BRM, AFG, ABS and AQA...all requiring significant focus.
Now that the market is over, I have finally found time to read over the CVI posts...and find myself confronted by a massive backlog.
Where do I start...do I even want to?
First thread I clicked on had personal swipes against me...I mean, what is this about?
Why are they still posting?
The behaviour I have seen in this mornings posts, before I became "busy"...then again in the few I have read in the last 20 minutes...really saddens me greatly.
How do some of these people live with themselves?
The stock has fallen 5.56% on a day when the XAO fell a massive 163 points...it has been a bad day all round.
Whilst CVI is showing significant weakness today, a scenario not helped any by what in my mind is very sloppy management of the placement process, none the less it is hardly terminal in nature.
BUT...I guess like others I would have preferred to see CVI have a "bad day" in the high 20's today...not languishing at critical technical levels at the hands of the "swing players" in the mid teens!
The placements, whilst clearly critical to our future prosperity, are also very much destroying it in the way they are being done.
In my view, this is a real failure on behalf of the CVI management, especially at this particular point in time. I have no problem with the dilution from the placements, if as we are lead to believe they are going to the right homes, but the way they are being drip-fed like water torture into the market at the worst times possible...and indeed the somewhat questionable trading activity clearly taking place either side of each one...one cannot help but question just how in touch with the market they are at present?
I bought extra options in the 14-15c range yesterday...I let those and a few others go today...they were meant to be an investment.
I did so, not because the story has changed, not because I doubt the company will achieve their goals...and certainly not because I do not believe what Smyth is telling us...no, I sold because I had far too many options in a stock that I have come to the realisation the company has effectively handed to the "traders" on a platter, through poor management of the placement process...nothing else...to be honest, we are getting less then forthright communication of exactly where these shares are going and why?
CVI is telling us one thing...the market is screaming another!
Why can't placements going into the hands of the "right people", who we are told are "long term holders", be put into voluntary escrow?
I know why they are being issued...well I think I have worked it out...but the degree to which I have been forced to invest hundreds of hours of research just to come up with my own conclusions, frankly, I am not sure others would. If they do not, then they are not likely to understand...and such ignorance will not garnish support from the wider market...who clearly do not realise what CVI are all about here, what they have achieved, are about to achieve and what potential value this may have going forward.
Why is this?
From the moment CVI offered a placement to certain parties at 31.4c, the stock has been entirely under a veil of manipulation...it has been so blatantly obvious. It is like someone sucked the life out of it.
It is all very well to blame the wider market carnage...but the simple fact is that CVI has performed worse than just about any other stock...certainly the worst in my portfolio in that time.
This is in spite of CVI being the best stock in my portfolio.
Is there not a message in there for CVI?
Smyth may well not see this...he is after all distracted with significant activities, he gave a clue to this in one of the recent BRR interviews where he discusses the fact he has been assured the placement recipients are not "selling"...but it is very obvious to experienced market participants that placement related manipulation is in fact going on!
We do not see major shareholders accumulating in this period...so clearly they are "trading" for points on the back of the whole placement process.
This needs to be looked into.
Virtually every placement has seen manipulative pump and dump trading...either before, during or just afterwards...clearly pointing to the fact those involved in the placements are responsible either directly or indirectly...there can be no denying this.
CVI needs to put a stop to this contagion instantly...before all credibility is lost.
Hard to pinpoint exactly who though?
1. Are the placement recipients selling on market (prior, or just after)...or;
2. Are parties simply aware of the placement timing (and executing pump and dump tactics), knowing full well a "bad news cheap placement notice" will facilitate their games on the other side of the pump…when they re-load the previously pumped-up and sold shares?
Are the placement being used to farm funds out of the market like some kind of ASX printing press?
Whatever the case, Smyth needs to put in place measures...INSTANTLY...which addresses this ongoing pattern.
I'd sack my placement broker first thing...I wonder if they are the same one's that took the 31.4c placement...the point where the current "activity" began!
I think Intersuisse took on the 12.5c and 24c placements...I bet they are not the one's taking the latest lot, for the simple fact these two placements saw little placement related manipulation in the stock.
Not very happy today, even though I actually made a decent profit on a bad day thanks to my traders (BRM, AFG and AQA).
I would however be so much happier if we could just see CVI finally get back on track so that genuine long-term holders are not given reason to sell.
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
