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.02 was the 62% retracement of the move from .01 to .037. Nice to see it hold up thus far.
Looks like the buyers might have backed off today to let traders get out and give better long entry opportunities...which I took advantage of.
They've mingled very nicely Blockman, thank you.
Howdy beerdup...
It's nice to be back. I'm slow to catch on sometimes. It's the result of having too many irons in too many fires. Blockman helped me to see the light on this one, otherwise I'd be really sorry I sold earlier. I wish I hadn't, but the losses I took then are distant memories now.
I've also membermarked a few others that have been here who I unfortunately had no knowledge of before I came here, including Stevenvegas. Next time I'll know better!
Hope you're enjoying your summer.
Rich
Grabbed 150k more into the close @ .029/3. MM's actually filled the rest of my order (14k) after the close. Nice of them!
Unless otherwise stated, any and all information I post is my opinion which is subject to change. I accept no responsibility for anyone who chooses to take any action based upon anything I post.
Wasn't me. I thought about it but there were only a couple minutes left and I'da been peeved if I only filled 5k of a 50 - 100k order. Obviously there was no volume to it today so life goes on.
Rich
Good afternoon Gentlemen! Nice to see us back in the sweet spot.
Somebody is short here and caught with their pants down, imo. What makes it worse for them is not only is it the end of the month, but the end of the quarter. Should be interesting to see how much of a fight they put up.
They just filled me, but did not show the trade on T&S
I'd love to, but the MM's won't fill my 50k buy order at .03 all the while they're building up the ask.
The gap was filled at 9:30:39 with a trade at .021 for 65k shares. There is no gap here.
Congratulations Tanail. Lots of ways to make money on the downside too. I've been doing very well myself.
Take care.
That adam & eve formation getting prettier by the day. Waved bye bye to my prior loss at .0135.
Have a great day longs.
Rich
Tanail,
Good luck to you also. A word to the wise...I wouldn't be holding those "oversold" stocks for too long. We're in a bear market again and I wouldn't be surprised at all to find things much lower by the end of year and a few years to come.
Take care.
Opinions vary. You're entitled to yours. I happen to disagree.
Take care.
Now THAT'S a chart! em
I took care of it during my afternoon nap Blockman. Never fear, I'll cover you!
Rich
Thanks beerdup. I'm not as familiar with the story here as most are. I have a general understanding of things but am surely missing many details. What I do see still looks pretty good. As far as pinks go FRGY is definitely one worth keeping my attention on.
Rich
Thanks Jstops. Blockman, I might have to eat a little of that crow myself. I can't help the trader's mentality though.
In retrospect, when I sold last week I was focused on the fact that there is a persistent seller, but didn't give equal attention to the fact that, thus far, there has been buying with just as much persistence around this penny level. I still like the OS here and the dilution doesn't bother me as long as it's not excessive. I like the chart formation too. So, I'll stick around and see what happens from here.
Rich
Ok, now I'm intrigued...
Not much of a sell-off at all on this news and bid is still looking very strong. I'm back in.
My pleasure JT...congrats!
Yeah, the NYMEX mini future has been a nice ride for me the past several months. Wish I had started years ago.
Off to go buy some new 24" monitors so that I've got more room to see all that green with!
;-P
The daily chart is actually looking like an "Adam & Eve" bottom now. Bullish sign imo.
Well it looks like I lifted the curse for you guys! lol Congrats to the longs. I recovered my losses here in oil futures today so that softened the blow.
Take care.
Rich
You should save it. One day cars may run on fart power.
I'm out. Only 150k so no big deal. I depend more on technicals with the pinks because it's very difficult to know what is legit and what isn't based upon the info provided.
Nobody can argue the fact that there is one or any of the combination of sellers, shorters and/or dilution going on with this stock. Whatever the case, all of the recent buy interest has been soaked up by those on the short/sell/dilution side for better than two weeks. Not something I enjoyed watching.
I have no intention of arguing my observations with anyone here. Everyone is entitled to their view and should take action based upon those views.
