Got my Buy to Cover order in for around $87.50 that will give me a 10% profit on 800 BABA shares. Thank you to the clueless who bid it up to almost $100.
Where was that big pop for ABAT that was SURE to come after the BABA IPO? After all... ABAT is an unverified supplier on Alibaba.
I bought my first 2000 shares of HL at $2.64 and the second batch of 2000 at $2.62. It closed at $2.64. I will buy up to 20,000 shares if it keeps dropping. It is hard to pick an exact bottom, but I can usually get amazingly close to being averaged in near the low with this method.
You have to be a little early or risk being left out and missing the bottom completely, but don't make your first buy your entire position and you will do much better.
I mentioned PAAS for hitman. It has held up "too good" and doesn't appear to be as much of a bargain as others.
I have never been a big fan of CDE. They are cheap for a reason, but could do well if you can catch a bounce off the bottom. I don't know a lot about ANV. I have only halfway looked at them. Every time I begin some serious DD, I quickly get the impression they are overvalued compared to their peers and don't go any further to understand them better.
Same with NG. They never looked compelling enough to look further. The chart says if they can't hold $3, you might be looking at $2.
Many of these small miners will come down to how well they can hunker down and conserve cash. I know HL will survive, but am not sure about some of the others.
Would like to see TGD hit a buck again like the last time I hyped them, but not sure if we will ever see those days again. They were able to still make a profit longer than some of the others. Haven't checked on how their financing with Sprott turned out.
So far HL is my only buy and I will wait until some others look like a crazy-low buy.
PAAS didn't come all the way back and is 20% higher than where I would buy them. HL is nicely-priced at a new 52 week low. Time to start nibbling there with this recent drop in metals.
Start watching your favorite miner and pick up some cheap shares. Save some dry powder for a capitulation crash, but you can begin taking your positions now and average down to the lows for easy money.
Physical metals are still the way to go for your long-term security. These are NOT get rich quick metals so have the proper time horizon. Going to take awhile to use up all the excess silver and gold will always trade for non-fundamental reasons. Inflation is already eroding your buying power if you are stuck with all your assets in Federal Reserve Notes.
Remember the example.... That silver dime in 1964 bought you a cup of coffee and it STILL does today. A silver dollar in 1964 bought you a meal just as a paper dollar did back then. Today, a paper dollar buys you one item on a dollar menu while a silver dollar buys you a nice sit-down complete meal.
=According to ABAT's internal audit
You can stop right there. According to ABAT's internal audit they still claimed over 8% of sales came from miner's lamps when that contract had ended long ago and they still listed Dongguan as "construction in progress" as of 12/30/2012 when it was completed in 2011. The numbers were fantasy. The thing that can be taken from that report is they said cash had dropped from over $100M to $7M and they increased debt on both Harbin and Wuxi while having to take out debt on brand new Dongguan. They also said they had to "restructure" in 2013.
Companies making money do not burn through all their cash while taking on new debt on EVERY one of their operating subsidiaries. That is the debt they chose to disclose to you. Who knows what promises Foo made and how much equity was transferred in order to keep the doors open.
I am more likely to believe the documents they gave Plaintiff attorneys stating they had no assets to pay a significant judgment than some made-up numbers placed on a Chinese website that had the whole intent of delaying Sutter from initiating a forced shareholder meeting. They gave him his chance to sell and get rid of him and he took it.
=POS, support is at 17.45.
Yeah, that could be close... I said $17.50 to $19.50 range for the next 18 months. I am still hoping for a capitulation crash down to $16. Almost hit $17.30 for a brief moment shortly after the open in Hong Kong last night. I'll buy all I can for a delivered price under $18.
It would be great if they can get the paper price lower for a few months and see some mines go on Care & Maintenance. The silver bulls don't want to hear it, but there is still too much supply each year. Industrial demand isn't picking up enough and there are a lot of ounces in weak hands that will be sold into the market with each small rise. Going to be years before the big pop, but it will happen eventually.
=I have to give YOU a failing grade as they KEEP failing
My target audience isn't the delusional who will never get a clue. I have no desire to "save" them. They are merely pawns in the grander scheme and do more to warn newbies to do some actual DD than anything I can say. I merely provide the rope and someone as clueless as truthwantsout hangs himself with it.
