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Not entirely true. Under Reg SHO, brokers have 5 days to cover a trade. Then any outstanding shortages are reported on the SHO list once the 10,000 share threshold is reached. AURC has been on the SHO list for more than 70 days. That means there is a strong possibility that there are uncovered short positions from pps levels more than 2 months back. Though illegal, if no one enforces regulations then in effect there are no regulations. IMHO
Yes. That's exactly how I understand it. However, naked short selling comes under the RICO act since trades are executed here in the US on US exchanges and therefore all short selling requires an effort to seek shares to cover in a timely manner. The conspiracy portion of the RICO Act comes into play when Canadian shorts, where it is legal, work with US brokers, for whom it is illegal. Canadian law does not allow for the breaking of American laws in the execution of trades. Canada has its own statutes that specify such. The real problem is the lack of enforcement on the American side through the SEC, which then fails to inform Canadian authorities that the trades are in violation of US trading practices. Therefore in practice, net result is short selling of American stocks from Canada is illegal, though NSS is legal there.
Yep, tomorrow is the first day of the rest of the week. I'm a cup-half-full kinda guy. Got more and ready to get more. I hope that interim CEO does not take the bait with a hasty PR. Shorty is laying in wait with bats and gunny sacks for exactly that kind of response. The next PR needs to be very thoughtfully written and considered and redrafted and considered again. IMHO
I think that they shout in caps because they are hard of reading.
Messing around today, I found that if I enter a buy a fraction over bid, then wait 5 minutes and change my bid to the ask, I got instantly filled. However it was accompanied by a mirror buy at my original bid. Hmmm. If I tried to buy at the ask, even when the price dipped below my ask, I didn't get filled. Hmmm. Another reason to hate MMs and Microsoft. OK, Microsoft had nothinbg to do with it, but hating anything is another reason to hate MSFT. Bags are full, but room for more if we dip again.
No. That's not true. Cannot legally short from Canada. To do so requires the complicity of a US-based brockerage. I beleive that such arrangements come under the RICO act here in the US, which would make the conspiracy part of the act illegal in Canada. In fact, there was a joint Canadian-USA shorting operation bust a few years back. An entire Canadian brockerage firm went down. I don't remember the details; I would have to look it up. That said, because Canada amounts to offshore trading, enforcement is difficult. Short-selling from Canadian offshores subsided for a year or so, but I guess greed and easy money along with lax enforcement are all just to much to resist.
You can say that again... that again... that again... Is there an echo?
And, what tr8dervic said.
trade2much: If you look at the bottom of the audit, you will see a number of holders of record. The 04 figures are included due to contractural structures inherited under the agreements between all concerned parties and AURC. AURC only existed after 10/05 when it reversed into an existing shell, however, the Mining Corporation Zabaikalgeoprom has existed for more than 30 years. Therefore, there must be some aspect of the contracts with the mining operations which requires reporting '04 in the audit. IMHO
That is interesting. Kylon came after December 15. Anyone care to guess what that means? Assets to be revealed in the 1st Q report will then include additional Kylon holdings? Anyone?
I think that with the rise in gold prices for April, the asset value has already increased by 20%, or more.
As for the $4 billion listed in both liabilities and assets. The assets are in the ground, therefore for accounting's sake they are then subtracted out under liabities. Otherwise, it would show as distributable per share returns. Once removed from the ground and processed, production costs are subtracted from the net value, while liabilities and assets are reduced by estimated value of the asset removed. The balance is the net income that is then applied to net income/loss per share.
OK, so he took profits on 1.4 million shares over a one week period, or about 1/3 of his holdings. The problem I have with what you are saying is that because he didn't hold all of his investment that somehow indicts him as a P&D. Moreover, how do you blame the high volume for both days on him when even if he did take profits it would amount to an average of only 700K shares per high volume day. Sorry dude, but I can't fault anyone for taking profits off the table.
I had serious holdings accumulated between .06 and .08. I sold half at .15. If I had revealed that during that particular run you would have accused me of dumping just as you are accusing West. Dude, if you don't know how to take profits don't blame it on others. If you do know how to take profits, then don't pretend not to have an agenda different from longs.
For the long run, I like the action today. Back filling the gap provides a free and clear run for tomorrow. Even if the price gaps up at open tomorrow, there will be no gap, unless it opens above .41. This bodes well for the rest of the week. IMHO. I think we will see .60 before Friday.
Inventory, estimated value of reserves, is an asset, but it is also counted as a liability since the ore has not yet been extracted. As one poster pointed out, it is a balance sheet and therefore it must balance.
I'm no commodities expert, but in spite of bashers, I have seen this method of audit/accounting before for mining operations.
Question, what was the gold value used for the audit? If it was $550, we are shareholders in something that has already gained 20% in gross value. Wheeee!!
http://www.auruscorp.com/investor_financials.asp?sec=investor
It's worth your time to bone up on the 1970s and other "bubbles" in preparation for the coming run in gold and silver.
