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I have contacted TSX regarding what I view as a pretty clear case of s/p manipulation. 23 July's Questrade action was repeated this morning, driving the price below .29/sh and then bidding it back up by the open. Jitney, BMO Nesbitt, Canaccord, TDS and Scotia seem to be the primary participants in suppressing the share price. I urge fellow shareholders to express their views to the regulatory agencies, as this is unconscionable behavior. I don't really know what management can do about this, but we can certainly make ourselves heard.
I have al;so contacted the regulatory authorities to look into the trading patterns of Jitney and BMO-Nesbitt. The more that do it, the better chance we have of being heard. GL.
Blevit read this to getter better understand what may be happening to our stock http://en.wikipedia.org/wiki/Naked_short_selling#Normal_shorting
I have put my shares up for sale between a $1(ST) to $ 2.50 (LT). They are actually for sale. This takes them out of the short pool, broker cannot borrow your shares to lend to a would be shorter. Broker makes commissions on the short sale plus interest on the margin. This is all through legal channels of course. It is my belief that Jitney and BMO are play tennis with the existing share float. This is a programmed short sale. Point of all this is to squeeze the retailer out of this play before CMM actually starts commercial production. The stock is being manipulated down and the BCSC, TSX-Venture needs to know about it. See Stockhouse for links BCSC TSX.V. Of course, it has to be proven that Jitney and BMO are manipulating the market but by complaining about it the BCSC might just stand up and take notice. We need to fight back anyway we can. These are 2 ways we can do it.
Its a good bet that the person(s) behind this [alleged] manipulation reads this blog. Part of the reason why I pointed out the pre-market drop in price on 23 July was to see whether the person would try it again-greed will out. Since only institutions and principals can trade premarket (before 8:00 am EST), it is a simple thing to watch the boards and see what happens. Sure enough, this morning, the same Questrade-originated block sale(s) went off again. It is my belief that the blackguards will now attempt to sell the company down to the .28/sh level, and then who knows? I watch the daily trading, on average, 6 hours a day, three to five days a week. It is quite clear to me that the big houses are attempting to drive the price down, whether by way of setting up a hostile bid or just driving us out. The charts are being carefully manipulated so that we don't get into either overbought or oversold territory. We have seen strong net purchases each day for the last three weeks on the institutional side, while at the same time the share price drops a little each day. We have only had four up days out of the last 13 trading days, despite net positive accumulation of shares by Questrade, Jitney, et al. And also despite news events that historically move shares forward with a 99.7% probability. I'm bloody tired of these banditti stealing us all blind and not paying for their crimes. We own a good company with a great deal of a future. To watch this happen, especially to you long-timers, and to a company that has worked so hard to get up to steam, just frankly pisses me off. Our only available legal response is to offer our shares for sale at a high price - and I really think it ought to be offered only above 2.00, and to complain to TSX until they get off their butts and put a stop to this. Otherwise we can only continue to buy on weakness and remove shares from these guys' portfolios. Thanks for the response, and good luck to all (almost). Mr. Sheridan has a reputation for being quite the bulldog. Perhaps we ought to encourage him to have a look as well.
From what I can see there is nothing wrong with what BMO has been doing. They have not been consistently buying and selling there own shares like Jitney has been doing lately. I am not sure about questrade's actions, hes a big player and has a lot of trades. I use them and I know a lot of big players that are with 124 but do not know who the trader is. We may have a case on 099 or Jitney but I can;t see them doing anything to BMO 009.
