SGH announcement

Noted SGH supposed to announce the findings ASAP by end of July 15 from memory.

Each day of delay gives me the impression that there is something the auditor is going through the book and trying to clarify the books and forensic evidence gathering.

Doesn't seem to give me any good confidence about the outcome.

Put it that way, the 9% shorts are hedge funds who generally have more ears to the ground and insider on the latest development. Ask yourself, if you have shorted over $6 prior to the price collapse, most of the shorts would be sitting with at least 50% profit. They are not silly not to lock in their profit.

Hence my gut feel is that there could be something that may lurk in the background.

I'm expecting gap down follow by a V-reversal after the shorts covering.

PS. on another note, you may have noticed a pattern emerging lately. Buy at close and sell at open the next day. Seems to give you about 10c profit, mutiply that by 30K shares would give you tidy $3K profit each day.

cheers
pcyc