Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I'm not even thinking about predicting the prices of the events to come. The best I can do is read the chart with an eye to volume as the "tell".
Right now, I have a Fib retrace matrix overlaid on my chart. It all depends on the exact low end of the line, because the top end is pretty plain. So, depending on the exact lower end, the price retrace thus far is this: we are sitting at the .382 retrace (I am drawing the retrace in such a way that $3.20 is the 382 retrace). The .5 retrace is, as it happens, smack dab at the low of the retrace that just happened earlier today.
Now, I have no idea about whether a Fib retrace applies here, but it is cool that, as of this minute, its looking like the people slapping this stock around are behaving as though they have the Fib retrace matrix up and are using it to guide them.
just saying....
Imperial Whazoo
I always have a 1 minute chart that has volume per minute displaying as a histogram along the bottom. Pretty standard stuff. So, anyway, when this puppy screamed down, IMHO, what was happening was a deliberate attempt to force stops to trigger & thus to accelerate the decline until there are no more stops in place to be triggered.
So, after it stabilized, I get to watch the volume on what look to me like additional tests of the placement (or lack thereof) of stops. Several of them were executed. A wave of selling, followed by a return to buying. You can see the volume as it starts down, bottoms, & curves back up. The volume is precise where the down begins , ends, & the buyers step back in. Just look at the most recent one. Volume jumps at the beginning of the down move, tapers off, and then it returns as buyers return & up it goes again. Volume tells you where the behavior is in the move.... beginning middle or end. Pretty precise. Pretty cool, IMHO.
Basically, with each test of the downside, if there are stops, they trigger, so, as time goes by and all the underbrush gets cleared out from below, the people executing this down side move can measure the trading environment. If you drive everyone to decide to sell by pushing on them with down thrusts, and if you spook people by repeated waves of similar testing, you clear the playing field of anyone who would stand between you and accumulation.
Thats how I see it anyway. I'm watching and I'm willing to wait until somebody declares their intention to begin to buy in. The signal of this beginning is going to be volume.
I'm pretty sure I'm not the only one watching this one closely to see if it is going to goes further down or climb back up.
Volume behavior is going to be the tell.
Just my opinion. Watching and waiting with powder dry to ride it back up, because that's what I think is going to happen sometime in the next month.
Oh, and yeah, you read that correctly.... I said MONTH. No point in getting in a hurry, LOL.
Imperial Whazoo
USD/BTC just ticked up to 4700.00; a noteworthy pre-market event.
CHARGE!!!!
:o)
ImperialWhazoo
The force pushing this is worldwide & it is very broad. I'll post examples like I did yesterday and like the following, as I get time.
Check this out if any of you think that corporate is NOT on board with cryptos:
https://www.cnbc.com/2017/08/28/burger-king-russia-cryptocurrency-whoppercoin.html
This is simply an idea that is in the rhythm of this moment of time.
Imperial Whazoo
EDITED: Oh, and check this out as well:
https://rexetf.com/
Well folks, consider this news report as regards the viability of Bitcoin and/or Bitcoin mining:
https://news.bitcoin.com/japanese-exchange-debuts-bitcoin-corporate-bond/
Just pointing it out due to the negative notion that bitcoin is not something having staying power. I think that it has legs & the positioning of MGTI in this space is opportunity staring the world square in the eye.
Imperial whazoo
Thats correct & I'm glad somebody took the time to debunk the nonsense.
As a pragmatic reality, it defies logic that a guy would loan them 2 mill and turn around and cash out before the ink is dry on the legal documents.
JMHO
Imperial Whazoo
And while you are at it, (whoever you end up being who tweets him), ask whether he plans to mine a mix of cryptos or only one. then, if he says only one, ask him which one & if he answers that it will be (or is) a mix, ask him which ones. And then ask him, if he says MGTI is or will be mining, ask him if the situe is still to be US (central Washington state, hydro source electric) or whether the appearance of the two partners he shows on the McAfee ICO website are going to be involved in a mining operation connected to MGTI & if so, whether this means that the actual location of the mining operation is going to be in another country, where the electricity costs less. Also, are these two fellows going to be formally associated with MGTI in any capacity at all orr is the McAfee coin a completely unaffiliated matter.
