Andrew, RE: CSGI
I hope you do not mind me posting on this thread. I would like to address the CSGI issue. As you may have noticed, I did not post until the PR was made. I noticed all the leakage that was going on and did not wish to be asked questions that I did not want to answer. I do agree with you that CSGI is easily predictable. Volume and "block size" give a clue to what is coming down the road. I DID SELL today, approx. 7,500 shares. I am a trader and will always take profits. I am looking to see if price is stable at this level tomarrow and will more than likley buy back between $9.125 and $9.50. As far as I know there is nothing fundamentaly wrong with CSGI. The contract is a viable and does show that CSGI does have a solution.
Now to what I think went wrong.<JUST MY OPINION>
1. The PR was made on the worst day possible.
2. The DowJones, Reuters, and Business wire did not even run the story.
3. Baxter International (NYSE: BAX) was not mentioned in the PR as the parent comapany
4. No terms of the deal were inclosed
5. The Y2000 stocks in general were beaten up also
quote.yahoo.com
6. All these issues combined brought the attitude of "so what" to this press release.
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Re: Manipulation and Insiders.
YES YES YES, don't be scared of calling it the way it is. Every stock before a major announcment has such activity. THE MARKET IS CROOKED!
There was definate insider buying of CSGI. The funny thing is that the stock hit 11 7/8 right before the news and everyone, including me, was expecting this thing to hit 12...13....14.. The price just sat there and no news came over the DowJones or Reuters or Business wire.
I was livid and so were several other major investors and calls were placed to IRA, (Innovative Research Associates), and they claimed that they faxed the release twice to all three of the above wires, but no ones seems to be picking it up. My answer was NO SH*T!, no one is picking it up what kind of morons make a release when MR. G' is killing the markets and the Dow and Nasdaq are getting crushed. Who cares about a little BB company's press release that didn't include any figures and doesn't even mention that BAX is the parent Co.
Anyway that is what happend yesterday.
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Today
MM's DREAM! the classic lets see how low we can buy back some shares.
The markets get killed again, MM's start droping the spread and buy back shares. There were 6,000 share blocks being bought yesterday and about 10 to 15 2,000 share blocks were also purchased yestereday. Today it only took 49,000 shares to drop this thing like a rock! YEAH RIGHT! total manipulation by MM's. I am sure that most of the indiders that purchased stock yesterday did not expect such a poor coverage of the PR. I too was VERY upset. I do not think any major insiders or other people who were buying 6,000 share blocks @ 11.00+ sold into this pullback.<the volume was not there> Why would they when they know the terms of the contract?
Anyway, I don't know if this helps or makes anyone even more upset, but this is what took place.
Short term the MM's could take advantage of the current market and try to "shake out" some more shares.
Long term buying will start to come back in and the spread will rise back to original levels.
I do not whant to directly mention any figures involved whith the Baxter contract, but I will say that I have seen the figures mentioned on other posts and they are correct.
I would urge anyone who is a CSGI investor to call
IRA at 212-421-2545 or Consygen at 602-496-4545 and tell them you are
upset at the way this PR was released or should I say not released.
I have called, but more voices have a greater effect! |
