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Post by ToddCT on Feb 1, 2005 14:22:48 GMT -5
OK I am showing a bid and ask that is very strange. The bid says "--1.00" The ask says ".0001" What the heck is going on?  I assume that someone (the company or large shareholder) is dumping a billion or so shares, but what for?? Any input anyone (Warren!!) T |
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Post by Warren on Feb 1, 2005 22:16:46 GMT -5
I have been a little quiet on the boards as I have been watching the trading patterns in general. It appears that alot of the stocks that I like to follow have been seriously hammered. You might have noticed MLON today down 2 though up from 8 before a great PR. I would of agreed with your statement on stock to watch, however we are in a time where MMs are shorting heavilly on small stocks.
PRRM is not dumping shares. The shares issued for aquisitions are restricted so they are not being sold of. Who would have the amount of shares to trade on a dayly basis that we have been seeing on PRRM. The answer to that question is no one. I keep small open orders on alot of stocks that I watch closely for trading trends. I have had an open order now for over 2 months to sell 5 million shares at .0002 that has gone untuched. This tells me that you can only sell at bid. You can also buy at bid. Who would be selling the amount of shares needed at .0001 for the level of trading, as clearely you can not get 2 for them.
My opinion, PRRM has been targeted for shorting by some hedge fund.
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Post by ToddCT on Feb 2, 2005 7:50:44 GMT -5
If they are shorting it now, they must be either very stupid or insane.....
they would have to know that they are going to file and be put on the SHO list......................
I don't see how they could still be shorting at .0001 they can't make money at .0001 anymore, but at .0002 they could. doesn't make sense
I think someone just wanted out for some reason, JMHO.
T
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Post by Warren on Feb 2, 2005 8:53:19 GMT -5
Truthfully Todd, I can not see why any one would want to go short on any stock today, how ever the evidence strongly supports that alot of stocks are being heavily shorted. Why or how do the shorts intend to get away with it, I don't know. I have a few theories, but I am missing something or something just doesn't sit right.
On PRRM as of now I figure the max float possable would be 5 billion shares.
Remember all shares issued for aquisitions have been restricted and untradable. The CEO's shares also have restrictions. When they took over PRRM with the mortgage company they did a R/S to bring down the share structuramaticallly. Then spun of the mortgage company and started creating the new entity. When they started they had a very low float and it could not of surpassed 5 billion. Now look at the trading and I know several people that are sitting with a percentage of the float. I am holding over 200 million shares of that float. I figure that a few others on this board are holding as many or maybe even more than I am. We together may be holding 20% of the float.
Now looking at these numbers where are the shares coming from.
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Post by ToddCT on Feb 2, 2005 11:47:43 GMT -5
Truthfully Todd, I can not see why any one would want to go short on any stock today, how ever the evidence strongly supports that alot of stocks are being heavily shorted. Why or how do the shorts intend to get away with it, I don't know. I have a few theories, but I am missing something or something just doesn't sit right. On PRRM as of now I figure the max float possable would be 5 billion shares. Remember all shares issued for aquisitions have been restricted and untradable. The CEO's shares also have restrictions. When they took over PRRM with the mortgage company they did a R/S to bring down the share structuramaticallly. Then spun of the mortgage company and started creating the new entity. When they started they had a very low float and it could not of surpassed 5 billion. Now look at the trading and I know several people that are sitting with a percentage of the float. I am holding over 200 million shares of that float. I figure that a few others on this board are holding as many or maybe even more than I am. We together may be holding 20% of the float. Now looking at these numbers where are the shares coming from. I know 1 other (my father) who also owns over 200m, I own around 50 trying to up it to closer to 100 but I cant seem to get any fills at .0001...................... T |
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Post by Warren on Feb 2, 2005 12:16:44 GMT -5
How long have you been trying at 1. I find that interesting Todd I have quite a few shares so I have not put out any orders over the last 2 months other than that sell. I figured they were selling at .0001. Maybe they are just churning the shares. Your guess is as good as mine.
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