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Or is holding on strong considering CNTO suspension...
Disclosure - short
Nice call on the $3.00 bottom. I will be watching for $10.00...
My guess is that the momentum players will move back into FSPM. Watch twitter for posts by @modern_rock and @investorsLive. When these traders show up, they bring a lot of $$$ and followers and can really make the price move.
Ok, I'm no longer short, I'm boxed. Let her rip! To da moon! Go FSPM!
Go FSPM! I see $10 by Friday, $100 by March and $500 by the summer.
FSPM is the best company in the world!
There are usually few if any shares of overvalued OTC stocks available to short at any given time. The best source for smaller retail traders is Interactive Brokers. They have a public site which tells you the number of shares available for shorting.
https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2FSearchShortableStocks.php%3Fcntry%3Dusa%26amp%3Btag%3DUnited%252520States%26amp%3Bib_entity%3Dllc%26amp%3Bln%3D
If you search on a ticker and nothing shows up, then they have no shares available. They have no shares of FSPM available to short right now.
Insiders holding large blocks of free trading shares can manipulate the amount of shares available to short, and can trigger short squeezes by making shares available, and then pulling them, forcing the shorts to cover.
This short sale data is totally meaningless. It includes transactions by Market Makers where the short position was held as part of the process of completing a transaction - sometimes under a second.
This data is most often quoted by stock promoters who are trying to blame short sellers for a price decline, when the decline is in fact being caused by insiders dumping shares.
See www.goodetrades.com/2012/09/lying-stock-promoters-bullexchange-com-the-finra-short-reports/ for a full explanation.
Real short interest data is published bi-weekly. The latest short interest data available for FSPM shows that there were 208,338 shares in short positions at the end of the trading day on January 31. This data is based on mandatory brokerage reporting to FINRA.
See http://www.otcmarkets.com/stock/FSPM/short-sales
No, when I look at the daily charts, the trend is still down.
I have no idea what the price is going to do. I just make sure that my position is in the same direction as the trend on the daily charts. I will cover when a closing price on the daily charts tells me the down trend is over.
I use Interactive Brokers to short over-valued penny stocks.
I agree that FSPM is a "real business" with potential, but the price per share and market cap are seriously overvalued, even assuming a surge in revenues.
One of my main issues with FSPM is that their business is very easily replicated, so profitability is capped. As a grower of outdoor and indoor vegetables, I see very limited application of the pods in any area other than growing of controlled substances. Even then, it is a very expensive approach compared to current successful growing methods.
Disclosure - short.
You work for the SEC? I hope so! ; )
Well, I actually take the time to go through the financials in the quarterly reports posted by the company. YTD revenue for 2013 is BELOW revenue for same period in 2012.
It all be interesting to see the annual report. Year to date revenue for 2013 for the first three quarters was lagging the 2012 results. Not really my idea of "growth".
Disclosure - short.
Looks like traders are "selling the news".
I am looking forward to you calling today's bottom.
Disclosure - still short.
Can anyone explain the reason why the headline says "completes sale" and the main body talks about "anticipated order size"? Sounds like the actual value of the sale is far below the anticipated size.
Disclosure - short.
CNTO halted. Will resume trading in two weeks on the grey market. Should reopen down 75%. Now all I have to do is wait two weeks to cover my short position. Tough for longs - learn how to identify fraudulently promoted stocks and save yourself some $$$$.
Could you clarify your advice as to exactly when I should cover my short position today. Any insight you may have as to how much lower the price is going to go would be appreciated...
General OTC pot stock hype, momentum day traders and a small element of short squeeze (there are not a lot of shorts to squeeze)
My advice is to have a plan BEFORE you enter a position. If you have no plan, exit the position now.
If you follow Max's plan, are you aware that you may be a bag holder one day?
Did you ever consider that Fusion Pharms business plan can be easily replicated. An established company with cash, existing manufacturing facilities, distribution and marketing could undercut Fusion Pharm and put them out of business.
Will you be happy with shares valued at less than one cent with no hope of ever moving up in price?
This scenario may never happen, but could happen. You need to know when to cut your losses.
I am willing to cover my short position when the price action tells me I am wrong, you should be willing to cut your losses too. You can always buy back in when the price trend starts heading back up.
Nice catch!
Price is heading back down towards a reasonable level, even based on optimistic business scenarios.
Momentum traders have moved on. Small number of shorts moving in - borrows are hard to find.
