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maybe I was reflecting too much on my trades today, but I didn't intend to boast. I was just sick of reading some users on here calling people idiots for selling - I just wanted to provide a counterargument by using my own trading today to illustrate that sometimes you can flip around a position during consolidation. That's not mindless "idiotic" selling, it's strategy. To each his/her own :)
No risk, no reward my friend! :)
Oh, I never reveal that I'm flipping until after I've done it and gotten back into the stock. Too many people can take advantage of that information and it hurts my bottom line! I'm simply trading what I feel I can profit from - it's everchanging. If the company says that the have $1B in gold tomorrow, I'm not flipping anymore LOL. Otherwise, I am only responsible for my stock decisions and I'm not trying to influence anyone else's decision. Do your DD and trade at your own risk - I've been burned trying to flip before but the chart was obvious this morning so I took advantage. I think that the flipping window is about closed, though.
haha, my strategy is based off of multiple factors. I would suggest acquainting yourself with stronger IHUB players (read: those that do active DD and don't just mindlessly pump and dump ridiculously bad stocks on BB Stock Haven, etc). I would also suggest getting a solid Level 2 with charting capabilities and read up on candlestick patterns, etc. That includes understanding RSI, MACD, Full Stochastics, SMA/EMA supports/resistances, etc. Finally, I wouldn't invest heavily until you have a better understanding of the market. I learned this the hard way - I lost a lot before I figured out the above tactics. Pick a stock you think may go up or down and chart what happens with it (daily charts and 60min charts tell the big picture, 5min/15min give you an idea of what's happening intraday). If you're right, confirm why you're right. Do DD on the stock and make sure it's not a scam (read: most penny stocks are scams but some CEOs do it the right way). If you're wrong, figure out where you went wrong.
And my favorite is this: PROFIT IS PROFIT. If you feel you need to protect profit, I don't blame you - I do the same. Don't let your emotions of a stock affect how you trade it - always trade with a plan and once your plan succeeds, you re-evaluate. Set targets and stop-losses so that you don't become a bagholder of a stock. This is what I've learned in my experience trading penny stocks
Disagree. I sold off my large position this morning and there was no sell-off. Panic selling occurs due to retail capitulation OR technical indicators creating a perfect storm. If a market is overextended (outside bollinger bands) or certain candlesticks form patterns, there will be a technical selloff. If the company provides information that the market perceives as negative (or wants the retail sellers to believe is negative), there will be panic selling. I strategized this morning that neither would be the case here, so I exited, took profit elsewhere, and rolled it back into this stock.
Like I said, once I hit the full share position that I want, I will be riding out the wave north. I don't sell my full position very often - I usually trade around a core position. Today was an anomaly to my original plan but I saw an opportunity to grab massive gains elsewhere and I will compound such gains here when this heads north (and it will in the coming days).
GLTU
It depends. If I intend to flip around my core position, I sell at the ask. If I want to move my whole position at once, I hit the bid and then re-buy through support of the bid AND ask. As long as you can determine the ups, downs, and lulls within this stock, you can maximize profits (and maximize share totals, which is my ultimate goal here - I think this is a great long-term play).
You mean me? I sold this morning, piled the amount into another stock, sold for 40% profit, and rolled that entire amount back into this stock for a 33% overall increase in my shares here.
Some people actually trade with a purpose - if I know this stock is going to be consolidating again today, why not sell and rebuy with profits rolled in? Once I hit my target amount, I don't plan to flip again. Until I hit my target share amount, I'm trading a plan that I think works. Others are doing the same.
We will see the next leg of this run within the next 2-2.5 hours. The next run should push us to .0175, but anything above .0155 would be in my price window as well.
This will consolidate for a bit today and then we should see an EOD push above .015. This is trading beautifully and I'm back in to ride the wave north! :)
I'm in IGC for the .45 break - good target Augusta!
Take out the .0067s and this might run to .0075 - tough to gauge on the 15min MACD but we will run a bit today. It's just a matter of time (and technicals)
Very close to a breakout on the 15min chart - buy up the .0068s and .0069s and I think we will test .0075.
You can thank me for obliterating the 23s before close. My price point is a bit high but I can see a retrace to .01 on solid news. I'll be doing some more digging tonight. GLTA
Someone post the APS alert if it comes out AH?