Hunt Brothers and the making of the Silver Bubble:
http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=137827
Historical bubble analysis from NYU Stern
http://pages.stern.nyu.edu/~ADAMODAR/New_Home_Page/invfables/bubbles.htm
IMHO: We are still at the formation of the bubble and completion is still some months off, perhaps a year away. Metals across the board are rising; however, gold and silver have an allure beyond that of the others. In fact, at the peak of the 1970s bubble, gold was priced higher than even platinum. Hard to believe. Now is the time, but be aware that as prices increase, marginal mines become profitable to begin production and producers at some point will respond to the market with rapid increases in supply. AURC's holdings have only become producable in the recent market as gold ran above $500.
Throughout 2000, BGO-Bema ranged from .21 to .31 as a 4 year old startup with proven reserves and a higher concentration of Gold ore than AURC. They have been producing consistently for several years during which time gold has more than doubled in value. AURC can not only do the same thing, but if gold continues to $800, which many are predicting, AURC will surpass Bema in value. Patience Weedhopper. With the right news and production, this will be above $2 by the end of the year(maybe much more).
I agree, chump change, but consider that the decisions are often made on the fly and in response to constatntly changing market conditions. Although $1 million may be chump change for the firm, the individual actually transacting as MM has an account that has to be balanced, and a $1 million loss within that account is probably a career ender. If the decisions were made with the consent of the team manager, then two careers might come to an end, or at least cease upward movement. IMHO
There are several ways to force covering. All involve an audited share count for some greater purpose. One is to offer a dividend to holders of record. Another is movong to a new exchange, which forces an accounting of shares. That's why moving to OTC is such a strong move.
Someone earlier mentioned asking for certificates. My experience is that uncovered shorts don't care about certificates. All certificates do is reduce liquidity and therefore allow shorters greater support for their sales.
Not saying there are not advantages to holding certificates. Just saying that calling for a movement to request certificates only creates a false sense of doing something. IMHO
pugdog, when you get Martell XO, give me a call. You've got a drinking buddy. LOL
If you look at the volume for the days in question when the short positions could not be covered, there are millions of shares traded. 8 million, followed by 5 million, then 7 million. Those three day's totals together are greater than the float. I suspect that uncovered short sales had been probably numbered in several million shares; so, to take losses, someone has to eat several hundred thousand dollars to possibly a million or so. That is a lot of cheese to eat, and covering in a bullish situation only feeds the run, thus making losses greater. Damned if they do, and damned if they don't. IMHO
mejerrylee, Of course, we are both joking here, I hope. However, I have seen situations where short totals were very near the float. That was before Reg SHO, but when you have 3 days of trading where the volume exceeds the float by 20% for all three days, well...
Ahhh... nostalgic feelings toward my Alma Mater NNOS. There was a school of hard knocks. As a long, learned a lot from that nasty business. Really learned a lot, but the tuition and expenses, whoooeee, very steep!! LOL
I agree, if you look at a chart w/o logscale you will note three huge gaps up within three weeks that never backfilled. The first is at .10 and the second is .15 and the 3rd is .25. I think the closely spaced jumps in price caught shorters and MMs unaware and they lost control of the pricing. They still haven't covered the .15. and may not have even covered all of the .10. The high volumes for all three events indicate that covering has been very difficult as they compete with new buying and holding. They may be covering and licking their wounds as we speak. Further, they do not want to get caught again before they are flush. Of course, IMHO. Do your own DD.
http://stockcharts.com/h-sc/ui?s=aurc
Of course, Friday afternoon liquidation. Should have known. Get em' while their cheap. Monday, when the swing money returns, will be a different story. I still say we close going north.
No. of shares held tells shorters exactly how much is available. I can't help but notice that 2 million shares dumped at .34 and drove the pps back to .30. Can the two be connected? Probably not. But paranoia can be a trader's, or investor's, friend.
I don't participate in share counts either, so since you are asking, I have 26,000,000 shares. With my profits from next week I plan to buy beachfront property next door to Oprah.
Ah, now we have SP movement. We should close going up today. Victory for longs is at hand. !!!
Pinks cannot be shorted except as a part of daily execution of buying and selling for the orderly progession of the market. That means shares can only be sold short by MMs in order to fill the immediate needs of the market. They then have 5 days to cover the sales. If they do not, then Reg SHO kicks in. So, by definition all orders that are not immediately covered are uncovered sales (read naked shorts). The practice becomes illegal when there is a failure to cover within the prescribed time frame and sales are made without the intent of covering in a timely manner. Many short sellers are betting that 1) a price retracement will occure in time and 2) the SHO regs will not be enforced. So far, that seems to be a pretty safe bet on the pinks.
Scottrade does not allow GTC orders for more than 3 times the current price for stocks under $1. That only means once set, one must reset the price during a run-up. Which means that you can't just go on vacation and come back in 3 weeks to check your portfolio value.
Don't know why they have that policy, except maybe to prevent setting sell orders that take shares out of the lending pool.
