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I'm not selling, in fact I added more on the dip today. But I'm stating a fact when it comes to what we're seeing.
With no buying pressure the MM's will take it as low as they can, and weak hands will sell driving it down further. The only thing that will create buying pressure is a positive 8K or press release, and when that will come is anyone's guess.
ATRN is wound tighter than a drum. I think most of the float is tied up by followers of this board. The slightest bit of positive news will see a massive breakout, I'm just hoping that's what we get.
I love that show Swamp People. Stick to huntin' gators - "Whoa Elizabeth that's Big Daddy right there let's get'em!"
Their tweets are subliminal messages to investors! lol
Dr. Pennystock issued a sell to his members who have been waiting for a spike on ANDI which can account for some of the selling pressure. But it looks like clear sailing upwards if the buy pressure increases again.
Ducky is spot on. I'm one of those who has been bid-sitting for the past 2 weeks and I've accumulated a LOT of shares.
I'm not spooked, I have a very large position in this. All I'm saying is that without any buy pressure and large blocks on the offer it's not going anywhere. The volume is anemic for a stock with this kind of a float.
Good news will create the needed buy pressure, or, manipulation by the MM's (I don't care which).
There is still a LOT of stock out there on the ask. NITE is sitting on Level 2 with 778K shares at .023. Need some good news for this to run I think, there's not enough volume to trade it by the chart right now.
I understand it's consolidation; it's also everything else I said.
Let's put things in perspective:
1. Many daytraders have left the building
2. Those holding big positions and added on the way up are pretty much done buying
3. Exhibiting at a trade show is irrelevant to the stock price
4. The "momentum" (MOMO) has slowed down
5. Without MOMO and significant buy pressure, the MM's will take it down and flush out weak hands
6. The stock needs positive news (a PR, an 8K, whatever) to make the next run
I've made a LOT of money on this stock, and I believe there's a lot more to be made. But I readily admit I've been nervous as all hell like everyone else.
I'm not in this for Spyder I'm in it because of the other business services they provide; what concerns me about Spyder is there appears to be no intellectual property associated with it. No trademark or patent filings which leads me to believe this technology is not proprietary. Perhaps someone could correct me if I'm wrong.
There was definitely panic, I'm just not sure what caused it so suddenly and that's what worried me. I've been in and out of this since .008 and have watched it all day every day since. We've had pullbacks, corrections, profit-taking, consolidation, and other moments of panic selling, and since we're in uncharted territory (no pun intended) that could be what happened. I hope so.
I believe it was around 7 million before they issued about 80 million shares to BD to help pay their debt. The O/S is around 87 million now, so anyone trying to compare pre-dilution share price with post-dilution share price is not comparing apples to apples.
I'm concerned about the big drop from .24 to under .19 after lunch and only a modest recovery late in the day. Almost as if news was leaked, that's the type of trading we saw. Could have been just a rumor, or profit-taking, or MM manipulation - or a combination of things - but I decided to hold off adding more because of it. Let's see what the morning brings.
Yeah that's what I was thinking as soon as I saw that wave of selling and huge drop - maybe some news leaked.
Need more buy pressure to take out that 300K, the buy pressure has weakened since this morning.
Doc, where is the next "strong" resistance after .15?
I figured there was a big block sitting at .15 which is why they were holding .1499 for so long. Need some more buy pressure to clear that block out before this can go higher.
Without news and more buy pressure we may trade sideways for awhile; the stock has had a huge run, we saw some take profits today around .13. I traded it several times in the past few weeks, now I'm just going to hold my position until it reaches my target price.
Need to clear out the big block at .095 before we can move higher
MM's are scrambling for shares they can't shake out much at all
Yes, shares are very scarce but we need more buy pressure for a big breakout. That will come with news.
That's a good question. It was so long ago that I can't recall exactly how the conversations went, but everyone was so caught up in becoming instant millionaires that it just seemed easy to buy one stock and watch it fly. Oh well, live and learn, it was a hard lesson but that's how life goes.
Doc, I'll never forget that time either. I had $200,000 to invest and my broker gave me 2 choices, he said it didn't matter which one I bought they would both skyrocket. I chose LHSP (Lernout and Hauspie, a speech-recognition company). The stock tanked after it was found out the CEO was cooking the books, I lost everything.
The other stock was EBAY.
True story. But it ultimately led me to you so there's a silver lining!
The seller with 500K at .077 needs to be cleared out before this can move higher today. MM's will keep the ask just below .077 until enough buy pressure takes him out.
Rest assured the MM's knew about Goldfarb resigning before the 8K came out and before anyone here knew. This company is too well-connected not to have that info disclosed as soon as it was decided.
Also, a company planning an imminent bankruptcy filing doesn't pay down debt, because those payments can be ordered returned by the court and trustee.
It may well go down tomorrow to shake out the weak, but I'll be adding more if it does.
Having his LinkedIn profile hacked is not out of the question. Not much else makes sense based on the evidence presented.
I have Level 2 with TD Ameritrade, but it won't show bid/ask for Pink Sheet stocks.
Anyone else have this problem?
Thanks.