I do wish the longs well here as I've come to get to know a couple of you. I still have FRGY on my watchlist and have no qualms about taking another position if my perceptions change for the better.
Take care.
Rich
Unless otherwise stated, any and all information I post is my opinion which is subject to change. I accept no responsibility for anyone who chooses to take any action based upon anything I post.
Kyinvestor,
I don't know how experienced you are with trading pinks so I don't know how basic you want to get, but there are a couple general rules you might want to follow to help you out.
I don't know where your entry point or cost avg is with QMNM, but if you've done your DD and like the prospects for future growth, but still want to lower the potential risk of things not working out in any of the plethora of ways pinks/otcbbs can go bad, then I would always recommend at least taking your original investment out at the best price you can. If you've got 50% profit on your shares now then you can sell half of them and hold the other half as basically "free" shares. Generally with pinkies it is best to at least do that much and maybe even get a little profit so that you can move on and not worry so much about what the rest does. Whatever you get out of it will be pure profit.
From a technical perspective there are a couple simple things to keep in mind to help you recognize strength in a stock. The first is that more often than not a stock will run for three days and then the selling tends to outweigh the buyers. Obviously this is not always the case but it happens fairly frequently.
The next very simple thing to help is, whenever you have an exceptionally long candle on a chart, add the high and the low price and divide them by half. The number you get should be a good support level for a stock that has a lot of momentum.
If you put those two things together...where you're on the third day of a run and the stock pulls back to the half way point of the candle, you might want to consider taking at least some profits on a break below that level.
Very generally speaking, you should never feel bad about taking a profit, even if the stock ends up running higher, because you never know what is going to happen.
Hope this helps.
Rich
That's a problem you'll find with pinkies/otcbb's, especially low floaters. The MM's are not obligated to fill any orders and typically take care of themselves before they will take care of retail traders. I've had it happen many times over the years and have complained to various brokers who all give the same answer.
In case nobody saw the filings from the 18th...
http://ih.advfn.com/p.php?pid=squote&symbol=MNAP
Hi JT
I've been nibbling on dips to the .04's. I have as much as I really feel I need so now I just buy when a good opportunity comes to lower my basis. Haven't sold/traded a share here, which is extremely rare for me with pinks.
As a matter of fact, I am having a great week. The oil futures were particularly good to me yesterday. I might even cut out early today and go to the beach.
Thank you and you take care as well.
Rich
The odds are against it based upon history, but then again who really knows? I like trading this one while accumulating CDCH as a longer hold, so either way I'm making money. I do like the recent strength and will hold on this time to see if we get that PR.
OT beerdup...
I vaguely remember that video. I kinda made my own in my mind's eye! ;-P
I was never a huge fan either, but did like that song.
beerdup...
Hopefully "Eddie" will be singing "Shakin" soon.
Rich
Hiya beerdup...
I'm still around just occasionally lurking and trading other stocks and oil futures. I need about 6 more sets of eyes to cover everything I need to so don't spend much time in any one place.
Thanks again and as always for the updates.
Rich
In other words, they don't want to lose money by giving their own clients the ability to work against their naked short position.
Hmmmm. Only posts about a company probably not owned and definitely not liked. Either way, doesn't follow the logic of someone I'd pay attention to.
Got the rest of my order from yesterday filled @ .0006. (439,699)
You have to be careful with the price info the online brokerages give you at the open sometimes. I'm an ex eturd/ameriturd customer. It was not uncommon for them to take a few minutes after the open before they would post the correct bid/ask info, (which is the least of the reasons why I dropped them both). I have friends with Scottrade who have told me they have the same problems.
I use Interactive Brokers now and pay over $2000 a year for charting software that gives me correct and immediate quote information so that I don't have to worry about bad info from bad brokers. It's been worth every penny.
Unless otherwise stated, any and all information I post is my opinion which is subject to change. I accept no responsibility for anyone who chooses to take any action based upon anything I post.
RIO (36.26): Looks like a gap n go day. em
The ask is now 2.80, which is as high as AYSI has traded today. Perhaps I'm delusional. I like your view better anyway.