is ... YES - Another Profitable Day!
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There is ALWAYS fluctuation in the market. What goes up, must come down. It appears that it's time for this one to go down for a while at least. I'm not disputing the fundamentals. I just tried to warn some the gung ho Joes that it's not the best time to buy.
I do not solely use charting. Charting is a timing tool. Right now, my charts are telling me not to buy TYTN. However, since I'm looking to enter the market at a good price on the long side based upon the fundamentals, I'm not going short here, I'm waiting for a better price which the charts say is inevitable. I got to hand it to you bulls however, you actually scared the bears a little today. So much so that it prompted a short covering rally back to $0.0045 where there were still a lot of short orders waiting. I expect that many who were short at $0.004 and got stopped out also sold again for a day trade and as of right now, it looks like they took money out of the market and are right back where they started from. I expect lower prices again tomorrow.
I don't think it will get that low but below $0.002 is a definite possibility.
KEY REVERSAL day today! Over the long term I think you're fine with a price of $0.004 - However, at present, purely from a technical stand point, we are witnessing a KEY REVERSAL day. That should complete a nice sell signal on the daily chart. I've been watching this stock for a good entry point, and I now believe it's headed all the way back to between $0.0016 and $0.0019 before it finds firm support from a substantial volume of buyers. If you're a technical trader, you can see that this market was extremely over bought back on the 15th and 16th and from the heavy volume, a lot of people took profits on those days. This last ditch attempt to surpass and close above those high has met with solid resistance and a divergent sell signal is now evident in the stochastic as well as Williams %R indicator. I expect the price to pull back now until around the middle of June. I'll likely be a buyer at that time.
That is a lot more shares than I thought. Where did you get those figures? Is there a link you can share?
If you're a seasoned trader Turbo, you should know that rule is you always Sell the News. Especially when it comes from a blogger who is admitting he was wrong and in the face of a looming and ominous double top formation on the charts. Why should you sell the news? Because most likely the smart money has already anticipated what it would be and has positioned itself accordingly and so the news is already discounted in recent trading. Today, we witness the calm before the storm. That low volume day when the smart bulls have already taken there profits and smart bears are already in position and everyone who knows anything is anxiously awaiting the turn in the momentum that will eventually topple the tree as prices once again fall back into a very attractive lower price range. I wonder if Cameron Kaine will have to write another article stating he was wrong again or if he will be wise and patient enough to wait for an optimal entry point into this market? Only time will tell, I suppose. Enjoy the calm ...
Price action over the last 5 days favors the bulls even with the low volume and little attention this one has been getting lately. The market is extremely over sold and I expect that an explosive move to the up side could begin at any moment. If not today, possibly tomorrow.
Thanks for the post! I read MACD a little differently than most. So, from my take on it, it's confirming what I see in the Stochastic. If you look at the weekly chart, the it's pretty obvious that the strongest line of support rests right at $1.25. Will it go that low? Probably not. The next strong line of support is around the $1.60 area and then $1.85 - $1.90 and on up. So, after looking at the weekly chart I would not be too quick to buy back in above $1.60 unless I had a very good reason like a confirmed buy signal. I would be a buyer at $1.25 just on principle. After all, how low can it go following the nice run it's just had.
I agree that the future is bright long term but, that is the fundamentals. Today the technical are speaking loudly and warning to that a market correction is coming. The technical indicators are like the handwriting on the wall. You look back a months from now and ... Oh! Of course it was due for a correction, right? I'm just telling you that while you are being blinded by the light, I'm seeing the handwriting on the wall and I'm trying to tell you about what I know so that you might at least sell off part of your position to preserve profits. Then buy back more at a much lower price when the rally regains it steam. You can lead a horse to water but ... all I'm saying is I'm a neutral observer trying to get you to open your eyes.
Ok - Tech analysis 101 - When a stock makes a new high and then makes a correction and rallies back again to it's previous high or even slightly beyond and the stochastic and MACD indicators do not follow suit during the latter rally (which is the case here), it is definitely WEAK and an early indication of an impending sell signal. If prices fall off tomorrow and Friday and you revisit the chart, what you have is a double top with a confirming divergent sell signal in both the MACD and Stochastic. I define that as decidedly weak. What do you define it as? Like I said, if I had any of this stock, I would have sold it all after noon today. The volume has been peaking for the entire formation of the top indicating that a lot of other people have been taking profits here also. Because of the double top formation I would not expect support above or at $2.00 to hold for long. I would be a buyer below $2.00 on firm support and a confirmed buy signal. There is also a new moon on June 2nd. A savvy technical trader know that within 3 days of a new moon, a top heavy market will likely fall sharply. The reverse is true for the full moon. If you doubt that, it's really easy to prove. Just get a chart of any major market indicator or stock you are following for about 10 years and plot the full and new moons on the chart and see what that shows you. Our emotions give way to the influences of the moon and stock prices give way to emotions of the investors.