Looking at it from another angle. IMO, these are signs that knowledgeable individuals/groupings are gaming to ACCUMULATE the stock--BECAUSE THEY KNOW THE FULL VALUATION WILL BE SOME MULTIPLES OF PRESENT SP!! They are soaking up these shares shaken off from the weak hands at depressed prices and those who fell for it are likely to be those who:- 1) do not understand shorting/accumulation tactics 2) bought on margins (weak holding power) 3) do not understand current macro economics, quantitive easing, sovereign debts, gold and gold price trends etc etc etc 4) do not understand the value of CMM and its potentials near and long terms 5) sold out of fear (the typical chicken little types) .. cont
The beam of light for me was/is the deafening silence from the analyst tour. Putting the various elements together, looking at the response in the market of companies with similar or far less prospects than we have, the two premarket drops and the daily trading totals, and the out-of-kilter performance of our shares going back through early July, I come up with Occam's Razor-the simplest explanation is almost certainly the right one. While there may be nothing legally wrong with naked shorts, there is an entire body of law that addresses collusion. I certainly hope I'm wrong here, but the evidence available to me strongly suggests that Les Boys are acting in concert. One week, BMO is the biggest net seller, and TDS the biggest net buyer. Then the next week it reverses, or it might be that Scotia, Jitney or RBC take on the role. Its all there in the trading history, as well as the net result, which has been to steadily drive the price down. The downspike on July 23rd showed how far they could drop, and three weeks later, here we are. The drop level from this morning is of some concern, as a drop to under .30 would be disastrous for the company's reputation, possibly its capital lease and debt obligations as well. This is a tried-and-true manipulation technique, hard to detect and difficult to prove. It is also a primary mechanism for enabling hostile or uninvited takeovers. Study how Goldman Sachs sold out Ashanti Goldfields (its own client) to Anglo (also its client). Drive the price into the gutter and the takeover becomes cheap and easy. One thing is obvious-somebody is screwing with the company. It costs us nothing to collectively remove our shares from the shorting stash, and doesn't prevent us from selling either - just cancel the GTC order. If we get bought out on a spike, well so be it. Just let it be a good spike. Half the world is in an economic nightmare because of people like this, and we ought to be doing our part to stop them off. Its in our best interests, after all.
Wingfong- Well you're right, of course. "Accumulation selling pressure" is the technical term for what is going on now. Its just that the selling pressure is artificial, and possibly criminal.
Believe those who follow the blog and have absorbed the essense of all the postings by Prod05, Carib, Chillby, Rhump, Mike and many others (as well as Warren Buffet) are well equiped to see tro these manipulations and hold on. Anyway I had initiated the following actions:- 1) put up all my shares for sale at $2.50 2) issued a standing order to buy at o.35, 0.32, 0.29, 0.26, 0.23, 0.20 (every +-10% down from previous price)
For all we know, who can tell they are not using their left hands to sell to their right hands thus creating a dropping price scenerio to flush out the weak and uninitiated.
Well, I sure hope this works. Even better if I get my price of $4 - woo hoo!! Have it in to sell at that price until Sept 17th. Hopefully this share price manipulation nonsense is settled by then. GLTA Lorna
Chillby, Should Peter Ball be sounded off to take note? Thk a complaint by the "attacked/manipulated" company should carried more weight with the regulators
Chillby Is it possible a manipulator uses house A to sell and house B to buy at the depressed prices ? meaning they just want to create the scenerio of a dropping price trend but actually the volume is faked. Of course hoping that the frightened weak hands will sell off theirs?
I have informed Peter of my suspicions, and suggested that Mr. Sheridan be asked if he can form an opinion. Carib does have a strong and plausible point-though one that can be used equally as well for cover by illegal operators. If this is a result of people cashing out their debts, then they are either cash-strapped or too uninformed to understand what they have in hand. If this is a result of cashing out, then so much the better for us in the long run, because these creditors will be unable to quell momentum after they have sold out at such low prices. It just doesn't suss that creditors are selling out at this rate and at this price level, given what is happening at Lamaque. The IRR on this company at full production far exceeds the majority of available investments. Personally, I want some clarity on this issue, as it determines our buying philosophy going forward. If this proves to be manipulation (and if it can ever be proved), then we are protecting our portfolios by setting the far-out sales. We'll see right away if we get broad participation by the shareholders. If I'm a paranoid (always, where money is concerned), then we'll hit bottom somewhere soon and start up the path.
22 comments:
I don't know if it will work, but I posted over quarter million shares to sell at $1.00. he he. Come and get them.
What does this mean?
My shares are all up for sale, if one wants to pay $ 2.50. Good Luck!
I have contacted TSX regarding what I view as a pretty clear case of s/p manipulation. 23 July's Questrade action was repeated this morning, driving the price below .29/sh and then bidding it back up by the open.
