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Cheng is a former Comm. Party bureaucrat "my way or the highway" type. Like WCTBills said over dinner he didn't seem to have a clue regarding the financial markets. Combined with being in shock from having his equity vaporized. I haven't sold a share. I concur with Amy there is no point in making a move until the cards are on the table. I'll trust Ping over Block any day. "When you've got nothing, you've got nothing left lose." Bob Dylan. Andrew I really like you but decisions based on emotion are very risky...
Carson Block is Muddy Waters the shortsell so-called "Analyst" Blogger that spread unsubstantiated FUD that started this debacle along with some other shortsell blogs
Pathetic lack of protection for retail investors from SEC...
WCTBills Blog Update
June 6th, 2011 Muddy Water Gets Tangled With Paulson & Co
WCTBills
Block Interview on Sino-Forest Video
Short Seller Block Takes On Paulson, Greenberg in China
Short Seller Block Takes On Paulson, Greenberg in China
Good call Drex!
"{In Delaware, Section 220 contemplates that corporations will promptly provide the requested information to stockholders and Delaware Courts will quickly resolve legal challenges. Complying with the requirements of Section 220, on May 2, 2011 Starr initiated its demand by serving a letter on CCME that stated under oath the purpose of the requested inspection—namely to investigate possible corporate mismanagement or wrongdoing by the present and/or former officers and directors of CCME.
By law, CCME had five (5) days to respond before Starr could seek to compel the inspection by way of a summary proceeding in the Delaware Court of Chancery.
CCME did not respond within the five day period and Starr filed its books and records action on May 13, 2011.
Based on prior actions, the proceeding in the Court of Chancery will likely be resolved in a matter of weeks to a couple months."
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Found this posted on YMB by ccmeatemealive
Nasdaq ’Threshold’ Securities for May 20
China MediaExpress Holdings, Inc.
If it's earning the stated $3.00, let's just say it's severely undervalued. Even Muddy said if the audit is clean it should go above $20.00.
Have not sold a share... I'll wait, I agree with Amy.
Chi-Coms much like CIA & KGB when it comes to info
Why we may never really know the truth
The lows are setting up to be in the green...
WTF? Bid 2.21 X0 Ask 2.23 X0
Kitchen's getting hot! Tssss!!!
The money is supposed to be in escrow in the U.S., from what I remember.
I doubt many shorts are gonna want to hold over the weekend. $3.25 by the end of the day. What say you?
Higher highs, higher lows. Someone's working this. Setting up for ???
The risk/reward is the key. By mid-day the shorts should be competing for shares with speculators playing the bounce, and those that know if half the money ($3.00) is real it's a steal. Greed trumps fear...
Where is the panic selling? A lot of people are thinking like Amy. At this level the risk/reward is really very good... Yet my opinion. Make your own decisions.
Finally, a warrior! Stocks go up more than this went down every day.
Oh, I forgot... The World is ending Saturday...
Finally, a voice of reason! I'm with you Amy. Like Eyedoc used to say: "Cowards don't live in castles."
Sure there is that... But still?
I'm with you it doesn't add up. Quiet acquisition in small lots to not drive the price up going on by someone.
If they are frauds then they would sell to get what they can. There hasn't been enough volume to account for that.
I think some insiders might be scooping this up before announcement. Or am I delusional?
That's my point. It's like the calm before the storm. Still 2/3 of the stock is untraded.
The volume is so light any news could really move the needle.
All talk. But why would they spend so much on legal? If fraud, they would just go dark...
As far as we know.
Etrade is Real Time.
Yeah thanks Value!
So where is the volume? Only 590,174 traded so far today. Yesterday's volume doesn't account for the large holders and shorts. I'm still all in, haven't sold a share yet... What is the point of taking such a huge loss, based on emotion? But that is just me Any news should bring volatility.
A lot of people have not even realized it's trading again. This is too creepy...
So I'm glued to the computer for months, I don't pay attention for a day and it starts trading with no warning? I thought we would get a day or two advance notice?
Perhaps they have their own DD and realize the value and picked up discounted shares. Perhaps the institutions may have known about the FUD before it happened. It is possible they know way more than anyone would guess...
Someone is without any scruples whatsoever, probably Dumbofort.
Of course, but it clearly painted a picture of a very possible scenario.
I'm with you Chris, if it wasn't for DTT my position would have been 1/5th of what it is, at the very most. I'm sure a lot of people here gained confidence in CCME because of DTT, and increased their positions - before we found out that DTT was bailing out!
"On a side note...I still hope someone seriously burns DTT. I for one built my investment decision with their presence as a cornerstone."
I agree Andrew... Nice hypothetical scenario Spinco!