I agree! And, that is really GOOD NEWS for the small investor who only has a few hundred dollars to risk. He could buy lottery tickets with that money, or he could buy and accumulate through trading several hundred thousand shares of this speculation which could easily get enough of a bounce to pay off the mortgage on his house. I still say this is a NO Brainer! Patience and steadfastness in your goal and the determination to see it through. It's a five years project so, give it five years but, watch the market. When opportunity arises, take profits and get to where you have your original investment back with interest and the rest is a FREE trade!
SIRI - Extremely Technically Weak! - If you watch the technical indicators when you trade, you must be concerned about the very probably double top with high volume and extremely weak stochastic and MACD. I believe this market is due to fall back initially to the support at $2.00 and then take a further tumble although it's really too early to call that one. The next support would be in the $1.85 to $1.90 area and with a double top (if it remains) I believe that is where it will go. I was analyzing this stock to determine an entry point because I'm long term bullish but, I will have to be on the sidelines for now. Bulls should consider taking profits here. I know I would if I had any.
Ok, so I'm guessing that post was FICTION, right?
I thought they already had a ship with a manifest. Wasn't there mention of that in the new release on the two ships found in the Philippines? But, to answer your question, Yes, I think it will get to 0.01 just on the bulls trying to accumulate a position. I don't think it will close over $0.01 however at least not the first time it tries.
You must have lost a heal on one of your shoes ... Look at the Intraday chart, it's trading up. It would not surprise me if it closed at $0.0016 but, then again, it wouldn't worry me if it closed at $0.0013 - It has great long term potential and only the frightened trader will get hurt in this market. Well, maybe a bear or two also.
I think that very optimistic but, I suppose it is possible. Like I said, I'm just guessing at the numbers. If you are basing your numbers on some previous find, then you are probably closer than I am. Whatever the real numbers are, it's bound to go up from here.
There was actually good buying at the close on Friday and the bulls really won on the day even though the close was lower than Thursday. The market is responding normally following a key reversal which also came on a full moon which is right where it should be. So, I expect to see a bull market now until the beginning of June. How strong, I can't say but, you should see higher lows and a few new highs at least. The market should retest $0.0035 and maybe even make a run for $0,006 technically speaking.
I agree! In fact, I firmly believe that this stock will make a firm run for $0.01 very soon. Then we'll see where it supports if it meets hard resistance there. Near term resistance should be at $0,0035 and again at $0.0060. From there it should be a clean shot to $0.01. I would expect to see resistance there and then firm support at either $0.0060 which would be a strong indication of higher prices or support at $0.0035/$0.0040 which would indicate that another one or two tests of the $0.01 are will likely be needed to get up into pocket change prices. Patience and accumulation is the key. Buy on price dips just like on Friday. The stock hit bottom basement prices and rallied back quickly by the close. I talked to some one recently in a chat room that is currently sitting on 60 million accumulated shares of ORRV which they plan to see off very slowly at strategic resistance points with the objective of accumulating more on the lows. They were after a 100 million share accumulation and fully intended that the stock would be trading over $1.00/share by early next year. Wish I had bothered to remember who that was but, I was browsing and chatting in a hurry while watching the price action over the last four days. I'll no doubt come across them again.
The big difference between OMEX and ORRV is the number of outstanding shares. OMEX has only 92 million shares outstanding (ORRV almost traded that many shares today) so it makes it a lot easier for them to show decent earnings per share. It's interesting to me that there current EPS is a -$0.36 and the stock still rallied to $4.00.
The number of shares outstanding is something to be concerned about however. ORRV could easily declare a reverse slit to reduce the number of shares outstanding down to a number that would allow them to show greater earnings. So, a position of 1 mil shares today, if they did a 1 for 8 spit to get the number of shares reduced to 100 mil would end up being only 125,000 shares of course the price would also be adjusted up with a share split. That would make it easier for them to qualify to get on a major exchange if that is one of their goals.
Also with OMEX, it looks to me like they may have gone public back in 2007 at just under $8.00/share and from there it pretty much fell like a rock until it hit $1.00/share recently. So, it's not a great comparison (although ORRVs chart does look similar) but, it is worth looking at the numbers for OMEX.