The vast majority of the world "gets it" regarding FAB as is indicated by the market cap. There will always be the mentally ill and the conmen who move the price a bit, but this is basically dead money now for years as legal activity plays out.
realdunce is still using terms incorrectly and can't comprehend what constitutes the various arrangements in China. You have no clue what you "own" and what you do not own.
# Abbreviation Names of Entity Date Formed
1 SIAF Sino Agro Food, Inc. 1974
2 CA Capital Award Inc. 2003
3 MEIJI Macau EIJI Company Ltd. 2005
4 APWAM A Power Agro Agriculture Development (Macau) Ltd. 2007
5 TRW Tri-way Industries Ltd. (Hong Kong) 2009
6 CS Capital Stage Inc. 2003
7 CH Capital Hero Inc. 2003
8 JHST or HU Plantation Jiangmen City Heng Sheng Tai Agriculture Development Co. Ltd. 2009
9 JHMC or Cattle Farm 1 Jiangmen City Hang Mei Cattle Farm Development Co. Ltd. 2012
10 SJAP Qinghai Sanjiang A Power Agriculture Co. Ltd. 2009
11 JFD or Fish Farm 1 Jiangmen City A Power Fishery Development Co. Ltd. 2011
12 HSA Hunan Shenghua A Power Agriculture Co. Ltd. 2011
13 SIAFS Sino Agro Food Sweden Aktiebolag 2013
Unincorporated Project Companies
# Abbreviation Names of Entity Date Formed
14 APNW or Wholesale Center 1 Guangzhou City A Power NaWei Trading Co. Ltd. China 2012
15 ZSAPP or Prawn Farm 2 Zhongshan A Power Prawn Culture Farms Development Co. Ltd. China 2012
16 EBAPCD or Prawn Farm 1 Enping City A Power Prawn Culture Development Co. Ltd. China 2011
17 EAPBCF or Cattle Farm 2 Enping City A Power Beef Cattle Farm 2 Co. Ltd. China 2011
18 Fish & Eel Farm 2 XinHui City Gao A Power Aquaculture Fishery Development Co. Ltd. 2011
All “Unincorporated Project Companies” are private companies formed in China with Chinese citizens acting as their legal representatives as required by Chinese law.
This is a cluster-f waiting to happen.
Not only did he blow his parents' money... he also conned his brother into his Chinese fraud stocks, too! The day the VVR report came out, he posted that they had all miraculously sold the day before. LMFAO! Yeah, right!
I know exactly what a VIE is. I have posted the exact interpretation from the FASB on these boards before. It all has to do with whether or not the entity needs to be consolidated in the financial statements. The simple way to think of it is the reporting entity needs to be the primary beneficiary even if they do not have a controlling interest in the equity or voting rights. As it relates to the discussion at hand, Chinese VIEs, the beneficial interest is obtained through CONTRACTUAL OBLIGATIONS and not through an equity interest.
I have taught you before the nuances of a WFOE, WOFE and VIE. A VIE is simply a way to circumvent Chinese law on foreign ownership. The Chinese courts have not ruled the VIE arrangements to be valid and the law is very specific that the managers of these Chinese operating companies owe a fiduciary duty to the CHINESE equity owners and NOT to the foreign entities that have the beneficial interests under the contractual arrangements making up the VIE agreements.
realdunce still can't comprehend why his ChiScams are all doomed and the legal reasons why he doesn't own an equity interest in ANY Chinese company... all he owns is a promise from people whose mission is to con him and destroy him.
Another realdunce gem from two days later on March 8, 2012:
"I own stock of quite a few Chinese companies these days. Some are clear winners. They will beat this thing and prevail. CCCL is one. I think SCEI could be a winner. CBEH. And SIAF has really adopted and embraced American culture. These companies take care of their shareholders."
CCCL, SCEI, CBEH
Look at how many DOLLARS they traded for when realdunce began buying them and how many PENNIES they trade for now. Look at all the accusations against all of them and how they responded. Over and over he backed scams, shams and frauds. At least he isn't like twisty and moves on eventually when the rest of the world has it confirmed the stock is a fraud. He just can't look objectively and see what 90% of the world has already figured out.
Realdunce on March 6, 2012:
"I bought 23,000 SIAF (new position)"
03/06/2012 0.645 0.66 0.63 0.63 (SIAF)
He began buying SIAF in the mid .60s and had a horrible investment for 2.5 years. Now that the fools bid it up to .75 for other than real, fundamental reasons he is going to tell you what a genius he is. SIAF gave a huge discount on some financing plus gave some warrants as a sweetener to a pump & dump firm to help "promote" them. Yet another game of musical chairs for realdunce. He is never last one out of the game. Just like ALTI, ABAT and many other stocks, he takes a huge loss, but gets out before the very end. Actually, he sold both ALTI and ABAT just as they headed into short-term pops. TOO danged funny.