Also, ask him if MGTI is still looking to hire programmers or whether they have already hired code jockeys. And ask him if MGTI is still going to be using a custom code version of the base open source code to expedite the process of which mining consists, as he once stated was a baseline advantage he was overseeing at MGTI.
More questions if I think of them.
IW
No its not. Its at 1.32 on volume of 468,000 volume today, as I type.
High of day so far: 1.35
Opened at 1.23.
I beg your pardon, but thats a day gain, not a fake news story alleging a loss thus far today.
I get tired of all the games. Just trade baby. Trade.
IW
The ability of governmental entities to "manage" gold & silver & currencies to dampen down fears is built into the chart patterns of the instruments that trade in these areas. Cryptos are different, IMHO.
All you need to do is watch GDX or NUGT or JDST and you can see behind the scenes hands step in and either buy or sell to send outcomes in the direction that the major worldwide influence peddlers want the "public" to be influenced to believe. The volume in the charts tells the story.
Fact, however, relating to cryptos: because of the absence of middlemen in the picture in peer-to-peer ledger sheets that are decentralized, there is no way for governmental and/or quasi-governmental entities to do to the bitcoin/cryptocurrency world what they can (and do) do to the gold & silver & currency/Forex markets. It is due to the fact that the cryto-ledgers are, by design, decentralized, & as such cryptos are not manageable in the same ways as these behind the scenes players have become adept at in other arenas.
So, as regards MGTI, and a handful of other crypto stinky pinkies.... I believe, (and I could be wrong; I admit that).... anyway, I think that the specifics of the particular stinky-pinky company.... (in our case, MGTI) is less important than the fact that it is a player in this arena at the prime moment of time when the sweet spot in the crypto world is maturing.
MGTI is one of a small handful of stinky pinkies that are regularly generating high enough volume to trade and which have had multiple days recently with a decent percentage daily gain. I trade them. I think that they are not good stocks to own. I look at the entire set as stocks that I can trade on swing trades and on day trades. Simple as that. I'm agnostic about the people running MGTI. I could care less.
Rich people and companies and governments worldwide are hip deep in US dollars that are falling like a rock as the dollar declines in value daily. The exit doors are pad locked by the international control entities. Currency controls. SANCTIONS on this country or that. Blockages constructed to constrict & restrict movement across borders. In this arena, crypto, which are not controlable due to their peer-to-peer nature & their distributed, decentralized ledger sheets, will prosper. Rich entities worldwide will use them in their natural act of self preservation. Simple as that.
Obviously, to the extent that worldwide entities move their dollars into cryptos, the handful of stinky pinkies that purport to be players in the crypto world will benefit.
MGTI is such a stinky pinky.
Thats my read people.
Imperial Whazoo
Ya got a good point.
Well, I think that is not the case. I think they are going to mine using them. Don't know for sure but then, neither does anyone else around here
IW
Thnx 4 that. I scanned it & caught the first item but not the second. Thnx. Saves me the time L8r.
IW
I read the 10Q while trying to trade and I thought I noticed that they actually sold the bulk of their circuit boards but until I get time after the market to re-read it more closely, I am not sure I read it correctly. I do not recall a line item in that filing that shows the expenditure I frankly expected to find that related to the news that they had bought a bunch of boards to put into their server farm mining operation I remember was in central Washington close to a hydro electric source (lowest cost in US... hydro is the lowest cost, if I'm not mistaken, here in the US).
So I'll hope someone digs the details out & posts them so that I can do something else after market today. In the mean time, I'm into a stock for about $14.36 and I'm 2 cents down right now, and I need to trade it rather than do the DD right now.
