then aggressively litigate as the plaintiff against the basher, the chat room and the bashers' employer.
"PAL is just good insurance for bulletin board companies who are often at the mercy of well organized and well paid bashers. We consider a small monthly payment as an excellent investment for our company and for shareholder value," stated Thomas S. Hughes, Chairman and CEO of eConnect.
Only public companies will be able to utilize services of PAL. Public companies wishing to join PAL should contact: Protective@erols.com. Inquiries are confidential.
I got the same response. It said on the NASD website we would receive an acknowledgement within 2 business days i believe, let's hope they take a close look as NAIB has been quite active shorting again this week and as I type EBET is back on the ask shorting more @ .70 after a few days off. They are tag teaming the stock so there is no way it will rise while they're on it.
Bill Branum is short, of course he wants you to applaud you and have you continue your mission. I don't agree with what you're doing but it sounds like you honestly have convinced yourself you're doing the right thing. Time will tell for SEVU and your allegations of "pump and dump".
So basically you're a person full of hate and revenge for past grievances that may or may not be as serious as you allege. That is a very unhealthy role to take on and there's a good chance your mental and physical health will suffer much like your fathers from your self-imposed vendetta. I'll assume it's your intention to wreck McBride by bashing SEVU stock until it's worthless and thus rendering McBride insolvent. However, SEVU is not run by McBride and your rantings are falling on deaf ears. You have nothing to express concerning the new management team and this is the group of individuals that will take SEVU into the future and prove to investors whether SEVU stock holds value. This is the team that can right past mistakes by McBride. What you are incessantly complaining about is history. Since you do not work for the company anymore all evidence you provide is really quite subjective and outdated. The new team and SecureView will make or break the company and this will all be revealed in the next year or two. If you're so convinced that SEVU is a scam stock then what is the need to push so hard and produce so much negative energy for yourself, the truth will be revealed in time and you will either look like a genius or a pathetic loser. You've pleaded your case enough times so there will be no question of where you stood come judgment day.
Go back and look at old PR's put out by SEVU. They've all been through Business Wire and labeled "Press Release" w/the usual disclaimers and profile at the bottom. This one was not released by SEVU and therefore likely paid for by some outside source just to bring attention to the filing. I doubt a reuters reporter went out of their way to review SEVU's latest filing and just happened to stumble upon this news and decided to issue a PR. I don't think it's illegal but it's suspicious especially if short brokers put it out and acted on the news as it appears.
Ken, do you work for NAIB? I don't expect an answer b/c you haven't replied to anyone about why you're here but it seems like the only logical explanation.
FG, you're right, it appears the company didn't release this PR. Who did?
NAIB is merciless pushing this stock lower. I truly hope they are being watched through this whole episode.
The following link can be used to report tips to the nasd and i believe this may get more attention than the former link that was for customer complaints. http://www.nasdr.com/tips.html
I've resubmitted my complaint to the NASD with the following update:
My complaint concerns the market maker, North American Institutional Brokers (NAIB)
and Emerson Bennett & Associates (EBET) trading of the OTC BB company, SeaView Video
Technology (OTC BB: SEVU). Beginning 4/01, NAIB was the most aggressive market maker
on the ask for SEVU stock. Level 2 software showed NAIB sat on the low ask soaking
up all buys. Any time the bid was lowered or another market maker joined them at the
ask they promptly lowered the ask, driving the price of the stock down. This process
was in place from a trading high of approximately $1.75 the week of April 2 to $.81
by April 12 with very aggressive trading occuring Thursday April 12. NAIB was rarely
on the bid buying shares. After I contacted NAIB informing them of my complaint the
MM EBET has taken over the role as the sole MM on the ask shorting SEVU stock. Much
like NAIB they have been the only MM on the ask for most of the day the week of
April 23 soaking up many thousands of shares and not raising the ask and often
lowering it if another market maker joins them. They are not on the bid at all.
Also of note is the fact that both firms are located in Fort Lauderdale. I
understand short selling under NASD and SEC regulations is entirely legal, but given
the small float and likelihood of naked shorting taking place, I strongly encourage
the NASD to review this suspicious behavior (manipulation) on behalf of SEVU
stockholders adversely affected by such actions.
http://www.nasdr.com/tips.html
NAIB on the bid @ .72, EBET on the ask @ .74. 11K shares shorted so far, all buys at the ask. EBET continues to be the only MM on the ask.
Here's some info. i just discovered researching our new market maker who's actively shorting (EBET). EMERSON BENNETT & ASSOCIATES, INC, although I haven't gotten an address yet for them their phone number is the area code for Fort Lauderdale which just so happens to be the location of our friends at NAIB. Is it possible once I reported NAIB that they continued their shorting efforts through EBET? This is speculation but as I see this morning EBET is the lone MM on the ask as they have been nearly all week. I intend to file a complaint with the NASD very similar to my previous one. I encourage other longs to do the same to encourage an investigation. There is nothing wrong with shorting but if they are naked then they're in violation of the rules and could be fined and/or forced to cover.
A@P's brilliant analysis proven wrong a day after he issues his short report as Homestore posts profit of $.04/share:
from insidetruth.com:
CONCLUSION
Because Homestore.com’s revenue model is based solely on advertising and “subscriber” revenues, the company, in all likelihood, will never make a profit. Even if it does, it is likely to be insignificant and would be but a tiny fraction of its current $3.1 billion market valuation. Buyer beware!
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui...
EBET has sold (short?) 18,500 shares bought at the offer of .75 in the past hour and won't budge. FG do you know anything of this MM?
NAIB on the bid again @ .73, EBET going short (for past 2 days) @ .77, buyers are coming in gradually and buying at the offer in decent size blocks. Stock looks to go higher as shorts start covering in my opinion.