I had no idea how this would turn out so I covered my short before the close on the payment date and re-shorted next morning. I did not want to risk being caught in something I did not understand.
Kudos to the traders working for the insiders on this promotion. Awesome control of the price. You will now get some serious dip buying when it comes time for the dump.
Disclosure - short.
I was short pump and dump scam MDDD when it was suspended by the SEC and moved to the greys mid December. It dumped, then climbed above the halt price, and is still trading around the halt level. MDBX will not drop to zero on an SEC suspension.
How many times do I have to tell you that MDBX is NOT going to zero. All publically traded Companies have an intrinsic fundamental value due to their potential use as a vehicle for insider enrichment. MDBX may go down to 10 cents, but not zero.
Disclosure - short.
Who do you think will "fall" out of the helicopter?
Interestingly, there was a small town on the Canadian prairies where the local financial advisor got a number of clients into Bre-x at the beginning and got them out just before the top before the fraud was discovered. The town had a number of "Bre-x Millionnaires"
I can only hope that this happened to some naive but lucky MDBX investors.
There's no such thing as bad advertising! MDBX featured in VEND pump and dump hard mailer.
https://twitter.com/buyersstrike/status/431197806661885952
Maybe some bad news leaked...
Thanks, will check them out. Maybe I can pick up some tips for my own controlled environment growing!
Is it just me, or does no one else think it is unusual that there is not one single photograph on the Fusion Pharm site that shows food being grown inside a Pharma Pod?
Where are the technical specifications or even a brochure for the product they purport to be selling?
As someone who grows food both indoors and out, this concept looks like something dreamed up by a marketing department who has never set foot in a food production site.
The entire website seems to be aimed at selling stock, not product!
Disclosure - short.
I realize that you are being paid to promote CNTO, but I am curious, are you a real person, or are you postings automatically generated?
As always, trade the price action, not the hype! Read the SEC filings so that you can put the hype in context.
I will cover my short position when the price action tells me to.
Experienced and profitable day traders have switched from being long biased to short biased on FSPM. Search twitter for $FSPM. Game over for longs, IMO.
Disclosure - short for the long ride down
Epic battle for red/green!
The dividend consists of restricted shares. As a result, you will, I believe, be getting paper share certificates complete with a Restricted legend. The share certificates need to be produced and then mailed out.
As issuing a dividend In restricted shares is not something a company that respects it's shareholders would do, there are not a lot of precedents for how this process works. You could always call your broker.
Check the GRLT board to see what happened when that scam company issued a restricted share dividend in September last year.
I think that there is potential for significant price confusion tomorrow morning at the open. I agree that any movement in price is likely to be downwards.
I suggested that longs should exit before the close as there is a good chance that the opening price will be lower. You would have to take into account that you are now the proud owner of a 100% dividend consisting of restricted shares that can not be sold for 12 months, after which you will have to go through the process of getting the legends removed from your certs. If you believe that the current pps reflects the fundamental value on MDBX you should not be worried!
I suggested that shorts should exit before the close because I believe (but may be wrong) that anyone who held a short position at the close today now has an obligation to deliver (when you close your position) the dividend to the party that provided the borrow. I have no clue how a short could meet this obligation. There is a risk that a broker would insist that the dividend be covered at the same value of unrestricted shares. I covered my short before the close so I don't have to face this situation. I doubt that any broker could give a clear answer on the obligation of someone who was short at the close today (I.e at the the payment date) and tries to cover in the future.
So I can truthfully say GLTA!
There are some valid reasons why both shorts AND longs would want to exit their positions before the close!
Attention evil shorts. Pay date for dividend is today! If you have figured out how to cover your restricted stock short obligation that you may have once the dividend is effective (end of trading day today?) please educate me! Disclosure - no position.
There are some very sophisticated momentum traders who have moved into pot stocks in a big way in the last few weeks. They help create the momentum, and will usually get out before the top. The inexperienced traders will be left holding the bag. When Superman, his followers, and others like them exit FSPM, watch out below! At that point, the experienced short biased traders will move in and clean up.
Do you really think that FSPM has a business model that is new to the multi- billion dollar greenhouse sector of agriculture? Do you really think they are doing something that can't be replicated by established, profitable growers that already have thousands of acres of profitable, protected growing facilities, and the deep pockets of big agro?
This is a pure hype momentum play.
Woo-hoo! My GTC order at IB to short CNTO finally came through with 30 shares! (only a couple of thousand left to fill) Anyone else getting fills at IB?