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I think you will do fine YWC, just fine with a 1.62 avg.
Good luck to us.
Guessing bottom on this will be next to impossible. Instead of trying to guess the bottom just right and "loading up" I think the better approach is to ease in slowly. At 11 cents I bought a chunk. If it goes to 9 cents I will buy another chunk and at 7 cents and 5 cents and 3 cents and whatever. If it bottoms at 9 cents then I ride whatever I have for example. You start at what is around or maybe near kind of bottom possibly and accumulate downward. Timing exact bottom on a naked shorted warrant machine like this is impossible IMO. Eventually though it should get a good run which is why I am easing my way in slowly starting today.
Yes, agree, I do the same. I like to ease my way in.
Yep, pretty much what I was thinking. I think it might not bounce (markets or crude) until next week, maybe more flushing? I'm still mostly cash so all good.
I picked this up and some AAPL and GPRO and because I am really nuts some GBSN.
I went ahead and bought a good chunk at 1.43, let's see how long it takes before I'm red lol.
Also just went on a bit of a shopping spree with some way oversold stocks. the chart for the DOW ($INDU) is below the lower bollinger. don't see that very often.
Nice call. I just bought starter position at 10.9 cents.
The post is right there. Yesterday a little after market open. I said I was selling. I even talk about how the market pop yesterday morning and the tiny oil pop yesterday morning were not going to hold. The post is right there with a time stamp.
I'm busy and I'm sure you have better things to do so see you back here in March maybe. Good luck.
Got out yesterday morning. Posted it, it's right there. Got out about even. Said I'd be back later.
Good luck to you, see you around maybe.
I bought some pre-market. First time buying this since August. It wasn't a lot, just a starter pretty much.
lol, i hear you, the way this is going oil will be free in a few months. I actually think I'm going to start a position in this tomorrow sometime. Nothing major, just going to ease in.
I agree with that almost exactly with one exception. I think crude has one decent bounce before going to those levels and bottoming. I mean it is possible for it to go from $38 straight down to low $20s or something without having even one decent bounce but I just think it is unlikely.
Completely agree. It is why I have some interest at the moment. There hasn't been any real decent bounce from the $38 drop in crude so there should be a decent one soon I would think. I mean there was some support at 30/31 but not really a bounce. Do for a bounce soon I think and a decent trade.
I agree, and yes there really is no enforcement. It's terrible but that's the way it is. It's also why I stayed the heck away from this for a good long while after making a pretty good trade back in September. I did miss that run just before the R/S happened though. I wasn't paying attention. I should have seen that coming a mile away.
Hey YWC, how have you been? Good I hope.
At 1.80 I think you should be fine. If my guess is right and there is some bounce at 27 or so and say it goes to 31 then that would bottom UWTI around 1.40 or so but then pop it to around 2 bucks or so. It's hard to figure out exactly with the erosion this has but something similar to that I think.
I'm probably going to buy some tomorrow but just kind of ease my way in. Buy some tomorrow and then add if oil continues down maybe every dollar that crude drops. It will have a decent bounce soon (dead cat), at least it should, maybe next week, who knows.
With something like this the erosion can be tough to play long, better for trading. Easing in at a time like this is safer. I'd ease in currently. If something really stupid happens like RSI goes to 15 or lower or there is some "event" or there is a strong candlestick pattern or something then I would load. I think something like that might happen in March. When this does have a bounce (which I think should be soon) if the fundamentals have not changed or an "event' has not happened or the RSI isn't way way way low like 15 (talking about $WTIC chart not UWTI chart) then it will probably be only a 3 day bounce or so IMO. Who really knows though, so many guesses and predictions out there.
I think there will be a little pop for oil fairly soon. Nothing major. I just look at that oil chart and wow it looks almost silly. I get the macros and everything though. Things just don't go straight down though and oil pretty much has since $38. No real bounce to speak of since falling from $38.
Then I look at DWTI and SCO and they look pretty topped out to me. I think maybe $27 there might be a temporary bottom and then a bounce to $31. Then lower lows come by March. A bounce is needed to re-set some things to get lower lows for oil. I think low 20s to 25 will be seen in March and then from there probably a pretty decent run back up to $40 by summer. That's my guess anyway. I don't own any yet but I'm starting to want to buy. Flip on a bounce that I really think is coming and then maybe load up in March. We'll see.
