is ... YES - Another Profitable Day!
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Well, cheer up! Maybe you'll make some money trading the stock. By the way, did anyone notice that Deep Blue Marine (DPBE) has been looking pretty good the last 5 days or so? I am beginning to wonder if in fact, we might be able to use DPBE to predict what could happen with ORRV. Some times when you have related stocks like this one or them will typically start moving before the other one gets up steam. I'm going to see if I can establish any pattern in the price movement and maybe I can learn something about it that could help all of us time our profit taking points along the way.
Well, we had higher highs and higher lows and nice late day rally so even thought it was a down day the bulls are still in charge and it looks to me like the start of one of those long slow rallies that just keeps going up and frustrates the heck out of them bears.
Good timing! Yes, the market failed to sustain a midday rally and a lot of weak longs were stopped out on heavy volume as SIRI completed a KEY REVERSAL day. Expect lower prices tomorrow. It should retrace now back to around the $1.80 mark before it finds firm support. You might also notice that Thursday is a NEW Moon and a high percentage of tops and bottoms occur within three days of either a NEW or FUll moon.
Your FICTION is most entertaining but, when are you going to start telling us some worthwhile FACTS???? I mean the fact that you got drunk with some used to be treasure hunters who puked on you isn't really very useful for making investment decisions, you know what I mean?
Locating 7 shipwrecks and securing the operating capital for the first salvage operation is not likely to attract any smart money investors to ORRV. The smart money knows that the only reason why a stock will go up in price is when a lot of new money pours into a market from investors who are willing to pay higher and higher prices for a stock in anticipation that the stock will continue to go even higher and higher in price. That can only happen when a company can show earnings or at the very least a substantial decrease in losses coupled with the promise of continued earnings over a long period of time. There are literally hundreds if not thousands of companies that smart money investors could choose to invest in. So, they typically have a list of what they believe are the most promising companies and that is where they put the majority of there money. To get on there list you have to be noticed by them. In order to get noticed by them, you need to have high visibility. Being traded on the PINK Sheets is not generally going to give you that kind of high visibility so, that is one of the reasons why ORRRV is making plans to move to a more highly visible market place.
So, I don’t see the price of this stock moving up substantially until the promise of true sustained earnings by ORRV becomes highly visible to a great many investors who would view this company as one that has the potential to out perform other companies on their list. This is not likely to happen until they have actually brought up a substantial amount of cargo to the deck or even more important would be delivering a substantial amount of cargo to the shore.
Strange chart this morning. It appears that the gung ho bulls are making an attempt to defy a double top. But, unless this rally attempt gathers some momentum, and some volume, all that is likely to happen here is a divergent sell signal between the price and the Stochastic. Presently this rally seems doomed to fail and we should see a pull back now to recent support around $2.06 which I believe will also fail in the face of this interim market top and a further decline to around $1.90 (normal Fibonacci retracement for this wave) should then present a very attractive buying opportunity. With the NEW Moon approaching, as a chart watcher, I would not be too eager to buy until the FULL Moon on the 15th, assuming that it is accompanied by firm support in the $1.90 area. Just my 2-cents!
I like SIRI long term but, I'm primarily a swing trader so I make every attempt to enter a market at an optimal price and if my analysis is correct, that will not happen for at least a few weeks. Thought you might like to know how I view the technical side of this market.
I'm thinking that Tuesday would be an obvious entry point but, I do have other charts to consider as well. If I take a position, I would expect that it would move back to the previous high to test resistance there but aside from that I would have to watch it daily and see what develops. If the move up is to sharp, then we will probably see profit taking and a pull back before it develops a steady up trend.
Thanks for the tip on SWME, I will look into it. My initial observation of the chart however is not that positive. It appears to have broken out seen early profit taking and found support but now it appears to in a consolidation period where the chart is forming some kind of weird diamond formation which are very tricky to trade especially when they occur immediately after a breakout. My purely technical opinion is to take a wait and see stance. If I were long, I would hold. Not having a position, I would have to say that there are better looking charts to invest in at the moment. But, I will take a look at what fundamental propaganda is out there and if that looks positive, I'll try to find an entry point somewhere down the road.
