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Braggo
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  • PacWest Equities (PWEI) - Sell-Off Is Imminent 3 comments
    Nov 3, 2012 6:49 AM | about stocks: PWEID.PK

    Infitialis did a great job exposing PWEI.

    There are some indications that the sell-off is imminent as they announce the forward split. The same was true with IDNG.
    I wrote a comment here: seekingalpha.com/instablog/3013061-otcma...

    "The Company expects that shareholders holding common shares at registered brokerage firms will have this forward split transaction processed automatically in their accounts over the NEXT FEW DAYS." Perfect time for the instigators to dump shares because some of the naive longs are trapped and aren´t able to sell their shares at the moment. So, nobody can realise gains and the instigators can sell their shares unhurriedly to new buyers.

    That was exactly what indeed happened afterwards:

    "It looks like what you are describing is happening right now. The stock split on Friday (6-22-2012) 5-1, but I am unable to buy or sell the stock because the shares have not been distributed from the company. According to Fidelity, the split shares are not scheduled to be distributed until Wednesday (6-27-2012). In the mean time, the share price has fallen from 93 cent to 41 cents. Any suggestions…"

    I believe the same could happen to PWEI too, as soon as Tuesday. So probably Monday will be the last day for longs to realise gains.

    Stocks: PWEID.PK
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This post has 3 comments:

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  •  
    How long does usually take for the shares to be delivered?
    7 Nov 2012, 09:19 AM Reply Like
  •  
    i checked on GOOG and YAHOO, and it appears the last trading day was on Nov 2. Looks like its history.
    7 Nov 2012, 06:15 PM Reply Like
  •  
    It´s PWEID now. Still climbing, but yesterday with intraday reversal. Not sure if shares from the forward split are already delivered. No position at the moment. No shares available to short.
    9 Nov 2012, 04:59 AM Reply Like
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