IW
I've been viewing all kinds of articles and youtube videos for the last two weeks & I recall (but did not think to bookmark, unfortunately) an article that noted that the vast majority of mining in bitcoin is now concentrated in something like 12 miners worldwide. The key factors are cost of electricity, believe it or not.
So, I was extremely interested when the two McAfee related ICOs were announced with those two guys (www.mcafeecoin.com) who are rich guys from the Asia area (I've not been able to chase down what their country is but I think its proly China. (Yale Reisoleil & John Zhu).
Anyway, when the Bitcoin market stalled due to the vote on Aug 1 to branch it, it made sense to me that bitcoin mining was going to see a pause until that issue got cleared up. My guess is that MGTI sold its board inventory because they were, logically, uncertain about whether it would make sense to mine in competition with a handful of worldwide powerhouse mining operations who have really low electricity costs. So, if I were making those decisions, i'd either be looking for other coins to mine that were not presently dominated by huge players, or I'd be looking at making book in the blockchain arena by applying blockchain to some other area than mining.
And folks need to pay attention to the fact that Goldman Sachs has obtained some kind of US patent to a proprietary blockchain technology in the last two weeks. Also, the UN is doing an ICO, and there are several Gold backed ICOs that will be sharia compliant.
Net net, in such frothy information environment, it makes sense to sell the extra boards (like MGTI reports they did) and stand aside to consider better directions in the blockchain area.
That's my take for the moment.
And also, it is seldom, if ever, that I've experienced a stinky pinky like MGTI that actually files its required forms in a timely fashion.
I'm watching closely and think the release of a timely filing is a big plus.
JMHO
Imperial Whazoo
I agree because I track a total of 17 cryptocurrency related tradeable stocks.
I can see more of the big picture as regards the overall impact of crypto this way. MGTI is a "good behavior" chart/profit example among a lot of really stinky spinkies in the crypto world. Some of the stinkies are a guaranteed failure looking for suckers who are dumb enough to speculate in them. MGTI is not a sound buy from an average stock buying point of view, but if you are in the crypto arena due to a conviction that there is money to be made somewhere in the crypto arena, the better choices include MGTI.
It is absolutely absurd, IMHO, for there to be zero stinky pinkies in the crypto world that will generate a profit if traded, so my search was based on finding the best of these kinds of stinkies, and MGTI fits that criteria better than almost all of the others that are players in this arena. There are many terrible crypto related bad boys that are a vortex of failure looking for suckers who are foolish enough to step into them.
MGTI & its famous insider may be a risk, but I think there is money to be made and the comparison is NOT to compare the stocks in this mini-stock-group with other groups of pinky stocks. If there is money to be made in the crypto world, the task is to find the best in that small tradable grouping and time the trades in and out as the rest of the world awakens to the reality of the future of cryptos.
JMHO
Imperial Whazoo
Don't ask me! I'm not the one who dug up something that suggests the product is at a new testing point.
Does anybody know if this guy in the Bay area is doing this as an employee (in some sort of official capacity as a store manager for Macy's) or as a guy who somehow knows McAfee and/or someone in MGTI who happens to be a crytocurrency advocate (as his linkedin bio indicates) and is somehow on the inside track to get a chance to put the unit to use? Who knows if he is going to try to use it in his own systems or whether he is to use it in some kind of structured, corporate environment in his Macy's IT departments? It seems threadbare, in way of info that is. Not that its not a genuine thing that is underway or that is about to commence. Just saying.....
Imperial Whazoo.
I looked at the Macy's site looking for news but failed to dig info up. Where did you get the Macy's person connection? BTW.... I would also favor your expanding on the multiple test locations.... where did you get this from, too?
TIA
IW
Any link that is sourced outside of a McAfee Twitter account?
IW
Edit:
Here's the link folks.... not even remotely difficult to cut-n-paste it, BTW.
https://twitter.com/officialmcafee
Anyone find this elsewhere?
