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I'm putting this forum up for grabs for anyone interested in taking it over. I tried but I don't have the time to post here with any consistency.
Rich
I'm no good with a welding torch. I guess I'll just stay here and buy stock.
I'll go get my shovel!
Sure does.
Quest Rare Minerals Appoints George Potter to Its Board of Directors
"Most recently, Mr. Potter served as Senior Vice-President Capital Projects of Barrick Gold Corporation, where he played a leadership role in the construction of the Veladero, Lagunas Norte, Cowal, Tulawaka and Buzwagi projects. He was also involved in the Placer Dome acquisition and was responsible for the development of the Barrick project pipeline, that included early-stage projects such as Pueblo Viejo, Pascua Lama, Cero Casale, Donlin Creek, Reko Diq and Kabanga. Prior to joining Barrick Gold, Mr. Potter was Managing Director Capital Projects of AngloGold Ashanti, where he was involved in a number of development projects from 1993 to 2004, including Siguiri, Geita, Bibiani and Obuasi. His experience also includes projects with Barlow Rand (1983 to 1993) and Rio Tinto (1975 to 1983)."
http://www.marketwatch.com/story/quest-rare-minerals-appoints-george-potter-to-its-board-of-directors-2011-10-06-830590?siteid=nbsh
Bit of a shorty squeeze going on here today.
My hunch is some big money has come on the bid but can't get much in the way of volume filled due to the thinness of the float. This could be a very fun, very fast ride back up. (It's a little too soon to call a bottom but I'm hopeful based on what I'm seeing so far today).
We've got a gap to fill now at 3.19. See how we do from there. So far this is a low volume bounce. I would have preferred more of a capitulation move first. I can't say that I feel comfortable about this being a bottom yet. Wouldn't surprise me if we at least consolidate in the $3's for a while. Gives the shorts time to cover. A move back above 3.75 with support there would have me feeling more confident we've seen the bottom.
Cool beans! I love buying bargain minerals! Make it so.
Me too! Our babies work out soon and I'll be a major shareholder here next.
If we see it, I'll be a buyer there. No doubts at all.
My pleasure.
I have traded this stock, but am mostly focused on the long term. Knew that going into this so the decline is a gift to me. Silver hit strong support today on my monthly chart. If the lows from today are lost I think we could see mid to lower 20's. The COT report appears that shorts have been covering on this drop and shorting into the dollar rise.
I still currently am bullish on the markets, believe it or not. I think the drop we've seen is going to give the Fed the excuse they need to get the go ahead for QE3. Could be wrong, but for now that's how I'm seeing it. When they start printing again the markets will go higher. I'm loving this buy op for mining shares like QRM. Hopefully it stays low for me for a few more weeks so that I can make some more cash to put into this and some others.
Enjoy your weekend.
You didn't ask me, but I've got trend line support at 2.43 and then another trend line at 1.48 and a gap fill at 1.33. At this point I'd actually love to see those prices. Won't bother me if we don't though. Didn't think I'd get this gift in the 2's.
Long & Strong...
You can bet that they'll play the game for as long as they can.
Let it go to 0. I'll buy the company, although I suspect some Chinese/Japanese windmill or monitor manufacturer might beat me to it.
Think acquisition target when you think QRM.
Nice Rick. Got that gap filled at 2.7479. Next one is at 1.33. I have mixed feelings about seeing it, but it'll be ok if one of our babies makes a move before then.
Interactive Brokers. I don't use margin in the account so no biggy for me, but I wonder how many folks got margin calls because of it.
Curious timing...
Margin Increase on Low Cap Securities
As a follow-up to a communication issued last Friday, please note that we will be implementing a change to our margin policy whereby stocks which report a market capitalization below USD 250 million, or equivalent, will no longer be considered marginable and therefore will have no loan value. This change is intended to recognize the well-known risks of micro and small cap stock which, relative to larger cap stocks, tend to be more volatile and less liquid, particularly in periods of elevated volatility. At this point, the policy will exclude certain classes of securities such as preferred stocks, ETFs and closed end funds, although individual issues within those classes may already be subject to house margin requirements for other cause and those margin rates will not change.
