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That's the main reason I'm here...
for me, favorable share structure in a penny stock trumps all else.
the no dilution proclamation is HUGE, if he sticks by it. the only way i know to determine if he's lying or telling the truth is to keep an eye on things like acc/dist, money flow, OBV, etc.
and of course, the shorts/MM's can throw a monkey wrench in anytime they choose.
so far, so good. but i take it day by day and then re-evaluate.
No question it has firmed up...
i know we both see the same thing chart wise.
i just hope the support remains, because if it dosen't it will roll over.
i think the only place we differ is in our belief in that support. you are a bit more confident, i'm a bit more skeptical.
i would love to have my skepticism be unfounded. we'll see.
waiting on news = fool's gold imo...
i have found the longer it drags on, the less likely you will ever get that news. especially with these little guys.
i would rather use the charts for entry and exit points on the (sub)penny stocks.
Nice job...
so YOU were the painter at .0007 - wish we didn't have to wait until the last minute to see if we'll hold the sevens.
I am tempted to buy more, but i really do have a strict rule when it comes to % of portfolio in a single security.
IF we run, box...
Agreed this is a great setup and a real nice launching pad for higher prices, but I will believe it when I see it.
I've seen many near perfect technical setups like this in this past; if the buying volume dosen't return soon, this will head south like most of the others ultimately do. I hope not though - this could be a big winner with the return of significant AND sustained buying pressure.
OK, box and sully...
you offer good reasons for selective bid buying. you swayed my opinion, although i will continue to buy at the ask.
Sully...
why not support the price and buy at the ask?
not saying you haven't been, but you're talking about a .0001 difference.
bid whacking puts downward pressure on the stock.
the setup still looks good, but barely. if we don't see some pps appreciation soon, imo this will roll over and head south.
Nobody buys at the ask anymore?...
Geez.
And where the heck is the volume? Lots of cheerleading, but not a lot of buying.
Again, fair enough...
Your trading is your business - and yours only.
I totally respect that. I'm the same way.
Fair enough, dogzz...
Are you adding now? Curious if ETMM's .0007s can be taken out.
Nope. I'm done here...
I have a very strict discipline when it comes to positions as a percentage of overall portfolio value.
But YOU said you would buy anything I sold. Why not pretend I'm selling and put your $$$ where your keyboard is?
As Sully said, ETMM could possibly be taken out with a few million share trade.
Hope so...
But I will say a close below .0007 will have me quite concerned going into next week.
On the other hand, a push towards .001 would be VERY nice. We can take out the .0007's and make a new high for the day with just a little push here, IMO.
Unbelievable, Sully...
How obvious can it be that ETMM is messing with this? Amazing.
Unfortunately, if they are able to do it, they will. Whether it's blatant or not.
Need significant and sustained buying pressure to counterract this BS.
Not yet dogzz...
I stated in my post when (and IF) i would sell.
I still like what i'm seeing here, but for me today is an important day.
Never underestimate and always respect the power of momentum in the penny stocks. Otherwise, you'll be sitting on a losing postion and/or dead money waiting for a possible comeback. Which, as the days pass, become less and less likely.
Hoping that scenario does not come to fruition here. But we shall see.
Waiting...and HOLDING, traderdogzz. For now.
I agree Sully...
But only if the MM's are not allowed to trash this unchecked the rest of today.
That negative impetus would carry over to next week, and has the potential to wreck this setup in the short term completely.
IMO there needs to be at least a little buying pressure towards the close to keep this trend moving in the right direction. The MM's would love to bust this down below the 200 day again - and keep it there.
Disappointing day, so far...
No buying pressure.
I agree, if there is some money on the sidelines here, now is the time to put it to work. Still ninety minutes until the close, so we'll see.
I can't say I'm surprised, however. Seen many great setups that never cross the finish line. If the MM's/shorts sense the momentum waning, they will be all over this to the downside.
The MACD signal line is about to go negative - sorry, that's my sell signal, at least temporarily. Something has to happen very soon to the upside for me to stay in.
The wildcard here is that the company has PR'ed no dilution. Maybe this will make the shorters think twice, but who knows?
I agree Pastor...
I don't see this making much more than a quick test of .0005 - but just because it shouldn't happen dosen't mean it won't.
Many a time have a seen a message board like this all geared up for a pop, only to be left frustrated and wondering what happened. Worse yet, you have the loyalists who hang on way too long, essentially on blind faith that "good news is imminent".
I think I feel the worst for that group. Hopefully this time, everyone (except the shorts) will be happy.
I am the eternal skeptic, however...
I must admit this is starting to look VERY interesting.
I still contend that 9 out of 10 of these great looking technical setups never materialize (thanks to shorts/MM's), and ultimately disappoint the investors. So I won't hold my breath until I see how we trade tomorrow. Needless to say, an increasing volume up day would set up quite nicely for next week.
