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The real problem -
They have an infinite number of naked short shares (illegal) but we don't have an infinite number of long cash dollars (legal). Seems this is not fair but I'm not too smart.
Joe, just get the moderators to close CGS and CCME here at 09:20 and post a single message to NOT post on Yahoo and delete all other post prior to 09:20 the next day. Almost all would comply as they rarely post their anyway.
Don't think the MMs rule. From watching the action, the shorts don't want it go up. They see no real strength on the up side and there is an infinite supply of naked shorts (thanks to out ever dilligent SEC). Wish I had an infinite supply of cash. That apparent insttutional action from a few days ago has gone. Now it's just retail versus naked shorts. The spread was too low for this to be daytrader action. Also, seems like a setup for someting they think will be big. Can't think of anything thay haven't tried.
Only momentary but with 7000 at the bid. looked like a bear attack.
Here we go again -
Yes stop losses, but from time to time I need to pee and these things can hit fast as you know. And some of us don't sit here 100% of the time. I play softball twice weekly and need those stop losses for my sanity.
A feel good factor for me -
is that our experienced traders that correspond with Jacky are providing advice and it is usually considered. After all, buyback and dividend advice was followed. Don't mean to imply that the company needs advice, but there are factors in the US markets that are not obvious to a Chinese company newly traded on NASDQ. I'm sure the short attacks were an eyeopener to CCME. So, i'm sure advice is being provided and a valid plan forward has been developed. There are lots of company 'zinger PRs' that can be released. That makes me, for one, feel good.
Light volume also gives leverage to a smaller number of shorting shares.
"I'm at a loss for words. With so much money at stake... what will they do to protect such a huge position?"
WHAT CAN THEY DO? I'M AT A LOSS OVER THAT.
No doubt - Buys in the thousands not hundreds.
Maybe someone is using their buyback money. I know, I know, that's illegal and the 'eagle-eyed' SEC will surely catch you as they do with naked short sellers, Ponzi scheme dealers, etc., etc. Don't want to mess with them.
All good possibilities for the shorts, but I'm waiting for our inside mole to report the current strategy.
Friday Post Market
Why shouldn't it hold up with a 2010 cash adjusted PE of 3?
(14.13 - ($200M/40M shares))/~ $3.00 = ~3PE
Interesting recent dual listing article -
http://www.asiaone.com/News/The%2BBusiness%2BTimes/Story/A1Story20100120-193246.html
Shares availabilt is the problem. Sufficient shares are required and can come from insiders or new issue. Seems in our case, sufficient shares are available from insiders at least after the 7M issue.
Let's see, institutions, plus insiders, plus retail investors, (includes legally bowwowed short shares), plus naked shorts, that's 120% of the shares outststanding.
Assuming we just plod along here to the end, what is in store next week? It's a long time to Mar. 15. It looks like with the investment conferences cancelled that there is no rush to get the 10k out. Also, it looks like the company is satisfied to not put anything out prior to the 10K especially since hit pieces now won't work. So, assuming that there is still lots of shorts hanging, likely more bear runs after the long weekend. I think institutions will just wait until before the 10K to load up. Any thoughts?
Ambitious plans, but they have the money.
Seems to have lost their coordination. Where is the coordinated short attack with the release of the article?
Citron article not yet posted in Yahoo Headlines. Maybe due to their reputation, it won't be. It has shown up on their boards however.
Rules only good if enforced.
Report on message boards but not Yahoo Headlines yet.
They always announce when they bring a case, but you have to search to find that they dropped one.
Just maybe SA has now developed a posting decision process.
Agree, a good hit piece. Can you, you, think of a new one?
Hit pieces won't affect failure to deliver.
They can't manipulate the RegSho to exit it this time, can they? Serious question.
Go green. Seems shorts lost their shorts today.
They were setting up for a run but hit a wall of money. Also wasted a lot of ammo. Of course naked short shares are infinite.
Is there a 'Chinese' wall?
Ok, stopped us last time (12.51), let's try this again.
Someone taking all the naked 12.51s possible.
Careful, I be one.
I always like this in the bio:
"Chimin, aka Stanley, collected a Ph.D in Engineering from SUNY Buffalo and an MBA from Chicago Booth Business School. My full time job is reading, supported by my managing money for family and friends."
Nice job for a PHD in Engineering.
Does SA have any posting review procedures?
Let's review this -
Through Friday to protect their options, the price is going to be kept right here or further down. Probability of more bear attacks, 80%+. Likely two more at least. Only support will be those picking up more cheaply but insttutions riding this out until next week. Is that about it?
Great - If as he states, they don't have an exclusive deal (not true) but that makes their performance and ability to keep competition down even better than an exclusive 'sweetheart' deal.
It's only a blog, the PM is still going up, and it's not posted on headlines on Yahoo.
Don't think so. Naked shorts are infinite.
They hit it as hard as they could at the end with little success.
Recall, Starr market study years ago said > 80,000 potential busses.