From a purely technical perspective, the Bulls have won the daily battle 6 out of the last 8 days, so I would bet on higher prices which should establish a second leg up beyond the $0.005 area toward $0.01. I would be surprised if that does not happen. I have taken a long position in anticipation that it will.
INO.com sees EMKR in a strong Uptrend and as a technical trader, I agree with that. At the very least we should fill the gap at $3.00 and test the previous highs just above $3.20. But, if there is a drop after filling that gap and/or retesting the previous resistance, the stock should support nicely in the $2.75 area and consolidate for another run at the Highs above $3.20. From there it should rise steadily toward the $4.00 mark but, it's a little early to call the resistance there.
How high could the price of ORRV realistically go?
Conservatively speaking, a price of 20 x earnings is generally considered realistic for almost any stock. Today, however, it is not unheard of for a stock to sell for 50 x earnings at it’s peaks. So, what might ORRV be able to show for earnings on the 5 cluster shipwreck valued (based upon manifest information) at a minimum of $2,000,000,000 (today’s dollars)?
Let’s do a little math. The cargo is in International waters so, they don’t have to share anything with a country but, ORRV is doing the right thing and attempting to locate any ship owners or merchants with an interest in those cargoes to work out a settlement with them. I have no idea what a fair split might be but if we can assume that ORRV could manage to show a profit of just 10% of the total value of the salvaged cargo (and if anyone knows what kind of profit they turned on previous finds (because I don’t) please comment and update my figures). But, at a 10% profit, then a $200,000,000 profit with 817,937,177 shares outstanding would be earnings of $0.24/share. At 20 x earnings that would support a stock price of $4.80. With high volatility in price swings and discounts up to 50 x earnings, peak prices of the stock could go as high as $12.00 just based upon the 5 shipwreck cluster alone (not including the Philippines).
This is of course purely speculation on my part as to where the stock could be heading but, if the figures I based my math on are even close to being correct, everyone who has a million or more shares at current prices will be set for life if the invest the proceeds wisely.
Just some food for thought and any comments on any of my numbers or calculations is highly desired and appreciated.
Thanks for that info! That is very early information (April 2011) but the sock accumulation really started to get underway back at the beginning of march so, someone believed it to be more than just a rumor. Add that to today's news releases and look back at the stock price action and you can clearly see that something is a foot, as Sherlock Holmes would have put it! It's going to be an incredible ride to the top wherever that may be!
INO.com just UPGRADED their analysis of ORRV. Last week they were giving it a -70 calling it a downtrend and this week, well, here is what they had to say ... Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the near term Very Weak Uptrend with very tight stops.
Based on a pre-defined weighted trend formula for chart analysis, ORRV scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
My 2-cents - The trend it turning up and it's on it's way to a penny for sure (maybe even 2 cents)!
GREAT Buying Opportunity! I'm a buyer at $0.0016. Increasing my position by more than 50%
You know, I recall reading something in one of the press releases that led me to believe they may have been invited there by the Philippines. As I recall it talked about a gold coin given to them by someone from the Philippines and that they were also given information about all the missing ships and their manifests. So, I agree that they very likely are not just wasting there time in the Philippines. It would really benefit anyone who is serious about this stock to go to the companies web site and read all the recent company post from about the middle of last year. This company seems to really know what they are doing and you might also be interested to read that they are already making plans to emerge from the PINKS on to the OTC where they will get a lot more visibility. So I say accumulate the hell out of it and eventually the bears won't be able to sell at low prices anymore and may even start buying from us when the market get overbought and we begin to take some profits. It's always an up and down motion just like the sound waves in the beautiful music you are now hearing titled How Sweet it is!
If any of you folks are very serious about your ORRV investment and see it as a long term investment that has the potential to reap serious profits from over time, then you should really go to the ORRV web site and register with them as a "registered investor". The benefit is that you will be placed on their investors email list and you will be notified of any new press releases immediately before they are printed in the news letters. It makes good sense to get as far on top of this thing as possible. I'm looking to accumulate shares in ORRV largely by selling off 1/2 of my position at strategic selling opportunities and them buying it back when I get a subsequent buy signal. I trade primarily through technical analysis. To date, I've just been a buyer on the premise that the fundamentals look very promising long term and how low is low, really? The downside risk is almost a joke, the upside potential is incredible and with the right trade strategy, I can be sitting on a large share accumulation that has largely paid for itself. So, I plan to be here for the long term and if there are a lot of false starts like today appears to be judging from the close, it's not going to scare or bother me in the least. Those who may have been short today most likely covered those shorts at the close and may even be buyers with those profits tomorrow. That is how this game is played. You need to have a little Pirate in you when you buy shares in an off shore salvage company, you know what I mean?
