posted
Thanks Rickpic. I missed the TV documentary on naked shorting and want to get a better grasp on what it really is and isn't.
Posts: 415 | Registered: May 2005
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posted
Let's all ask for hard copy certificates.... I'm willing to lose liquidity to screw the illegal activity!
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
Pick em you really don't lose liquidity other than the time it takes to get phyical possession of the cert. Once you have the cert, walking into any Scottrade office will allow you to turn the cert into tradeable shares in a day!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
Make sure to get the official stuff. Anybody familiar with BCIT (I'm sure you are) my father in law bought some and now he does not know if he will be getting any shares or not because of the same thing. People had made issued false certificates which is what the naked shorts are doing basically if I understand it right. Isn't that correct Ricpic?
who exactly can do a naked short? a market maker? a "broker dealer" what is the job title or whatever.... obviously we can't short pink sheets ourselves through a broker.... who are they selling short to? They can't collect any $$ unless they actually sell shares to someone... and if they sold to me lets say, I have the shares in my account, and I can sell them, so how are they not "real".... asking for certs forces them to do what?
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
That was a very rare incident and took some very creating crooked thinking to pull off! The certs you will get of this company would be real! That company was very dormant and thats how they played the fake sale of the company and got the false shares into the market! Somehow I don't see that happening again anytime soon!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
pick em I would think that informing the rest of the stock market community online about the value of the company would work more in your favor!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
Lol what a great day for this stock. Just kidding guys, hope you make bank on this one. I am having flashbacks of BCIT all over again. Luckily, Ameritrade wouldn't let me buy the stock or I would be sitting with BCIT and no money.
Posts: 1254 | Registered: Aug 2005
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Ricpic I'm sure you are probably right, I'm just saying that if you want to take the sure way then get the certs and have them verified by the company. Isn't that the way it would be done?
2nd note - not trying to play on anybody's misfortune because I have done it several times. Chadsly I had to laugh when I read your message "I must be the last one to get in at .009". That's probably why it went down haha just kidding!
If you look at the line where BCIT went straight down when they were undervalued the line was almost identical as this one when they went down. BCIT claimed that they were way undervalued too. If I had free funds I would have been in at .008 or .009 as well. I think that whoever is in this will be glad they made the move once they get the audits in. I hope the best to you all in this one. If CWMF takes off with the split coming up I will definitely have some funds in here. Talk to you soon!!!
posted
All I am saying Ric is to look at where BCIT dropped straight down in price. Later the CEO said that they were way undervalued. If you look at LFWK the drop off is straight down just like BCIT and the CEO in LFWK is saying the same thing and I think that he is telling the truth.
posted
BCIT had naked shorts. This stock has naked shorts. Thus that is my comparison. Very similar in activity, graphs, and both were easy to move.
Posts: 1254 | Registered: Aug 2005
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posted
My problem is the comparison to a stock that was halted or at least that brockers refuse to trade and this company! 1. I don't think its fare. 2. Is the comment, ment to scare those who bought shares today! 3. There are 1000s of shorted stocks that are not halted that you could have compared this one to. 4. Other than "good luck" what good have you had to say on this thread? 5. You said you were not buying it earlier so why are you posting on the subject anyhow?
Now I have $7k in this as of today and I very well have something to protect, so if the negative comments keep coming! So will I!
All the DD that has been done here looks pretty good to me and others. A Google search of the CEO's name reveals some great positive articals about him and his caricter. His web site shows the great finished product the company puts out! The O/S it low and it looks to me like the cash flow is high! Whats to bitch about?
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
Ric - I don't think that LFWK is a bad deal. I think that you are reading me wrong. What happened with BCIT is not in my mind going to happen with these guys. I just made the statement that I thought the CEO's had a good reason to state why the companies were undervalued. I think that is a good thing for the investor. I would have no problem with being in these guys but I am loaded up on CWMF right now and I can't. I was trying to figure out who you guys were talking about in the other thread and then when you started this thread I came in to see what good news came from. I did not mean any ill regard. I just wish I had some of these guys. I'll just keep the comparison out. I hope you have a great ride with these guys. I am not into bashing anybody and that's the truth. There were other guys asking about getting certs and thats the only reason I responded the way I did. So everybody hear me. I LIKE LFWK!!!!
quote:Originally posted by rickpic: My problem is the comparison to a stock that was halted or at least that brockers refuse to trade and this company! 1. I don't think its fare. 2. Is the comment, ment to scare those who bought shares today! 3. There are 1000s of shorted stocks that are not halted that you could have compared this one to. 4. Other than "good luck" what good have you had to say on this thread? 5. You said you were not buying it earlier so why are you posting on the subject anyhow?
Now I have $7k in this as of today and I very well have something to protect, so if the negative comments keep coming! So will I!
All the DD that has been done here looks pretty good to me and others. A Google search of the CEO's name reveals some great positive articals about him and his caricter. His web site shows the great finished product the company puts out! The O/S it low and it looks to me like the cash flow is high! Whats to bitch about?
I think you are looking to point the finger at someone just because someone has a different view than yours. Bottom line is these threads are for everyone just like the stock is. Everyone including myself has an opinion and last time I checked freedom of speech is still permitted. The only one who is bitching is yourself. BCIT is a fair comparison in my book and if you don't like it then ignore it. There is no scape goat here and suck it up as this was your big mystery play that you wanted. I tried to buy the stock today, it just didn't hit my price so take a chill pill and stop going into spasms over others opinions.
Posts: 1254 | Registered: Aug 2005
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posted
the 392K freely traded was part of a private placement to raise $1 million. It's still open until 05/06 and for accredited investors in TX.
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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posted
There are essentially 3 possibilities why the PPS didn't jump through the roof:
1. Dilution 2. Naked shorting by MM / hedge fund 3. Selling of restricted shares
In order for us to find out what to do next, we need better information about the share structure. For instance, if the float is very low (smaller than today's volume), we could cause a short squeeze by requesting paper shares delivered; if the float is much higher it may not make sense.
I already sent an e-mail to their TA, requesting the float and outstanding shares for last Friday (Sept. 16) and today (Tuesday Sept.20), but it was after hours and they haven't replied yet. Could someone call them tomorrow morning and ask for the same information:
Transfer Online, Inc.™ 317 SW Alder Street, 2nd Floor Portland, OR 97204
Phone: 503.227.2950
Hours of operation: Monday through Friday 8am to 4:30pm Pacific Time
quote:Originally posted by rickpic: 5.131m volume NICE!
Care to tell me how they get their recent 8+mil volume with a float of only 392,000? Doesn't make sense.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Look folks, if the true float is 392,000 then 8.9 mil in volume today is 22.7 times the true float if my calculations are correct. Something is mighty wrong.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
If you want to compare it to something then Global Crossing is a closer similarity not BCIT.
BCIT was were someone sold false certs on the market. It wasn't really a naked short position. It was were someone tried to take over a company by issuing illegal certs. Now after this was figured out then they needed to figure out who holds real certs and who owns the illegal certs. Thats why they were halted. There really is no comparison unless you can prove that someone is issuing false certificates.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
I am well aware of how naked shorting works and how it is done. Problem here is it is much, much too far out of line even at the worst examples.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
float can't be 392K period. naked shorting is very real & harms every penny trader & company but to think the bad guys would trade 22X's the float is foolish. they are greedy not completely stupid. now maybe if it was 1 mm & 1 trader from that mm & he had a serious crack habit...lol
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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bill, that's the only other possibility. Wish I knew exactly what the float is.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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