Some fund selling today?
Sell blocks that drag DYP down today.
Still holding strong to my 93K+ shares - and put out GTC selling blocks at $8+ to prevent shares from borrowing for shorting.
It does not appear that shorts are the problem here. The biggest short interests increase is from Sep 15 to Sep 30
- from 169,024 to 416,605. If we look at the stock trading range in that time frame, more than 75% of the trading volume were traded at below $2.6. So, the shorts are loosing and many have covered as short interests reduced to 318,099 as reported on Oct 29. The huge drop in DYP price was caused by institutions sold out their positions from 9/13/2010 to 9/30/2010. Many funds have a policy of not holding stocks that drop below $5 and many funds sold for tax loss offset as their fiscal year ended on 9/30.
It appears that some new funds established a new position on 10/08 and 10/10 as DYP traded on heavy volumes: 1,765,100 and 1,342,100 and closed at $3.05 and $3.14.
Most recent buy happened 3 days ago where DYP close at $2.88 on 1,101,700 volume.
The real problem at the moment is the lack of buyers because of a pending SEC investigation. Looks like MMs are trying to accumulate cheap shares by manipulation. They can use dirty tatic like placing big buy orders say 50K at low asked price and repeatly put out small sell orders of 100 shares. Small investors with stop loss being taken out and individual investors are shaken into selling to fill the MM big buy orders at low price.
we long can only hope that DYP will issue a PR sooner or later with a new auditor to address the accounting issue. Until then trading volume will be low because buyers remain on the sideline and shorts also stay out since DYP has shown that it is trading near the bottom.
If it hasn't moved 6 months from now, you won't get $3. That will mean that the company hasn't filed, hasn't found an auditor and will likely have been delisted. Of all the China Small caps out there with an axe hanging over its head, this seems among the worst, but in fact, it's the best. This is like a superstar athlete having committed a few indiscretions with the ladies or caught smoking pot. Dumb move, but still the best at what he does. DYP has simply to come clean and get back to business.
putting GTC sell order is the best long investors can do to prevent their shares being shorted ! those shares has been sold by the crooks ...today they will be bought ! when our shares are locked because of the trigered GTC sell order...the crooks will sell their own shares to manipulate the share price !!
remember: we must know the value of our investment. WE bought DYP not because of the price of the share,but because of the value of those shares.
EPS > 1 USD/share, growth> 20% annualy, Book value > 6 usd and growing !!
then this is golden opportunity for smart investors...
DO not sell gold stock on the price of silver !! you will regret it few months later !!
so people already start regretaing !! their are not real investors, they are short term speculators...they will never make huge amount of money !!