That being said, I won't be the least bit suprised if this suddenly and inexplicably heads south. The MM's are notorious for this as a rule, as many of us here well know.
Let's hope this is an exception to that rule.
Nobody's buying...
And a weak close today does not bode well for the short term.
Yep. Bring your friends also. EOM.
And if you are going to buy...
DO SO AT THE ASK!!!!!!!!!!!!!!!!!!!!!!!
Exactly...
They are scum. Their main objective is to line their pockets with our money. And they do that by squelching momentum, which discourages current holders and presents a red flag to potential buyers.
The MM's win almost every time. But when they lose, a squeeze is possible. There is a chance here, but as always the deck is stacked heavily in the scum's favor.
This is why I use momentum indicators with the pennies. Momo gone, so am I. Cut losses quick and move on.
Today is a pivotal day in maintaining short term momemtum. We'll see where we are at the close.
nobody buying at the ask?...
.0009 and no bites? C'mon cheerleaders, put your wallets to work instead of your fingers on the keyboard.
If you're planning on buying, do it at the ASK.
Absolutely has potential...
Getting above and holding the 200 day is a major plus in my book - the short MM's really try hard to keep the PPS below it. If it can hold that moving average and move higher (which it appears to be doing), this could have a nice run.
But as always, I'm a skeptic until it actually happens.
My experience...
Is that 9 out of 10 of these promising technical/fundamental "ten bagger" setups never materialize.
I try to keep my losses to no more than 50% or so - when you do get the big hit, it more than makes up for the losers.
The thing is, you have to play all the ones with potential because you never know which one will be the winner. Just be prepared to be wrong MUCH more than you are right.
And don't get sucked in by the cheerleaders or those who hold on way longer than they should.
I Agree...
The MM's hold all the cards on an already uneven playing field. If they want to let it run, they will. If not, down it goes.
Unfair, but IMO this is the reality of trading the pennies.
What makes it worthwhile is the risk/reward; while you can lose 50%+ of your investment in a flash, if you get one that runs, you can make 10-20 times that, or more.
Oh really?...
I don't. The only volume I see is the measly half million shares I added to my position this morning.
Your "peeps" need to put their pom-poms down, hike up their skirts and start buying.
Then I'm with ya.
I think we got them now...EOM.
I'm looking for two things ONLY...
First, hold the 200 day SMA. Next, close above .0007 on good volume
We do both those things, I think this is in good shape for a nice run.
FYI, I am in at .0006 - I placed a limit order at .0007 (where the ask was at the time I bought it), but the MM"s filled me at .0006
I think, as some said here, that the MM's tried to make buys look like sells.
Close below the 200 day and I'm out. No reason whatsoever that it shouldn't hold that on a closing basis. If it can't, the MM's still have too much ability to force the stock down IMO.
I don't think so...
will wait until the end of day just in case, but this looks done. at least in the short term.
i would amazed if buying came in on the heels of the AS being raised to 5 billion.
But that's the thing, vagabond...
You may very well be correct, but for every correct there seem to be 100 incorrects.
I don't know how many times I've seen people hang on, buy more, etc., on the assumption that an event will occur, no doubt about it.
And then that event never happens. Not saying that's the case here, but I will believe it when I see it AND when I see the terms of it.
I agree...
Should be higher, but ISN'T. It is what it is, that's why I let the charts be my guide.
Technicals on the (sub)penny stocks have preserved much capital and profits for me in the past, and it sucks to watch people who rely only on fundamentals left scratching their heads and wondering what happened.
Happens all the time.
The battle for short term direction...
is happening now IMO.
Volume is back, I think we see who wins at the close today. If we close below .0007, I will give it one more chance to show it's meddle in the AM. But that's it for me if it duds out again.
On the other hand, if we close green on good volume (100 Million?), I think we're in good shape. Barring of course any bad news in the filings or PR's.
ABSOLUTELY correct...
People are so obsessed with buying at the bid that they do not get this.
Unfortunately, I think the people who want the .0006's are mainly the ones who will flip it at .0008
I understand that...
All I'm saying is that if you're buying, buy at the ask. A .0001 price difference is not going to break ANYONE's bank. Buy VERT's shares at the ask - or NITE's, etc.
If enough people hit the ask, some headway can be made.
To all the cheap folks out there:
And we know you're out there - try putting your buy orders at .0007 instead of .0006, is there really that much of a $ difference to you?
Seems more of an ego thing than anything else.
squid, got your PM...
and I agree.
but at least the volume was low.
OK. Go ahead. EOM.
I'm not so much sick of waiting...
Just disappointed that the masses don't see that NOW as the time to buy. I think it will run with some moderate buying pressure.
As I said, who really knows when "the big news" will hit?
I think you're right...
If people buy it will run. But they aren't doing it, at least not enough.
I have 9 million shares - that's all I can do now.