Yes, it's fact, yes it can be proven, and yes it's all here: http://www.shareholder.com/overstock/downloads/TranscriptLawsuit.pdf "If so why hasn't the NASD/SEC halted trading in OSTK to investigate?" That's the exact question Byrne and the rest of us are asking. He's saying look, it's here, I can prove it, and I'm gonna take these bastards to court to prove it. If you look on Yahoo you can see that there is 18.6 million shares outstanding, and 6.5 million short. Byrne can account for something like 11 million of those shares by either owning them himself, his dad owning them, or some of his large institutional friends. You can't tell me out of the 7 million remaining, only half a million are long? Honestly, read that article with an open mind and see for yourself. I'm not trying to convince you of anything, just relaying what I believe the facts say to me. -The New Guy
haha no, but I'll look it up. I think one of the funniest things I've heard in a long time was Byrne asking people to call in their stock certificates.... I mean, talk about the ULTIMATE short squeeze! Can you imagine the pandemonium at some BD's? -The New Guy
EXPE was public before this current issue that trades now. Heavy heavy short interest......they went private and pretty much ran the price up 100% or so..I don't remember the exact prices. Stayed quiet for awhile and then went public again. Still a POS but you get my point.
Yes. it`s a shame they have the same ticker...that prevents you from looking back and seeing the action....wild stuff. Me and my trading partner at the time were short and got squeezed..reversed and made it back then some. We knew something whacky was up. I believe to this day someone leaked the news. It was pretty much off to the races for months...not one major pullback.
Yeah, I'm having troubles finding much on it... ah well. Good for you making some dough on it. These situations have great potential, but to me they're really risky. I don't understand OSTK yet, but someone with more guts than me is gonna make a lot of money on it. The thing is all over the place... down %7 today already. It also scares me that even in the face of a lawsuit and investigations, someone still put another 300k shares short on it this month. Neither side is gonna give up easy, so I'm guessing at some point this thing is gonna blow up, one way or the other. -The New Guy
Real companies??????? What about real companies shorted into oblivion? How about UAL, DAL? Other companies, now "shit stocks" were real at one time, and some still are, even though they trade at pennies. SDNA has a 2.2 billion dollar lawsuit. They document deals they lost because of the destroyed stock price. Their CFO had been President of a Fortune 500 Company. He left after helping the Company obtained real financing to protect his ass(ets). The bad guys will tie you up in court to destroy your assets and he didn't want to take that chance. In the coming weeks, you will read about "window call flips", where the brokers lend the same shares, or non-existant shares, over and over again. You'll read about the States stepping in, because the loss of jobs is overwhelming communities. And you';ll read about more of the characters Byrne referenced in his call. You';ll read more about an already infamous character, and how he destroyed mutual fund values by naked shorting major listed stocks into freefalls. You'll read about the head of one of these "companies" who, inspite of many brushes with the authorities, still Pipes companies to death. How do I know these things? Because I believe that funds are leaking to terrorists, and you and I are funding the killing of our own troops. Sounds crazy, doesn't it? Sorry. It's happening, and our lawmakers have their collective heads so far up their collective asses, they can't help. At this point, I'm only trying to help the authorities track down the problem. But there is nothing wrong with trading the squeezes. Look at MSO today. Here's one. VGZ. Announces an offering 8/29. Hits the threshold list three days ago. You guys are all smart. Figure out why that happened? Don't you wish you could do it? By the by, when is the last time you saw a company, in a horrible market, release bad news and finish at the high of the day. ? I'll be back in again tomorrow.
Here is a post from Silicon Investor referring to posts Amir Elgindy made on his private web site. His web site was subscription only, several thousands of dollars per month, with some 600 subscribers. I remember one stock Applied Digital Solution (ADSX) that he pumped, but I was ready for him. After he pumped it, he came out with his (in)famous newsletter "Inside Truth", and dumped it. I was tipped off to him by a reporter on "THEDEAL.COM". Elgindy is now awaiting sentencing, but crying over spilt life. Fuck this psychopath. Now, school is out, and you doubters have to do your own work. my only intentions here was to wake up traders to the fact there is the mother of all squeezes coming, and you have a chance to make a career. But you have to know the how and why. We will all guess the date. But it is here. Prompt me, and I'll point out situations to you, or direct you. But as a trader, you should monitor the SHO list daily, and watch what is added or subtracted. They move violently. Really. Do you think MSO should be in the 30's? My personal vendetta should not really concern you, but Goddamn it, right is right, and wrong is wrong. And sometimes it gets thrown in you lap, and it's in mine. And I'm going to finish it. If you don't have personal pride, you have nothing, and they screwed one guy too many. The next post is the Elgindy post. Do your own searches and read. The September 10 stuff was presented, but not allowed by the judge. They got him anyway. This is why I root for Pat Byrne. I do wish he was a bit more, shall I say, conventional.