Thanks Pete! I think I first learned about OTOW from the breakout board. There are so many stocks that I usually only look at those that seem be getting noticed. I'm primarily a swing traded who relies on technical analysis more than fundamentals but I do hold long term positions in stock where the fundamental propaganda seems promising. In those stocks, I typically take a position on a buy signal and look to sell at least half on the next sell signal and then I buy back more after a correction but continue to take out profits along the way until I have my original investment back and the rest of the share become a free trade which I continue to swing trade as long as it remains in an uptrend. I really like the looks of this one.
Not wrong at all. Any savvy trader would know that it's accurate. The Fibonacci retracement possibilities for a run from low support (somewhere around $0.0002 I don't have an accurate price on that) to $0.005 (the recent high) following an exhaustion gap, divergent sell signal and a key reversal day would be at best the 50% mark around $0.0026 ($0.0025 to 0.00275) and the 66% retracement (very possible) at $0.0018 and with support so close at $0.0016, it would not surprise me to see a drop to that support area before it finds a bottom. Perhaps you have some other way of analyzing that. I don't know. You don't say. All you do is say I'm wrong but, make no attempt to explain where you believe the stock is headed and why. I've been very clear and consistent on my opinions. For right now at least, there are many more opportunities where the timing appears to be very good for a move up next week, which is where my money is headed at this time. I'll keep track of TYTN and likely take a position in the next two weeks if market conditions appear to be right to buy. Today from my perspective, I see it as short term bear market and I hate taking a new long position when it price is falling. I much prefer to wait for firm support and buy prior to or as the price is heading back up. The first move up after a confirmed top, is not the right one to buy into in my opinion because there are usually three waves (one down, one up, one down) according to Elliot Wave Theory. But, I'm not wrong in my analysis. It's by the book for the most part. Perhaps you should explain how your analysis differs.
I just discovered OTOW and technically speaking, I really like this stock. It had a huge run up and then made a normal correction after some profit taking and has supported well just below $0.01. Now it appears to be making a new run up to test previous high price resistance. I have not looked closely into the fundamentals vet. I'll have an opportunity to get to know it better this weekend. For those of you who are long this stock, it looks to be to be a very solid low priced investment just based on the price activity of the stock.
Key Reversal Day: A pattern seen when charting a stock, where a stock price within the course of a day will completely change its pattern. To qualify as a key reversal day, the price can either start by opening at a level above the previous high, continuing to rise, and then falling to below the previous day's low
Read more: http://www.investorwords.com/7667/key_reversal_day.html#ixzz1NiCGOIUk
Notice that it does not say the market needs to close below the previous low. IT says fall below the previous low which this market did. In fact, it only needs to close below the previous close. Confirmation is a subsequent down day which we saw on Friday. A standard Fibonacci retracement for a run up from $0.0002 to $0.005 of 50% would indicate a decline to $0.0026. However, the low end of a standard retracement would be at 66% or $0.0018 and since there is previous support at $0.0016 it could go that low before recovering. Will it actually do that? There are no certainties. I certainly never said there were. Also, which I did not mention previously because the divergent sell signal should have been enough is the fact that on Monday the 16th the market gaped up and that gap was closed quickly but, now with a clear sell signal, and key reversal, one might refer to that gap as an exhaustion gap which adds to the evidence that the market is topping here. Now I'm getting a little annoyed that you continue to persist with your rebuttal. It is however, obviously important for you to do so. However, I see no reason why I should continue to teach you technical analysis. So, if you need more information go read a good book on the subject. I'm voicing my opinion, you have the right to disagree but, could at least get your facts straight since you continue to say I'm wrong. It's an opinion! How can a person's opinion be wrong? It's simply different from yours, that's all it is. I've already told you that I read charts a little differently that most so called experts. That does not make be better or worse just different. Oh yeah, I almost forgot, you probably don't understand that word Fibonacci either, right? Ok, here is a link that will help you understand what a Fibonacci retracement is
http://www.investopedia.com/ask/answers/05/FibonacciRetracement.asp
I honestly do not care if you like my analysis or not. If you believe this stock is undervalued then buy more at these high prices. I could care less. I believe there will be better prices in a few week. That's my opinion. You are certainly welcome you your own opinion. But, you might just ask yourself why my opinion seem to bother you so much? If it did not bother you, you would not have spend so much time attempting to discredit it. Your opinion has no effect on me whatsoever. Buy more on Tuesday if you like. I simply prefer to wait for what I believe are good valid observations relative to market activity.
