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If you think this is a dud sell, simple as that. you clearly havent done proper DD on this company.
There is NO VOLUME today. This is not an "excuse" this is what happens when there is no volume. We traded 22 million shares on monday, and so far are at 3 million today. Do you understand thats a pretty damn big drop off?
The MMs just trigged a bit of a sell off on a day with low volume, this happens ALL THE TIME. This is nothing new. If this surpises you then you might want to think about getting out of penny stocks. If you got this stock to play it for short term gains or day tading, you also might want to think about getting out of this stock.
Hey, on the bright side, the volume has picked up nicely! Dubbled it for the day in the last 30 min or so! Too bad it's all because of sales though :P
it's called a sell off on low volume... probabbly MMs trying to create a panic to drive it lower so they can pick up more shares cheap.
Yea I wouldnt be surpised if they are even close to working out the details of one.
These sites are very easy to access and have very good roads that large equiment can easily be transported on. Getting the machines to the site is not going to be a problem and be quite cheap.
As far as where they will get the money from, there are many options here as well. Privent investors, partnerships, joint ventures, etc etc....
yea major accumulation going on here with barely 1 million shares traded for the day....
It can't get taken by a "hostil buyout" the CEO and his brother own a majority stake in the company. One of the main reasons they issued share restictions on most of their shares was to prevent this from happening.
The only options for this company are a joint venture with another compnay and or some other type of partner ship. Them whillingly selling one or more of their properties to another company. Or they could sell the whole company, something the ceo has implyed he wouldn't want to do.
Either way, any of those outcomes are great for us because they will cause the pps to shoot up way over 1 dollar. But there is no chance for any type of hostile takeovers, this company is protected from that. If anything happens, or any deals made, it will be done in the best interests of the shareholders and the company.
Nothing has a "big" impact on us other than what this company it self is doing. This is a penny stock, it's not really effected what so ever by "outside" forces such as commodity market does nore what the stock market does. The only thing that matters to this company is it's own fundamentals and what it's doing internally.
Sure, one day in the future when its over a dollar or so, these other outside forces will start to factor in and help shape the way this stock trades. But right now, the only thing that drives the price of this stock is company news, nothing more.
Your completely over complecating what is actually going on with this stock right now.
There is ONLY one "key factor" for this company, and thats what is it doing it self. Everything else is pretty meaningless right now and will be till this stock gets rolling and moves up to the dollar range.
again mostlikely not the case, these are usually just standard trades that were filled but not recorded durning the day. So they have to offically record them as a form t AH trade.
thats 100% incorrect. Form T trades are AH trades, but as you noted there is no AH on pinks. Every day on most stocks there are always some trades that are placed and filled, but not recorded when they happen, so they are offically settled at the end of the day as a form t AH trade.
These trades are not placed AH, they were placed and actually filled durning the day, they just were not offically recorded by the MMs when they happened. There are many reasons for this, if the volume is high, often times the MMs get behind and can't record every single trade when it happens and a few slip through. There are lots of other reasons to.
Dilution has 100% nothing to do with this process. This is a normal process that happens on all stocks.
only problem is we don't know if the t trades are buys or sells.....
And would someone please take the hammer out of Doubloons hand as he keeps smashing the nail right on its head
"A NI43-101 compliant drill program will be needed to market the property, and I believe this is coming."
If you are getting "depressed" and worried about this stock over a early day MM controlled sell off, you shouldn't be invested in it. Go ahead and sell now please, get out, and go put your money in cisco or microsoft....
The short term movement of this stock is pretty meaningless. This stock could be at 2 or 3 bucks by spring. Theres no volume today, when theres no volume the MMs can control it and walk it down so they can get cheap shares. It happens all the time, this is nothing new. The "good" news is just that, good news. It's not great news or a big annoucement, it's just very promising news that points to much bigger and better news coming out in a few months. If you were expecting this to run up on what was released yesterday, you might want to start learning more about mining and exploration companies....
Yea, we can say at the very least they mostlikely didn't do this in Nov, so hopefully it was in oct or sept when they sent all of this to the labs. If thats the case, the results could be coming much sooner than I expected, maybe even in december!
That would make for a nice little christmas present!
This is a rough estimate, but from what I have seen I belive the average is around 3 to 4 months for a sample this size. Maybe some of the Mine experts on here can shead a little more light on the type of time frame a sample like this would take them to do proper testing on and form a conclusion.
These samples have been sent to the Lab for analysis of gold and base metals with the results being released in a future report to the public
LOL man, I have read this PR probabbly 10 times so far and I have some how missed this. I don't know how "sent to the lab for analysis" didn't register with me. Great job pointing this out! Not sure how long it will take to get the results back from that, mostlikely a few months or so, but that could also be huge when those hit too.
