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Probably, although the price is up substantially from just last week. .92-1.38
SOEN: Volume huge already. $1.37 up 10%
Might be breaking out now.
SOEN: Volume continues to come in heavy.
SOEN: Kozuh,
This one continues it move this morning.
Florida: Littlefish, Florida was manhandled today in two areas. The secondary and the offensive line. The entire starting defense is practically Freshmen. Last year our defense carried us to the National Championship but those guys are all gone. The next two years we should be right there for a National Championship. This was a defensive rebuilding year. Congrats to Michigan and especially Chad Henne on a great game and Go Gators.
Oil Contest: Congrats Researcher. Got me by 10cents.
SOEN: Is it me or is that non operating income? I am no expert on accounting but was wondering what exactly that additional income was from.
UVE: Stock is good enough to stand on its own. It doesn't need pumping.
Merry Christmas! Thanks for a great year guys. TFN
Argyll: Sounds like job growth for the US to me. I know we just moved some our production from China back to Pittsburgh. The costs factored in with the quality issues make it cheaper to produce in our factory here.
OT: I remember watching this show with my father when I was young. He loved it.
UVE: I still think the main reason for the pullback has been Lancer liquidating shares. They sold a bunch from June-October as per the filing and I think they continue to sell. I'm only guessing but I bet we get another filing from them soon. It looks as if they are trying to get out pretty quickly now. It doesn't really look like they are willing to go lower than 6 though. Once they finish selling then the price should move back up. As for what the state is going to do, who really knows. We at least have some time before another assessment if one comes down. TFN
Gotcha. I saw it in the portfolio when I was looking back at posts in 2006.
I'm not going anywhere.
Sulphuric Acid: Sterilite: SLT: Len it looks like one of your Uranium stocks has a sulphuric acid plant. I am not sure if you still own this. According to their annual report, they increased sales by 31%.
Len:
I have no idea, I just was going off of my Scottrade which says they made .15 for Q2 and .74 for Q3 (after rs). I don't own the stock, I just was trying to help out on the Sulphuric Acid front.
TFN
RHODIA:According to this link they are. They are the largest producer of sulfuric acid made from sulpher. I have no idea what that means but just thought I would pass it along. http://www.rhodia-eco-services.com/uk/frame_ecoservices.asp?path=htm/PR_SF_SF.htm
They also delisted themselves it looks like but trade on the otc.
http://www.na.rhodia.com/cws/news_detail.jsp;jsessionid=HTRs64JShgmhQJNFKG1pm2zLlsT21QmQgQfNNmJp9cQs1w0MPjvY!199829383?CONTENT%3C%3Ecnt_id=10134198673429895&FOLDER%3C%3Efolder_id=2534374302193038&bmUID=1192464813161
RHAYY Scratch the info about last quarter. Looks like the RS came right before.
Sulfuric Acid: RHODIA symbol RHA or RHYAA These guys are the worlds largest producer of sulfuric acid. The last quarter was much better from the quick glance that I gave it. Looks like they were delisted at some point and did a RS.
While that is quite disgusting, it is good information to have. Thanks
I love western sizzlin. Right up there with Golden Corral. You leave there eating 3 times as much as normal and can expect a heart attack at any moment. There is nothing better than mixing fried catfish with jello and topping it off with some serve yourself frozen yogurt.
Thanks EH
Can you post some examples of the other companies you are referring to with that PE. Thanks TFN
I was able to grab a few right at close at 6.83. Someone has been buying the shares the insiders have been shedding. Someone bought 880000 shares last week from Meier. Then yesterday big blocks were going through. The stock is under a brutal attack on the yahoo board from all new posters. Last year the same thing happened right about now and then one day poof and they were gone. That's when we started moving. I swear someone could write a book on the behind the scenes of yahoo message boards.
It was Meier. I have no idea who was selling today. Either way the shares are getting bought up by someone and so I don't really care. It actually is giving us a more diverse ownership.
Kim,
still no filing, so that is a good sign. If we don't have a filing by tomorrow then it wasn't an insider sale. Most likely then it was Lancer but could also be one of the instituions selling to another institution.