I'm sorry, I'm having trouble understanding your post. Are you actually trying to say that the market did not go down over the last two days? Technical analysis is not perfect and the market does not always do what I think it will do, but when I warned you folks that I was looking at a key reversal day (which turned out to be true) and all you do is to get angry, that tells me that there are a lot a frightened people out there holding long positions. I have no position but, I want to buy in. If you are all really that scared, then the price could very likely go lower than my predictions. I hope not. Chill out people! The market goes up, people take profits and there is a price decline and a consolidation and the market finds support and it goes up again. This market is overbought. It's due for a consolidation. It's a normal thing. Just deal with it. It has nothing to do with anything I said. It was already happening before I mentioned it. What's amazing to me is that some of you holding the largest positions are the ones who seem to be the most frightened. Is it possible that they are shorting this market and don't want anyone to know? I'm waiting for the dust to settle and the market to find firm support. I'm suggesting that you might want to do that same. Is that a reason to go insane on me? You decide!
Thanks. I'm a swing trader for the most part. I do accumulate and hold a position for the long term but, I sell off 1/2 of it at every top and buy more on the subsequent buy signal. I have found that by doing that, I can actually get my original investment back out of the market and I end up with a FREE trade. To me, that is the only sane way to trade the PINKs.
Hind sight on this chart would have been to buy at the beginning of May because there was a clear divergent buy signal at the end of April. Too bad I was not watching it then. I could have gotten out with my original investment in tact in the last two days and would have had a nice profit to buy back in with after this correction for that FREE trade.
It's not really a cup and handle. Anyway, the most recent chart formation is an interim top.
Thanks for the links - this is good information!
The normal Fibonacci retracement is at $0.0025 to $0.00275 and I would expect to see that support tested next week.
The chart is not really looking that good since there was a confirmed sell signal just two days ago. Reality man.
I don't intend to wait for a profit to buy in. But, I want to be an optimum price and the most shares I can get. News about a new technology is not that significant. It could still take years to perfect it. News of a huge sale would get more points in my notebook.
That could happen.
I think you may have meant .003 and .0039. The bulls are still eager to buy today giving support to today's lows but, the volume is weak so, I still believe that tomorrow will also be a down day. In fact, a divergent sell signal (prices head higher while stochastics decline) is generally (in my experience) an indication that more than one support level will be tested. So, we have support at 0025 and 0020 and 0015 and I believe that 0.0025 will not hold for long. The normal Fibonacci replacement from a run up from .0005 to .005 would be around .00275 But, the run up actually started a little lower than that so .0025 should be first support and should get a bounce but, I believe that there will be a three leg decline off this sell signal (it's not a normal pull back) so, that means one leg down to .0025 and a bounce up to perhaps .0035 or so and then another test of the .0025 support level. If it fails to support there on the second test then we could easily see a third leg down to .002 or even the 0.0016 to 0.0019 area I mentioned yesterday. None of this is guaranteed. It's all speculation on my part based on what I see in the charts and past chart formation I have seen. The decline could easily last until the week of June 13 through 17th. IF it does and the market appears to find firm support somewhere that week, I will be looking to buy. A lot can happen in the news to change this and all you can hope to do wit technical analysis is formulate a plan. Most of my plans are works in progress that I will eagerly abandon when market conditions warrant. So, right now, I'm in wait and see what happens mode with a plan in place and everyday I look for a reason to reevaluate that plan if necessary.
Just a minute! I'm confused here. Is the market not headed in that direction now? I never said it would get to 0.0016 today, did I? In fact, it may not get there at all but, I was right about yesterday being a key reversal day and today is confirmation for that. Why are you so angry? All I did yesterday was to state the condition of the current TYTN chart formation and what it meant to me. You would be a less fearful if you would take the time to learn something about technical analysis, then If I should say something like "it looks like a key reversal day", you could simply look at the chart and decide if I knew what I was talking about or not. There is no need to be angry that I tried to point out something which I knew was likely to happen. In fact, had you decided I might be right yesterday and sold off 1/2 of your position just in case, you would have been thanking me now. The market will go back up. Sub penny stocks as you should well know, are highly volatile. That is why it's a good practice to take profits when you can. If I were you, I would be glad the market was going back down a little or a lot so that I could accumulate more stock at a better price. isn't that want we all want? This stock is not going to get up over $1.00 until the fundamentals become more substantial. In the mean time news will likely cause runs up in price after which there will be a correction. This market is just over due for a correction. It's not rocket science. It's more like common sense.
