Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't know if its bad or good but it's just interesting that he mentions CCME after the management buyout discussions. It could be just non-related and purely coincidental.
Heard this discussion in today's CNBC strategy sessions with Peter Siris
http://video.cnbc.com/gallery/?video=3000031531
At around 7min you will hear him say there are 5 companies announcing management buyouts in next 1-2 weeks and then he utters the word "CCME". Watch & hear yourself
Slow action
It's kind of stalled at 8M so far...i thought we would have 20+M by now. What you expert traders deduce out of it? I have only sold 20% so far and did not like the action. Any one has kind suggestion on what to do? Sell out here or wait it for couple more days?
Thanks in advance.
What's your strategy when this supposed opening on pinks tomorrow? I plan to watch the fury & flurry of the action for first hour before doing anything. If the opening and actions are not of my likings then I plan to sell in multiple chunks based on the L2 trend. I also hear that Starr & DE Shah are not planning to sell their stakes (accounting approx 3.65M). If couple of more funds decides NOT to sell then the action can be very interesting. It can gets ultra interesting if some hedge funds (or GS) with deep pocket decide to play this game of buying from panicked longs early only later to sell them to shorts for a nice gain. If I see some PR announcement warranting further consideration then I plan to sell just 20% of my holding and wait it over.
Curious to know what's your strategy?
Chicken little DTT and some Sat evening musings
These are DTT's allegations as per 8K's, SEC docs……etc
"Prior to its resignation, DTT raised the following issues (some of which may be considered to be disagreements) encountered during the audit, including: issues related to the authenticity of bank statements; a loss of confidence in bank confirmation procedures carried out under circumstances which DTT believed to be suspicious; issues concerning the validity of certain advertising agents/customers and bus operators (including with respect to certain of the Company's top ten customers); concerns over possible undisclosed bank accounts and bank loans; information on file with the State Administration of Industry and Commerce as to certain subsidiaries appearing to be inconsistent with comparable financial information provided to DTT; the verification of the validity of a sampling of tax invoices issued in connection with certain large transactions; the verification of certain subsidiary tax payments with the local office of the State Administration of Taxation; the verification of salary payments made in cash directly to employee bank accounts; the verification of the production process for advertising programs; and the potential double counting of a certain number of buses. As a result, DTT had requested that the bank confirmation process be re-done at the banks' head office and that the issues described above be addressed by an independent forensic investigation. DTT stated in its resignation letter that, in its view, the Company was not in good faith willing to proceed with the course of action requested by DTT; however, the Company believes that it was working to address these items at the time of DTT’s resignation."
My thought is that if these many issues surrounding and why DTT waited till March 1st? Don't they know 10K is due in just few days later on March 15th? What did DTT realistically expect CME to do in those 10 days other than CME feeling total betrayal by it’s own auditor. DTT was supposed to be working on these audits as early as Dec 10 and they wait till March 1st to formally request? I think right here there is something fishy. DTT was bullied and as a weak auditor they took the most safest route by asking all those clarifications which they had not thought of before. After seeing DTT's big list of questions and realizing that it meant 10K delay probably for 2-3 months (remember forensic audit was requested) Cheng gets mad & turns to Jacky and instantly decides to fire him upon realizing he was totally clueless & incompetent CFO. Then later, Cheng suspects even Starr is somehow aiding the shorts (in the name of risk hedging) and demands Starr to come clean. This results in Dorothy's resignations and Starr files preemptive phony lawsuits before Cheng could tarnish their name or disclose the truth (Starr knew how dangerous Cheng could be after that unilateral halting decision he took) Now Cheng is left all by himself to take on these big shots but he doesn't know where to start. …so he takes some time for deep Zen meditation and regroups with Piper & PWC. He convinces these folks that there is no outright fraud other than serious misunderstanding, misinterpretations & bunch of honest mistakes & some stupid ones. Piper & PWC studies DTT claims & reviews Cheng's answers and realizes that DTT simply just couldn't take the heat & bailed. So they concludes that situation can be salvaged. That resulted in May 2nd press release. Btw, this is a fantastic opportunity for PWC to silently kill DTT for good in China and establish themselves as most sought after auditors. This is just the start and CME is yet to throw the counter punch. We all have taken ticket and seated (kind of forced with this halt to watch this drama unfolding. No matter what's going to unfold, don't be uptight instead remember to enjoy the show. No one could have asked for a better cast. Here we have non-english speaking little Chinese guy from a most profitable unknown little chinese company taking on legendary investor & wall street mafia called short sellers. Isn't it human nature to root for the little guy? It's only money and that money has gotten you to see this show. So quit worrying and learn to enjoy.
