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Did you announce your gbp/usd trade before you got in?
You're welcome. It's up over 200% since I first made the recommendation. Glad you have been able to profit.
Excellent observation on that long term trendline. As for me...I don't see anything that will push it up through that major resistance level. How about you?
Dr. Glance...I ran across these websites that are getting 5 star ratings. http://www.fxbootcamp.com and http://www.fxinternship.com
Quick question...were the Telecordia pr's removed from the rim website? Are they still gone?
Once the dollar index breaks one way or the other out of the sideways trend, that will determine the next direction of the major trend.
I agree...potentially a very lucrative fundamentally and technically based trade.
That's a good point. I don't believe thinkorswim allows you to trade penny stocks although I could be wrong. I've never tried. Other than this stock and one other (both back in 1999), I stick with stocks over $20 as a general rule.
You may be right. I'm assuming everyone does it the same. However, Oanda may very well do things entirely differently.
They pay the interest at rollover...which bleeds over into the next day. In other words...Friday looks like Saturday. At least...that's how FXCM does business. I'm not sure about other dealers.
By the way...if you like statistics...try this:
Using the GBP/JPY (very nice carry trade)...on a daily chart, go back over the last year or so. Every Tuesday at 4:59pm EST, enter a trade that is favorable to earn the interest (on the GBP side, obviously). Exit the trade at 5:01pm on Thursday.
You'll be pleased with the results. Make sure to count pips won AND interest earned. Interest earned for Tuesday, triple on Wednesday, and single for Thursday.
Also, the big banks know this as well so they usually begin buying on Wednesday before 5pm it seems. So you oftentimes make some decent pips as well.
You don't get paid interest over the weekend. To make up for it, they pay triple on Wednesday.
beech- These guys are the absolute best in my opinion. No one even comes close. They actually SHOP your oder. I put an order for 10 options contracts a couple of weeks ago for $4.25 per contract. They obviously shopped it around and I got filled for $3.95. Also, the customer service is AWESOME.
http://www.thinkorswim.com
Holy cow. Are you serious? That's utterly IMPOSSIBLE. If that were the case...funding would NOT have been an issue. They would not have resorted to toxic financing. Money would have been readily available. Did you think of that yourself or is someone filling you full of it?
Nope...you can buy at 4:59 pm and sell at 5:01 pm and collect the interest.
You just lost a little bit of credibility. You come into this forum defending a company that is pretty well indefensible. We've been lied to for YEARS.
Great question. Here's my response.
If what Rim has is that huge...funding would NOT be an issue. Whatever they have as far as technology is apparently not huge enough. If I'm wrong about that...we'll be bought out before years end in my opinion for pennies.
At this point...I'm having a hard time seeing how the common shareholder comes out ahead here. Either a RS or buy for pennies are the only two options I'm seeing.
Of course, Brad and Ray stand to make a ton with their millions of options.
I hear what you're saying. Andthat may very well be the case. However, let's say the O/S is 500 million by the time they book orders and get a loan. Let's also assume they start generating revenue.
Here's the problem...
The job of the CEO is to get the share price up and keep it there. In order for that to happen, institutional money will need to start flowing into the stock.
How do they attract smart, long term investors into this stock to create the type of demand it will take to acheive any significant, long lasting share price appreciation with 500 million shares outstanding? Regardless of what folks say...it's not that easy to do with that many shares out.
In my opinion...a reverse split is the only solution. If I was CEO...that's exactly what I would do for sure. I actually believe it's the SMART thing to do once the conversion is over.
How do you avoid it?
Hey wheels. I tend to agree to some point. The future does look like it may be shaping up to some degree. I'm still in wait and see mode. It's hard to refute the recent press releases. It appears they may have something of value.
A few things definitely cause great concern, though.
One question I do have for you that I've asked a few others.
How do you feel NV will deal with the share price into the future without doing a reverse split? Companies that have this many shares outstanding, in many cases, have used the shares to purchase other revenue generating companies that adds immediately to their bottom line. A company starting from scratch should have no more than 50 million O/S or so MAX.
Also, it's VERY hard to attract smart money to a stock with so many shares outstanding.
How do they do it without doing a reverse split?
So far, everyone I've asked has no idea how they'll accomplish this. In my opinion, a reverse split is a GIVEN unless they take it private...which seems to be a definite viable alternative as Bill has stated.
How about a little test? Offer it to them again now that they have a "viable" tech.
He ***IS*** posting based in reality. The stock, **IN REALITY**, moved about a half a cent today.
Dude...the cat pics are killing me. LOLOL
What chart timeframe do you use?
By the way...100 pips is not necessarily a double. Don't confuse margin requirements with amount invested.
LOL. Those were the plans at one time. We moved to Utah and hooked up with some good quality individuals. I started an investment company instead of going to law school. Moving out here was the best decision we've ever made. Now I just hire ambulance chasers to help me push the limits of the law so that I can keep most of my money instead of giving it to uncle sam. Those guys are freaking amazing. Worth every penny.
