posted
COOL I got in low and out high. nice piece of change. When I bought I was busy and took a flyer based on some post of folks I respect. Wasn't bashful to grab the marbles and go home. Kept one shooter though for 1000shr. Turns out this parallels my days in grade school playing marbles. Kept som of those also. VAN
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
| IP: Logged |
posted
You better stick to trading if CMKX was your first buy... you have a winner and will only get better... GOOD JOB AND BEST WISHES TO YOU...
I may have to take off work Monday to watch this unfold... what do you think ???
quote:Originally posted by joeyisthebest: great post mizzou7 I am with ya but I have only been investing in the stock market since last year in Jan. I started the pennies in Feb of this year and CMKX was my first buy.
posted
Pretty much like me.. I am into stocks for the past 2 years, came into pennies in Feb. By the time I know QBID, it was 0007.
I am glad I've been holding CMKX since Feb.
quote:Originally posted by joeyisthebest: great post mizzou7 I am with ya but I have only been investing in the stock market since last year in Jan. I started the pennies in Feb of this year and CMKX was my first buy.
Posts: 722 | From: Atlanta | Registered: Feb 2004
| IP: Logged |
posted
Anybody have any thoughts about the timing of the last PR. Is it like they just wanted to release it the same day and ended up releasing at 11:30et. Why didn't they wait until Mon. I think I am thinking too much becuz of this excitement Posts: 722 | From: Atlanta | Registered: Feb 2004
| IP: Logged |
posted
mizzou7 I wish I could take off of work to watch this on Monday. I called melvin to thank him in advance I left him my cell phone number so he might call me back on Monday. I have to work from 11AM to 630PM not fun I hate my job I fix cars. However, I was wondering if you do take the day off could you maybe give me a call at about 3PM to up date me on CMKX here is my number 1414-380-8863 thanks.
Posts: 795 | From: Brown Deer, WI 53223 | Registered: Feb 2004
| IP: Logged |
UC, imo, executed one of the oldest tricks in the jungle, with last night's well-timed news release.
The MMs were asleep, IMO, with limited access to their "files" over the weekend.
The MMs will really have to scramble to react to this NR before Monday morning,
The planners of this NR, imo would have realised, in advance, that key people in the organization may be hard to reach over the weekend, and some services that supply the MMs will be closed, etc., severely impacting the MMs attempt to prepare for this new twist
If such was the intention of the NR, I'd say Ambushed !!!
This is all speculation, but I could be right ....
MaddMaxx
quote:Originally posted by cool1sh: Anybody have any thoughts about the timing of the last PR. Is it like they just wanted to release it the same day and ended up releasing at 11:30et. Why didn't they wait until Mon. I think I am thinking too much becuz of this excitement
Posted by: average investor In reply to: Cali_trader
Cali_trader - this has been discussed here today some. My guess you have either Scottrade or Schwab. It has been reported that neither of these brokers will let their customers buy CMKX and some other stocks.
The thinking is: Because of the HUGH amount of shorted shares out by certain MM's, Scottrade CEO of board of MM NITE (reportedly NITE VERY short), Schwab is also a MM in itself and reportedly short also.
By Short the speculation is NAKED SHORT shares not the normal short process.
Know one knows for sure but there is a HUGH belief that this is true by shareholders and reportedly by CMKX CEO also.
My idea at this time is that it is true. -----------------------------------------
Seems to be valid since we've been hearing that CMKX is verry naked shorted. Why would Scottrade let SELL CMKMX but noy BUY? If they think CMKX is a scam, why'd a bigger broker like Ameritrade let you buy?
Posts: 722 | From: Atlanta | Registered: Feb 2004
| IP: Logged |
posted
This was posted on the official CMKX board but has suspiciously been deleted. Anyone know if affects anything?
....
There's a rule that the market makers use ... a rule that only has less than two hundred words in it ... and that rule allows them to naked short an OTCBB or Pink Sheet stock into oblivion. It allows them to literally create, out of thin air, as many shares as they need, to maintain an orderly market.
"(B) Proprietary short sales
No member shall effect a “short” sale for its own account in any security unless the member or person associated with a member makes an affirmative determination that the member can borrow the securities or otherwise provide for delivery of the securities by the settlement date. This requirement will not apply to transactions in corporate debt securities, to bona fide market making transactions by a member in securities in which it is registered as a Nasdaq market maker, to bona fide market maker transactions in non-Nasdaq securities in which the market maker publishes a two-sided quotation in an independent quotation medium, or to transactions which result in fully hedged or arbitraged positions."