ImperialWhazoo
I get a bill every month from them simply because I have a wife who goes there. What you need to wrap your mind around is that it is an odd thing for a non-tech company (Macy) would be the first company to retail this kind of product. Common sense to think it is odd, IMHO.
Oh, and I'd spend more time with you but I have a bill from Macy's that is due at the moment and I need to attend to that.
:o)
IW
OK & thanks. My word..... wouldn't that be marvelous.... so, what link or links dou you point to that support this info?
TIA ImperialWhazoo
Please forgive my ignorance, but what is "Macy"?
ImperialWhazoo
From Reuters a short while ago:
https://www.reuters.com/article/us-bitcoin-split-idUSKBN1A62T4
Thought it might interest a few on this board.
:o)
Imperial Whazoo
Of interest in the entire crypto world, I think:
https://www.reuters.com/article/us-bitcoin-split-idUSKBN1A62T4
Watching the splay of trading companies in this micro-niche, of which MTGI is, of course, one.
Cheers
Imperial Whazoo
A tremendous example of helpfulness. Much appreciated.
IW
This part of your comment was very interesting:
"Why would they so easiy allow one to trade out of USD to Crypto via Credit Card and only have to report transactions over$20k??? "
I agree.
By any chance, would you have a link or links regarding this? I had not realized this until your post & I think you are spot on & I need to trace this thread of thought back to examples, if you have the links.
TIA
ImperialWhazoo
Thanx. Sorta thought that was the idea underlying the general thinking that was being blogged about. I needed the accronym defined with certainty.
It also seems to me that the non-reporting status of the company makes it probable that there will be no announcements about things like the fact that the non-appointment of a trustee meaning that they are out of bk. IMHO, the company will operate in the dark for as long as it can, taking advantage of the situation to do all kinds of planning without any PRs or filings until they have absolutely no way of avoiding the spotlight.
So... the only way to detect that there are foundational business shifts happening is by seeing things like the start of Blockbuster online in Denmark, Norway, Sweden, etcetera. By which I mean that we can see certain things happen, such as Denmark/Finland/Sweden.... and we can extrapolate that the Blockbuster brand is beginning to be revived, but we are not going to have these events explained by a PR or a filing and we are only able to guess at what these kinds of events imply about what is happening behind the veil. Correct? Thats my take.
In effect, the eventual appearance of a new business plan, if one happens at all, will catch the markets by surprise. Thats my guess, anyway. And we have no way of predicting the timing, if it is going to happen at all.
Assuming there is a business plan in place that will allow the NOLs to be applied is logical, because there is such a substantial tax advantage to having them. A pretty obvious way to "finance" the re-emergence of the Blockbuster brand, perhaps. That said, the actuality of an actual business emerging via a deliberate business b=plan that is being executed right now.... this will remain something to be guessed at.... correct?
The ability to look down the road towards the future events that are probable or possible (or impossible, for that matter) is largely determined by the particulars of whatever laws apply.... correct?
So, that in mind, does anyone know what legal rules apply to the timing of there being a legal requirement (or not) to announce the emergence from BK? What are the advantages of re-emerging the brand in Europe (and elsewhere) before and/or after formally announcing that they are out of BK? Or can the company continue in the un-public shadows in perpetuity?
Imperial Whazoo
Forgive my ignorance, but what are "NOL"'s?
TIA
Imperial Whazoo
Hi. Seldom post anywhere these days but felt it necessary in this case because of an unclear detail from your otherwise fabulous post.
After reading and going thru all the links, I have but one uncertainty:
Question -- what is the relationship between the company Accuria & VDRM?
Other than that, its all pretty clear.
TIA & again, an excellent post.
ImperialWhazoo
The orchestrated news cycle is telling us right now that people are shopping like crazy.... ignore the France events, ignore the shoot down in Turkey.... Here, think on things like this, people: "How to make your mashed potatoes come out moister".
Talk about telling us all to get back to fiddling while Rome burns, LOL!
We'll see, though.
Imperial Whazoo
Just started reading this blog page. To catch up with the lingo common around here, and of course to dare to look stupid (LOL), what is...