How does this fantasy sounds
Best slogan?
"Inheriting, Developing, Enthusiastic and Humanity", best slogan ever....Ha ha.
It indeed is very interesting choice of words here.
(OT) - Rebuttal like this can take CCME to 50+ in just 1 hour
Not invested in SCEI but read their CEO's rebuttal out of curiosity.
I think this "Alfred Little" story needs some serious air time in main street thereby exposing this huge vulture-culture breeding in wall street. This exposure is good thing for some China RTO's....in a way timing wouldn't have been better for CCME turnaround (if no fraud)
http://content.stockpr.com/sinocei/media...
I think many chines executives are regrouping to attack these so called Short seller/Hit pieces strategies and i won't be surprised to see some coordinated resistance from them. Now wouldn't that make SEC/NASDAQ go easy & stay neutral on judgement?
Ping Luo? Interesting read below. FWIW...
Poor Ping, her buy-rated China Ritar Power (CRTP), once a Salt Lake City based shell called Concept Capital (CTCY), was halted this week. If that wasn’t enough, presenting for everyone’s amazement, and enjoyment, the following website:
Dragonladyconsulting.com
Be sure to check out the About page too.
http://buyersstrike.wordpress.com/2011/04/20/ping-luo-dragonlady-ccme-sdth-hrbn-caas-crtp-etc/
Some more shota at Ping Luo here...
http://en.wordpress.com/tag/chinese-scams/
Unbelivable Ping Luo's coverages...
https://buyersstrike.wordpress.com/2011/03/20/ping-luo-what-flavor-was-your-kool-aid-ccme-sdth-hrbn-cnyd-etc/
Better take some screenshots now, for posterity!
Congratulations to commenter Fiona who was the first to find the Ping-related Easter Egg hidden in this post.
The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.
Unreal optimism in YMB reg CCME trading price
Some of those posters in YMB are dreaming that CCME price swing to touch $100 due to 2.7M FTD shares (if April optiona are added then probably in excess of 4-5M FTD's). I was thinking i could only get $1-$2 but now hoping $5-8
What's your take on price action when it opens?
Thanks for taking time to post Fernando. Appreciate it.
To Moderators - Why was my message deleted? Was something wrong with asking Where is Fernando? I think this level policing here is the reason why this board did not see the red flags and blindsided. Shrugg...
DTT letter was March 3rdand not Feb 3rd.
Herb Greenberg's comment today
Herb was dissing China RM going private today. Interesting points though. But looking at his recent comments and how things unfolded it seems that his comments/actions were meant to be pre-emptive (remember his CCME hoodwinking MW)....so does this means they know CCME makes going private announcement? Hmm...i think YES
Great Eye Sdonk.
I too believe that it's not all over maybe some value left.
Btw, i always wanted to ask u about that Tag line in your posts. Is that true? Did he really say that in LK interview?
DTT & CFO resigned
DJ China MediaExpress Holdings, Inc. Announces Resignation Of Independent Auditor And Chief Financial Officer >CCME
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
March 14, 2011 15:33 ET (19:33 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 03 33 PM EDT 03-14-11
@jjtruth
It may do these things
1) Eliminate shorts who were planning to exit on Friday, Monday & Tuesday just before the ER (some shorts had plans to go longer just before ER to make money both ways)
2) Avoid the insider leak reg the ER
3) Shield CCME from the scheduled hitpieces(one or two have been released on Friday & Sat). May be CCME knew about the impending hitpieces (Randy, Benzinga..etc) planned and thought they need to neutralize such attacks till 16th..
