LOL, shorting 101. Its easy. Get short, then start rumors of the company having a $1.3 billion accounting error. Fuck these guys are good. How many sheep will dump this now...who knows. ASK YOURSELF: Why would the company buy 2 million shares (on its way to 10) last week at $8 if its a fraud?
Click here...
Whether its true or not, it could take a while for these allegations to be proven false and the stock to recover. I'm not bailing on my Dec calls though.
ReplyDeleteBTFD! What a gift!
ReplyDeleteI'm doubling up...
ReplyDeleteWell, The company averaged into 2 million shares at $8.11 the other day... I would expect them to use this pull back to continue to accumulate...
ReplyDeleteWait for the shorts to do their damage, then buy, if you still have time before the entire sharade collapses to 1000 points only at the DOW.
ReplyDeleteU.S. Set To File Suits Against Big Banks Over Mortgages
ReplyDeletehttp://www.huffingtonpost.com/2011/09/01/us-suits-big-banks-mortgages_n_946010.html?icid=maing-grid7|main5|dl1|sec1_lnk3|92223
Just saw the news on BNN, SVM being accused of fraud. This should allow shares to be picked up a a great price.
ReplyDeleteI just got off the phone with my broker and told him to buy 1000 shares of SVM for me. I got in at $8.11.
ReplyDelete@SGS
ReplyDeleteAre you dollar cost averaging into the Jan. 2012 $15 calls? I am!
I just looked at the entire bank statement from the Bank of Montreal. It's pristine! The numbers don't lie. The share price has just recovered from being smacked down. This will turn out to be much ado about NOTHING!
ReplyDeleteThe latest press release about the Short Position is on the Silvercorp website
ReplyDeleteGo to http://silvercorpmetals.com/news/2011/index.php?&content_id=304 for the press release.
Hahaha, who the fuck is this douchenozzle right here?
ReplyDeletehttp://seekingalpha.com/article/291328-gold-is-worth-700-but-a-correction-is-unlikely-in-the-short-term
word that corporate just bought that dip, and the shorts just missed their exit to cover on that news they probably put out. LOL. Its just gets better each time someone tries to manipulate a paper game with finite backed assests.
ReplyDeleteSo SGS has contacts inside SVM also?
ReplyDeletecrusso: my tentacles reach many places.
ReplyDelete8 Million shares traded today....wow (I'm long at $8.50)
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteBMO Capital Markets Reiterates Silvercorp Metals Outperform
ReplyDeleteBMO Capital Markets reiterated its Silvercorp Metals (NYSE: SVM) Outperform rating in a research report published today. In the report, BMO Capital Markets provided color on a recent accusation of fraud received by Silvercorp Metals by an anonymous letter.
In the report, BMO Capital Markets states, "BMO views the company's proactive approach toward disclosure to repudiate allegations of fraud as a positive step. BMO reiterates SVM's Outperform rating and views weakness in the share price as a rare buying opportunity."
Shares of Silvercorp Metals were trading at $7.97 at the time of posting, down 5.23% from Thursday's market close.
Read more: http://www.benzinga.com/analyst-ratings/analyst-color/11/09/1898674/bmo-capital-markets-reiterates-silvercorp-metals-outperf#ixzz1WoO0uPeR
I am not one that handles the stress well of the down days of the market. That being said I am long SVM at about 600 shares at 8.54. I have to realize that it potentially double my money. Luckily I am a little diversified with PAAS. However its terrible watching SVM getting ruined right now.
ReplyDeleteNeed some advice for a first time poster.
ReplyDeleteStarted stacking phyzz hardcore as of 2 months ago when I discovered precious metals and avidly frequent this site, made donations the whole shebang.
Would like to know how to get in on this SVM stock but I'm a little green on how to go about it.
This is painful and horribly nerve tracking to watch.
ReplyDeleteAnybody seeing that action? Wow, 9.6 millions shares and counting. How many shortable shares can they get? Nice dip anyway. Got filled even y March.