"CBs"?
TIA
Imperial Whazoo
Ha ha.... I'm kinda talking to myself here, but here goes with one more thought.
Look at the RSP, whish is a representation of the SPY that treats all the 500 stocks as EQUALLY WEIGHTED.... put it up on a 10 minute chart and look back at Monday (11/23). there is a very obvious volume spike at 12:20 PM.... RSP went down for almost a day and then it turned back up, but there was no volume spike at the bottom where it turned back up.
I read that as money coming out at the top (11/23). Notice the next volume event at EOD the next day. Looks like money came out on the EOD trade Tuesday. Nobody stepped back in to hold it over the holiday.
OK, so look at the SPY on 11/23 & 11/24 at the same approx times. Nada. Nothing. If you were watching the SPY, you never say the volume event on the 23rd in the RSP. Looks like some rather smart player wanted out of his position but did not want to signal the bigger market, who watch the SPY. So, I figure they play the SPY via the RSP and that way, they are less obvious.... or something like that.
So, the RSP, which is the equi-balanced S&P500, fires off a volume even in a single minute and just look at how the SPY came down in sympathy. The event is in the RSP and there is an unexplained chart fall in the SPY. Very cool.
So, look at the TVIX in the same time frame. And the XIV too. Nada as well. These related charts all obediently behave as they naturally would if there had been a volume event over on one of them, but the actual event that drove the moves in all of thede happened over on the RSP. Very interesting.
I also look at the VTI. Its not the S&P500. Its the WHOLE market, but sometimes, there is a volume event over on the VTI that causes other ETF's to dance the appropriate steps in unison. Very, very interesting.
Imperial Whazoo
No prob. In fact, since I noticed the way the volume spikes one direction or the other have an interplay in similar ETF's, I've been meditating on whether to find a way to generate group interest or to keep it close to my vest. I decided to just open it up and ask the interested community. I figured that the more eyes fiddling with it, the better the outcome. Just put it into the grist-mill and see what the body-think spits out. Hope people give it a look and come up with ideas on what the best way to trade it is.
Its a short term day strategy. In fact, it may go 3 or 4 trades a day in both the TVIX and the XIV. I have set up a set of tabs on my trading platform where I can backtest it and look for instances where there are volume spikes in the TVIX. Then I can go back to the RSP and the VTI and so forth and see the corresponding volume events in approximately the same time frame. Often, its as clear as day looking back, and what I'm working on now is to take the observable pattern in the backtest charts and figure out what signals I need on my charts to tell me what the volume spikes are saying in real time.
There ARE clear backward observable patterns. All I'm missing is a reliable set of signals to assist me in interpreting the meaning of the volume events in real time.
Imperial Whazoo
Thnx.
Check this out for a week or two.
Watch the TVIX, the XIV, the SPY, the VTI, & the RSP together. Put them up on something like a 1 minute, and then a 5 minute or a 10 minute. Depends on how many screens you use. I have at least 3 monitors up at all times and when I get all 7 up some days, I get a good look at the pattern of corresponding volume spikes on these symbols.
Watch for volume spikes in the 1 minute and then toggle to the 10 minute and maybe a 30 minute.
Basically, it looks to me like you can call a short term swing based both and down on where the volume spikes appears. Often, it shows a short term bottom or short term top. So, you can do a buy in the opposite: either the TVIX or the XIV. Just flip in and out based on where the volume spike appeared.
I've begun to try to time it this way and I've had some success. Haven't got it fully smoothed out but there is a frequent parallelism & its kinda cool.
Imperial Whazoo
Somebody stepped in at 9:40 AM & bought 1.2 million @ 6.10 to 6.14
At 9:37 AM, coincidentally, over on RSP, the biggest trade of the day (and bear in mind that its 1 hour before close right now.
there was no corresponding volume in the SPY but at 9:46 AM, the SPY did a hammer, but it was on mow volume.
