Hey jvegasSorry, but from the substantial shareholder notices...

Hey jvegas

Sorry, but from the substantial shareholder notices dated 4/1/12 and 12/1/12 I can't see where BoA have been physically trading any shares on market (and therefore manipulating the stock through shorting).

Looks like simply registry transfers between the actual owners of the stock and Merrill Lynch due to the rights issue entitlements (where the actual owners would then receive the rights).

What BoA is then doing with the borrowed stock is another matter - which can only be assessed when they next come clean.

From the announcements I can only tell that they have actually returned 21,730,865 shares and then only re-borrowed 19,127,586, therefore in my mind they have actually reduced the available shorting pool of shares!

From what I can tell from the market action is there is a large over-hang of rights on the market which has the effect of pushing down the price of the physical stock (as I have been writing his an order for ~1m rights [PLARA] has just been dropped on the market at 0.005 to prove the point). I would therefore suggest the current move down (but after the Smokey Hills announcement rally late last week) is simply holders selling physical stock to take up their rights or holders just selling their rights, with only truly new shareholders coming in to pick what's being dumped on the market - i.e. over-hang indigestion driving the share price.

If by chance you do have any hard proof of BoA's activities in the market - then could you please share and perhaps better educate me?

The rights [PLARA] have still got three days of trading, so I'm guessing the share price is going to drift a little lower still - unless someone sees the opportunity and starts buying up big.

My thoughts. Respectfully.

Gus