By the way...I need some office supplies. Know any good post-it note salesmen?
jjz- you asked for it the day you decided to become an ambulance chaser. :)
Your approach is not wrong. However, the daytrading approach is not wrong either. You have two major categories of styles. (1)swing traders and (2)trend traders.
Within those two styles you have three different types of risk tolerance. (a)anticipatory (most risky--wrong more often--takes the most trades--more reward when right--takes REALLY small losses if done properly) (b)signal (medium risk--right about half the time--waits for confirmation before taking a trade--less reward per trade offset by being right more often) (3)retest-- the least amount of risk--more right than wrong--waits for DOUBLE confirmation)
Brother Glance happens to be a swing trader who anticipates the move of the market. What may be right for him may not be right for you. He also uses a shorter timeframe chart because he enjoys watching the market. That may not be right for you either.
I happen to be all of the above. How I take a trade depends on the strength of the trend and how much time I have to spend that day. I also use a different timeframes. I just have fun with it.
There's no right or wrong way to do it. It seems like you're feeling your way through this. Best of luck to you in finding your own style and risk tolerance.
It's funny. Someone is dangling a carrot in front of your nose. "November...November...November..." Yeah...just enought time to convert shares.
Maybe they have something of value. However, it'll be a cold day in hell before this stock price reaches and stays above a dollar. A reverse split is a GIVEN here. There;s NO WAY to get the pps up to a respectable level until after that happens...REGARDLESS of how HUGE this tech will be supposedly.
This all assumes, of course, that Brad even cares about the stock price for the long term.
I see the big picture here. You're an idiot. THAT'S the big picture. LOL
I've read the entire first page of the website. Are you the one doing the stat. analysis? If so, how is it working? Is there anyone else doing it?
Good post.
To me..."classical" tech analysis is pretty much the same thing as statistical analysis. A good trader recognizes patterns...and if played the same way over and over again...I come out way ahead. You can either be an anticipatory trader...a signal trader...or a re-test trader. Once a person gets that figured out...and also figures out whether they're a swing trader or a trend trader...then analysis paralysis tends to disappear.
I am, however, very interested to look further into statistical analysis. Statistics could potentially assist with trading to a very large degree.
That might not be a bad play. I can see where you could make a strong case for a bear flag pattern.
Also...Brother Glance made a good point in that gold is expected to rise. However, the good news is that gold was in a consolidation pattern for 2 months and it finally broke very definitely to the downside below it's 200 day ma (XAU) although it may come back up and retest previous support.
You'll likely find at least some support in the Aussie at the 200ma (.7469 as of now).
Based on the high made on 9/15...it looks like you have your stop set in a pretty good place.
Based on an almost 3 to 1 profit to loss ratio...you only need to be right about half the time to be profitable.
The main thing that scares me about this trade is you're at an established diagonal support level. I probably would not have taken this trade based on that.
Just my 2 cents.
Excellent post.
jjz- Sadly enough...there ARE people who invest in just that fashion. They jump in for a short term gain and then they're out. That's why Lebed gets the big bucks for promoting the stock.
Also keep in mind that these countries NEED for our economy to be stable and flourishing. If our economy goes to hell in a handbasket, it HURTS the entire world because we're a nation of consumers...and a lot of other countries depend on exporting their goods to the United States.
A lot of folks believe that OPEC and other oil nations want to tank our economy by gouging us with high oil prices. My opinion is that they do their best to strike a delicate balance. Otherwise, the demand for oil goes way down...which makes for more supply than demand which of course results in an unstable oil market.
Keep this in mind also...
When the entire world believes oil will forever go higher...and that there's no possible way for it to go down...that's usually when smart money starts selling oil.
Iacocca had a track record that could be counted on.
Brad and Ray have a track record that speaks for itself so far.
As I've stated...smart money is waiting on something that can be counted on. Have a good one.
In my opinion...supply is not the problem. Refining capacity is the huge hurdle we must overcome.
OPEC has stated that they wouldn't mind pulling more oil out of the ground. However, it's useless to pull more out of the ground than can be refined in a given period of time.
We need refineries.
Just my 2 cents.
No...that's not what I'm saying. Swing traders are not investors. If you were in on the swing from .02 to .20, my hats off to you. Nothing wrong with that.
What I'm talking about are those institutions that INVEST in a company. Meaning, they are trend traders. Once they put their money into a company, it's there to stay until the trend reverses.
Once an institution decides to get in, it may take several weeks for them to do so. Folks like you and me can see it from a mile away. And the price tends to move up slowly but surely.
The only folks buying this stock are the swingers.
poorboy--I consider you a part of the semi-smart money crowd. Definitely not dumb.
That was a compliment, by the way. lol