This rule allows a market maker to create a share in a company by simply taking the money from the buyer and making an electronic entry into their brokers' account, and the broker then electronically credits the buyer with one share of that company.
But several things that no one is aware of take place in this transaction.
1. The buyer thinks that his share actually exists, but unless he or she has read his account agreement very carefully, he won't understand that all he did is give money to someone other than the company and never got any actual proof of ownership. His certificate, presumably, is sitting at the DTCC.
2. The market maker filling the order for one share has the buyer's money, and gave nothing except electronic acknowledgement of receipt of it ... the electronic entry in the buyer's account.
One very important thing to understand here, is that at no point in this process, did the company in which the buyer 'invested' ever get one single dime of the money paid by the buyer for that share. There is a tremendous misconception out there that causes many to assume that when they buy a share of a company's stock, the company gets the money.
This is only true if the buyer is buying an IPO, or a private placement of shares from the company. In any other sale or purchase of a stock by an investor, the company does not even see the money.
This is particularly vexing when one begins to understand what happens in naked shorting situations. Situations where the provision that allows for naked shorting to maintain an orderly market is abused.
Understand that whoever is doing the naked shorting is the one receiving the money. They keep it. For as long as it is convenient to do so. That is where the abuse of the rule comes in.
That rule was created to allow for market makers, who by becoming market makers, agree to 'make a market' in certain stocks. That means that they will sell you a share, or buy a share from you, even if there isn't any available, or there are no other buyers for it. The Market makers' job is at least partly, to provide liquidity to the market. In thinly traded securities, or securities where there is a small public float, the market makers' ability to naked short is crucial to the liquidity of the market in that security.
The abuse takes place when the market maker for whatever reason determines that the market for a particular security has become "disorderly". Too much buying pressure, for instance, can cause a price spike in that security that would have no relationship to the true book value of the security. The market maker then determines that he will naked short to fill orders, knowing that by doing so, the price will not explode on unusually high demand because he can literally issue new shares under this rule. The market maker then waits, with an open naked short position in that stock, until the buying pressure subsides, and he can buy enough shares back at lower prices to cover his naked short position.
The rule does not have any time requirements and that allows for the market maker to keep a naked short position open for potentially years. In reality, until the buying pressure subsides enough for him to buy back at lower prices however many shares he needs to fill previously filled orders that make up his naked short position, it simply stays open, and the money sits in his account.
Someone is going to ask the question, "So, how big are all those naked short positions, anyhow?"
There is another provision that says that the market makers do not have to publish their open naked short positions. Never. At all. All OTCBB and Pink Sheet securities can be naked shorted - indefinitely - by market makers under this rule, and there is no way that an investor can discover if there is an open naked short position in a stock he may be interested in, or even how big that short position is.
So far, the SEC does not see a strong need to correct this situation, either.
[Mostly because the sheep...er, ah...investors are happy to hand their money to MM's without so much of a bleat of protest...everybody sing: please re-fleece me, take my cash, for I don't want it anymore...]
Think about it. There are unlimited amounts of shares that were never authorized or issued by a company made available to the unsuspecting investor. They are authorized and issued by the market makers under this rule, and the company never gets any money from the sale of shares created under this rule.
The temptation to abuse this rule is irresistable. Just do the math. A million naked shorted shares sold by a market maker at 0.01 (one cent) is $10,000 that the market maker keeps in his account, and that the company does not get. At 0.10 (ten cents) the market maker gets to keep $100,000. Now, that is for each million shares that the market maker creates.
Under this rule, if a company and/or a group of shareholders begin to suspect a short position exists in their security, they can not discover this from any published source. The price of the stock remains constant, or goes down, even though there is unusually heavy buying ... buying that goes on for years in some cases.
The company thinks that there is someone illegally shorting their stock in an attempt to ruin the company. The shareholders think that the company is illegally printing shares behind their backs and is scaming them. Eventually, this distrust between the company and it's shareholders becomes so great that investors start selling, or the company, already damaged by a supressed share price, is forced to issue additional shares into the market because other collateral-backed loans can not be made with share prices so suppressed.
This is what the market maker is waiting for ... sometimes for as long as years. In both cases, the market maker eventually gets his naked short position covered, and all it cost was the company's reputation, the shareholders' money, and the SEC's full cooperation by allowing this abuse of the rule.
There is a third situation that the market makers naked short into ... a stock that is a likely prospect for failure. In that case, they just continue naked shorting no matter what, keeping the price suppressed, and eventually the company files for bankruptcy, and ... the company goes out of business, the shareholders lose their investment ... and the market maker keeps the proceeds of his continued naked shorting.
