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Chinese Frauds Account For 80% Of Nasdaq Permanent Trading Halts

Tyler Durden's picture




 

In light of another fraud allegation against China Biotics which will likely soon join the Nasdaq trading halt page, we decided to take a quick look at the Nasdaq trading halts page. To our complete lack of surprise, Chinese fraud dominates with an iron fist: of 19 halted stocks (GFC has three classes of securities halted), 15 of the name are Chinese. Of these 15 Chinese names, none were on this list when we first warned of the imminent surge in reverse merger fraud back in November. Luckily, judging by the horrendous performance in recent Chinese IPOs, even with the criminal abdication of enforcement duty by the regulators, it appears that the gambling frenzy is over. Below we present the complete list of Nasdaq trading halts with Chinese names highlighted in red. No further commentary is necessary. And to all those who bought puts on these stocks, correctly predicting the names are nothing but mini ponzi schemes, please send your complaints to the SEC and the Nasdaq, which is more focused on raising HY debt to LBO any and every exchange still for sale, than actually monitoring what crap it floats.

Incidentally, the Zero Hedge short China basket just hit an all time low.

 

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Thu, 05/12/2011 - 11:21 | 1267907 LawsofPhysics
LawsofPhysics's picture

The heat from that paper bonfire just warms your heart, doesn't it?

Thu, 05/12/2011 - 11:44 | 1268044 chubbar
chubbar's picture

Speaking of Bonfire, Martin Armstrong's latest. Sovereign Debt Crisis, The Bonfire of the Real Wealth.

http://www.martinarmstrong.org/files/So%20You%20Thought%20the%20Sovereign%20Debt%20Crisis%20was%20Over%2005-10-2011.pdf

Thu, 05/12/2011 - 13:38 | 1268545 ProdigyofZen
ProdigyofZen's picture

this guy on his "header" spelled capital wrong and solutions wrong. Strike 1 and 2. I can see spelling them wrong in the body of the text but his header/sign the one he is supposed to pull off his website and just copy and paste? Come on man!

Thu, 05/12/2011 - 15:08 | 1268984 Urban Redneck
Urban Redneck's picture

I'd cut Martin some slack, he probably outsourced it to Japan, as he has bigger things to worry about now, and still doesn't charge for his opinion.  I'm just glad he has access to something more than a pen & typewriter.  

Thu, 05/12/2011 - 11:43 | 1268045 camaro68ss
camaro68ss's picture

playing musical chairs to the song, "the roof, the roof, the roof is on fire, we dont give a fuck, let the mother fucker burn!" 

BTFD in silver BITCHEZ!

Thu, 05/12/2011 - 11:21 | 1267910 ZeroPower
ZeroPower's picture

Over/under on RenRen getting added?

Thu, 05/12/2011 - 11:20 | 1267920 the_law
the_law's picture

Zerohedge spent the best part of a year telling us to buy silver. How come silver hardly gets a mention on this site now that it has collapsed?

Thu, 05/12/2011 - 11:25 | 1267938 Tyler Durden
Tyler Durden's picture

Zerohedge advised to shift away from paper assets on March 18, 2009. What is the return since then?

We can help you:

Incidentally, total COMEX silver just dropped to its lowest silver holding ever, as another 250k ounces of silver got reclassified from Registered to Eligible, and a total of 444k ounces withdrawn. Must be all that aversion to holding actual silver.

 

 

 

Thu, 05/12/2011 - 11:48 | 1268058 camaro68ss
camaro68ss's picture

What does it cost to make $100 bill, 3 cents? well that 3 cents is 95% zinc so what is that $.0075. haha

 

Thu, 05/12/2011 - 13:41 | 1268562 Hephasteus
Hephasteus's picture

Oh a relative math funny man. LOL

Thu, 05/12/2011 - 11:57 | 1268092 hugovanderbubble
hugovanderbubble's picture

+1

 

Thu, 05/12/2011 - 11:28 | 1267940 SheepDog-One
SheepDog-One's picture

'ZH saying to buy silver for over a year, now its 'collapsed'....anyone who bought silver a year ago is up over 200% at least? Numbnutz.

Thu, 05/12/2011 - 11:26 | 1267941 HelluvaEngineer
HelluvaEngineer's picture

Think it's getting plenty of coverage.  If you feel like you've been duped, then sell it all now.

Thu, 05/12/2011 - 11:40 | 1268039 Trillax
Trillax's picture

Indeed.  Sell it to me if your convinced it's 'collapsing'. ;)

Thu, 05/12/2011 - 11:35 | 1267944 LawsofPhysics
LawsofPhysics's picture

Collapsed?  It was under $30 last year.  Moreover, are we talking about paper or physical?  I need physical because we use it in our products.  Guess what, the price for physical has not changed.  What you are seeing in paper manipulation because of margin hikes.  Been there done that, market fundamental remain unchanged.

Thu, 05/12/2011 - 11:31 | 1267987 BanksterSlayer
BanksterSlayer's picture

What you are witnessing is a collapse of non-stop, naked short selling of paper silver contracts. I took a peek at my stacks of silver coin just now, and from what I can see, none of those coins have collapsed.

Thu, 05/12/2011 - 11:33 | 1268005 TheTmfreak
TheTmfreak's picture

Hopefully you are hedging against falls...

