The really ironic thing is there is no way I should have been able to deduce that it would hold $6 at 11:00 a.m. and that we would probably go sideways all day but for the endless manipulation of our share price. If we ever start trading on fundamentals, I suspect I'll become completely lost.
The toughest problem I've been facing is trying to diversify. Every other company I look at seems to have less going for them than SGYP by far. Their drugs barely work, they are all systemic, and the cures seems as bad as the diseases for many. SGYP's pipeline is simply amazing. The last company presentation really made me understand that these guys are excited about SP333 and it's anti inflammatory properties for UC. We may need to wait to do a phase II on sp333 for UC before sale. If it worked out, we would step out of IRWD's shadow. We would not simply be best in breed, we would have something no one else has and everyone wants. I'm beginning to wonder why they chose to do the OIC trial first. If the data is good in the next couple of months there will be no stopping us. The fact that we're well managed is simply icing on the cake. Where else are you going to put your your money at $6 with a good chance of $26 within 12 months?
Don't try to time the trade to the cent or you'll miss it. Sure we might go sideways today, but if you guys start to step in, you could turn it around. We bounced off $6 three times, how much security do you guys need?
I'm with Beton on this one. It would be pernicious of them to drop it on us now. Why set up such a smart play and then use it like a hammer for no reason (don't need the cash). Made me think for a minute, but have to say I don't think so.
Aany, this will probably prove to be the most meaningful post of the day ( but I don't know if bouncing off it twice in one day counts). Looks like six is the new five. We bounced off that three times before we worked our way higher. It's much harder to call the up-days than when we were being shorted. When you move 40 cents a day up and down it just makes it tough to call tomorrow. Sure looks like we have someone supporting $6 though. $6.60 seems to be sell time from what I read on pulse. Have heard more than one trader curse himself for missing $6.60 twice. People will load up here (seeing the tute support) at worst, we'll go sideways for a few days, then MM's will walk it back to $6.60. But I think it's going to be tough to break $6.60, (short term) because of momentum traders. They're not going to "miss" $6.60 again. I would rather we go sideways at $6.60 and consolidate rather than have the MM drop us to $6 to make big commissions. But hey, where would we retail sheep be without these masterful shorts and and MM's controlling our financial fortunes and futures.
When they swing the price around, up or down, you see those two and three cents spreads. They'll do anything to keep the volume flowing at these spreads. Don't forget they make their money on the spread. They won't let us sit at a price, any price, with our normal volume because the spread tightens and the volume drops. I'll be very glad when we routinely trade a a couple of million share a day. Some of this nonsense will stop!
The is a direct result of the failure of our over allotment due to shorts screwing it up. I've mentioned this before. We never got the last 30 million we needed. I'm hoping the market takes it like IRWD's offering, no big deal. I think you get hurt when you need the cash, and we don#$%$ also not clear to me if this will be drawn down when needed at market price. Seems so, but maybe someone more clever can lay it out straight. But you don't want to be low on cash when you're negotiating for sale in August or September. We can't need big pharma cash and negotiate with a big stick at the same time. Hate it but I'll eat it. Guess we'll get the reaction soon, like tomorrow.
All I can say is that I sold Inhibitex at $3 after having bought in at $2 and held it for a year. Got tired of waiting. Five days after I sold it went to $5, a few weeks later is went to $9 and a couple of months later I hit the call sign to see what it was doing and the chart was stuck at $26 post buyout. Cerrone sells his companies. I've been through it. I won't make the same mistake twice. I say we get bought out for three times the share price at sale. When we get to $9, think $26 in matter of months. We will sell before clasp shares are released. The whole clasp deal tells you that Gabe wanted those shares locked up until sale. He wants us sold before clasp unlocks. IMHO
Got no where to go but up with my price targets. Why listen to Aegis when I've clearly got my finger on the pulse of this company!
Finally, a Beginner-level basher (also known as a Pitchfork) would attempt to create confusion in the room by distracting other posters with satire, name calling and pointless arguments. The idea was to make sure no serious discussion of the stock could take place. A Pitchfork was usually a basher, but not always.
Confessions Of A Paid Basher
I was a Serpent basher, because I am known for effective bashing based on solid facts and truth. I was paid a base wage of $18 an hour for my services. I was given a $1.25 bonus for every decent quality post over 100 per day as well as a monthly bonus of $100 for every penny the stock had dropped from the previous month. I was also paid a bonus for bashing on weekends. While this may not sound like much, I made a decent, though dishonorable, paycheck plus a nice Laptop with free wireless internet connection. Now you know why I bash all the time.
