Replies to post #7349 on Charting Technical Analysis

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** MOASS: Historical Short Squeeze Plays: PAIM 2006 (now ZNXT)

~ PAIM announced a 90% buyback to reduce O/S from 30 to 3 billion (and replace those shares with convertible debentures).
~ The buyback became effective Jun.15.2006 but was ignored by brokerages.

~ It was noticed by brokerages in early July, by then, many customers had sold shares they werent supposed to (90% of all shares sold after Jun.15 were sold short).

~ Runs 6000% on short cover

~ Story by Ant and Sons on July 20, 2006:

PAIM - Pearl Asian Mining Mirrors Paivis Corporation

Paivis Corporation (OTC: PAIV) is currently up $.051 to $.215 on another heavy volume day. As mentioned in yesterday's blog post, the stock has surged an unbelievable 15,000% since May 22 on a massive short squeeze. Microcap investors out there are now purchasing shares of Pearl Asian Mining (OTC: PAIM) hand over fist, as its shares surge $.0011, or 183%, to $.0017 on outrageous volume of 1 billion shares. Investors believe that a similar situation in comparison to Paivis is underway. There might be some truth to that because on July 12, Pearl Asian Mining announced that it was close to completing the buyback of approximately 27,000,000,000 or 90% of its issued and outstanding common shares using a convertible debenture (CD). Pearl Asian Mining has transferred to the Depository Trust Company (DTC) notes with a face value of approximately $27,000,000.00 which the DTC received on approximately June 21, 2006. However, PAIM has not received any of the 27,000,000,000 common shares of the buyback. At this point, the shares bought and sold in the market should only equal the remaining 10% of Pearl's issued and outstanding shares. However, the company believes that some of the DTC's participants, i.e. brokers, have failed to notify their clients, which has resulted in many shareholders selling shares short. It looks as if there could be another share imbalance and that brokerage firms are yet again caught in the middle of it all. Let the short covering begin.