He was pumping ABAT on the BCONQ board in March of 2011. One of the reasons I told him I didn't like ABAT was the huge run-up in short interest along with their financials not looking believable. I told him they looked prime for a short-attack. The VVR report came out about a week later. He was always too delusional to objectively evaluate stocks. Same thing with SIAF. Anybody who is objective can see many future problems down the road. They have been left alone because they are a nothing market-cap company, but as soon as they show an opportunity... the professional shorts are going to decimate anybody foolish enough to buy them without doing their DD.
SIAF went from a nothing company with inept management to one that has now gotten into bed with the toxic financiers. They are sunk, but don't know it yet. The realdunce track record speaks for itself.
=They have one ordinary VIE without contractual obligations.
LOL... that is the DEFINITION of a VIE! There is no "ownership" and you only "control" the operations through contractual obligations. You have been involved trading Chinese frauds almost exclusively for years and you don't even know what a VIE is yet? Unbelievable!
=Well? Lots of people calling me "The Money Maker" now.
LMFAO! If SIAF went to $5 on your remaining shares, you would still be way down on your Chinese "can't miss top ten picks" in the past 4 years. Your denial is just like the gambler plunking money into a slot machine every day. You claim how much you "won" with your one jackpot a year, but it doesn't come close to all the other losing days combined.
SIAF may have attracted a whole new class of manipulators from Sweden, but the fact remains it is yet another Chinese company with a murky list of related parties, joint ventures, partnerships and VIEs that nobody can follow. It is far from investment-grade. Good luck to anybody who rolls the dice on these stocks where you have no accountability and can be wiped out on a whim from the Chinese government, but please don't insult us with your investing prowess speeches when we have many years of history from your "Challenges" to show just what a failure you have been through the years.
Just as you bailed from ABAT and all your other Chinese frauds, methinks you are thanking your lucky stars and are mostly out of SIAF now. Just a few more clueless to con so you can sell the rest of your position and (hopefully) be done with Chinese shams and scams once and for all.
=IF ABAT PROVIDES NUMBERS
... and if monkeys fly out of your butt.
They not only won't pay the two million dollars plus to provide audited financials for the past 4 years, there isn't any firm that would sign-off on them. Their prior auditors got lucky and the case was dismissed when Pomerantz ineptly missed a filing deadline, but future auditors are on notice and know the numbers were fraudulent. They couldn't even complete the most simple of all audit procedures and verify cash. What makes you think they can get an auditor to sign-off on 4 years of unverifiable fantasy numbers?
"the longer you put this off the less time you will have for discovery."
Those are not the words from a judge that is going to rubber-stamp a dismissal. Remember, this is not a lawsuit by an individual or even a class of individuals AGAINST ABAT. This is a derivative lawsuit brought forth ON BEHALF of ABAT against the executives and directors who harmed the company. In my humble opinion... this judge is NOT going to allow Foo to slink away from all legal activity and begin bilking people again.
Why didn't ABAT go straight to $4? After all, they are an UNVERIFIED SUPPLIER on Alibaba.
You just can't make up what twisty will con these people into thinking. Even more amazing is they are stupid enough to fall for it over the course of many years despite all the times he was proven to be conning them.
How many times now have people sitting on their ABAT dead money watched others clean up while they failed to take part?
= Let's see, if I buy BABA at $93 and it goes straight to $200 it is a poor investment. Huh?
If you're playing Blackjack and hit 20 and pull an Ace it doesn't mean it was a good strategy. Investing is just like gambling... once in awhile you can do stupid things and be rewarded, but the vast majority of the time you will end up losing your bankroll.
I fear I am casting more pearls before swine. You are too clueless to understand risk-assessment. Have you read the BABA prospectus? I did. Go look at the 5 pages that discussed all the related party entities and VIE arrangements. Look at the loans to insiders and all the questionable transactions. Haven't you learned yet what happens when the head of a company treats it like his personal piggy bank? At least with ABAT you had the APPEARANCE shareholders were in control if they followed the rules. With BABA, you know upfront that shareholders have no control over corporate governance. The BABA prospectus even states clearly that Ma is not bound to act in the best interests of the company and there are no assurances he will do so. I'll go one step further... under Chinese law, it is ILLEGAL for him to act in the best interests of BABA shareholders and he is
REQUIRED to screw them to the benefit of the Chinese interests.
