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Interesting article about SVM:

http://news.silverseek.com/SilverSeek/1317399753.php

An independent forensics report by KPMG is expected in about two weeks:

In addition to the lawsuit against some of the short sellers announced last Friday, SVM has hired well-known forensics accounting firm KPMG to audit the company’s books. They’ll be reviewing every scrap of paper, from bank statements to tax receipts, to make their own determination on the soundness of SVM’s finances. A report is expected in about two weeks, and other than seeing ore with our own two eyes, this will arguably be one of the most important steps in fighting the allegations.

They are reaction quite strong to the short attacks... I think they are a legitimate company.

A very detailed summary about this story:

http://www.scribd.com/doc/65749194/SVM-Time-line-of-a-short-attack-and-a-counter-offensive

By the way... I found who Jerry Katz is.

According the lawsuit, he is the operator/publisher of chinastockwatch.com

I was just making an observation. The margin requirement increase for the short trades may force some people to cover their position to do not incur in a margin call. That could drive the price up for the whole next week because the increase is planned incrementally:

40% - 9/23
55% - 9/26
70% - 9/27
85% - 9/28
100% - 9/29

What do you think about? Anyway we will see what happens in a week ;-)

I've a question for experienced investors like you! My broker just wrote me that the maintenance margin requirement for SVM is being increased to 100%.

Does it mean that the short pressure for this stock is becoming very high? How should we interpret this news? as a negative signal for the stock? or it doesn't matter so much?

Thanks,
Costantino

Silvercorp Metals Inc (NYSE:SVM) filed a lawsuit charging defendants Chinastockwatch.com, Jerry Katz, Alfredlittle.com, Alfred Little, Simon Moore.

Simon Moore is the editor of Alfredlittle.com and the the link to Chinastockwatch.com appeared some days ago also on Geoinvesting.... but who is Jerry Katz and what is his blog? I've never heard of him.

Right. I figured that when the overall sector perception is already at the bottom, it is very hard to push down any more stocks. It is only the transition from high to low expectation that creates the biggest shorting opportunity.

Way before the 2000 IT bubble burst, and 2007 financial crash, there are already lots of red flags, but shorting immediately after finding the red flags is a very painful strategy.

I think right now even shorting euro stocks gets a bit tough. Only when some good news come out and bring the market from desperate into a little bit of hope, will I enter short again.

muscleman.. Overall, the new $SCM findings were similar, but the new information regarding the financial information of its JV appears very damning. Agreed, shorting is a tough game now. Without the risk of auditor resignations or a more proactive stance by regulators shorts will have to endure some pain.  really,, how is Sino Clean Energy (NASDAQ:SCEI)?still trading. They made up a logistics company, one that Little now owns!!!!!!!!!  Pathetic..

SVM is currently down as much as UXG, MNEAF.ob and many other miners with silver/gold exposure. Not sure there has been any reaction from their latest post since it was all said in the report before.

-Fernando

Yeah. This is very complicated, and I think today's AL's new findings is not too much addition from last report. Today's price drop is probably most likely related to the overall market drop.

Have you noticed that the hit pieces are not working as well as 6 months ago? That is kind of weird.

muscelman. we day traded Silvercorp Metals Inc (NYSE:SVM). We need to do more homework on this name as it is more of sophisticated case than usual.

I see that your entry into HRBN and DEER are both based on AL's work. How about SVM? I bought some puts after I saw AL's piece, but closed with a tiny profit the next day when I saw the management's clarification. They put up the bank statements, so they will earn more trust from the market, which means that share price will go up quite a bit.

This situation seems a lot harder to get fully clarified of what's going on.