Here guys, I like to use this to track the oil price. It's real-time and gets rollovers and whatnot correct. Some of these other sites mess things up at times or are not real-time.
https://www4.dailyfx.com/crude-oil
I have a theory and I discussed this back in September on here. I believe that warrant holders naked short sell this stock. There is evidence that they do. First both times before warrants start to get converted you can see on the chart that days before the pps starts to crash. It starts to crash BEFORE dilution.
Then the volume doesn't add up. Look at today. A few million more shares were traded then are even outstanding. Forget about the float, it traded more then are even outstanding today.
Now pull up a chart. Look at those pretty lines going down. Almost perfect like a machine did it or something (algorithms).
Then consider that there are significant failures to deliver (on REGsho). Now how can that be. How in the world with so much dilution can sellers not be meeting their obligations to deliver shares on the settlement date.
I believe they have been naked short selling. If they have then one thing to keep in mind is what that means is that they are selling shares BEFORE they have even converted the warrants. They naked short sale and do it with full confidence knowing that they have those warrants backing them up that they could convert and cover with. That way there was no risk of a squeeze because they constantly had a safety net.
When it gets toward the end however they will stop with the naked short selling because the safety net (warrants) is depleted. They probably have still a rather sizable naked short position. What warrants they have left they need to cover that naked position. This is possibly why the pps didn't tank again today because they stopped with the naked shorting.
Heading forward one has to consider the outstanding naked position in this and then has to understand that whatever is outstanding in that position in essence has already been sold. In other words there are a lot of shares that have already been sold but not converted yet. Many of the last of the warrants will be used to cover (deliver shares to clearing house). That process will not cause any harm. The warrants that are not tied to naked short selling can and will be dumped and that can hurt the pps. If we don't see the pps crashing the next few days then that tells you how big that naked short position was IMO. It should have crashed today but didn't which tells me that majority of remaining warrants are needed to close out naked position vice needed to just dump into the float.
At any rate that's my theory and MO of how this whole GBSN stock story has gone since August. O and if GBSN and their financial adviser didn't know or just figured out that warrants were being used as a safety net to naked short then there is no excuse for that.
Probably going to sell today. Little market bounce I think won't hold and little oil bounce already not holding. Will sit on the sidelines on this one until maybe March.
I also have shares at 2.40 from pre-market the day before.
I ease my way in.
Also as far as posting on IHUB. Yea, I don't feel compelled to have to post immediately after I buy or sell something. I'm busy and IHUB is low priority.
The 3 of you can talk shit all you want to. I don't give a damn.
Bought some at 2.26
You can do fine on OTC pinches but it takes some practice in getting used to them. They are a different animal and have to be bought and sold different then a big board stock that is pinched.
Many tickers you just mentioned I was in or had on watch. TSTS I had 5 trades in it each 50%+. BTFL I hit on with an enter at 003 and out at 008. OCLG I never got in because I didn't like the pinch. VAPE only once within the last year did I like the pinch and I traded it from .025 and sold at about 5 cents. PFSD had a crappy pinch, didn't enter it.
As you talk about the dilution toxic note crap of the OTC that is very true. A little tip I could give you. For OTC skew the chart hard. That will help. For instance PFSD is a crappy OTC pinch. DCAC is a good OTC pinch. DCAC has a good pinch but not great. BTFL and TSTS had great pinches. They did both pop 300% or so in Nov/Dec, even if short lived they did do their thing.
Yep, certainly right about that.
I don't think he will get $60 by end of year. The macros have to change. At some point they will. Some nut job or group or country could do something. OPEC could throw in the towel. Who knows but something has to change the supply side for oil to hit $60 later this year.
I believe that since it is currently over-sold there will be a little pop but nothing major. It will not sustain. I believe new lows will be seen in March (end of winter time-frame). Following that I believe there will be a recovery and actually a real pop or decent run that brings oil back up to the $40s.
I'll play for little over-sold bounces here and there while expecting lower lows over this time but in March or so I might load up in my expectation for a real reversal at that time.
Bought some in pre-market.
No, self taught as in no one taught me including "penny idiots".
You have reading comprehension problems or something.
I don't know anything about investment books. I have never read one. I never wrote that I read investment books. I just said I am self taught, didn't say what resources I used. You are 0 for 2 on guessing about it though.
I don't need luck with "my SDRL". I sold my shares for a profit this morning. It's someone elses SDRL. I did keep SDRL on watch though and will probably re-enter when I see fit.
