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If this were a US company we would have multiple PR's about class action lawsuits but I guess the Australians are a little less litigious.
News of class action against a company has in many cases lifted the PPS by 30% or more so who knows what happens here.
I dumped pre-market when I saw PBT (PRAN) on the Australian stock exchange was down 6%. Pretty simple math.
Momentum is down, bid support is weak so loading is very risky IMO.
Sumo
It's not panic, just smart trading. I dumped my 5K shares (for a small profit) pre-market because it seemed fairly obvious the market would react negatively to company dilution.
We're now sitting on the 52 week low.
Shorts felt no need to cover Friday so I think you are right.
PRAN won't give up on PBT-2, has other candidates in the pipeline, no debt and plenty of cash on hand... RSI, MACD and Full STO point to a hard bounce mid week IMO.
PRAN
Send him messages on his facebook account, I did plenty of times. That way you can also keep tabs on what kind of cars and mountain bikes he's buying on your dime!!
ELAY
https://www.facebook.com/sergio.pinon1?fref=pb&hc_location=friends_tab
In the 3 years I have followed ELAY never have they paid wages, rent or anything else in cash, it has always been shares for services rendered.
While I first traded this turd, CEO Pinon (well maybe Bruce Harmon was to blame) took the share count from 160 million to over 4.5 billion in a few months and then dropped a 1 for 200 R/S on his loyal shareholders stuck holding at no bid/.0001.
Interesting how a one man show (Pinon) can burn through $1-2 million per quarter, every quarter without generating revenue???
This has got to be the longest running share selling scam in the history of penny stocks.
There simply is no business, just a repetitive cycle of massive dilution and R/S's.
Have fun with this one folks!
ELAY
Nice kick finish today, bottom could be in for PRAN.
Easy scalping on this one
Looks like we will re-test 2.29, who would be dumping at these levels still?
Good advice RJ, I scalped out at 2.41 and didn't buy back in yet.
Hoping someone shakes the tree in the a.m. for a re-entry.
PRAN
First sell order set at $4.60.
PRAN is gonna run hard once we punch through 2.44 IMO.
Grabbed 3000 at $2.29 for a starter.
Will load the boat in the a.m. if it touches $2.00
RSI in the teens, this is WAY OVERSOLD
I was wrong too... the dismal ELAY news came out on time.
Elay made the pump and dump list March 14.
Oops.
http://www.pumpsanddumps.com/
Wrong, there are no revenues for ELAY so they have no choice but to take stock and dump on the market.
Back to the drawing board!
You hit the nail on the head B, learn the pattern and trade it for profits but understand there is NOTHING to invest in.
Listing Bruce Harmon as a contact should not be legal considering he resigned 8 months ago.
Good luck man and check out AMB* or is it *MBS I can't remember. Great short term trading and long term investment potential.
CEO Pinon took a new job last year (Don's Tree Service I think it was) and CFO Harmon resigned as CFO and Director of the Board in August 2013, check the 8K filing for August 2013.
THERE IS NO COMPANY Smilin B, only an old website that will soon disappear like all links to SEC filings and everything else have on the Elayawayinc.com website.
Even when Pinon and Harmon maintained the illusion of a real company in 2012-2013 they had zero contact with shareholders.
Pinon still pays himself millions of shares for "services rendered" and Harmon still pops back occasionally to take millions of shares for "past services and debts".
Sorry bud, this one's a scam. The one silver lining is that as of today's date, ELAY is fully reporting which means it may have some value as a dead shell reverse merger target in the future.
ELAY annual financials are ALWAYS the same year after year.
$5-6 million in new debt (miraculous considering there is no business, no office and no employees) with a whopping $60-80 thousand in revenue for the year.
Expect an NT 10K notification that annual financials will not be submitted on time.
Asher and Southridge have this stock in a death spiral that always leads to .0001 and no bid.
What happens in April?
If you go to www.elayawayinc.com even the SEC filings under the Investor Relations link have expired and are gone. BIG RED FLAG
Former CEO (Pinon) and former CFO (Harmon) are crooks with a trail of victims miles long.
I got burned $5K but was fortunate enough to get most of it back after they did a massive R/S and took it from .02 to .0002 in a few weeks. bought some .0002's and .0003's and dumped for a 4 bagger.
No response from ELAY because there is no company, no office, no management just a share selling SCAM.
Harmon resigned a year ago and Pinon pops in every month or so to sell shares for "services rendered". This of course is a scam because the business doesn't exist.
Cut your losses and try to recoup when ELAY reverse splits and crashes to .0001-.0002 again. If it doesn't get halted first.
For what I know of Gerald's character I could easily assume he was giving shorts an opportunity to cover before the wave of PR's hit.
The very same shorts, bashers and bipolars trying to destroy the PPS and company's important work were shown grace by a focused CEO... that would be one for the history books.
I topped up at 300,000 shares even today and look forward to how things play out by Q4!
Good luck to /all,
Sumo
Great vision Trashboy! Just added another 69,000 shares today for a total of 258,000.
Hoping to accumulate 400,000 before it goes parabolic!