Sirlancelot: Sorry to take this public but: Here is a link to Regulation SHO Threshold Security List. 65 days on the list means that someone (group?) has a squeeze trigger price lower than the current pps. That means they have been in the red since the gap up at least since the beginning of the last run. Normal backfilling did not reach that trigger price since it would appear to be below .25. If this runs again, someone could be out of a job and possibly a career (not to mention a hell of a lot of money).
http://www.nasdaqtrader.com/aspx/regsho.aspx
Uncovered shorting also causes artificial shares to inflate the float until they are bought back to cover. It actually is possible for there to be more shares being held by investors than there are shares outstanding. It would not surprise me if much of the action today was more short selling to hold the price down by inflating the float. With the increase in gold and silver holding gains from yesterday, we should have had some upward movement, even if it were only a few cents. Of course, IMHO.
Curt, that post was an inquiry and not directed at you. I don't care about your post. People recommend other stocks everyday on all boards. I would not be here without someone's recommedation on another board. Just that I have been watching for months and this is the first time in 6 weeks that the pps broke with the movement of gold. I want to know what gives.
What's the deal? Gold is up all day and climbing, but AURC, which had been in lock-step with gold movement, suddenly holds value on 2 million traded. Hmmm. I don't think this has anything to do with financials nor any fundamentals. Someone selling air-shares into buying to hold the price? Any theories out there?
Initial investment = .065/share
Cost to raise the pps from .025 to .035 = $100,000
Infinite liability after 65 days on the SHO = priceless
Ahhh, the power of taking it in the shorts.
That's right hothead, buying at .37 you'll look like a genius. I always get a little carried away, though. Nonetheless, if gold continues on to the high that some are predicting, the cap could easily top $20/share. But then again, I am a cup-half-full kinda guy (except when my blood sugar plummets).
My first target is $1. I will be selling 500 shares. If it goes above $1, it will go above $2 on momentum alone. If the news is what we expect then it should carry to $10. If it goes to $10, then momentum alone will carry it to $20. However, gold will continue on to top $700 and since the valuation was at $550, speculation will take the pps to $100. If it goes to $100 than momentum on seculation will carry it past $150. So, my second target is $150. JMHO.
My guess is that without a PR we return to 2.40-2.80 level over the course of the next week. Even with a minor PR I say we crack the break even with gas prices on the West Coast.
Won't need war with Iran. If current gold prices hold, and they will, AURC valuation should top $20. If gold tops $800, look out!!
I bought in back toward the bottom at .06-.065. AURC has sure made my portfolio look pretty.
In a living body, the neutralized viruses then become part of the body's metabolic system since the virus is nothing more than organic material. Once the virus is rendered inert, normal processes break it down for energy and the virus is eliminated as normal waste. So, what was once a destructive organism then becomes simple food and waste product. The micelles are also eliminated during this process. It works so cool.
If you look at a simple 1 year chart, there is a huge 1 day jump from 1.00 to 1.50 in early January and a big gap follows that was filled, but only an a few low volume dips down to just above 1.50. My take on this is that there were still some illegal naked positions outstanding from the $1 to 1.5 level that needed to be covered. Whence, MM complicity in moving the stock down even against two positive PRs. Also note that there was an awful lot of trading below 1.60 yesterday, and once enough volume was generated below that line, the price miraculously rose.
That is why I really don't like to see gaps and jumps where there is little or no retracement. It catches those nasty short players by surprise and they stop playing fair because their lives are literally on the line until they cover. All covered by the standard disclaimer, IHMO.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=nnvc&sid=0&o_symb=nnvc&x....
I felt good yesterday when I was green at close simply by buying above the low. Whee. I love when I get lucky like that.
Feel better today, though. I sense that the nasty little take down is over and that we will begin a steady march north next week and recover all of the losses of this week. Those who bailed low are going to get caught chasing and trying to make up loses.
Homeland Security couldn't find their own butts in a rain storm with a flashlight and a map. How could they possibly find NNVC and the cure for AviFlu or any other bio-threat?
DOD has all the labs, and funding. Actually, I'm surprised we haven't heard rumors of Department of Navy. They're the ones with the big labs and Black-0ps funding.
It depends on how the in vitro study is designed. If they simply want to demonstrate bonding between H5N1 and the micelle, then the key is the number of times the test must be repeated to demonstrate consistent results. If they need to show that the bonded virus cell is rendered impotent, then they may inject a host and wait the normally expected time for onset of symptoms. In the case of H5N1, as I understand, that would be an expectation of symptoms after 8 days and perhaps up to 14 days.
The answer is, results could be a matter of one week (in fact they may even be racing back to the US as I type this) or as long as 3 to 4 weeks.
I hope it's the former because the trading of the past 4 days has been mostly illegally filled orders including filling under bid and short sales at the ask, or above. I would like to see these guys really feel some pain as they fail to cover a few 10s of thousands of shares. The action showed today that a few thousand real buys will bring the pps back up 10 to 15%.