All true and accounted for, except the claim that the insiders are buying. If they were they must file a form with SEC, unless you mean that the insiders are buying the company which is very possible.
enigma, this is not a case similar to some fraudulent Chinese companies. The company is not a fraud. I have visited the area and the operation is pretty much as reported. I have also investigated the chairman and the company management and their standing in the community and don't think that they are criminals. However, I think the game is being played as I have outlined or in a similar fashion. This game is actually the Wall Street style except in case of U.S. listed Chinese stocks they have much greater latitude.
Yes gocolts, I have always suspected a merger/buyout on the cheap involving the management and chairman's associates. They once announced negotiations on this matter when the stock had fallen below $2.00 and then the chairman withdrew and I have a post to this effect reproducing the company PRs. The lawsuit complicated and delayed the process. I have also suspected them and their associates being involved in bashing the stock and recycling it to depress the price. I also did not believed them in announcing the repurchasing of the stock which they did not follow through last time and will not implement this time either unless they issue lots of cheap shares in an acquisition which intends to transfer company cash and possibly cheap shares to their associates. In this case there will be dilution and further drop in the price which they may attempt to prevent by buying shares below $1.00. You must understand that after they accomplish what they want, they want the price to go up and not down and also to maintain their listing. That is my view on this company's crooked management and the trading behavior supports it.
picked up and additional block of ZA for $0.47 today. It has now reversed but I don't know if it holds. Also bought back some shares of ABAC.
It is very possible for these two stocks and many others to go much lower. I am accumulating them incrementally now because I believe the fall in the price is more due to the end of the year tax selling than to poor performance. Remember the stocks we bought last year for this same reason? Good luck buying tomorrow.
There is always the possibility of them going dark in which case you will not see a report or to complete a merger/buyout in which case there is no need for a report.
I just watched a program on Yahoo: "Energy prices collapse: The good, the bad and the ugly" by Aaron Task where it was claimed that the fall in the price of oil will help the consumers but that will be largely offset by loss of jobs in the energy sector. If this guy had a single course in introductory macroeconomics he would have known that what is happening is called "positive supply shock" and over all it will help the U.S. economy and all other economies globally with the exception of major oil producing economies. Not only transportation sector but most other sectors will benefit by facing a lower cost and may even channel their savings into other productive and job-creating activities. If the lower prices remain, both China and PME will benefit from this big time. I have yet to see a program on this channel where anyone better than mediocre serves as a pundit. I know they are all self-serving clowns but if they are going to make a case to influence the market they should at least get someone who has a little education or intelligence to make it for them. They don't sound much better than the "one-line" pumpers and bashers on these message boards. It is really sad to witness this degeneration; of how intellectually impoverished and/or how outrageously self-serving our politicians, economic and financial experts have become.
No enigma. I have no specific information about which company, if any, they plan to acquire and which one of his associates has an interest in it. But my statement is based on my own experience and how things work in such cases as well as the reason for the persistent low price. We shall know more when they implement their plan.
gocoltslionssuck, everything you say is correct, except your interpretation of low the short volume. These guys have recycled the stock down to this level by trading among themselves so you will not see a high short volume or SEC reports of selling or buying. My guess has always been a merger/buyout as the objective. They now claim they will be acquiring another company this month, but it seems to me that they plan to buy a company in which the chairman and his associates have an interest through transfer of cash and possibly cheap shares. In this way they will swindle the GURE shareholders, both those who paid high and were forced to sell cheap and those who are still holding but will not get the full benefit of the cash and profits.
vpg999, it may seem stupid to sell at these low bargain prices and when we know we shall see higher prices, but I was overloaded and still got 96,000 shares left. I buy and sell incrementally. I accumulate incrementally when the price is collapsing and while every basher makes fun of me; and also take out profit incrementally as the price rises while longs make fun of me. That is how I trade all my stocks in which I hold a significant position.
Fantastic. You got me badly "Exposed." The trade at $0.63 was cancelled so $0.64 was the low. Actually I had a bid for 5000 at $0.63 but it did not get filled but I thought that it had when I posted here mainly because I trade over a dozen stocks daily while attending other business including posting on this board. So if you want to call this a lie you are welcome. You got me exposed. But why do you have to keep changing your name again and again to carry on this task?
There is buying interest but I don't know how strong it is? We must also take into account all those cheap shares which would prompt some profit taking and slow down the rise. I added 5000 shares of XGTI at $1.14. It may come back down and I got another bid in place. I also picked up some shares of ZA at $0.63. I think this is end of the year tax loss selling.
It appears that they were buying their own shares through EDGX and BATS or in another word they are selling to each other at higher prices. I don't know what this means but they may be covering their own short. Thinking that the buying interest was very strong I dumped 20,000 shares at $1.82 down to $1.77 and the price collapsed thereafter and has not revived since. If it does not we may be looking at this price range for a while before it goes over $2.00.