I’ve worked on OSTK, OVTI, DNDN, CRWN for a few months now. In addition to the tonybalokey alias, I’ve used a few others on several other boards as well. I’ve used so many aliases that I can not remember the monikers or the passwords. I honestly lost track of everything. I stuck with tonybalokey because it was the one that got the most play from you guys. Confessions Of A Paid Basher
In closing, I feel absolutely terrible about this. It’s just awful how I’ve been part of a scam designed to cheat honest, hard-working people out of their investments all for the
benefit of a few wealthy people who already have enough money to last a lifetime.
These greedy people MUST be stopped. That’s why I’m posting this before I leave.
I hope this confession can make up for my sordid deeds; I would urge everyone who reads this to inform as many people as you can. Only by shining the light of truth can we drive these rats back into the darkness from whence they came. Believe me, they don’t want publicity.
Good luck and I hope all of you the best in your investment endeavors. Less
Confessions of a Paid basher
By John VanTilburg
Today I want to come clean about something I feel very badly about. I cannot undo some of the things I have done, but hopefully this message will prevent other such occurrences in the future. I am a paid basher.
Yes, it is true. Today is my last day at this company; I’m moving on to a new job. I’ve realized that there are more dignifying jobs out there that can pay me equally as well. But before I go, I want to explain a few things because this just isn’t right and I won’t feel good about myself until I expose this sham. It’s hurt too many people and I don’t want it on my conscience anymore. I can no longer live with a lie.
I work for a company called Springfield Global Funds in Stamford, CT. Basically, it’s a Boiler Room much like the one in the movie of the same name. The idea behind my group is to bash the price of a company’s stock down low enough to where the group of investors who retained our company’s services can buy the stock really cheap and perhaps even take it over all together. Confessions Of A Paid Basher
What is that goal? Well, I am merely a cog in a much larger machine, so my bosses never really explained the big picture to me, but I’d say essentially, Shaddowwatch2oo3 was right. There are several companies who are quite familiar with Jim Bishop and Janice Shell and who are deathly afraid of them.
There are three types of bashers here at Springfield Global Funds: Advanced, Intermediate and Beginner. An Advanced-level basher (also known as a Silver Tongued Devil) would spread false or misleading information about the company. They would deal in facts, countering every longs post with articles, news reports and opinion surveys that gave a negative impression about the company.
An Intermediate-level basher (also known as a Serpent) would try to weasel their way into the confidence of longs and create doubt using rumor or innuendo. Less
I've had the phantom posts happen to me. Didn't talk about it hoping it might go away.
I'm screwed with capital gains after having added 20,000 shares in November 2013 at around $4. I'm praying for a stock deal that might let me pass through. Think I might have a chance? It does depend on how they structure a buy out isn't it?
First let me say that your well-reasoned response to my post is what makes this board rise above so many others. You also have me in a difficult position, as people who know me know that I never think the shorts have covered and are always lurking, so I hate being in a position of defending short covering. First, I would have to say that I think charting a stock like this doesn't work very often as a predictor of the future. This company has no earnings, but is solely catalyst driven. Price action of a stock like this flys around catalysts. It might work for large caps but this stock is so heavily manipulated by both shorts and tutes that I think the bull flag is almost meaningless. Second, I've always had problems with the idea that shorts would hold through data release and double down. It simply seems insane to me. Third, I think tutes load up without raising the price much. They trade like shorts: bring it down on a 100k then buy 200k for a net purchase of a 100k with no appreciable uptick to share price. The two 40 cent up days I'm reasoning involved some short covering. Maybe three million shares. Tutes could have accumulated the shares without raising it a buck. Further, although there are 8m shares short, we had 4m going into the big short move after the cash raise. So I think our short consortia only has about 4-5 million shares to cover. They could have put a real dent in that position in the last two big up days with covering. Felt like they stopped on Friday at about noon. Therefore, reasoned that the tutes don't want to accumulate at $6.60 so they have no interest in keeping it up. When traders saw that the $6.60 wouldn't hold with tute support, they sold to take profits. Think we will end up where the tutes want us, not where short covering got us. It's those two big up days that have me wondering. If it was tutes, you're right about the move. Bully for us if that's the case and we have some covering to look forward to. Tnx
LT, i hear you, but selecting the right participants is half the trick to getting good results. Wouldn't want to rush them on this one. In my mind there is no possibility of a sale before sp333 results, and they may do another sp333 for UC. I'd be willing to wait for that one. Have a good weekend.
Bet short interest is way down next reporting. As always, short interest is a fact not an opinion, so I'll just have to wait and see. I reason that covering doesn't form support and breeds selling by momo traders on such staggering price gains. Looks like we hold support over six. Next, consolidate and move higher to solid support above six. Look for $6.50 before data release, basically like we all planned before yesterday, and pry for good data. With the pop that could come from good data while the anticipation of sp333 results loom, I hesitate to guess what he price action will be, but the trading will be of the heart attack variety I would assume. Throw in sp333 results and you have price chaos and need an oracle to predict where this ends up,...and I do mean up!