the key to this game is demanding the certificates. Anyone who requested them and not yet received them should make additional phone calls. Have your attorneys call. Speak to the president of the brokerage firm. Put pressure on. Demand the certificates federal expressed.
I found this thread a few days ago and read quite a bit of it including Ellen's Newbie postings.
I would love to participate in a short squeeze but I am not sure that this is the situation here. I wonder about the following:
Who is holding the naked shorts?, Everyone rants and raves about the evil market makers. However, the letter from Morgan says that it is a different group. The MM's make a nice bit on the spread and by selling into the rallies and buying on the way down.
I believe the Reg S shares are ready to come on the market as they were issued about a year ago. Could it be that the Reg S holders are shorting their own shares and expect to cover when they drive the price down? I understand that this is not an uncommon practice in Reg S deals.
I understand that insiders can issue themselves about 1,000,000 shares according to the S8. If so, this will result in a 50% (approx) dilution of shareholder value.
These questions have not been answered to my knowledge.
I am not being negative, just looking for information.
Kenneth: Unless the 13 million shares were granted some exemption, which I strongly doubt, when the company effected a 30:1 reverse split this reduced that number from 13 million to under 500,000 shares of "old" Reg "S" stock.
One thing that continually puzzles me about many of the exchanges on this thread relating to the daily trading volume is this. Why do so many of you insist that each and every trade except those which your cartel members place is somehow a MM short sale or maneuver? Today's volume for instance of over 180,000 shares certainly was not generated by your cartel either on the buy side or sell side. As of now the only actual posts concerning buys was one by someone who had to wait 20 minutes for his confirmation of a 1600 share buy. The other reference I've seen was an urging by one cartel member to the group for each of you to place a test buy order for 100 shares. If the cartel has say 200 members give or take a few that would account for 20,000 shares. Do you all really believe that the rest of today's volume is all shorting and trickery by MM's. Are there no other interested speculators, old pre-split shareholders, and yes independent short selling speculators that may not be trading this issue for their own personal reasons?
I know that this market place has historically been filled with unsavory characters on all sides of the fence but it seems a really big strtch of the imagination to accept your thesis.
In any event good luck and good profits to you all.
Kenneth: I don't claim to be an expert at anything, just been screwed by MM'S ever since I started investing, this is a different battle for me it's about the small investor getting a even playing field, and I will give all my support to the small investor to have a fighting chance against the good ole boys network and I do mean network, Since this ole boy is made poorer by the Good ole boys. Remember the MM'S of a feather flock together.
IMHO, the MM's are being very short sighted...They must have seen Willie Wonka far too many times...I WANT IT NOW!!! They continue to believe that if they lower the price enought times that we will go away. This is not the case. My father and I bought another 3000 shares today during the run up. It doesnt matter to us one iota that we paid $2.45 for that stock. We now own 69,500 shares of OVIS. We are not selling until our price objective is reached. The MM's should take a step back and look at what kind of hole that they have dug themselves in. Remember that the Wall Street mentality of the last 2 years is to buy the dips. If they want to lower the price in the short term then I will accept it because in a few more days they will realize what their constant shorting has done to them. I predict that by the end of September, requests for over 4million shares will be sent to the Transfer Agent. Play now...Pay later.
Trying to be objective here. Yes REG S, can kill a stock if there are more shares out there that investor's don't know about. Not that this is the case here. I support a level playing field, and will try to give all my moral support to anyone who is reaching for that goal,we can all have a better chance on a level playing field, every small investor should be reaching for that worthy goal.
TL: will check on the date of reg s. Do unregistered share fall under the split-it didn't change the # of authorized shares to my knowledge. Kenny PS: this really looks like shorting by reg s holders who are in safe-harbour PSS: even at 466,000 post split this is 15% of the outstanding shares holders should have to report to SEC if they have 5% PSSS: 1 for 30 split in jan 97; reg s in oct96