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The increase in call options is speculation.
Zion may, or may not find oil. Buying a call option allows you to cut your losses in case you're wrong (i.e. you don't have to exercise your call option if you don't want to). So you're only out however much the premium was to buy the option.
It's just people not wanting to physically put all their money on the line, but still wanting to not miss the huge surge in share price if Zion ends up posting some very good news next week.
But, will the news next week be good or bad? That is the ultimate question. The answer? Nobody knows. The only thing we know is that this stock is going to be an emotional roller coaster for traders next week. That much is for sure.
Will we see bright green, or bloody red? Only time will tell.
Tic toc........
Can you explain how you think the inWith corporation "buyout" was a legitimate circumstance then? How he can tout for months on end about a huge buyout surfacing and then, when the date for it FINALLY reaches its end.. and the stock surges in value to over $0.04 a share .... he avoids mentioning the buyout plan altogether (implying it failed) and goes on to mention how next week there will be a brand new article that promotes how EPGL SHOULD be worth $0.10 a share and allows the stock to slink back into the abyss where it was before ...
Consider InWith Corporationn was founded only a month before he started talking about the buyout, InWith Corporation was "powered by EPGL" (shown on InWith corporations site), one of the board members from InWith was from EPGL itself, the date for revealing the members of InWith was scheduled for February but investors didn't get information on that until well over a month later, and then consider the fact how is ANYBODY... literally ANYONE expected to believe this company is worth half a billion dollars at this stage...? For 3 patents and some IP that's "beyond it's time" ?
He's got you where he wants you, dangling before the carrot he places in front of you, and when that carrot ends up shriveling up and rotting, he directs your attention to a brand new carrot on a stick to entice your attention away from the failed promises he so wants you to believe so he can make money off of you..
Michael Hayes is a fraud and needs to go to prison. His patents aren't worth crap, and he knows it. The "IP" he so vehemently touts, isn't worth anything either. That's why no real corporation is stepping up to buy it.
Just because a few big corporations are interested in "first rights" to the technology, does not mean they are obligated to do anything with them. Just means that the big guys can decide to look into and buy first first if he does end up doing something worthwhile. Which won't happen because he's already making bank on the people foolish enough to pump his own stock up for him.
Sorry, I'm truly trying to help you here. I have no position in this stock and really just want to get you to see what he's doing to you.
95% of penny stocks are scams and fraud.
This is no different. Michael belongs behind bars...
I'm just surprised Hayes hasn't been arrested yet.
How long does it take for a 'company' like EPGL to be investigated and convicted of fraud?
Red day tomorrow. Calling it now.
Stock should pop up at least a bit Monday. It's at an area of support and today formed a dragonfly doji. Pretty bullish signal for at least the short-term.
Yoda I respect your opinion, I think you have good insight when it comes to this sort of thing.
I wouldn't be surprised if they came out with a positive news release next week. I just HIGHLY doubt it will be something substantial for the long-term. At least, I don't want to trade hoping that it will be. It's too risky. If anything it will be something that lasts perhaps 2-3 days of hype followed by red bars as people realize it's not what they think it is.
And if the news next week isn't positive - they have nothing to report? What kind of things other than the find of hydrocarbons can they say in a positive news release at this point? It has to be that they found some oil or people won't be happy.
Well, what's your logic then? Why is it laughable?
Fundamentally, the management doesn't seem competent at all. A lot of their justification in drilling this hole comes from "prayer". They even have a picture of themselves standing over the drilling site praying for oil. On a technical basis, the fact the stock is being rejected by the 20 EMA on the daily is concerning. The stock is just selling off slowly without any form of buying pressure. How is this bullish ? The stock has formed and completed a double top pattern on the daily chart as well, and that signals a huge "GET OUT" signal to any professional trader...
I think the only thing that is laughable here is the management's ability to actually find oil. So fundamentally, this stock is a disaster. If you trade technically, you're already out of the stock because of the double-top and selling pressure outweigh the buying.
I guess the only reason one would hold is if you believe in God and prayer. Good luck with that
I suggest reading the Seeking Alpha article if you haven't already.
At first, I didn't read the article because the author was being compensated for his time making it + he had short position which means he profits if it moves down (which the article intended to do).
Despite that, I took the time to read through the authors analysis. I assure you, if you take the time to read through it too and understand what he's saying, you wouldn't hold a position either. It's quite clear ZN doesn't seem to be very competent and this stock is likely a pump and dump scam. ZN has no further incentive to pump the stock up past the DSPP ending date, since they will no longer be making any money from investors (which will become clear when they eventually find no oil next week). ZN relies on 2-D surface imaging (the technology of which is over 30 years old) and "prayer" to find oil, not 3-D surface imaging which is the industry standard nowadays to find oil. That fact alone should be enough of a clue that the management is a bunch of morons. But there's a ton of other information included in the article that really shows that this company is a scam.
I exited my full position a few days ago. I do not believe this stock has any further momentum left in it, and those that hold are only holding on for the blind hope that they will strike oil (= not a smart way to trade, nor is it very likely).
If you haven't already, read through the SA article here, and THEN decide what you want to do with your shares:
https://seekingalpha.com/article/4090576-zion-oil-and-gas-drilling-dry-holes-til-0-will-bankruptcy-court-extreme-dilution-get-first
Edit: I don't do short-selling or options. I only trade penny stocks going long, as I don't have a margin account. So I'm not trying to manipulate the stock to move downward. Just giving you my thoughts on this stock and why this thing is most likely headed down from here.
Just curious, how do the size of the pipes they used in this particular venture different from the size of the pipes they used in prior drilling holes from years past? Is there a significant difference?
Today was a very odd trading day.