Lol, I think the majority of the big fish in this play aren't looking for 100% gains tomorrow, they are looking for the 3 month play that will yield multiple baggers once the reserves are proven and reliable. I'm personally flipping around a core position and locking up 500k-1mil free shares before June so that when this finally takes off, I'll be rolling in the profits.
If this keeps upward momentum for the next couple hours, we will see a MACD centerline break on the 30min chart.
Thanks, I appreciate it!
Yes, brief consolidation indeed. The chart is still screaming of oversold and positive uptrend, so I might think about taking a position early Monday morning. Good luck!
The signal line is one of the two-part equation to the Moving Average Convergence Divergence indicator. The tool itself reflects trends within the stock and is a good indicator of what the stock might do in the short-term and long-term. I use this tool a lot of the time to determine potential entry/exit points of stocks intraday (with moderate success).
I pulled this off of stockcharts.com:
"The MACD Line is the 12-day Exponential Moving Average (EMA) less the 26-day EMA. Closing prices are used for these moving averages. A 9-day EMA of the MACD Line is plotted with the indicator to act as a signal line and identify turns."
So basically, when the MACD line is above signal, the overall idea is that there's a good chance of positive uptrend. If signal is above the MACD line, it can signal a consolidation/downtrend period. I like to confirm MACD with Full Stochastic or other indicators, but it's a great predictor. The other part of the equation is where the MACD line and signal line are to the 0 line - the equilibrium. Having the MACD line cross over signal AND having it cross the center line can be confirmation of an uptrend. I would research MACD at this link:
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve
and if that doesn't work, google MACD stockcharts or something. It's a great tool to have in your arsenal.
The close doesn't really matter as long as we stay above .01. The technicals will progress on Monday and we will enter the new breakout phase. The bottom is in (~.008) so we should be good to go for an easy 1-2 bagger at these levels.
An .0065 break/close would be ENORMOUS for this chart, but either way, we will continue to rise on Monday/Tuesday. We should be able to recover a lot of what was lost in the 2-3 weeks previous to this impressive day.
The chart is setting up magnificently for a breakout on Monday. MACD is the major indicator here - it's about to cross either the 0 line or the signal line on the 5min, 15min, 30min, and 60min. The daily Full STO reflects the obvious oversold notion and combined with this technical firestorm, we could see .015-.02 in the near term. JMO - I'm going off the technicals and not the fundamentals. If the company were to put out a PR that confirms uplisting, etc, BOOM.
That's not the intent that I read. I think Marc Lovito thinks that with an uplisting and with more Phase I-II information coming out in the next 1-2 months, the PPS will rise on its own merit. If GDSM wanted a quick capital infusion, all they had to do was release some ridiculous PRs ala NS*S and pay a ton of promoters to run this up. Instead, this ran on fundamentals until non-paid promoters alerted their bloodsucking herds to run this parabolic (and subsequently crashing it when they got their profit).
If Lovito continues to progress with this mine and the valuations that he thinks are true end up BEING true, the PPS will work itself out. He's simply giving the investors that originally provided the cash infusion for Phase I-II to have first dibs on warrants - capital that will be needed to fund Phase III-IV + production phase.
Read the supplement information - it's clearly stated that the company has set aside 10M warrants (shares) for investors to buy at .1 and another 10M @ .15. These shares are only available to be bought if the PPS hits .1-.15 (which they clearly think it will hit) and are restricted until then. So in my mind, the O/S is 600M but the float remains unchanged. From their standpoint, they have to ensure that they will have additional capital to complete Phase III and Phase IV + production phase...
and if there's a substantial amount of gold in all locations, they could buy the entire mine and double their valuation on the cheap. The possibilities are enormous here.
Exactly. People are acting like we're heading back to .0001. That is not the case - we're bouncing off the SMA 20 on the daily (the ultimate support line for the uptrend) and everything else is viewed as consolidation until that line is broken. Yes, there was a ton of retail hands selling off to buy in lower. But there was NO DILUTION. June 25th marks the end of their Phase II testing and we should have a nice run-up on their sampling/assays. If you can't wait until then, cya! I think we will be trading in the .1-.15 range as we approach their phase II deadline, with a spike to .25 on good valuations. All this crying over a "declining" stock is ridiculous - I'm adding on dips and flipping around a core position to lock up more shares. Trade this however you want - I'll be over here making money :)
stop spreading incorrect information. An O/S of 580mil shares @ .01 yields a market cap of $5,800,000, not 600k. The bottom is .009-.01 so I would get in before the next run.