AMAZING D-Fs like you think these are acceptable terms to take a long position. But then again... you are still bent over grabbing your ankles waiting for Foo to "reward" you.
Poor, ballsy... he never will get it. BABA could go straight to $200 and it is still a poor investment. Investing is about minimizing risk... or at least making the possible reward worth the risk. Shareholders have zero say in how BABA is governed and they have no recourse if they decide to cut them out. If you are stupid enough to think that is investing... go for it. I started shorting around $95 and averaged up to a basis of $97 and change. Looking for a 10% profit today and I will cover.
The next trading opportunity I won't pass up on them is right before the lock-up period ends. I will short them the week before that, also., when people begin cashing out.
Making money from the clueless is so easy. I can't believe you have sat on ABAT for 4+ years and think you are so smart. Always were a D-F!
=Have you any clue what you are talking about.
=Do you really think Fou can just raise $100,000,000 in the US and walk away.
That has already been proven.
=ABAT raised the money and the shareholders do own the assets.
Half right. ABAT raised the money and once it went to China, it cannot leave without the approval of the Chinese government. How's that workin' out for ya? Show me just one of these frauds that have ever gotten a penny out of China.
=You really think China would walk right into the US raise billions of dollars and then just walk away.
Ummm... they already have. They laugh at how stupid we are and can't believe all they need to do is pay a little bribe money and our regulators will sell out their own citizens. BABA is another case in point. Nobody with half a brain would touch them as a legitimate investment, but they will fleece the clueless out of billions of dollars.
Are you really in such disbelief our country is run by people who commit treason every day in order to become rich? Open your eyes. Until China agrees to honor judgments from our courts, they should be forbidden from listing in our markets. Simple.
Yeah, baby! I love it when the small dealers call me to do a deal. He didn't have enough available cash to buy it himself so he gets a $5,000 finder's fee and the silver will be shipped directly to me. Asked me if I minded they were all one ounce bars! Last time I got all one ounce bars they were a collection somebody inherited and sold at spot. Included many rare silver art bars and the lot was worth at least twice spot price.
I'm still hoping it breaks through $18 for a close and heads towards $16, but more likely it will bounce. Think we will be range-bound between $17.50 and $19.50 the next 18 months, but silver will eventually take off. Keep accumulating when you can for long-term savings that won't get eroded by inflation.
Silver (and gold) are NOT get-rich quick vehicles so don't enter with false expectations. This is not for your short-term living expenses money you will need within the year, but buy all you can with spot under $18.
"Chairman Foo periodically offers Letters to Shareholders and Speeches regarding activity and conditions at ABAT."
Really? I checked the SEC's Edgar database again and did a search for any PRs from Foo. There aren't any as you claim. It is a violation of Reg FD to disseminate information in any other manner. Thank you for showing once more why the SEC needs to revoke them for their blatant disregard of the rules they agreed to.
=On 05/14/13 ABAT released the Limited Financial Report for 2012 stating net income $32,167,000
And yet cash dropped from over a hundred million to seven million and they increased debt on all three operating subsidiaries including new debt on their brand new facility. They were obviously losing money. They claimed a large part of revenue came from a product they quit selling two years earlier. They claimed margins 5X - 10X what others in their industries were experiencing for their commodity items. In fact, they claimed to have a higher margin than AAPL which sells proprietary products into markets that are still subsidized by the carriers so they don't have to compete on cost.
=Terms are listed on the website and include: Establishment of a Financial Reconciliation Committee and establishment of a Related Transactions Committee.
Sounds reasonable, huh? Foo REFUSED to go along with this and the judge therefore refused to accept the settlement. ABAT showed Plaintiff attorneys documents stating they had minimal assets and court docs clearly state the cases would not go further since there was nothing to collect when they prevailed.
What's wrong with these two statements?
1) Mrs.Guohua Wan is listed as Independent Director and the Chairperson of the Audit Committee.
2) As vice-President and CFO of ABAT
LMFAO! How can you be an INDEPENDENT director and CFO? There is nothing independent about her. She shamed herself being Foo's puppet and resigned the very day she was to verify cash.