35 replies to this topic

[Queen B]

Its mostly our bad generally, for trading a euphoria and the hope of a quick buck

There generally isn't a quick buck to be made on the JSE. Otherwise we would all be billionaires by now.

My suggestion for future, is to watch the threads started and who started them. I believe a lot of pump and dumps are orchestrated and started in these forums.

I'm not saying this is the case here, but something we need to watch out for.

And Mr Balls, your option 2 is the better option for all those who have invested

[Mr.Balls]

Also note they had a change in designated advisor to PSG. (Away from Sasfin)

 

Just like Morvest earlier, also to PSG and away from Sasfin...and then came the offer to buy out.

[Shi]

I hope it is the 2nd scenario with a good set of results. If only for those that bought in the last 2 days (big volumes went thru).

 

PS: CMO usually releases a trading update the day before the results. They usually release results very close to the end of the month. So, we could be 4 trading days away from a SENS for the trading update. So, this means that the company themselves don't know what the update will contain. So, how would insiders know. All in all, it doesn't look good. BUT like I said, I hope it works out for especially for those that bought.

 

This morning, I was thinking of red hot penny shares when looking at the performance of CMO this week i.e. pump and dump.

 

 

[Mr.Balls]

Well its either two scenarios:

 

1. People are spoofing the market about a possible good trading update, so you get sucked in and lose out.

2. Insiders buying before the trading statement or results come out, so you have to take a gamble to buy now, problem is, if it is insiders, then next time results are bad there is a sell off and you lose again..

 

I'll wait for results and take it from there

[yusufm]

Big drop in price today
Looks like a possible pump n dump scenario

Figured as much, SL triggered at breakeven

[Queen B]

Big drop in price today

Looks like a possible pump n dump scenario

[10gbusc]

Looks like 50c coming with this momentum by the end of the week. Earnings next week probably going to be excellent by the way its trading

[yusufm]

I'm also in at 30c

[Shi]

Brilliant timing, well done!

[10gbusc]

Yes i bought at 10c on Friday

[Shi]

Did you get some shares? If so, good luck.

[10gbusc]

Up another 10% today with big volume on the bid, looks like we going to see 50c soon!

[Shi]

The NAV has been that high for many years now, so I would not think too much of that.

 

The volume of shares traded in the last few days are not big.

 

CMO has a deal with another company whereby this company does the mining and CMO get part of the profits. It is not a game changer I think, but does add to the cash flow. CMO is still a small player and I don't see this as being the new CZA.

 

So, not for me, just yet

Edited by Shi, 19 May 2015 - 01:13 PM.

[10gbusc]

From what i hear they started mining again in November last year, which means they have returned back to a profitable situation. This is very bullish for the firm and a while back they had an acquisition on the table which the major shareholders declined, but now that they are back to profits, which earnings will show next week, i think there could be a place for another bid to come again. If this is the next CZA, it could see 50c+ just based on those earnings next week....so it's still cheap here in my eyes and the momentum will take it higher.

[yusufm]

I see their NAV is significantly higher than the SP, though mainly due to their intangibles. Do you have any targets in mind and do you know if their operations have been profitable thus far?

Edited by yusufm, 19 May 2015 - 11:08 AM.

[10gbusc]

CMO: Chrometco...They have earnings out next week which will show they've gone from non-productive exploration to full scale mining of PGM Ore. Trading statement should be out this week. The share has bounced from 10c to 25c in 2 days on big volume! Someone obviously knows something and maybe this could be the next CZA?