I added more shares today; I will be continuing to add on dips!
To those who "called" this consolidation - good for you. But seeing as how the overall daily chart trend remains intact (read: positive), it was just a great opportunity to add shares before the next run. Once the company comes out with uplisting news OR information regarding the exploration process, we will really skyrocket. Until then, the technicals rule this chart.
Warmy, you get my last post of the day! WOOHOO!
I believe that an 8k is coming too, but I'm not going to hang my hopes on it. Right now, given all the information we currently possess (confirmed, not potential), the timeline puts us in great shape for April or May. I can wait that long as we begin a PPS rise to .1 or .15 (warrants). If they uplist, we will get there even faster. This company is doing everything right and I have a considered amount of cash invested here that I won't be moving around. Promoters will come and go and we will all have opportunities to profit here - uplisting to the OTCBB could come any day but until we know, I'm just going to enjoy the ride. GLTA
haha hi moosey!
Lost my cool a minute with that bum. The next payment will be March 13th. We might hear more information around that time imo.
So then sell your shares and leave if you're unhappy. No one here is going to baby you while you cry about "the 8k that hasn't come". The company put out a more defined timeline of the exploration/production processes and you're complaining LOL.
THE FILING IS RIGHT HERE
http://www.otcmarkets.com/financialReportViewer?symbol=GDSM&id=73887
THEY MISSPOKE WHEN THEY SAID 8K AND SAID AS SUCH ON TWITTER WHEN THEY POSTED THIS SUPPLEMENTAL INFORMATION.
It means that the company foresees the PPS rising to AT LEAST .1-.15 in the next couple months. If/when this happens, the investors that have put up the original cash will be able to buy these shares from the company directly.
So let's use this example: I'm one of these investors that can buy warrants at .1 or .15. GDSM rises to .25 on substantial gold reserves PROVEN (or maybe it rises on the rumor and spikes on the news). Either way, if the stock price is .25, I have these warrants at .1 and .15 that I can purchase and then sell a portion (or a majority of) for extensive profit.
It's basically a way to reward investors that have given the company the cash to complete the exploration phases of this process.
Full STO told the oversold story quite well. I added early today and I haven't sold a share. I may look for opportunities to flip for more shares down the road but all profits will be funneled back to my original position. I'm very bullish on this stock!
THE MACD LINE CROSSED OVER SIGNAL ON 15MIN CHART! WOOHOO! I think we have a strong chance to see strong upward pressure through EOD today and we should begin to push back toward .03 tomorrow.
bacc, I don't have a premium account so I can't respond to PMs
http://www.otcmarkets.com/financialReportViewer?symbol=GDSM&id=73887
^^ how is this a fake filing? I don't care about posters pretending they are some big shot - I care about the information. The supplement provides a direct timeline to the NI 43-101, production phase, etc. Please tell me how a company can fake such a filing.
They already filed supplement information that is the equivalent of an 8-k.
lol, I really don't understand this sell off. The company is in phase I/phase II exploration of the mine and will probably be putting out a NI 43-101 report within 120 days. Financing has been handled, etc. This sell off is absurd.
It just hasn't made the turn yet on the MACD graph. Once it begins to turn and tighten for the break, we will see increased buying. I'm also tracking the flag pattern that we are creating. During the previous major move, we began at .011, hit a high of .02 and then consolidated back to .0135 before the next move. That next move was from .0145, hit a high of .0345 and is now consolidating back to .0185.
So if we compare, the previous consolidation gave back 73% of its run before the next 150% [multi-day] move. With the new launch point and consolidation period, we're currently looking at this stock giving back 80% of its run before the next 150% [multi-day] move. I think we're very close to finding the bottom, but even if we still consolidate back to .014, the progress of the company and the overall trend are still positive. Until the daily chart breaks down, you won't see the bottom truly fall out of this stock.
There is no timeframe that I can see getting us out of the downtrend atm. My best guess is that if we remain trading above .02 with some buying pressure, we could see the reversal in an hour or two. I would rather see it at 2pm EST - lunch will be over and buying pressure would be immense. Crossing over during lunch may not give that ultimate kick that we want, but it would still be effective. Regardless, this is going back above .03 soon.