FLPC Appears to have completed a crude cup and handle pattern on the charts which is one of the most reliable chart patterns which indicates that the price should move a lot higher now.
If you are a technical trader, you might like to take a look at another penny stock that had a KEY REVERSAL day yesterday and had a nice follow through rally today. Current news is very positive for this company and I personally believe it is the best long term speculation I'm holding at the moment. Get a quote on ORRV and check it out! The next five years for ORRV company look unusually bright!
Those checks and balances you mention in your earlier post are actually just a way for long position holders to take money out of the market and still keep or even add to there position. Let's say to bought 2 million shares yesterday at bottom basement prices before the mid day rally. Today the new goes public and as a savvy trader you know that the rule is you always sell the news. So you sell off 1/2 of your position at say $0.0032 and wait. In a little while you see an opportunity to buy those shares back at $0.0017 making a cool $0.0015 points on a million hares which could could pot to buy more shares with and you still have the original shares you bought yesterday. It's risky (that's why you only play with 1/2 your position. But, if you are a technical trader and have assess to intraday real-time charts, it's a very nice move indeed.
Not sure what ORRVs first salvage operation will be. The news today made it sound like the 5 ship cluster may be in a different location. They are still negotiating with the Philippines so that salvage operation won't start until negotiations are complete. That could conceivably begin before the operation in today's news. It's important to remember that they have more than one ship and they have partners in the salvage operation so they can do more than one thing at a time.
I like this trade because for the first time n a long dry spell this company has the potential to recover a huge amount of cargo over a 5 year period and it should provide solid earnings over that period and the stock price has the potential to steadily rally over the next 5-years or more depending on future discoveries. It's an accumulate and hold situation will you can trade along the way with 1/2 your shares and have a significant number of shares accumulated at the highest price points along the way. I love this trade!
There are an awful lot of shares outstanding so, that is not likely but, if any of you folks follow the sub penny markets with technical analysis, you will notice that today was a KEY REVERSAL day which is a fairly clear indication that you won't be seeing $0.0011 prices again for a long time. The volume has been consistently higher since the beginning of March and I (for one) and many others have been accumulating this stock on dips below $0.002. I really like the fundamentals. If you read any of the recent press releases found at the companies web site, then you are aware that this is a 4 to 5 years exploration project to locate and salvage many sunken cargo ships off the Philippine coast. This is the very beginning and the first two ships have been located and identified. All it takes now is confirmation that they have actually recovered any cargo at all and it will be proof of the tip of the iceberg and you will know for certain that there will be many more such recoveries over the next 5 years. This is the first time that this company has been in a position to reap a really significant and consistent dollar amount in recoverable goods over a lengthy five year period. I believe it is very possible for the stock to mount a significant 5-year advance and at today's prices (if they last a little while longer) it is very possible to accumulate and trade for a significant holding by the end of this run. It is definitely something to think about. It might even keep you awake at night playing what if scenarios in your dreams. For me though, it's the confidence of knowing that this is the most real long term low price to much higher penny stock opportunity that I have seen and I fully intend to bolster my retirement through this opportunity. What's the down side? Amazingly small. how far can the stock go down from here? Fluctuations in the history of this stock will give you an opportunity to sell at a profit eventually if you are patient even if they find nothing at all there will be other finds and other price fluctuations so the risk is truly minimal. From my point of view it's a real NO BRAINER!
I agree and besides that is old news (2008, 2009) - the stock is still trading so obviously the court order was changed or perhaps they did do a reorganization. I have no idea what's happening with this stock aside from rumors of a possible take over and rumors of a government contract being finalized but, from a purely technical analysis point of view (and I will attest to the fact that the PINK sub penny stocks do not behave technically the same as stocks on one of the exchanges but, still in any case) I would have to speculate that it appears over the last two months that stock accumulation is taking place and there appears to be a rather crude ascending triangle forming on the chart. So, it's a little early to tell but, my guess is that it's very probable that you will see prices above $0.01 before the end of summer and perhaps much higher by the end of the year. But, I can't give you any solid fundamental reason why. Technically, there is a relatively steady higher volume since last December and following the first of the year rally, the stock has supported very well on it lows. Since late march there have been several rallies from intraday lows and the bulls appear to be willing to pay higher and higher prices over the last 60 days. Resistance has been consistent in the $0.0054/$0.0055 area but whether or not that resistance will withstand another test remains to be seen. If the triangle proves valid, a break out should be eminent and $0.01 in not very far away at all.