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We churned 80M vol @ 3 today - there is no danger of panic selling. Most are here on the groundfloor on the potential of news/filings.
L2:
.0002: approx 130M
.0003: approx 20M
.0004: approx 3M (will increase if we uptick)
What do you mean anything from anyone? Or are you just contacting Matt for info? TIA
I think we will see 4 to close. JMO
We're just waiting for the next surge of buys EOD or news very shortly. Volume precedes news - it's clockwork!
Etrade Pro is showing all the 3 hits as sells :/
I know better than that!
A .0004 close moves us above the SMA 50 and a lot of other resistances. A .0004/.0005 with a 5 close would be super sick but I would just like to see 3/4 with a 4 close! :)
Oh, I'm fully in agreement with making money! I've bought in at .0003 myself and I think we can easily hit .001 on solid news or solid MOMO. Looking for some more breakthroughs tomorrow!
Ok, let me rephrase:
it would take SUBSTANTIAL efforts by the company to propel us to pennyland in the short or mid term. I understand that NYSE/NASDAQ companies have multiple billion share O/S and are trading in dollar land but this is a company that is still trying to set up revenue streams and make considerable profit. Let's wait for financials/PRs/filings before we make assessments of pennyland. If they do a share buyback, reduce A/S and show considerable progress, I will be on board with your theory!
I would scale back the optimism a bit because we have plenty of hurdles to climb before pennyland. The company has to show strong revenues and a profitable bottomline. They also need to reduce the A/S because I don't know many stocks with 2B A/S that reach pennyland. Still, this has significant momentum and we can easily reach .001 on strong news or as Clay put it: "organic momentum". GLTU
12.2M in buys @ .0007 within the last hour.
Accumulation in progress imo.
Need support @ .0007 EOM
There's 10M on the bid @ 7 and you're saying we're going to dip to 4 today?
...
There's just not consistent buying pressure this morning. It will come by EOD I would imagine.
Those who realize the play are patiently waiting along with you :)
There were 40 million more buys than sells on Friday. Many at .0009 or .001. One person dropped out @ 8 and people are freaking out. LOL
I would also accept an open of .0009/.001 and strong buying through the wall. Gaps just inspire people to bash the stock down to clear the gap IMO. I'd rather a nice, strong move to .002, break that wall and then go parabolic. :)
I agree but let's temper expectations initially. If it breaks .002, then we can rejoice IMO. Break 1s, we will shoot to 15s and then grind up to 2s. Break that and the chart will be set up perfectly.
A 001/0011 with 0011 close would ignite this chart for next week. Regardless, the break will happen eventually. Only a matter of time.
$5500 gets us back to HOD
I've only been in on 1 10-bagger in my career as a stock trader. This could be number 2... it just depends on the demand that we will see in power hour today and through next week IMO.
I think you agree with this sentiment?
The 8k isn't extremely negative, but not positive either. I am holding for now.
The 8k isn't completely terrible, unless I'm reading it wrong. Yes, they missed their deadline. But it was almost a given that they would not be able to raise 100 million in capital within 2 months. They also added a $15 million charge, but countered with some revenue increases. I think you'll see some mixed trading when this resumes in 19 minutes.
As one of the largest banks in middle tennessee, they would be bought for a large value.
It's more likely that they filed a plan with NASDAQ to become adeqautely capitalized and they plan to also meet NASDAQ requirements in a timely fashion so they aren't delisted. If I were to guess, we're seeing a halt in trading because the plan was submitted
We would see a buyout before a complete shutdown. The halt is probably to file the current 10-Q. A solid 10-Q report would bump this stock up higher today.
A buyout of substance would bring up to .50 cents at least.
Crippling news will send this to .10.
50/50 odds at this point. I'm waiting for news.
Trading halted either means that the trades taking place on the stock are being balanced again or it means that stock is hitting the wire and we will have 30 minutes to digest the information.
Source: Investopedia
Chart Analysis (all IMO):
We're trading in a channel, waiting for filings that will propel the 3rd leg of this action. As it stands right now:
Support 1: .036
Support 2: .035
Support 3: .03
Resistance 1: .039
Resistance 2: .04
The 15 minute chart shows the following:
- We're trading in a symmetrical triangle from the first major fall off at .053. This triangle signals that the stock price could go either way and that time is coming fast. The way that this triangle is set up, we could see a chart/technical breakout as early as tomorrow (more likely early next week).