I don't have much faith in the charts but man i hope your right. Would love to see this take off on a nice little run over the next few days.
Hey man kudos to you staying a fireman and helping people, much respect to you for that!
I agree with much of your post, I don't know if they are close to annoucing a JV yet or not. Based on what I have seen, I would expect a JV to come after they complete the test drills and have a better understanding of whats in the ground. That would make any type of JV much easier to work out.
I do belive they might be close to annoucing they have financing in another month or so to do the test drills. That annoucement alone would get this stock flying. If by chance they do annouce any type of JV this will easily be over $1. I know this is all coming, just don't know exactly what order or how long, I expect at the longest it will be all done by spring. But my best guess is the JV would come after they complete the test drills or at least rase the captial for it.
There is often a early morning sell off first thing once this opens, so might want to keep an eye out for that. And the noon/lunch hour is often pretty quite too and has a bit of a dip.
Lol based on what?
Yea man I was just pointing out what the actual deffinition is for form t only because that guy didn't know and I didn't want him to be confused.
But yea you are 100% right though about pinks, there is no after hours for them so of course any t trades will be trades eariler in the day.
The reason I stated that as a primary issue is that you cannot tell when the 8+million shares actually traded (during the day), thus you cannot know if it was a buy (bought at the ASK) or a sell (bought at the BID). THAT is the primary issue at hand.
Uuh what are you talking about? What have I "gotten" wrong here "lately"? Please inform me of this! Hotdog him self even commented in a reply to my post to his that I was in fact correct about what we were talking about. I love how you quote the post RIGHT BEFORE he agrees I was right lol. Nice work there.
As far as what we were talking about though its really kind of pointless as I know what he was implying, and he was correct too. I just like to get people to use stock terms correctly when answering a persons question, as it helps that person learn too.
But please tell me what I have been wrong about. I haven't really predicted anything short term untill today, which I only said I think that it will slowly go up with some pull backs here and there with spikes on news, assuming no major news hits.
I think your still up set about be calling out the "charters" the other day. It's funny you say that I have "gotten much wrong lately" when in fact the chartters have been completely wrong over the past week +.
I mean if you love to use charts, thats fine, again like I said do what ever works for you. I look at charts every day, but I just don't put quite as much weight in chartting trends for penny stocks as they tend to be way too dynamic and there are just too many factors involed to really draw any kind of meaningful conclusions in most cases. To me, charts for penny stocks do have useful data in them, but no where near enough to predict short term price points or trends. Long term, yes, but short term, it's pretty much impossiable.
All one needs to do is look at some of the posts before last week. There were tons of charters predicting this to hit at least .05, and showing all these different charts showing reasons why. Some were predicting .10 by the end of last week too. What happened? We dropped back below the 2 cent mark.
I have stated many times I don't know what this will do short term, only what I belive it will do long term. My opinion is that it is starting to stablize, and as more news comes out, and time goes on, this will continue a nice, slow steady move up. Again with spikes on PRs with more meat in them and of course major moves on big news, if any actually does come out in the next month or so.
But I really don't see how I have been, or could be "wrong" about anything. Specially considering all I have really said is I expect on major news this to easily shoot up over a dollar.
Duh, I was simply responding to what hotdog said. He said the big stocks AH trades don't show up as form t trades.....Which they do!
He also said that form t trades were only trades that were placed earlier in the day and only settled AH. Which is incorrect.
My whole point, which I stated many times before, is that the term "form t" only refers to an AH trade. Obviously with pinks there is no AH market, so they pretty much have to be trades filed earlier in the day and are just now being settled after hours for what ever reason.
I was NOT implying that KATX or any penny stock was like a F or a MSFT. I was simply responding to what Hotdog said.
I think you mixed things up, go look at MSFT, or F, every single trade AH is listed as a "form t" trade. So unless the only AH trades for these companiese are "late trades", which of course is not possiable, then I am quite correct in what I said in my other post about form t trades being required for all after hour trades.
Last sale reports of transactions in designated securities
executed between the hours of 4:00 p.m. and 6:30 p.m. Eastern Time shall
be reported within 90 seconds after execution and be designated [as “.T”
trades] with the unique trade report modifier, as specified by NASD, to
denote their execution outside normal market hours. [Transactions not
reported within 90 seconds also shall be designated as .T trades.]
Transactions not reported before 6:30 p.m. cannot be reported through the
NASD/NSX Trade Reporting Facility. Participants must use an
alternative electronic mechanism to report these trades.
(C) Last sale reports of transactions executed between midnight
and 8:00 a.m. Eastern Time shall be reported between 8:00 a.m. and 9:30
a.m. Eastern Time on trade date [as “.T” trades] with the unique trade
report modifier, as specified by NASD, to denote their execution outside
normal market hours. Such [T]transactions not reported before 9:30 a.m.
shall be reported after 4:00 p.m. and before 6:30 p.m. [as .T trades] with
the appropriate trade report modifier as specified by NASD
What Does Form T Mean?