Well, if I'm not mistaken, I did say that high volume spikes back on the 15th and 16th at market high prices was an indication to me that a lot of people were taking profits. I also pointed out the divergence in the stochastics with the new higher price and the fact that a key reversal day appeared to be in progress. So, any chartist should have been able to look at the current chart and confirm that. All I do is report what I see and tell you what it means to me. There were a lot of people who seemed eager to buy yesterday at what I perceived to be very high prices. I was hoping to cause them to perhaps tone down their emotions & rethink their decision. What they decided to do with the opinion I provided was entirely up to them. As it turns out, my assessment of the market condition was correct.
Ahhh! YES. Very true but ... A man may not have precise knowledge of a particular thing but he can think an make judgments and suppositions about it. He can conjecture and see it to such a degree of correctness and accuracy that his actions and expectations in relation to any particular thing may in fact be exactly right!
When you have a solid foundation and understanding of the workings of technical analysis, you begin to see and feel and in fact know precisely what is taking place and when you combine that with the courage to act on those feelings based upon faith in your knowledge and understanding, amazing things will happen.
I believe you are right. but, this company is just starting out and you don't go from being in debt to turning a profit very quickly and only earnings per share will sustain a stock price. Right now, there are no earning per share so the stock price will likely rise and fall on speculation. That is where sound technical analysis comes into play to let you know how long to hold a position and when to take profits. Looking at the chart, it is obvious to me that a lot of people have decided that it's time to take profits. When you have more sellers than buyers the price will go down. IT won't start going back up again until more people are willing to buy than sell for whatever reason at the current price. Technical analysis helps you determine whether the buyers or sellers are the more aggressive and based solely on that where the price might be heading. Right now it's down.
I do not have the capability of capturing and writing on a chart for you and I certainly don't have the time. I do not make notes on my own charts. I look at them and do a complete analysis in my head each time I see it. You never know for certain what support or resistance levels are going hold until you look at what has held and for how long. I can't teach you everything I've learned about technical analysis over the last 20 years in a chart annotation. But, you could go to Barnes & Nobel or Amazon.com and buy up all the books on technical analysis like I did and read all of them and throw out what does not make sense to you and then try back testing what you've learned and picking a subset of indicators that you are comfortable with, etc. and over time you will be able to look at chart and know exactly what is happening. For me, yesterday's TYTN chart was very obvious. I had seen that very same pattern on many previous charts and I knew what appeared to be taking place. Today, it's obvious to more of you what happened yesterday and tomorrow it will sink into still others but, when you finally decide to take the time to learn from the masters who founded technical analysis and have written books about it, you'll know what I'm talking about and you'll be able to see things in the charts and act on them in a timely manor. My mistake yesterday was trying to point out what was obvious to me to a group of people who new nothing about it and in fact probably saw it as some kind of witch hunt. Knowledge is power. Especially when trading stocks and commodities. Most people lose money trading because they simply do not know enough. I was just trying to share what I believed to be true based on what I know from previous study and experience.
Yes, it's going up LONG TERM but, not yesterday or today or tomorrow. Market timing comes from sound technical analysis. It would really benefit you to learn more about that. This stock has not got sound fundamentals. Not yet! The bottom line is there are no earnings per share and it may be along time until there are. In the mean time, the market will rally to a point where the majority of the traders feel it is time to take profits and then it will fall back to where they then feel it is a good price to buy back at. In till the stock gets over $1.00/share there will very likely be a lot of ups and downs along the way. Keeping track of the technical side help you to know when the market is likely to turn around. For me, yesterday was a no brainer. If you take the time to learn about technical analysis, you will also be able to do the same thing.