The table below includes a list of securities which you hold that will be subject to this change. Please note, that in an effort to provide sufficient time for you to take the actions necessary to ensure margin compliance, we have extended the time line for implementation of these margin changes as follows:
Close of Business
Effective Date Margin Rate
2011/09/21 35%
2011/09/23 50%
2011/09/28 75%
2011/09/30 100%
Exchange Stock Description
AMEX QRM QUEST RARE MINERALS LTD
If you contemplate new purchases of a stock with a capitalization of USD $250 million or less, please review the below link to determine whether it is scheduled for the margin increases.
Low Cap Stocks Subject to Limited Marginability
I trade futures. This is an investment for me. Welcome.
BOT 1,000 QRM Stock 3.300 10:51:06 5.00
BOT 300 QRM Stock 3.340 12:09:03 1.50
BOT 700 QRM Stock 3.341 12:14:21 4.00
BOT 1,000 QRM Stock 3.300 10:51:06 5.00
BOT 300 QRM Stock 3.340 12:09:03 1.50
BOT 700 QRM Stock 3.341 12:14:21 4.00
Only wish I had more cash! Long, Strong & patient.
Looks good to me Crusader. This price drop doesn't bother me. I love it, although I'd love it a lot more if I had more cash. Have to wait on a couple other things to play out. Hopefully the timing will work with QRM's lows.
Rich
All the REE's are showing capitulation today. I'm sure as hell not calling any more bottoms, but the potential exists here.
Major trend line support @ 3.29.
3.47 as a guess
A must listen: In-Depth Interview with Lorne Waldman of Silvercorp Metals Inc., as well as Robert Archer of Great Panther and Jason Reid of Gold Resource Corp.
http://www.financialsense.com/financial-sense-newshour/guest-expert/2011/09/17/03/lorne-waldman-silvercorp-responds-to-allegations
I bought 4k shares today at 4.03 when there was one MM showing 1000 share offer. He never left the ask and many of the shares were filled at 4.029.
This stock is being shorted, imo.
Forgot to mention, watch for resistance at around 7.20 on this push if we get that far.
The deepest pullback from the high of the rally today was a little more than a 50% retracement of today's rally from the low. It went right to the 20ema on the 15 minute interval chart, which is currently at 6.685, and bounced back above the 20ema on the hourly interval chart, currently at 6.74. If that price holds then things continue to look good for more upside here, imo. If 6.60 is lost then I expect an eventual retest of $6 and if that is lost then today's lows.
If there is a rally above the current high today at 7.49, then I'd watch for resistance at 7.85, 8.05 and 8.16. A close above $8.10 on strong volume would lead me to expect a continuation move higher tomorrow.
I bought oct 21 '11 $8 calls for the short term move and some Jan $12 '12 calls for the longer term. Good luck all.
It's pretty obvious that SVM is just another victim of the Wall St. game. If the shorts aren't out yet my thought is they will be soon. All of this will likely blow over with no arrests or perhaps a scapegoat or two catching some heat, or perhaps a slap on the wrist equating to a fine of 5 - 10% of their profits from this short, but the boys will make their money and move on.
Here... let CNBC's Jim Cramer tell you how they do it...
Thanks Harold. I'm done after this one...
BOT 150,000 DKAM Stock 0.0048 11:48:21 3.60
BOT 350,000 DKAM Stock 0.0048 11:05:05 8.40
BOT 100 QRM Stock 4.43 10:34:43 1.00
BOT 500 QRM Stock 4.43 10:34:43 2.00
BOT 300 QRM Stock 4.43 10:34:43 1.50
BOT 1,000 QRM Stock 4.43 10:34:43 5.00
BOT 500 QRM Stock 4.43 10:34:43 2.50
BOT 100 QRM Stock 4.43 10:34:43 0.50
BOT 500 QRM Stock 4.43 10:34:43 2.50