You know with protective cases for physical falls and bumps.

Thu, 05/12/2011 - 21:58 | 1270497 StychoKiller
StychoKiller's picture

Life Alert™ can help you if you've fallen and can't get up! :>D

Thu, 05/12/2011 - 11:51 | 1268073 urbanelf
urbanelf's picture

Are you actually reading all the articles?  There have been several that mention silver everyday.

Thu, 05/12/2011 - 11:20 | 1267924 Jack Mehoff
Jack Mehoff's picture

That's bullish for stocks. 

Thu, 05/12/2011 - 11:25 | 1267936 carbonmutant
carbonmutant's picture

Transparency Bitchez...

Thu, 05/12/2011 - 11:24 | 1267937 bobby02
bobby02's picture

Anyone have a source for info on settlement of options on Chinese reverse mergers that were halted? Puts sound good, I'm just curious as to what kind of execution investors actually got.

Thu, 05/12/2011 - 11:23 | 1267942 RobotTrader
RobotTrader's picture

Nice drama on this issue.

However, I don't really think any major mutual fund even messes around with these stocks.

They are more inclined to be buying names like FXI and not taking specific stock risk.

Thu, 05/12/2011 - 11:33 | 1267962 SheepDog-One
SheepDog-One's picture

OH right...now no one even paid attention to any of these CNBC Wall St whore media darling Chinese IPO's they were all gushing torrents of jizz over when they came out, yea Im sure no one actually BOUGHT them! RainbowTrader as long as you have plenty of Windex and paper towels for those rear-view mirrors attached to your monitor, youre a true market guru!

Thu, 05/12/2011 - 11:44 | 1268043 Gubbmint Cheese
Gubbmint Cheese's picture

"Torrents of Jizz" - sounds like a garage band from South Dakota...

;p

 

Thu, 05/12/2011 - 11:24 | 1267952 Urban Redneck
Urban Redneck's picture

The Chinese are just recycling the worthless green paper we send them

Thu, 05/12/2011 - 11:24 | 1267955 buzzsaw99
buzzsaw99's picture

Emerging markets bitchez!

Thu, 05/12/2011 - 11:29 | 1267963 firstdivision
firstdivision's picture

NZD leading the charge on economic recovery!

Thu, 05/12/2011 - 11:26 | 1267965 Tic tock
Tic tock's picture

..you have to admire the irony... the world's major creditor-nation holds the record for the mos number of misleading account filings, in the most corrupt and dishonest company accounting regime in the world (my opinion)...that, or the SEC is just exercising US -I mean, Banker Foreign policy.    

Thu, 05/12/2011 - 11:29 | 1267974 buzzsaw99
buzzsaw99's picture

they learn fast.

Thu, 05/12/2011 - 11:27 | 1267966 NOTW777
NOTW777's picture

chinese exports - getting even with ben

you sell us toxic fiat and debt, we sell toxic ipos

Thu, 05/12/2011 - 11:28 | 1267969 Jovil
Thu, 05/12/2011 - 11:34 | 1268007 Altan311
Altan311's picture

GS now down more than PSLV, LOVE IT. that 14.76 low was not breached today, might have seen the low on Sprotts fund for now.

Thu, 05/12/2011 - 11:39 | 1268021 SheepDog-One
SheepDog-One's picture

When the banksters start feeling the big pinch, thats when the bad times come. 

Thu, 05/12/2011 - 11:40 | 1268030 Altan311
Altan311's picture

I'm getting worried for Blythe of the best raid she can mount in silver lasts 2 hours max. Watch, PSLV will close green for the day.

Thu, 05/12/2011 - 11:50 | 1268068 NumberNone
NumberNone's picture

What's odd is that ZSL (ultra-short silver) just went negative on the day despite silver being down 2%. 

Thu, 05/12/2011 - 12:12 | 1268138 SheepDog-One
SheepDog-One's picture

There is no market, only manipulation now.

Thu, 05/12/2011 - 11:37 | 1268029 pazmaker
pazmaker's picture

I must admit I own one of these...... not too much tied up in it but I bought it last year.....now the shares are frozen and class action lawsuit has commenced...who knows how long and if I will ever recoup anything from it.

Thu, 05/12/2011 - 12:24 | 1268177 pazmaker
pazmaker's picture

you live and you learn.... I got junk for that wow!!  I think I have a secret admirer!

Thu, 05/12/2011 - 12:21 | 1268170 max2205
max2205's picture

yep, i prefer amerikan scam stocks that go from OB to pink to .0001 . They're all the same and easy to spot on the charts

Thu, 05/12/2011 - 13:17 | 1268417 Magnix
Magnix's picture

IN THE LONG RUN, IS THE SILVER PRICE GOING TO INCREASE IN 1 YEAR, 5 YEARS, OR 15 YEARS? IF SO, GONNA BUY MORE SILVERS!

Thu, 05/12/2011 - 19:19 | 1270014 Hephasteus
Hephasteus's picture

NO. WE HAVE MOTHERSHIP COMING AND WE ARE GOING TO THROW ALL THE SILVER ON THE MOTHERSHIP AND FLY AWAY AND GO HAHAHA.

Hi there texasbuttcrack.

Thu, 05/12/2011 - 21:16 | 1270345 Element
Element's picture

Does this mean we still believe a Chinese super-buck will rule the world soon?

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