You aren't short are you? Be careful, RSI is at 15 something last I looked but you don't care about technicals as they are as you say "scams" so nothing to worry about then.
Yes I read that when it came up yesterday afternoon. It showed up on Yahoo's SDRL page. It is a pretty good read.
For me though that doesn't do anything for me. As I was trying to say to the other guy. I am not an investor. I am a bottom feeding trader. That is what I am, it is what I know and that is what I stick to. Many different types of investors and traders. Each can have their own style that works for them. I like my style and I stick to it.
I understand what you are saying but you really don't understand my side.
Yes, again, I know the SDRL balance sheet. I do use fundamentals. I use that and TA and instinct and market sentiment.
I have never taken a chart coarse. I learned over the years first hand by myself TA as well as fundamentals.
I do not like pumpers or front-loading schemes. I also do like like short and distorters either. Pump & dump is a scam and so is short & distort. I do not partake in either.
I am what I am and I know what I am which is a bottom feeder. I find what most likely you would call junk and I trade it. I buy CMLS around 20 cents and sell for around 40 cents. I buy DSX at 3.70 and sell at 4.20. I buy OTC stocks that have been bombarded, usually by dilution, and trade them as they have a recovery bounce afterwards. I play dead cat bounces to sum it up. I don't care on what market place. I am pretty good at it because I have been doing it for over 10 years. If I wasn't good at it I would have run out of money buy now.
I may be relatively new to IHUB but that doesn't make me "new". Again, the goal is to make money. I have found my niche. It isn't glamorous but I am good at it and I make decent supplemental income. Others can look down at a bottom feeding dead cat bounce trader but profits can be good. I don't go for home runs. You won't see me post crap like "to tha moon". I just make nice solid returns from my trades a high amount of the time.
Having said all of that, no I do not like SDRL's balance sheet very much and the macros for oil are really bad. However, I do believe that there will be very nice dead cat bounce type opportunities for SDRL and the rest of the sector moving forward. Enjoy you evening and I'll go back to bottom feeding now, thank you.
1) I bought yesterday and then sold this morning for a profit. Just a few hundred in profits but hey I'm cool with that.
2) About my bad feeling before the storage numbers came out. I was right.
3) I don't care about Warren Buffet. It is my money and I will trade as I see fit, Warren can do what he wishes and I will do what I wish, thank you.
Finally, I would like to add I made a profit in this trade and more times then not I do. Making money is the goal. If I use TA why should you care? If at times I use instincts off of experience, why should you care? I do use fundamentals too, but why should you care? Yes, I am aware of SDRL's balance sheet. As I said before I am trading, not investing. Lastly the only people I ever hear that say TA doesn't work are mostly people that can't read a chart. Charts certainly work.
Thank you for the tips but I am doing fine, all the best to you.
I agree with all of what you say. I also believe in the TA right now (about a bounce). I was trying a trade though not investing. I had a bad feeling this morning about the storage numbers that were going to come out. I decided to sell before those numbers came out and exited at 2.60 for a small profit. A nice bounce (a real one) is coming here though. I know that it is. I will look to re-enter very soon.
I think $25 oil is the lowest it could possibly go. I figure at that price is when the "real pain" gets felt hard and then finally someone (major player) will pull back on production. OPEC is losing billions and billions and billions. I know they want to claim market share but at some point the pain will get too great.
Here are some pinchers SDRL MGI GSAT. I bought SDRL today but I don't hold the other two yet.
I bought today as well. RSI at 16, ADX at 46, fast sto under 5 etc. WTIC down 7 days in a row. SDRL also crashed below lower BB. It is one thing if it rides down with the lower BB, another thing for it to crash below it. EW looks like end of wave 5. Correction wave coming? I think so.
Thank you mrets123 and others, I really appreciate it.
I think this is some very needed information for some on IHUB. It is lengthy but I just would like to put some sense out there.
I have been trading penny stocks for a long time. What that generally means is that I must be pretty good at it because those that stink at trading penny stocks run out of money to play with eventually. I really don't give a damn about authorized shares concerning penny stocks. I care about outstanding shares and the float. Authorized means nothing to me. I don't marry these I play them. Authorized shares are pretty much forward looking. Outstanding shares are here and now. I'm trading not investing. I care about the here and now not months or years from now.