Bigpike: Awesome story man. I will keep you in my thoughts and prayers this week. Puts everything in perspective when you hear something like that.
we won't know until the filing is out. I hope it was Lancer but we will see. Either way someone made a 6mil dollar investment in UVE on Friday.
Export: Lots of things. It doesn't have to be all the big guys. Export business starts with the small guy. For example the guy who comes over from Panama and goes to the local wholesaler to buy items to resell in his country. Sure the amount of money isn't much but there are too many of these guys to count. Add them up and I can see it starting to make a difference.
EXPORTS: This is exactly what I was talking about in my post from a few weeks ago. We have already been seeing this in our business for a while.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24370700
Inflation/Deflation: Does anyone have a good book on the different theories etc behind them. How the economy interacts on different levels to both. Y'all have tickled my brain and I want to educate myself a little bit on it.
Another bit of info:
New York Post
By Christopher Byron
July 14, 2003
FOR nearly a year now, we have been pretty much a voice alone in bringing you regular updates on the unbelievable situation lurking behind the closed doors of Park Avenue's Lancer hedge fund group. Our reporting, based on public-record documents available to anyone, revealed that this self-styled $1 billion hedge fund outfit, with its claimed track record of double-digit annual returns to investors, in fact consisted of almost nothing but worthless penny stocks - many controlled by known white-collar criminals and fraudsters.
In an attempt to silence us, Lancer and its founder, a former Wall Street analyst named Michael Lauer, even sued us for libel, claiming that nothing we reported was true, and that both the hedge fund and its founder were pure as new-fallen snow. But they were wrong, and last week the Enforcement Division of the U.S. Securities and Exchange Commission weighed in to pronounce the Lancer bunch as dirty as gutter slush.
Firing the biggest guns in its arsenal against Lancer and Lauer, the SEC filed suit in a Miami federal court to declare the operation a fraud, seize its assets and shut it all down.
The SEC action amounts to a complete vindication of what we have been reporting all along, even in the face of the group's efforts to intimidate and silence us through a bogus defamation suit.
It also underscores a welcome, if belated, recognition on the part of Washington regulators under the SEC's new chief, Bill Donaldson, that hedge fund fraud is a huge problem and growing worse daily.
WE'LL get to the implications of the SEC's action for the hedge fund industry in a minute. But first, a look at the 1,800-plus pages of exhibits and supporting documents filed by the SEC last week in support of its complaint.
Frankly, there is no other way to put it: They are simply devastating.
Lancer wasn't just an ordinary hedge fund operation that ran into problems following the market downturn that began in spring 2000.
No, by any fair reading of the evidence, Lancer was the hedge fund industry's answer to Enron - an out-of-control swindle machine that struggled desperately, month after month and year after year, to hide its losses from investors.
The SEC documents show, for example, that at the end of 2002, when Lauer was claiming a total value of roughly $1.1 billion for the holdings in his group's portfolios, three seemingly worthless penny stocks - Biometrics Security Technology Inc., Xtracard Corp. and Fidelity First Financial Corp. - accounted for more than half that claimed value. In other words, half a billion dollars worth of nothing!
All three stocks trade on Wall Street's fraud-drenched pink-sheets market, where the SEC complaint charges that Lauer and his group engaged repeatedly in one fraud after the next to gin up the price of the shares. The alleged goal: To boost the reported value of the funds' holdings so investors wouldn't start cashing in their shares.
Two of the three stocks - Biometrics Security Technology and Xtracard - are the financial equivalent of Siamese twins, sharing a common Boca Raton, Fla., office. That office is a business address for an individual named Laurence S. Isaacson, who is listed in SEC documents as the president of Biometrics Security Technology, as well as a director of Xtracard.
Isaacson is also president of yet another apparently worthless penny stock in the Lancer portfolio: Centrack International Inc., also operating out of the Boca address. And his office is home to still another such penny-stock company in the Lancer group portfolios - Lionshare Group Inc.