Something has to give. If the company provides a solid filing regarding their debt payment or their plans for 2012, we will likely see the 3rd leg ASAP. If not, we probably continue to trade into this channel until the technicals spark a run either way. Like Clay said on a previous chart video - the fact that we didn't test .03 is a testament to the strength of this stock. Trade it accordingly, but know that our consolidating time is running out before the 3rd leg.
As the triangle comes to a point, we will trade in a smaller and smaller channel. You're seeing the result of this on L2 right now. AUTO downticked their ask to .0389 in lieu of another 15 minutes passing and the triangle trend line moving down from .039 to .0389. If .0389 comes back up, I suggest that everyone tries to slap the ask and eat AUTO's wall up.
Until the ask is collectively taken out at .039 (AUTO and ETMM will probably both show us together to try and stop this), we won't see .04. If we pass through .039 and through .04, though, GAME ON.
Potentially. News/filings are still the most potent, but on chart/technical analysis, we're trading in a symmetrical triangle right now. On the 15 minute chart, the converging triangle has a top of .039 and a bottom of .035. If either one of these levels were broken and held EOD, we would see a technical breakout. In combination with news/filings, we would see a truly epic move IMO.
There's still a chance that this is brought down once more to test .035, but any break above .039 and, IMO, we will see blast off.
And if you truly wanted to help everyone out, then slap the ask at .039 for 620k shares to jump start the run. And then when the Etrade MM dumps 1.2M at the ask, buy up those shares too.
Otherwise, don't criticize a trading strategy that is keeping us in this channel.
Without bid support, this would have tanked to .03 by now. There's a reason why we're trading in this channel - because that is what's best for the chart right now. The difference right now in bid sitting and ask slapping is minimal, but there are many different trading styles. I've slapped the ask AND sat on the bid with this stock. I've profited both ways by knowing how this will trade. We're in this channel for a reason - the run is coming soon.
A dollar is very possible, but in order to reach that level in a healthy manner, you would probably like to see consolidation with lower volume so that the chart can reset. RSI in the powerzone and 3 straight days of heavy green % may keep some folks out of this play until a pullback.
When did I say to bidwhack? I don't recall ever saying such things. I've only ever advocated for creating a stronger position in this stock because I see the potential and I am comfortable with the risk I'm taking. I just think the stock is more affected by current apathy (because of maintaining the status quo) than "bidwhacking". We're trading in a channel - nothing will break the channel until news is filed. And if there's a selloff, it's only a shakeout to induce fear for additional accumulation by MMs.
By heavy hitters, I mean the pros. The pros will be able to instantly analyze the news, the valuation of such news as it relates to stock and then they will trade accordingly. We will have momentum/daytraders that will flip during the run, but that should not impede us. You've seen the explosion of previous runs, despite these short/mid-term players.
The stock is just in flux right now because the status quo hasn't changed in a while. When the status quo changes, people will enter en masse.
No, this is incorrect.
This stock just lacks a catalyst atm. Once the catalyst is defined, we will see our move. The heavy hitters are simply waiting for a reason to smash the ask collectively so that the move takes off. That's why you see the MMs blocking to ask with 1.7M shares - they know that when this moves, they will become short on shares so they are walking the price down a bit to accumulate for the impending run. It's very obvious.
Look, here's what I perceive to be happening:
we're in a static state because there is no catalyst to move us. The heavy hitters are sitting on the sidelines, waiting for this catalyst. If ANYTHING new comes from the company that affects our value positively, we will be gone from these levels. Until then, the MMs seem to be doing us a favor by trading the stock in its current manner. This is an easy play from multiple standpoints:
- Buy long and accumulate at the bid
- Trade/flip a position so as to increase your position
- Take 5-10% flip profits at a time from the liquidity of this ticker
The MMs are setting this chart up brilliantly - the chart and the bid/ask spread are beginning to pinch in anticipation, volume has slowed on consolidation (no sell offs), etc. Technical indicators will shoot up - ONCE WE HAVE THE CATALYST FOR THE MOVE. It's useless to keep re-hashing things and blaming when it's clear what is going on.
I've profited from this play multiple times within the last week and now my position is as large as it ever has been. And it will continue to grow based on how easy it is to enhance such a position now. I suggest everyone simply does the same and just be patient. All eyes are on this stock - the heavy hitters loom...
This should be taking off soon - if someone ever took out AUTO and ETMM's combined 1.7mil ask around .04, we would SKYROCKET on a technical breakout. The problem is eating through almost $70,000 in stock on the ask...
FYI, I added to my position via bid support today
I agree - I've just been in stocks that pullback after 3 strong days. I hope I am wrong and that you profit more!