Jitney, BMO Nesbitt, Canaccord, TDS and Scotia seem to be the primary participants in suppressing the share price.
I urge fellow shareholders to express their views to the regulatory agencies, as this is unconscionable behavior. I don't really know what management can do about this, but we can certainly make ourselves heard.
Why do you feel this is s/p manipulation? Can you post todays trades?
I have al;so contacted the regulatory authorities to look into the trading patterns of Jitney and BMO-Nesbitt. The more that do it, the better chance we have of being heard. GL.
If you could please explain what you mean I would greatly appreciate it.
Hey rhump & chillby
What should I do to help our cause,
and how do I do it?
Cheers
Blevit read this to getter better understand what may be happening to our stock
http://en.wikipedia.org/wiki/Naked_short_selling#Normal_shorting
I have put my shares up for sale between a $1(ST) to $ 2.50 (LT). They are actually for sale. This takes them out of the short pool, broker cannot borrow your shares to lend to a would be shorter. Broker makes commissions on the short sale plus interest on the margin. This is all through legal channels of course. It is my belief that Jitney and BMO are play tennis with the existing share float. This is a programmed short sale. Point of all this is to squeeze the retailer out of this play before CMM actually starts commercial production.
The stock is being manipulated down and the BCSC, TSX-Venture needs to know about it. See Stockhouse for links BCSC TSX.V. Of course, it has to be proven that Jitney and BMO are manipulating the market but by complaining about it the BCSC might just stand up and take notice. We need to fight back anyway we can. These are 2 ways we can do it.
done, my BMO portion set at $2 sell
Ron
Its a good bet that the person(s) behind this [alleged] manipulation reads this blog. Part of the reason why I pointed out the pre-market drop in price on 23 July was to see whether the person would try it again-greed will out. Since only institutions and principals can trade premarket (before 8:00 am EST), it is a simple thing to watch the boards and see what happens. Sure enough, this morning, the same Questrade-originated block sale(s) went off again. It is my belief that the blackguards will now attempt to sell the company down to the .28/sh level, and then who knows?
I watch the daily trading, on average, 6 hours a day, three to five days a week. It is quite clear to me that the big houses are attempting to drive the price down, whether by way of setting up a hostile bid or just driving us out. The charts are being carefully manipulated so that we don't get into either overbought or oversold territory. We have seen strong net purchases each day for the last three weeks on the institutional side, while at the same time the share price drops a little each day. We have only had four up days out of the last 13 trading days, despite net positive accumulation of shares by Questrade, Jitney, et al. And also despite news events that historically move shares forward with a 99.7% probability.
I'm bloody tired of these banditti stealing us all blind and not paying for their crimes. We own a good company with a great deal of a future. To watch this happen, especially to you long-timers, and to a company that has worked so hard to get up to steam, just frankly pisses me off.
Our only available legal response is to offer our shares for sale at a high price - and I really think it ought to be offered only above 2.00, and to complain to TSX until they get off their butts and put a stop to this. Otherwise we can only continue to buy on weakness and remove shares from these guys' portfolios.
Thanks for the response, and good luck to all (almost).
Mr. Sheridan has a reputation for being quite the bulldog. Perhaps we ought to encourage him to have a look as well.
From what I can see there is nothing wrong with what BMO has been doing. They have not been consistently buying and selling there own shares like Jitney has been doing lately. I am not sure about questrade's actions, hes a big player and has a lot of trades. I use them and I know a lot of big players that are with 124 but do not know who the trader is. We may have a case on 099 or Jitney but I can;t see them doing anything to BMO 009.
Looking at it from another angle. IMO, these are signs that knowledgeable individuals/groupings are gaming to ACCUMULATE the stock--BECAUSE THEY KNOW THE FULL VALUATION WILL BE SOME MULTIPLES OF PRESENT SP!!