None of these Boca-based businesses have up-to-date financials or similar documents upon which to judge their investment appeal. Yet collectively they were carried on Lancer's books at the start of this year at more than $433 million.
Florida incorporation documents reveal that Xtracard, which claims to be in the business of offering "affordable healthcare solutions" to the public, also has an office in Hasbrouk Heights, N.J. The documents show that in April of this year Xtracard Corp. merged with a similar-sounding company called Xtracard Marketing.
Merger documents identify the latter company's CEO as one Jay Fabrikant. In 1996, Fabrikant was a director in a Long Island company called Sterling Vision Inc., in which Lancer was the largest outside shareholder, with 7.4 percent of the stock.
Two years later, Fabrikant pleaded guilty to Medicaid fraud and was sentenced to three years' probation in a case brought by Manhattan D.A. Bob Morgenthau. Now Fabrikant has reconnected with Lauer, through Xtracard.
The Lancer holdings are simply dripping with connections such as these. Back in 2001, the predecessor company to Xtracard - an outfit called Nu-D-Zine Inc. - acquired a stake in a Lancer-controlled penny stock company in Beverly Hills called Total Film Group Inc. One of the founding investors in that outfit was an individual named Abraham Salaman - an ex-con with organized crime connections dating back to the 1970s.
Salaman, who last year pleaded guilty to federal securities fraud charges, has turned up as an investor in at least seven Lancer-held penny stocks over the years.
Another big investor in Total Film Group turns out to be a man named Bruce Cowen. He is identified in SEC filings, as well as in exhibits to the complaint, as a top official in the Lancer organization.
But he is more than that. In 1999 the SEC banned Cowen from serving as officer or director of a public company for five years after he was discovered enriching himself illegally in a stock options scam. And Cowen is now awaiting trial in September on felony charges for allegedly trying to negotiate a kickback out of an undercover FBI agent using stock in a New Jersey company - Lighthouse Fast Ferry Inc. - that was controlled by Lancer.
Altogether, Cowen turns up as an investor in nearly a dozen Lancer-held penny stocks. And his wife, who goes by the name Kathryn Braithwaite, appears as a director on the boards of several more Lancer stocks, including the aforementioned Xtracard.
This, then, is the operation the SEC has set out to shut down.
A lot of stupid, greedy rich people have lost fortunes in this fiasco. Blinded by the funds' claims of over-the-moon returns, they rushed in without ever being shown what Lauer was actually investing their money in.
What's more, no one yet really knows just how much money was wasted in this way, because Lancer's audited financials are by now more than 18 months out of date, though one reasonable estimate would put the total at close to $500 million.
Yet, if nothing else, the horrifying tale of Michael Lauer and his Lancer hedge fund group makes plain enough that the basic rationale for exempting hedge funds from regulatory oversight just doesn't hold water. It may seem logical to say that people with net worths in excess of $5 million are smart enough to look out for themselves in the stock market. But the Lancer matter shows that they are ultimately no different from anyone else.
Rich and poor can become equally greedy at the prospect of a quick killing on Wall Street. And when the opportunities to exercise that greed aren't regulated and controlled, the costs can be devastating.
That is so not just for rich people who get ripped off, but for the equally greedy but less well off folks who also go chasing worthless penny stocks into orbit, never realizing that they themselves are the victims of unseen charlatans.
So it is a good thing that the SEC is moving against Lancer. And after Lancer there are plenty more hedge funds like it that the feds ought to consider taking on next.
Ok so here is a link to the information on the lawsuit against Lancer by the SEC. It is pretty interesting.
http://www.sec.gov/litigation/complaints/comp18226.htm
We will find out next week!
Great song. Came well before me but one that will work forever. I have the version that she sang live at Billy Bobs.
I see it a little differently. I think we have basically one seller, Lancer. Lancer has basically been selling every day for the last few months. Once he is done selling then I think we move. I don't really think there is manipulation right now. Just lots of shares for sale via one fund.
Afterhours trade of like 900000 shares. Hopefully its Lancer unloading his shares.
Im ready to continue that momentum into today.
KIK: Hilarious