fishing4diamonds, great post and good to see you here.
B. Patterson gets a cookie.
ELTK is one I called early last month. When they announced their annual earnings is when the stock took off. I've traded in and out three times since their news announcement, doing well on each trade.
I didn't call them knowing there was such a naked short position out there. They simply had great fundementals and had been overlooked and undervalued. When I called them, their volume was low. After their earnings, volume went nuts. Patteron's assessment of their trading pattern is the best I've seen about an 'excess shares' issue with ELTK.
ELTK certainly can be thrown on the pile along with GLKCE as obvious proof of excess share being traded even though the o/s and float have been confirmed by the companies and their transfer agents!!
Speaking of GLKCE, as long as the company holds their share structure in place, they remain an example of the "excess shares" problem in which manipulation is occurring day in and day out. If a cover was ordered by the SEC of the excess shares, GLKCE has the potential to trade multiples higher than even current levels. We see how fast and high it rises even after appearing to lay dormant. Imagine what enforcement of trading rules would do for their stock price in the short term.
I've begun telling some people about Dateline's upcoming piece. It's simply a must watch.
Fair trading on all securities would provide the biggest boom for corporate and personal economic prosperity seen in many years. Possibly ever.
Excellent stuff and glad you brought it to the boards.
Bo