A good question for the SEC would be, "Seeing as how the companies that failed never got the proceeds of the sale of stock over and above their issued and outstanding, but the market makers did, isn't the SEC allowing actual fraud to take place, and condoning it by the creation and continued existance of this rule?"
Like it or not, the SEC has allowed securities fraud to run rampant in the OTCBB and Pink sheet stock markets by simply looking the other way and allowing the market makers to target the OTCBB and Pink sheet markets as a source of huge amounts of cash, literally stolen from investors by the third party creation of shares by an entity other than the the issure - the company.
This rule is nothing less than blanket permission by the SEC for market makers to become the issuers of company stock, no matter what the company's official authorized and issued amounts are.
And that, my friends and fellow investors, is securities fraud on a scale almost beyond comprehension.
posted
I noticed some one wanted to start new thread - no way, this thread has so much valuable information, not just small talk, but PRs, comments, arguments - you name it. SO LETS KEEP THIS THREAD GOING!
On the other hand, I can see that we all working as a team. I could not help seeing how some of you actually telling rickpic to buy some shares so he is not left out. This is very nice - and I think being and working as a team, we will be rewarded on the end.
And lastly, my mom was reading my astrology back in January of this year, and mention that by the end of this year I will have a lot of money. I did not take this to my heart then, but now I am more and more starting to believe that she might be right!
Good luck to all of you, and remember if you cash big, start looking for someone professional to reduce your taxes (like Debi :-) She is smart cookie around here and very generous).
------------------ 'Alone we can do so little; together we can do so much.' - Helen Keller
posted
[QUOTE]Originally posted by TradingWizard: [B]I noticed some one wanted to start new thread - no way, this thread has so much valuable information, not just small talk, but PRs, comments, arguments - you name it. SO LETS KEEP THIS THREAD GOING!
On the other hand, I can see that we all working as a team. I could not help seeing how some of you actually telling rickpic to buy some shares so he is not left out. This is very nice - and I think being and working as a team, we will be rewarded on the end.
And lastly, my mom was reading my astrology back in January of this year, and mention that by the end of this year I will have a lot of money. I did not take this to my heart then, but now I am more and more starting to believe that she might be right!
Good luck to all of you, and remember if you cash big, start looking for someone professional to reduce your taxes (like Debi :-) She is smart cookie around here and very generous).
posted
MM's that's all i hear...... Their pps is low because their Market CAP is low and their OS is HIGH. I think they are already overvalued at .0004. We'll see monday when the bottom drops off and it's back down to .0001. Let me have it......
Posts: 516 | From: Worcester,MA,USA | Registered: Dec 2003
| IP: Logged |
posted
Your an idiot,your just bashin' to be bashin' ,and your not even any good at it V.
Posts: 2634 | From: The highway | Registered: Feb 2004
| IP: Logged |
posted
Yeah and the munchkins are operating the heavy equipment. Well I hope you people don't need a house to drop on you before you see this for what it really is SCAM....PERIOD
Posts: 516 | From: Worcester,MA,USA | Registered: Dec 2003
| IP: Logged |
posted
Well, like many people on here... I knew this was a WAY OUT THERE LONGSHOT before I put my first nickel in... I'm only in for $200 bucks... if it goes nowhere, is that really a big loss? if it flies, then I'm glad I'm in.... I think many people are playing this one the same way... is that really worth bashing or screaming "scam" constantly? You could be right, but so what? everyone knows to tread this one very lightly... and if they don't, and they didn't do their DD, then they can just chalk this up to a lesson...
Posts: 1885 | From: Tampa, FL, US | Registered: Mar 2004
| IP: Logged |
posted
Do you think they would be going thru all this trouble for their health?Even if all they have is micro's their is still a world-wide market for those.From road reconstruction to grinders.
[This message has been edited by highwaychild (edited June 05, 2004).]
Posts: 2634 | From: The highway | Registered: Feb 2004
| IP: Logged |
quote:Originally posted by highwaychild: Your an idiot,your just bashin' to be bashin' ,and your not even any good at it V.
I am not bashing to be bashing. (add G to end of bashin)(You're means you are not your) I have my opinions and I will voice them. This is America and freedom of speech as far as I know is still written in our constitution.