When I do research on a penny stock authorized shares is the least at what I look at. The first thing I do is I look at the chart and see if it has bounce potential and how much possible. I then go over and look at the latest quarterly. I then look at share structure and specifically I look at outstanding shares and what is the float. I also look to see what PAR value is. I then head on down to the balance sheet and see what it looks like. I also look at convertible loans. That is the big one because the entire OTC runs off of convertible loans damn near.
These OTC companies are always doing convertible loans, all of them. I look for when there are possible pauses between them or in some rare cases a total ending of them. I take what I see in the filings and I match that up with the chart and then have a look at L2.
Another thing about authorized shares is that even if the A/S is small then so what? It does nothing because the company can pretty much raise it anytime they want to. Having the authorized shares at 200 million or whatever doesn't help if hard core dilution is hitting at the time. It does me no good to go and find a sup-penny with 200 million authorized shares but yet Buckman or a similar dealer is sitting as ax on ask not budging and dumping away. On the flip side the authorized can be way up there but if there is no dilution hitting at the time then so what? If the float is still reasonable, and I consider reasonable being no more then 750 million for sup-pennyies, then the thing can still pop/run no problem if it has the right chart set up.
To sum it up I have traded penny stocks for close to 15 years and I am still doing it and I haven't lost my ass and actually make some nice supplemental income. That would lead me to believe I must at least kind of know what I am doing. I look at share structure and I care about the float as most important, then outstanding shares, then the PAR value. At the very bottom and dead last I care about the authorized shares. The reason is because I am trading not investing. I care about now, or the near future, not months down the road.
I see this come up way way too much as a topic on IHUB about sub-pennies and pennies, so I am at the point where I really think some people don't know the difference between different shares, Which I find mind boggling. Here are the definitions in my own words of the types of shares.
Authorized shares are the max amount of shares a company is allowed to issue. A company does not have to issue these shares. The company can use them at a latter date for acquisitions or as payment for company officers or incentives or as payment for debt (note conversions). The company may actually never issue out all of what is authorized to issue out.
Outstanding shares are shares that have been issued by the company. These are shares that were before authorized but were then issued by the company.
Restricted shares are shares owned by company officers/insiders. They are considered "restricted" because it is assumed that they will be held and in some cases they are shares that must be held as stipulated for a given amount of time.
Shares in the float are the actual shares in the market. It is the outstanding shares minus restricted shares. That is what the float is. It is what you and I see traded on a daily basis. The buying or selling of shares in the float is what actually makes the stock price move up or down.
As you can see authorized shares in no way is a part of the float equation. They can be once issued and that is why you watch L2 for dealers like Buckman and that is why you contact the transfer agent to see if OUTSTANDING shares are increasing at a heavy pace.
If I see a good chart setup and I can contact the transfer agent and I see that outstanding shares and the float is reasonable and Buckman and those types are not sitting as ax on ask, frankly I could give a damn about the authorized shares.
I would hope that people do know. Actually yes people do know because the chart shows it. See, look at December 30th. A gap down red doji. That is the day the information was made public. No reason whatsoever for people not to know. That info is 10 days old now. To your point however the WRONG AS # should not be posted.
Sounds good. Thank you and to you as well.
Well, I bought this in the 12 cent area and I sold it today. Made just under 75% on it. It very well could have more upside too. I sold because for me it was time, up enough and all. Did 2 trades last year and had similar results in it. Bottom line is that I have no problems with GBLX. It's been good to me.
I agree. It is inevitable. Just sitting back waiting to get paid with my 8s and 9s. I am very patient. As long as the chart is setup like this one, patience almost always pays.
Don't forget me OG. I'm here, I just don't post a lot.
Hey man remember I had to sit in EVTI for a whole month back in August. You were there too. I had 13s and sold at 46. Pretty sure you did similar. If I have to I don't mind waiting. It pays off eventually. One recently, SMPR, I had to wait a few weeks on. Made over 220% on it. Had to wait but I got paid. Today's action looks fine to me btw. I'll take a "day one" that just gets it out of trips. Nothing wrong with that.
Our DCAC is looking good. I think today is the typical day one (30-50%) that just gets it out of trips. Should be more gains next week IMO, we'll see.
I bought SDRL this morning at 2.77, 3000 shares.
SBLK looks real good. Pull up the chart and you'll see what I mean. I am cautious over the potential R/S that they have approval for though.
TSTS I'm on the bid at 001, but not a whole lot.