Good luck to all AMBS shareholders!
Good commentary JP, I think it's time for AMBS to run.
Bought 189,000 shares today.
Sumo
Wow, $5.00 spread on NUGT today, congrats to the winners and holders!
Nice run up for NUGT and the miners considering gold has been flat all day.
Nothing but bullish signs today for another leg up for NUGT and a split announcement for DUST.
Any of you guys still holding from the bottom in the $24's?
Sumo
Hey Stock, are you on the sidelines right now? I'm out of NUGT/DUST until voting in Ukraine is decided.
Added to my RUSS position today, it's been a steady climber for 10 days now. Very predictable pattern, buy EOD and it pops 3-5% before noon the next day.
good luck
Jumped out of DUST at 18.72. The risk of short covering going into the weekend's vote in Ukraine is too great IMO.
Could be a huge gap up for gold and NUGT Monday morning.
Nicely done Stock, I bought DUST at 19.00 even and got out 19.39 but just a small batch.
After hours action is pointing towards a gap up for NUGT in the a.m. but we never know!
Cheers,
Sumo
Triple top and substantial pullback or gap up overnight to break and close above 27.00 tomorrow which could mean NUGT to 65.00 IMO.
Either way NUGT tends to gap and allow me to exit eventually with extra pocket change even when I get it wrong short term.
Good luck,
Sumo
Bought DUST end of day, 18.46 avg.
It would seem I am fond of standing on the tracks with the NUGT train barreling down on me.
March is historically the worst month for gold prices so I'm hoping for a repeat performance... if not and gold continues up to 1425+-, it should be 1600-1700+ by December!!
Just can't shake the idea that gold is going back to 1200 so I may be the bug on the windshield by morning.
Very interesting post by basserdan on GOLDBUGS forum.
Good luck all
Interesting article
originally posted by basserdan on GOLDBUGS forum. Charts didn't transfer, check out GOLDBUGS.
Gold Is Seasonal: When Is the Best Month to Buy?
By Jeff Clark,
Senior Precious Metals Analyst
Monday, 10 March 2014
Many investors, especially those new to precious metals, don't know that gold is seasonal. For a variety of reasons, notably including the wedding season in India, the price of gold fluctuates in fairly consistent ways over the course of the year.
This pattern is borne out by decades of data, and hence has obvious implications for gold investors.
Can you guess which is the best month for buying gold?
When I first entertained this question, I guessed June, thinking it would be a summer month when the price would be at its weakest. Finding I was wrong, I immediately guessed July. Wrong again, I was sure it would be August. Nope.
Cutting to the chase, here are gold’s average monthly gain and loss figures, based on almost 40 years of data
Since 1975—the first year gold ownership in the US was made legal again—March has been, on average, the worst-performing month for gold.
This, of course, makes March the best month for buying gold.
But: averages across such long time frames can mask all sorts of variations in the overall pattern. For instance, the price of gold behaves differently in bull markets, bear markets, flat markets… and manias.
So I took a look at the monthly averages during each of those market conditions. Here’s what I found.
The only month gold has been down in every market condition is March.
Combined with the fact that gold soared 10.2% the first two months of this year, the odds favor a pullback this month.
And as above, that can be a very good thing. Here’s what buying in March has meant to past investors. We measured how well gold performed by December in each period if you bought during the weak month of March.
Only the bear market from 1981 to 2000 provided a negligible (but still positive) return by year’s end for investors who bought in March. All other periods put gold holders nicely in the black by New Year’s Eve.
If you’re currently bullish on precious metals, you might want to consider what the data say gold bought this month will be worth by year’s end.
Regardless of whether gold follows the monthly trend in March, the point is to buy during the next downdraft, whenever it occurs, for maximum profit. And keep your eye on the big picture: gold’s fundamentals signal the price has a long climb yet ahead.
Everyone should own gold bullion as a hedge against inflation and other economic maladjustments… and gold stocks for speculation and leveraged gains.
The article Gold Is Seasonal: When Is the Best Month to Buy? was originally published at caseyresearch.com.
Man, I didn't see it bouncing this hard.
I left big money on the table, congrats to you.
Thanks benchman.
Ballard is just down the street and my best friend worked there for years, I'm gonna see what I can dig up and may go long as well.
Sumo
Filled at 4.50, out 4.75.
Could get really ugly again today, looks like we are still getting dragged down by PLUG and the ruthless shorts.
Good luck
Put a buy order in for 4.50, will wait and see.
Good luck
Wow, ruthless sell off on all fuel cell stocks today.
Do we see $4's today?
Stop loss set 2 ticks above my buy so no worries.
Good luck
Damn, stopped out
Jumped in 6.02, hoping for a big bounce.
A buddy of mine worked for Ballard and told me to get in around 1.00, wish I would have listened!
Limit sell triggered at 20.08 for weekend's beer money and got a nice scalp in on BLDP, great volatility right now.
I couldn't resist Stock, bought 1000 DUST at 19.80.
Gold hitting major resistance in the 1352 area.
If gold breaks and holds above 1355 I will reconsider by bearish ways.
Good luck today,
Sumo