Technical analysis really help you to decide when a good time to take profits arises. Anyone who was long yesterday, could have sold 1/2 of there position and when the market finds first support in a few weeks or so, they could buy back more shares at a better price. I was just trying to be helpful and share what I knew about this market technically. Most of you were just blinded by what you consider to be great fundamentals but, the reality is that the company has no earnings per share so, you can only guess at the the stock might be worth today and when, if ever, they will actually turn a profit. Taking profits yesterday was a good idea. Sorry that you and so may others chose not to see that. It did try to warn you.
That's right! I'm looking to take a position in SIRI but, at the present time, I think the price it too high. Since it appears to be top heavy here, I'm going to let the market tell me where to buy in at. It will be a while before I have a clear buy signal.
It would have been a smart play to sell perhaps 5,000,000 shares yesterday at about $0.0044 when $0.0045 was clearly a strong resistance point for this stock. But, I only play the long side of stocks. It's just easier for me to pick bottoms than tops. Yesterday's top was so obvious however and today's follow through price drop just confirms it. Sit tight! It will comeback up again when the fundamentals become more realistic. For instance, you can talk about sales increases all day long but, until there are actual earnings per share to go with those increases, you can only guess at what the stock is really worth. So, it looks like the smart money has taken profits and will now wait patiently and accumulate even more shares when the price it right in anticipation of the next run up. I'll be joining them when they do.
Outstanding! Thanks! That would be the right source for that information.
I don't know if you would recognize the name Larry Williams or not but, he's been a long time very successful full time stock and commodity trader who has done a great deal of his own research and has even sold some investment books over the years. He is the inventor of the Accumulation/Distribution indicator and also Williams %R (percent of range). Anyway, in his book "The Selection and Timing of Stocks for Immediate and Substantial Gains", he talks about the research he did and even shows a chart to back up his findings (very impressive by the way) of how you could use the phases of the moon as one of your timing tools. At the NEW moon, markets tend to top out go down and at the FULL moon, markets tend to want to find support and then rally. When I first read that, I thought he must be nuts or something but, I always do my due diligence and test out the things that I read to see if they actually do work for me. I was completely amazed at my findings. So, now when I assemble my tools for timing my trades, the moon is one of the things that I always consider among lots of other indicators to help me time my trading. The next full moon (June 15th) is during the week of the June the 13th. And, just by-the-way, this is a holiday weekend and when we get back to trading next week, it will be June and the 2nd (Thursday) is the NEW moon and a time that historically favors market tops. For that top to form early or late is not unusual. In this case, I think we saw it today.
Key Reversal day today and that's all there is to it! That's the Truuf! I tried to warn you. All most of you did was get mad at me for pointing out the obvious. Anyway, don't panic tomorrow if the market goes lower again because you guys are in this for the long term, right? Look for the rally get get underway again around Junt the 13th. I'll be back!
If course! The technical indicators always tell you exactly what the market is doing. Back on the 15th and 16th, people began taking profits in this stock. Today, it looks to me like a lot of speculators began shorting it. Some of them were stopped out on that intraday rally but, right now it still looks a lot like a key reversal day with a divergent sell signal forming.
This is NOT an oversold market. Far from it! You need a good book on technical trading and it you continue to ignore the technical side of the market it will cost you over the long term.
Buy if you want Deer. But, I'm waiting until around the week of June the 13th wen prices will likely be much lower.
Why are you so angry Nik? All I did was point out the obvious which at the moment still looks to be true. I never disputed the fundamentals and would not sell this market short although it's obvious that today's intraday rally was sparked by shorts getting stopped out. However. there were still a lot of sell orders waiting to be filled at $0.0045 and shorts that got stopped out likely reentered for a day trade and at the moment, it looks like they will be in good shape by today's close with lower prices again tomorrow.
Joe, I never disputed the fundamentals. I'm looking to go long. But, I'm not willing to over pay for this or any stock. So, I use charts for timing the markets. I tried to warn you folk today that it was a good day to take profits. As of right now, it still looks like I'm right. Expect lower prices again tomorrow.
It is clearly in an uptrend. I'm not disputing that. However, did you ever hear of a market correction? My technical indicators are telling me that this market began to correct back around the 15th and 16th. Market momentum bounced it back but, the indicators don't usually lie to me and right now unless the bulls get a miracle rally in the last half hour, it's still a Key Reversal day and lower prices should follow tomorrow.