A form required by the NASD for reporting an equity trade executed after normal market hours.
A Form T is a form that brokers are required to use to report transactions that occur after the market’s usual hours. Trades that occur outside of regular market hours are thus referred to as Form T trades.
From what I can see, the first form t trade was at 4:00:14 and the last was at 4:05:09.
The 8 million in trades are listed as "sells" as well as another form t for 39k. The last 2 form t trades were for a total of 58k and were buy orders.
If they sell handcamp to someone like goldcore, or annouce a joint venture, this will be over a dollar, simple as that. And that is only one of their properties.
And they wont give handcamp away either, they will make sure to get what it's really worth. I doubt this will happen before proper test drills are done and the results are back, but I do belive once that happens, hopefully by spring, they will have many offers from many different parties.
lets not get ahead of your self here, "form t" trades are ONLY after hour trades. It has nothing to do with trades that were placed eariler in the day and only recorded after hours. The deffinition of the term is is only "a form for after hour trades".
Sure, if a trade was placed eariler in the day and not filed then it would be done via a form t trade in AH. But Form T ONLY refers to a trade done after hours, nothing more. Please don't link form t trades to only trades that occur earlier in the day, this is not the case.
Form T refers to all trades done outside normal market hours of 9:30 to 4. Any pre-market or after hours trade is labled a "form t" trade.
If you buy or sell after hours you have to use form T to do so. It in no way shape or form refers to only trades not processed earlier in the day.
Since these are penny stocks and they don't have an after hour market, alot of these could be trades not processed durning the regular market hours. But considering the patten of form T trades, I expect, like I have said all along, it's nothing more than MMs swaping shares.
these were SELLS not buys........Again, 8 million in sells.....
these are AH form t trades, this stock does not trade AH. So any trade AH will not reflect in the PPS. Whether these are actually placed after hours or orders that were placed eariler in the day and just not filed till AH is anyones guess. Either way, it has no impact on the PPS now or when we open tomorrow. As far as this stock goes, what ever the pps is at 3:59 pm, that is all that matters for the next day.
One of the main reasons I felt there wouldn't be 3 last week was the volume was just not there after about 12 pm to support any good news. As was nicely noted by the 2 released last week. On top of that, friday isn't a great time to release a PR in the first place, as your heading into a weekend and there is usually a bit of a sell of on that day from the day traders. But friday was also a short day on the market, it would have been a waste of a PR to release it on friday. Which was my logic for thinking they would wait till this week to release it.
There are a long list of PRs ready to go, so expect a few a week for the new month if not longer. Some weeks we might get zero or only 1, other weeks we might get 3 or more.
The biggest short term news we could get, and I belive it to be in this order would be:
They rased enough captial to fund the test drilling
They started the test drilling or will start on this date
They have parted up with another company through a joint venture
Any of those will cause this stock to skyrocket. I think the first two i listed are quite likely short term in the next few months. The 3rd is less liekly but still possiable IMO.
Heres whats good about today!
Going into this week, we had a lot of questions about what happened last week and where this stock was at. The main question we had was why did we go down last week? Was it because the volume dryed up after lunch due to the holiday week, or was it because people were selling off.
Today answered that question nicely IMO. It's quite clear that the holiday and low volume after the noon hour was the main cause for the pull back.
We did have a PR today, but unlike last week where we shot up in the AM on good news, then slowly fell back down after lunch due to low volume, we actually mamanged to not only continue upward and finish up close to the HOD but the volume held strong all day long.
Not only is this a great sign of support, but it's also a good sign for the future of this stock. I would expect it to move up slow and steady over the next few weeks, with pull backs here and there, and little spikes on news. Of course anything could happen, but I like what I see short term for this stock, and of course long term is quite sexy!
Uhh that 8 million share order was a sell order not a buy.....
And the AH trades are really meaningless as they are just MM trades. They don't effect anything other than the volume for the day, the PPS in the AM never reflects what happens in AH with this stock. Those trades are not a "sign" of anything other than MMs doing their typcial trading.
weclome to 7 hours ago.....
your missing the point though, penny stocks in most cases don't trade with any normal pattern, their too daynamic! The fact that this guy "called it right" based on charts really doesn't mean much. A blind squirrel finds a nut every once in a while.
For every time his charts predict a down trend or a up trend, theres 20 times hes probabbly way off.
I look at the charts every day, but for pennies, i don't put much weight on what they show. I make a mental note of it and keep it in the back of my mind. I know that what the charts predict could happen, but there are sooooooooooo many other factors in penny stocks that I rarely act based on what a chart says. Too many factors, too dynamic.