They are soaking up these shares shaken off from the weak hands at depressed prices and those who fell for it are likely to be those who:-
1) do not understand shorting/accumulation tactics
2) bought on margins (weak holding power)
3) do not understand current macro economics, quantitive easing, sovereign debts, gold and gold price trends etc etc etc
4) do not understand the value of CMM and its potentials near and long terms
5) sold out of fear (the typical chicken little types)
.. cont
The beam of light for me was/is the deafening silence from the analyst tour. Putting the various elements together, looking at the response in the market of companies with similar or far less prospects than we have, the two premarket drops and the daily trading totals, and the out-of-kilter performance of our shares going back through early July, I come up with Occam's Razor-the simplest explanation is almost certainly the right one.
While there may be nothing legally wrong with naked shorts, there is an entire body of law that addresses collusion. I certainly hope I'm wrong here, but the evidence available to me strongly suggests that Les Boys are acting in concert.
One week, BMO is the biggest net seller, and TDS the biggest net buyer. Then the next week it reverses, or it might be that Scotia, Jitney or RBC take on the role. Its all there in the trading history, as well as the net result, which has been to steadily drive the price down. The downspike on July 23rd showed how far they could drop, and three weeks later, here we are. The drop level from this morning is of some concern, as a drop to under .30 would be disastrous for the company's reputation, possibly its capital lease and debt obligations as well.
This is a tried-and-true manipulation technique, hard to detect and difficult to prove. It is also a primary mechanism for enabling hostile or uninvited takeovers. Study how Goldman Sachs sold out Ashanti Goldfields (its own client) to Anglo (also its client). Drive the price into the gutter and the takeover becomes cheap and easy. One thing is obvious-somebody is screwing with the company. It costs us nothing to collectively remove our shares from the shorting stash, and doesn't prevent us from selling either - just cancel the GTC order. If we get bought out on a spike, well so be it. Just let it be a good spike. Half the world is in an economic nightmare because of people like this, and we ought to be doing our part to stop them off. Its in our best interests, after all.
Wingfong-
Well you're right, of course. "Accumulation selling pressure" is the technical term for what is going on now. Its just that the selling pressure is artificial, and possibly criminal.
..cont
Believe those who follow the blog and have absorbed the essense of all the postings by Prod05, Carib, Chillby, Rhump, Mike and many others (as well as Warren Buffet) are well equiped to see tro these manipulations and hold on.
Anyway I had initiated the following actions:-
1) put up all my shares for sale at $2.50
2) issued a standing order to buy at o.35, 0.32, 0.29, 0.26, 0.23, 0.20 (every +-10% down from previous price)
For all we know, who can tell they are not using their left hands to sell to their right hands
thus creating a dropping price scenerio to flush out the weak and uninitiated.
Well, I sure hope this works. Even better if I get my price of $4 - woo hoo!! Have it in to sell at that price until Sept 17th. Hopefully this share price manipulation nonsense is settled by then.
GLTA
Lorna
Chillby,
Should Peter Ball be sounded off to take note? Thk a complaint by the "attacked/manipulated" company should carried more weight with the regulators
Chillby
Is it possible a manipulator uses house A to sell and house B to buy at the depressed prices ? meaning they just want to create the scenerio of a dropping price trend but actually the volume is faked. Of course hoping that the frightened weak hands will sell off theirs?
Chillby
can't imagine this game is easy or possible for them afterall
Finskiy and Scola has control of +-50% right? Your view please
I have informed Peter of my suspicions, and suggested that Mr. Sheridan be asked if he can form an opinion. Carib does have a strong and plausible point-though one that can be used equally as well for cover by illegal operators. If this is a result of people cashing out their debts, then they are either cash-strapped or too uninformed to understand what they have in hand. If this is a result of cashing out, then so much the better for us in the long run, because these creditors will be unable to quell momentum after they have sold out at such low prices. It just doesn't suss that creditors are selling out at this rate and at this price level, given what is happening at Lamaque. The IRR on this company at full production far exceeds the majority of available investments.
Personally, I want some clarity on this issue, as it determines our buying philosophy going forward. If this proves to be manipulation (and if it can ever be proved), then we are protecting our portfolios by setting the far-out sales. We'll see right away if we get broad participation by the shareholders. If I'm a paranoid (always, where money is concerned), then we'll hit bottom somewhere soon and start up the path.
Finskiy and Scola, at full exercise, control around 44% of the stock.
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