Click your ruby slippers together and you will probably find that kimberlite pipe that UC is looking for.
quote:Originally posted by vado: MM's that's all i hear...... Their pps is low because their Market CAP is low and their OS is HIGH. I think they are already overvalued at .0004. We'll see monday when the bottom drops off and it's back down to .0001. Let me have it......
let you have what? a loan .shouldn't be to hard for us cmkx believers give us a few weeks im sure we can come up with it
posted
I just have a feeling that if the stock goes up to 25 dollars and this thread still keeps going, the 'very welcome basher Vado' will still say scam. Come on Vado, wake up and smell the coffee and get into the game as all of us. We are all here for the money, and if you not in and keep comming back, you better waste your time somewhere else. We all did our DD and if we loose we know what we will loose!!!!
------------------ 'Alone we can do so little; together we can do so much.' - Helen Keller
quote:Originally posted by TradingWizard: I just have a feeling that if the stock goes up to 25 dollars and this thread still keeps going, the 'very welcome basher Vado' will still say scam. Come on Vado, wake up and smell the coffee and get into the game as all of us. We are all here for the money, and if you not in and keep comming back, you better waste your time somewhere else. We all did our DD and if we loose we know what we will loose!!!!
If this stock goes up to $25.00...I will kiss your boots. I don't see that ever happening. I just like to stir things up a little here on the CMKX board.
quote:Originally posted by vado: If this stock goes up to $25.00...I will kiss your boots. I don't see that ever happening. I just like to stir things up a little here on the CMKX board.
I like you guys a lot.
Vado, this is the nicest thing I every read from you. So along with Upside you are invited to the party! :-))) I too wished you own some shares so you are not left out if it goes for the up ride!!!!
------------------ 'Alone we can do so little; together we can do so much.' - Helen Keller
posted
Vado if you take the $28 you took to get out @ .0001 and reinvested @ .0004 you would still have 70,000 shares.If you would have just stayed in with your $50 you would be in with a 1/2 mil @ .0004.Whats wrong with that?
Posts: 2634 | From: The highway | Registered: Feb 2004
| IP: Logged |
posted
We are issuing a Stock P r o w l e r Watch advisory for CMKM Diamonds, Inc. http://www.casavantmining.com trading on the pink sheets under the ticker CMKX. The stock closed Friday @ 0.0004 on volume of 3.6 billion shares. We believe that should the company be successful with its Carolyn Pipe drilling operations in the Fort a la Corne, Saskatchewan area shares of CMKX could rocket much like what happened recently with another highly speculative pink sheet stock, QBID. A $100 investment in QBID before it took off brought some investors a return as high as $28,000!!!
[This message has been edited by Booty Quest (edited June 05, 2004).]
posted
Stock P r o w l e r dot com picked Bibo as their monthly pick, but issued the watch on CMKX. This site is highly successful and many follow them religiously. Check their record on their site. And watch Bibo on Monday.
Posts: 1210 | From: Virginia | Registered: Feb 2004
| IP: Logged |
posted
I have 52 million shares, purchased a month ago at .0001...I hope this thing goes to the moon! But,, all this talk about .50 by august is just not going to happen..That would make this company worth more then INTEL...If she goes to 1 or 2 cents,,,I'll be gone with my half to a million dollars.......
Posts: 9 | From: ocean township | Registered: Apr 2004
| IP: Logged |
quote:Originally posted by emediamethod: I have 52 million shares, purchased a month ago at .0001...I hope this thing goes to the moon! But,, all this talk about .50 by august is just not going to happen..That would make this company worth more then INTEL...If she goes to 1 or 2 cents,,,I'll be gone with my half to a million dollars.......
WELCOME TO THE 50+ MILLION CMKX KIDS CLUB
________________________________________ HOLDING ALMOST 52 MILLION CMKX SHARES
quote:Originally posted by Booty Quest: Stock P r o w l e r dot com picked Bibo as their monthly pick, but issued the watch on CMKX. This site is highly successful and many follow them religiously. Check their record on their site. And watch Bibo on Monday.
THOSE RECORDS WERE POSTED BY SOMEONE LIKE US. I'LL BET THEY MAKE SURE THEY'RE IN BEFORE THEY EMAIL YOU THE PICK OF THE MONTH.
CMKX IS THE PICK OF THE MONTH FOR JUNE AND QBID WILL BE FOR JULY
quote:Originally posted by fjean: THOSE RECORDS WERE POSTED BY SOMEONE LIKE US. I'LL BET THEY MAKE SURE THEY'RE IN BEFORE THEY EMAIL YOU THE PICK OF THE MONTH.
CMKX IS THE PICK OF THE MONTH FOR JUNE AND QBID WILL BE FOR JULY
What?!!! You are WRONG! Simply go to their site- Stock P r o w l e r dot com. Nobody emailed me.
[This message has been edited by Booty Quest (edited June 06, 2004).]
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