NAIB on the bid this morning, at least for the open. Is this your broker, Bill Branum? Oh, I forgot now that you're a basher and there are millions of shares open for selling you won't be covering for a long time right?
Have you ever considered that there may be some insiders in the stock for the long run and have no intentions of selling their shares b/c they believe in the products?
bibbizz i can't see that info and besides it's misleading. they can offer 500 shares but sit there on the ask and soak up 20K if they want.
NAIB now on the bid, hmmm. Trying to buy back? No big selloff?
Looks like my complaint to the NASD about NAIB shorting (which I forwarded to NAIB) has worked, yesterday morning pre-market they removed themselves from the ask and have yet to return. Maybe I should make a similar post to MGSG and AMPM who are parked @ $.80 shorting heavily. Print do you work for either of these firms?
Didn't you say half a dozen posts ago that you were done posting on ihub? What happened did your new boss at the boiler brokerage threaten to fire you if you didn't keep bashing 24/7? How many naked shares do they have to cover?
Happy posting and no I don't expect a response from you to any of my questions (at least not an honest reponse).
What a freaking joke, Bill, and i'm not referring to your price target which we may see some day but your true colors which are really shining through now. Do you sleep well at night making statements like this? You're entire experience with SEVU and your most recent actions will produce a lot of negative karma for you.
Just remember longs if you sell your shares it's the pathetic, conniving, misleading shorts who are eagerly awaiting to buy them. The company had problems, the stock price reflects this, lets give the new management a chance. The future is SecureView and it is selling.
Yeah, we've got problems but so do the biggest companies in the world.
http://dailynews.yahoo.com/h/nm/20010416/tc/cisco_dc_5.html
The market cap of SEVU is now just under $12 million. Is this a fair valuation for a company that has lied to its investors but has a new technology that appears to be selling very well if they can only build enough product to fill orders? Most start-ups seeking VC funding with nothing more than an idea get valued higher than this. Plus the man who was in charge for erroneous and forward looking statements has been replaced by seemingly competent management looking to set things right. I posted a while back that I had a similar experience with Digital Lightwave (DIGL) when they restated earnings and revenue b/c they were booking revenues before product shipped and the stock went from 25 to 2. It took over a year to gain any respect again but the point is they replaced management and worked hard to sell a product that was in demand. Wall Street forgot about their history and ran the stock up over $100 and now around $22, still a pretty fantastic return from $2. I absolutely refuse to sell shares at these prices and turn them over to the shorts. There are still many, many exciting opportunities for SecureView that can turn this company around, it will take time but it sure doesn't seem like anything else in this market is all that appealing. Besides, going from $.75 to $5 even if it takes a couple years is a damn good return.
Longs need to understand that bear raids by short sellers are temporary and the rapid buying that occurs when the stock turns around with short covering can move the price up very quickly (we witnessed this at the end of December). The shorts CANNOT get out without a big up move if longs don't sell to them. They can try to wait for long periods to cover but this is more favorable to longs because as they wait there is more likelihood of good news coming from the company. They can try to short more and hold it down each PR that brings in more buyers but again this is a precarious strategy. Plus the longer they wait the more chances the NASD and SEC may catch on to their manipulation and really cause them problems. Anything can happen Monday so the key is not to panic and dump shares at these prices -- you will be giving them away to the crooks who caused you so much stress in the first place. If the 10K is bad then it's certainly up to each individual to determine if they no longer want to own their shares, just remember who will be buying them at firesale prices and they will gladly take them off your hands. Also, remember the 10K is representing historical numbers. We are living in the present and valuing the company on its future earnings potential. This is the only thing that matters in the long run.
I'm aware of that, thanks. EOM
I have filed the following report with the NASD from the link posted by FG. I encourage other longs to do the same as the more complaints they receive the more likely a prompt investigation may occur:
My complaint concerns the market maker, North American Institutional Brokers (NAIB),
trading of the OTC Bulletin Board company, SeaView Video Technology (OTC BB: SEVU).
Beginning in April 2001, NAIB has become the most active and aggressive market maker
on the ask (offer) for SEVU stock. Clearly visible on Level 2 software NAIB for the
past couple weeks has sat on the low ask soaking up all trades at the offer. Any
time the bid is lowered or another market maker joins them at the ask they promptly
lower the ask, driving the price of the stock down. This process has been in place
from a trading high of approximately $1.75 last week to $.81 this week with very
aggressive trading occuring Friday April 13. NAIB is rarely on the bid buying
shares so it is evident the market maker is not conducting an orderly market. I
understand short selling under NASD and SEC regulations is entirely legal, but
strongly encourage the NASD to review this suspicious behavior on behalf of SEVU
stockholders adversely affected by such actions.
I confirm 650K block right at the close. Something indeed is fishy with the trading the past couple weeks w/NAIB shorting like mad and then this suspicious block. One explanation is one of the large holders of the stock was desperate to get out for whatever reason and negotiated a deal with one of these market makers to sell in lump sum the shares so the MM hammered the stock down out of their own self interest to buy the block at firesale prices. This is pure speculation. I intend to file a complaint with the NASD and the SEC tomorrow and will see if anything further comes to light in the meantime. I suspect there are some highly illegal tactics taking place. All my shares are in the Roth and I can wait forever for this to get straightened out. FG you got any ideas?
NAIB just shorted 11,300 shares in separate blocks before they raised the bid from 1.05 to 1.07, this is why it's so hard for the stock to rise. If they keep creating shares out of thin air then they can hold it down indefinitely or until huge volume overwhelms them.
Maybe we both should report it showing strength in numbers. Do you have the link to the SEC complaint dept. or wherever such a complaint should be filed?
thanks
NAIB is shorting like mad trying to keep the price down. I just don't understand the logic of shorting @ $1.02. Time will tell...