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Still here in the pennies. Sad. I see not much has changed with this issue since .... ? Ah well, at least the company is still in business and still has a crew with some good paying jobs and is still getting orders.
GLTA
*touches wood once more* I have had incredible timing luck on this one for sure .. but this is definately an 8 - 11 dollar stock IMO, with this latest report.
GLTA
Wow, look at the range bound price since Oct 3.. I'm waiting for the Italy/Greece effect before I decide to get in here again. Not that the company isn't solid, just that the market is such a human thing ..
Just closed my 2nd (September) short of 7.55 on this one. Yet ANOTHER nice take - but not as big as the first - and the Oracle of Omaha could do nothing. He seldom loses .. but things aren't what they seem these daze.
I remember posting on this site .. always going long on U.s stocks, and for a couple years it was always so difficult .. so nerve wracking, even when (any given issue) was a fundamental screaming buy, somehow, it just never materialized ... But now I see the light. I am generally a long investor but I always believed shorting had its rightful and proper place. But only legitimate shorting - the naked kind is the stuff of robery. (can you say 1%?)
Well bust my buttons. I have made more in a year shorting than I could ever hope to make going long. So here we are .. BAC is in trouble .. and ITS SOOOOO EASY to make money just shorting crap like this ..
Its the old addage.. if you cant beat em ....
P.S. American banks are in for a 50% haircut if Italy folds anything near like Greece. Make no mistake .. Italy is a monster thats been waiting in the wings. Today is just an indecies correction IMO.
Uplist ? LOL ... well .. sad to say .. (my last rant here) .. but I am not impressed with these guys as I wasn't impressed when I left here. I cant believe they have pi$$ed everything away. Are we really down to that fab shop in Channelview? I had hoped that this company would eventually come into it's own.
Eventually has passed - and developments of late only give me pause to reflect. I express my sympathies to those who hung on here and lost and would only hope those ppl didn't pile on too much. What I really wanted was to come back and congratulate them.
IMO, Ron & Co. have never given a rats arse about the publicly traded co. called Deep Down and have in fact, demonstrated what I want to say is a cavalier attitude towards shareholders, but that is far too kind. It's much more Goldman Sach's-like and sinister instead.
A very long time ago, I had arranged a visit with mgmt there, - but the way I was spoken to and treated .. made me cancel the whole trip - and subsequent pullout. I too echo a long establised and coninuously growing sentiment that Ron & co. cannot get along with others. It seems that all the ppl with whom these turkeys have had contact, are gone within a year.
As I remove this board from my favs (I only have 1 left now(CLFD), I wish you all good luck, but if you stay in this issue, I'm afraid, your luck will be bad if any luck at all is to be had. You know what the description of insanity is ...
V
Hmmm ... time to re-consider another entry ?
*Is actually headed to Rio* in January ..
Ditto on the soft spot.
The buffet effect means zilch for the end-state of this institution. Like Hank Paulson - who signaled the 1% with the first 700B bail out, if anyone who understands a plutocrat or an oligarch, knows that the 5B was nothing more than a signal to the 1% to get their money out in an orderly fashion whilst the sheeple believe that BAC is fine.
Think Buffet didn't know of the lawsuits coming?
http://www.theglobeandmail.com/report-on-business/big-us-banks-face-mortgage-lawsuits/article2151259/
In short - it buys all those folks time to exit cleanly, just like the first class section of the Titanic. Maybe a modest loss but out. I just covered the remainder of my July short BAC@10.23 for 15000 shares - a nice short indeed - no need for greed. The terms of Buffets loan are second to NONE. You and I will never ever get what he did in terms of generosity.
Remember, buffets mask has slipped a couple times. This is the guy who disowned is granddaughter for speaking out about the rich.
http://online.wsj.com/article/SB120371859381786725.html?mod=fpa_mostpop
GLTA
So much for that ..
Agreed. BOA is soon to be DOA .. wasnt my last post after all.
And I remember when my friends laughed at me for my call for gold to go to 2500+ when I was buying it at 800 an ounce.
I now revise gold to get to 5k an ounce inside of 5 years.
Keep on printin'
I knew I shoulda kept my big mouth shut, now jinxed, I'm out @ 8.00 even ... I think this is my last venture into any U.S. based equity for quite some time.
As an aside, I have always maintained that The train wreck of '08 was ony the beginning, and that the blast of stimulus money injected into the system back then gave the plutocrats enough time to exit after a V shaped recovery began.
Fruition. Good luck to all.
Probably my last post on this site
Take care (Hank)
K.
I am so glad I got back in .. CLFD looks like it might get to ten soon...
GLTY
Its been very nice. Will it go to 10 dollars ?
Yet another PR.. CLFD working it.. solid company here.
GLTA ...
2 PRs in as many weeks, CLFD on the move again.
Awesome. Nice day ... I cant believe I traded that V like a seasoned vet. Back in on the bottom ... and I ASSURE YOU.. IT WAS DUMB LUCK and gut instinct.