They can be useful, but in pennies at least, not for trying to predict actual price points. If you or other people think other wise, thats perfectly fine, please do what ever works, this is just my own personal opinion.
Good god, please stop saying the "float dryed up" or "its consolidating" and thats why it went down last week. No one can draw any logical conclusions to what happened last weeek yet. Why? Because it was one of the biggest holiday weeks of the year! Most of the big boys either went home every day at noon or didn't show up in the first place. This is a MAJOR factor in what happened to the PPS.
Right now we have no idea what this week will be like. Why is that? Because we don't know exactly how much of an impact the holiday week actually had. We don't know for sure if the pps dropped mostly due to the fact the volume dryed up after lunch due to the holiday OR if people were actually selling off. We know the holiday played a big role in it, but was that role driving a pps down even more that was already heading down in the first place, or did the holiday actually set up the conditions for it going down, and thus, the main reason for the pps to drop was simply due to the holiday it self and no other real sell factors.
We wont really know what happened for sure till this week. We need to see how it will trade this week. If it picks up, and starts going up again, then you can write off what happened last week as nothing more than a holiday induced pps drop.
If it keeps going down, well then there is other things at work here.......
And for the love of god, stop posting 20 charts a day people ok? We get it, theres some people on here that "know" how to read charts and patterns like Spyder fibs and so on, thats wonderful..... Theres just one tiny little problem.... THERE USELESS.
This is a penny stock, you can chart this thing all day long, every day, which apparently many of you do here, and still have no clue what is going on. So far, not one "charter" on here predicted this stock going up 700% in a week, nore did one single "charter" predict this going back into the sub 2 cent range. In fact, pretty much every single charter on here predicted this would go up to .05 to .10 last week..... Wow you guys were soooo close!
Charts are mildly useful on stable, non-penny stocks. But it's laughable to try and use them on a penny or sub penny stock. Both the short term and long term movement of penny stocks are determaned mostly by news. Specially stocks with low floats like this one. All your charts can say that this is in position to hit new highs next week!, but if no news comes out, or bad news comes out, its going right back down. Same thing can happen if your charts all say its going to pull back, and consolidate some, then a good pr can come out and it will shoot back up.
Point being, penny stocks rarely, RARELY trade on fundamentals. The only pattern they follow is based on what company news comes out. These stocks don't start trading on fundamentals till they get closer to the dollar mark, then they start to stablize and calm down in most cases. Untill this happens, looking at charts and trying to find special trading patterns to help you predict what this stock is going to do next is POINTLESS.
over .50 cents? lol try over like a dollar easy, way over!
Yea anyone whos not a day trader or a short term trader should feel great right now. The future is quite bright. I plan to average down in the next week or two if this does drop more, if it doesn't, great, I already got a lot of shares and I am quite happy with my position.
What has me so excited is, the "future" isn't talking about years away. We already had one nice move in the last 2 weeks, next one could be coming in the next few weeks and take us anywhere from .10 to .20. And then come spring, and on more news and test results, this could very realisticly be over a dollar.
Yea, I think the drilling results will set up everything. upon return of those, this should shoot up to ove a dollar. Then that will be grounds to start shopping around for partners, mergers, buyouts or land sales.
But the drill results will be the catalyst that sets all of this up. I would be shocked if upon annoucement of the drilling, that this doesn't shoot up to the .20ish range if it's not already close to it by the time they do make that annoucement. And I would expect that to be coming in the next month or so.
Every day that it's a down day, you and others try to say "oh its just filling a gap". It's not, specially today. Today was a sell off, not a "gap fill". Again, there might have been a "few" gaps filled, but on the down days this week it's either been due to a complete sell off like today, or it simple fell down slowly after the noon hour on low volume after having strong buy support in the am.
It wasn't "trying to fill a gap". It was a holiday week, with most of the big boys at home, and the ones left genernally left every day around noon-1 pm.
It will be quite interesting to see what happens next week, it could go up, or it could go down. Alot will do i suspect on what type of PR, if any we get as well.
Just wanted to add on to what you said, "fair value" might be around .20 cents. But as soon as they test drill and get the results back from that, the sky is the limit on this thing. Assuming of course they are great. But I expect this to shoot up around a dollar when those hit, and even when they annouce the drilling process, this to shoot up nicely. After that, its all about getting more of those test drills back and talking about mining and of course with that comes partnerships, megers, selling properties, etc....
I think the big turning point for this stock will be in the spring of 2010, when the first drill results will hopefully hit. It will shoot up to the dollar mark quickly, then within a few months be a good bit over that mostlikely. I totally expect that once a few more PRs come out, and then the annoucement of test drilling hits, this should be between .10 and .20 cents, if not higher.
This is one of the few mining companies/exploeration companies that has a low float and a lower OS. The up side is huge and will be quick.