My very very subtle reasoning......
For a second, close your eyes and forget everything u heard about CCME so far.....
Everyone here is vividly imagining - means - no leak…......no clue…...nada…zip . So lets look at how this "No Leak" maintenance is really possible.
a) Lets say CCME is completely fraud like every shorts dreaming (for that matter every longs are worrying...including me) and the CEO/CFO/DT/Starr were dishonest crooks & somehow party to this massive fraud. To cover up such fraud for such long time needs some level of understanding & vows to secrecy at multiple levels (not just management.. mind you). Ok given that scenario....in a crisis of this magnitude usually on or the other crook immediately panics and spills or throws out the fraud details out there anonymously. So far nothing has happened other than some bloggers in US puking and repuking. What does that tell you?
b) Management has lots of internal respect (i'm not talking about us...share holders or US media here) among employees, partners, associates and they looks up to them because of their integrity, honorability, history and how they have conducted their business. No one usually leaks or gossip anything when such respect and relationship exists internally. They will hold out knowing this management team will come out swinging. Don't u think?
My reasoning for this post is I have been involved (at Mgmt level) in 2 private companies that went thru serious business integrity crisis and the employees, partners & associates reacted sharply differently solely based on their trust or distrust in management. Needless to say outsiders were getting plenty of info from a company where no one trusted the management.
All these reasoning may not matter in just few hours…since everyone was throwing out their imagination and so here is mine
FERNANDO
How are you? Can you say more on your thoughts and strataegies on CCME? I value your posts more than anyone else (i'm sure many more like me here) and just your thoughts would be valuable.
I have read you from GSL board.
Believe me i'm trying to relax but not over it yet.
Got to go and get Vodka & Guava juice for the night. Beer wont cut it.
Anyone heard from Fernando, WCTBILLS or other in-the-know longs?
I believe some of the ultra longs here talk to each others on the phone and i'm curious to know what they think. I value their opinion and very nervous with today's halt. Ant one care to comment?
Squeeze like this?
I would love a squeeze like this today @ LNG
http://finance.yahoo.com/q/bc?s=LNG+Basic+Chart&t=1d
In fact, i'm thinking one or 2 major squeeze days like this and then multiple 8-12% days in between...
"Why Isn't Wall Street in Jail?"
Good Rolling Stone article to catch up on a holiday...
http://www.rollingstone.com/politics/new...
If this link doesn't work just do search "Why Isn't Wall Street in Jail?" by Matt Taibbi.
DT to file 10K in 10days??
Shitron's unnecessary reference to this 10 days got my attention. Knowing that DT is very cautious and need more time to complete their audit, do you expect this shitron to cry foul next week saying "delayed..delayed" to match RegSho deadline agenda?
May be i'm giving too much credit to shorts here but that "10 days" insertion looks suspicious to me.
Why MW covered their short?
Think about it. If they have proof and convinced then why did they cover their short position (as stated at the bottom of their today's email). They are playing silly and hoping everyone can see thru it. Got a chunk @ 14.12
Who's selling Volume concern
Anyone wants to comment on volume & constant selling.
Volume - Who's selling
Im really baffled by such volume in last 2 days and wondering where it is coming from. I understand daytraders flipping for small gain but such huge volume can't be just daytrader alone. I was thinking if Darren A's client sold off on Friday wouldn't they be buying back today big. If that's happening and we still are @ 17 that means we are getting shorted at current level. Shorting now is stupid in my view. I'm not only confused slightly worried about these crooks ability.
Disc - Long and holding 7200 shares.
@bUrRpPPP - Watching that 50dma closely. It appears that someone with endless supply is sitting between $17.10 to 17.25. Until they lose that tight grip we will not go anywhere. I think it will run past 18 in the last hour and closing the day around 50dma.
Very interesting battle for sure.
@Winneguy1- Could u expand on your Feb 19 option comment. Don't understand option world very well and wants to know what u just said. Does it mean big money is betting BIG next week?
Thanks in advance