Congrats and GLTA
Imagine having just bought at 2.08 this morning, go to a meeting, and now having a look ... LOL ...
It would appear that I now understand why my account is up 160% .. Hehe ..
Going away on vacation for a couple weeks and not checking your stocks can sometimes be a good thing.
congrats to all ... and much more to come.
heya Hank, you back in here ?
WWEEEeeeee ... ee ??
Looks like the tug o war is still ongoing... On the plus side and holding still.
They know what your'e thinking ? Yes, get that fixed. J/K
Yes. All Market makers can distinguish covers and buys.
Not many sellers at this level. I'm still collecting though.
GLTA
I would like to take this opportunity to thank those who sold me their .02xs and .03s. Thanks kindly.
Level III is not available to the trading/retail public. Only trading divisions/Market Makers have access. It's one of the reasons that the system is inherently problematic in that it invites unscrupulous behaviour by those who would take advantage of it.
One of the most common problems for enforcement agencies is trading in advance of the client. Its known as "front running" - wherein, the agent trades for his own account first - to his advantage - then the client. In the mutual fund industry, there is a similar problem that has been all but wiped out, at least here in Canada, known as "skimming".
Google both terms and you will get a weeks worth of educational reading.
GLTY
Its exactly those expectations that will be played upon by competition for shares. My only advice would be: if you want shares, then its times like this to get them - the dips. Ask yourself, why would the price crash through support that was just there earlier - keeping in mind that there are very few shares. Also keep in mind that the company may dilute to raise some capital. This can cause a dip too.
Edit: some profit taking/churning/consolidation going on today too. Traders in @ .015 ~ .025 are suddenly "shaken out" by MMs who will pull the bid floor to trash percieved support levels - thus giving the appearance of mass selling .. and it works. And why not? 100% - 200% is ALWAYS a good days work.
This little company is a whole new ball game now. You and I and all those who have skin in here right now will be subject to usual trading tactics and some shinanigans by those who will want more - read large MMs. You can become an MM and work both sides of the market as well.
I posted yesterday that more than 50% of the volume was short and that it would be again today:
20110323|BMGI|387788|0|723666|O
http://regsho.finra.org/FORFshvol20110323.txt
And so it is. However, these numbers represent the DAILY volume and shorting shown here can be covered by the end of the day. While over 50%, this percentage is not yet high enough to warrant heavy buying pressure to force mass covering. Its still too early in this game yet for that. We will need to see 80% or better before you get the picture that shares are scarce.
More development PRs and actual filings like 8Ks and such will drive demand for shares. In the interim, spikes will be seen.
In the end - its up to you to decide whether or not to buy. Suffice to say that I have bought enough and only shop for the large dips at this point. I have not traded out any just yet - as I am awaiting filings before doing so - if at all - and continue to accumulate fire sale prices.
GLTY
Technically correct, that is their role but don't be fooled. They are in this to make money as well. And in this age of lacking oversight and regulation, they run the gambit with tactics.
THEY DO NOT like to lose - and as they hold all the cards, inter-house trading/churning, short-forwarding, etc etc .. all with Level III access, and when you can see Level III, (u cant) they can and do - as they please at times.
To the best of my knowledge yes. 3 mil float. 12 Mil total .. again .. I think .. dont know for 100% certain - BUT - the behaviour yesterday and today (like RIGHT NOW) suggests shares are scarce and BID FLOOR pull-outs, the likes of which are occurring right now are symptomatic and A-typical of such a low floater stock. Im certain the fight for these cheaper shares will be vicious.
More than 50% of yesterday's volume was short. I have no doubt, today will be the same. ANY and EACH DIP has me proportionally buying them.
patience ...
That would make $00.40 or 40 cents - very reasonable actually IMO. These penny-and-a-half increases per day so far are just fine by me ..
GLTy/A
Hmmm. Wait for it .. while its sill a(n) (relatively) unkown stock/event - I see the bookmarks on this page rising ... but alas, the ignore feature is very handy
GLTY
Most disheartening to hear you weigh in so ... but I have to side with you for the time being - still watching.
No one. That's a scare tactic. Patience. Lots of shorts on BMGI's RS never expected an RM of this calibre. Its a buying opp if you like...
... -eom
You cant be serious. $200.00 will get me 10,000 shares. Whats the risk ? I spend that on a good night out with my GF.
... patience
In again on volatility someone came down to my 4.95 and 5.00 bids
It costs me 119.oo to fill my Dodge 2500 (100 litre tank@ 1.19/ltr) I wouldn't disagree with regard to Oil fundies. However, mgmt of this company has, I think most will agree, been less than adequate IMO.
Always ever watching DPDW, I hope it's fortunes turn around with this JV but I remain on the sidelines.
OT - I have only one American holding now in what was a nice size portfolio .. It is doing well due to recent interest but does not operate in the energy sector.