I point all this out because often, the VTI & RSP show volume at more or less the same time as a volume event in the TVIX or the XIV. And I always check the SPY too to see if the volume in the TVIX is reflected or preceeded anywhere else. this time, it was in the RSP.
I'm not sure how it all hangs together but I've been watching these several symbols as a group because there is some kind of correspondence in the set of symbols having something to do with the S&P 500.
Imperial Whazoo
I trade the TVIX & finally decided to see if there was a forum. Duh.... shoulda done it loooong back, LOL.
Anyway, I always have the SPY & the TVIX up on one of my screens. So, let me ask you this: I'm looking at the SPY right now. What numbers are you referencing when you say there is no upside gap being left to fill? Are you referring to the small gap between the open today (209.50) and yesterday's close (209.35)?
Thnx in advance.
Imperial Whazoo
WOW.... Heddle is is less qualified than Bordy? Really?
Hypothetically speaking, that is.
:o)
Hypothetically, have a nice day.
Imperial Whazoo
Yeah, we need the workers to get hired and work to begin to be seen being done up there. Maybe some of the old hands up in Niagara Falls can resort to what used to be posted around here.... eyes-on reports of trucks coming and going and that sort of thing.... pictures of activities.... etcetera.
One thing is certain.... with oil falling to the 40's, the economics of selling this technology are changed.
In a way, if the economics of the sales approach had been cast in iron according to a cost structure that was in place worldwide back in the day when we had 100+ dollar oil, we may have been facing an entirely different set of worries.
I mean, suppose we had a sales force that had been working long-to-develop deals to companies where the economics of the buy were built on 100 dollar oil (to be replace by this technology, obviously). The crash in oil prices would play havoc with every long-to-develop deal we would have had on the table, in my opinion.
Faced with the massive shift in the economics, I bet we would have all been screaming about the problems in closing deals that had long been developing.
So, in a peculiar way, it may well work out for the economics of the sales proposition to get its definition from the fact of 40 dollar oil rather than for it to have been the case that a sales force had been working complicated deals based on 100 oil.
If we can sell this technology in a 40 dollar oil environment, it follows that future increases in oil prices will make it pretty easy to grow when oil prices recover sometime in the future.
Because he took over a vessel that was listing an a dangerous angle. You have to right the vessel and toss the crew who ran it onto the reef overboard before you can sail off into the sunset.
He will now have his chance to see if he can make sail and get somewhere.
PTOI has a chance to finally succeed. The guys now at the helm may screw up in a whole new set of ways, but the old crew is tossed and/or resigned.
I'm beginning to buy back in. The first thing that got my attention was the money out of his own pocket. Thats entirely different from a bunch of crappy PIPES and suchlike. Also, the lawsuit situation is going against Bordy, so thats nice.
If may yet sink in the drink. But at least its got an experienced businessman who is investing his own money rather than trying to interest outsiders, who are all-too-often predators and the kinds of vultures who supply money at the overall expense of the company's future.
Imperial Whazoo
Yeah, he lost his shirt so much that he now controls the technology.
WOW.... when it comes to losing my shirt in my future endeavors, I think I can learn a thing or two about how to win by losing if Heddle pulls this off and he comes out smelling like a rose without becoming some kind of crook himself.
We'll see, LOL
Imperial Whazoo
The tell on deals not yet in existence are there to be seen by everyone right now?
Really?
All I see is a track record of a guy who failed to deliver and who has left the playing field, (other than to engage in lawsuits, LOL)
But if you actually have prophetic power sufficient to see the "tell" in deals that have not even come into existence yet, can you tell me where the DOW will end up in 2016?
Just askin', seeing as how your post seems to indicate that you can see the "tell" in deals not yet in existence.
As for me, I'll reserve judgement of how idiotic Heddle's deals are until the actually get cut, thank you very much. And that goes for calling him a crook as well. I think he has built a real company and I'll decide if he's cut from the same cloth as Bordy once he has a track record on which to decide.
Imperial Whazoo