ReplyDeleteZoul, It does suck to watch... but I am not overly concerned. Because I know we are in the pipe of shit smelling foulness, but it will lead to redemption.
ReplyDeletehttp://www.youtube.com/watch?v=neO5fnwQjqg
Take a look at Riverstone (RVS) - up 19% today! I'm glad I hung on for all those horrible months when it wallowed in the muck. I only had 7,000 shares so it was just a small one for me - but heck I'll take that 19% up!
ReplyDeleteMore internal buying from the miners:
ReplyDeleteRiverstone Grants Incentive Stock Options
VANCOUVER, BRITISH COLUMBIA, Aug 31, 2011 (MARKETWIRE via COMTEX) -- Riverstone Resources Inc. CA:RVS +17.31% (otcqx:RVREF)(pink sheets:RVREF)(frankfurt:3RV) ("Riverstone" or the "Company") announces that a total of 800,000 incentive stock options have been granted to a director and a consultant of the Company pursuant to the Company's Stock Option Plan. The options are exercisable for a period of five (5) years at a price of $0.475 per share and are subject to vesting in accordance with the Company's Stock Option Plan.
Just thought this was a great quote from a poster on the SVM forum over at Turd's site mocking the shorts and SMV naysayers and thought I'd share.
ReplyDelete"A sham of a company paying a dividend, buying back it's own shares and doing business on more than one continent is one impressive fraud." - Puregold
http://www.tfmetalsreport.com/forum/silvercorp-metals-inc-svm-aggressive-growth-profile/385?page=9#comment-43432
Just for the record I am not long SVM...I have calls. If this stock goes to Zero I only lose what I have put in. Be very careful when using 100% of your money, even worse on margin, in this market atmosphere. You can loose it all.
ReplyDeleteNow Im NOT saying that ANY of the allegations are true. Just giving you a heads up. Other than SOME juniors that I am LONG in the equity portion, I am NOT LONG or SHORT ANYTHING. Only calls/puts at this stage.
We could have a massive move UP or DOWN.
I love days like today. AGQ up 6.7%, GPR up 6.11%, SSO up 6.6%, WS up 5.5%, RVS up 17.31%. My portfolio is lovin' it.
ReplyDeleteBy the way... what's up with TK these days? Any news?
I think this company is legit. But damn, they must be having to expend a lot of their share buy back power to fight this allegation.
ReplyDeletethis bitch really want to cover under $7. let's see if they can reach.
ReplyDeleteThis comment has been removed by the author.
ReplyDeletemy stop was $6.94 on the weekly when I put in a position this morning. ha! didn't expect to hit it today. i reloaded instead and am up 3% in seconds. lol this is not fun.
ReplyDeleteSVM: Day Low 6.92
ReplyDeleteYep. I wonder if that's the bottom. Looks like we are coming back up again.
SGS: I don't know how you do it but you are always well protected and on the right side of most trades. I think I'll start donations soon if this keeps up. You're the best!
ReplyDeleteWU: You got one week left in this WWW. world you live in. Then its lights out for you here as you will never be allowed to post again on the new site.
ReplyDeleteI Have calls=needs to go up, I am NOT on the right side of this trade.
But I tell you one thing...my phycial trade looking really really good today WU: Remember you SOLD all your physical? DO I need to link the post and your comments to when when you SOLD it all?
ReplyDeleteI agree with you SGS: Don't buy these things on margin. I bought my shares with a very small portion of my gambling casino money. It's just a game - but I hate to see good companies maligned and slandered by some anonymous entity trying to take the company down by shorting it to death.
ReplyDeleteUnexpected Price Movement Spotted In (TSE: SVM.TO)
Silvercorp Metals Inc. (TSE: SVM): fell by 15.55% or $-1.28/share to $6.95. In the past year, the shares have traded as low as $7.57 and as high as $15.60. On average, 973828 shares of SVM.TO exchange hands on a given day and today's volume is recorded at 3580354. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $9.31 area but be careful because the stock may face selling pressure at this level.