I think there is a lot of uncertainty in the market, people are either very greedy or very scared.
Only time will tell which way this stock will go.
Ahh be careful, I wouldn't be too sure that's what that necessarily means...
I scaled down at price levels at the 3.86, 3.85, and 3.77. I definitely saw the gap down as a good area for an entry. (3.75-3.80 area as strong support, as you said prior)
Going into the next update the stock will most likely rise slowly on the 20 EMA support on the daily. If there's anything related to oil we find... it's gonna be good.
It all comes down to patience now.
Rebought this morning. We'll see how the news updates in the near future affects this thing
I see, thank you for this. So I can infer that it's likely that oil will be detected long before we reach the 15,000 foot well depth if there is any oil to be found.
Let me clarify, I believe that putting in ALL of your money into this stock and hoping that they will strike oil (all or nothing type of deal), is the wrong way to go about making money here.
I think since you buy on dips, and sell at highs, and then convert some of that into profit and some into "free shares" to see if the oil drilling works out, is a fine strategy.
Next update is sometime next week i presume. Even if there isn't a huge oil find, I agree with you in that if they mention any sort of crude oil find in the rock samples there will be some pretty big gains to be made.
It's true, 0% is probably not an accurate estimate.
However, I do believe that traders should trade with the assumption that ZN will not find any oil. It's far too risky to play this stock on that hope, seeing as how the chances of a large oil find are really slim (How many dry holes are there compared to ones where they do find commercial quantities of oil?).
Buying this stock and telling yourself "This is it. This is the next big oil stock. I know this because Jesus' scripture in the holy bible says so!"
..... seriously? Penny stock trading is about having a plan and trading without any type of emotion. The moment you start buying the promises and forward-looking statements that companies make in this market is the day you become the pig. And in penny stock trading, bulls make money, bears make money, and pigs get slaughtered.
Don't get me wrong, i think that there is money to be made on this stock. I just think blindly holding on and hoping, wishing that this company will deliver results is probably the worst way to go about doing so.
$10 this year huh? From a company that has failed to find commercial-quantities of oil in the past 4 drilling ventures and has its own CEO selling off the maximum allowable shares of the company before there's even word about what they will find at the drilling site? I wonder what he's expecting they'll find...
Basing your trading decisions on faith rather than logic and strategic planning in the penny stock market? Good luck with that my friend ...
I'm out of this stock. Turned a decent profit on this several times.
However, from a technical perspective, it looks as though ZN's massive run is in question. The stock has broken down through an important lower trend-line and selling volume is increasing on down days. Not really a good sign of a healthy trend.
EPGL is worth $1 billion dollars easily...
if you add $999,999,999.99 to it's overall value.
Hey, good to see you too Nostalgia.
Oh i see, thank you !
I really should keep the big cap stocks of the important sectors on my watchlist as well. I think that could come in handy.
I bought SHOP at $100.00 today on the breakout through resistance but it turned against me quite quickly. If i had AAPL on my watchlist I could have maybe seen this coming. My own dumb fault.
Huh, whatever happened to this stock going past 10 cents a share?
It's almost as if Michael straight up lied to his investors about the buyout or something and then refuses to talk about it.
"Wait, that's not fair!! He said to just wait for more info about the buyout which will occur anyday now! I-I even met Michael in person!!! He's such a genuine, great guy, he wouldn't lie to me!!!"
No, no, of course not. He's not a pathological liar out for your money or anything. Na. He truly cares about each and every one of you, and really wants the best for you and your money.
(lol)
Why did this fall so hard today? Was it merely a rejection from resistance at the $100.00 level? Or is this news related.
Hey, thanks for the help man.
It's funny, I actually have been using something very similar to this indicator on my stock screener. A part of my screener has this:
set{1yrlow, low 52 week low}
set{1yrhigh, high 52 week high}
set{yeardiff, 1yrhigh - 1yrlow}
set{currdiff, Close - 1yrlow}
set{ratio, currdiff / yeardiff}
set{R, ratio*100}
R < 25
It's to sort out stocks that near the lows for the year, to try and find some that are in "basing" patterns. I didn't know there was an indicator that did (nearly?) the same thing. I think it's the stochastic one that measures from the period low, but that's just the inverse of the %R.
Anyway, I wanted to ask - How do you know that Mikey and his lawyers are the people behind the bid/ask at WDCO and CDEL ? Is it speculation from watching the stock for so long, or are those two ECNs exclusive to insider people ?
Would you mind sharing the parameters/indicators you use to determine overbought/oversold conditions? I remember reading through your comments from months prior that you utilize the ADX and ATR to determine such a thing, but I'd be more interested in the parameters for them.
The reason I ask is because usually indicators aren't useful for penny stocks. Or at least, from what I can tell (I only use EMA's and volume). The stock is highly illiquid and it's not always easy to determine when a stock will bounce from it's sleeping state.
Edit: Also, if someone can tell me how to get more than 3 posts/day that would be nice.
You really shouldn't be surprised. The things that he promises are ridiculous. Just, ridiculous. Impossible. I can't stress that enough. It's so impossible the things he promises, it's hard to believe anyone actually listens to him. It's why I didn't wait to dump my position.
He's a scammer out for your money. Period. He doesn't care about any of his investors or anybody that supports his "company." He wants your money. Money. Not your trust. He's not a good man.
Stock Barber is the only logical person on this entire message board for EPGL. You should listen to him more often.
P.S. I can't send private replies back, but I wanted to say thank you again Stock Barber, I owe you one.
That is true. He could know something that I don't about the company, trying to get shares at a cheaper price.
But after reading through this forum, I'm not willing to take the chance and wait for the 'update'. It's highly, HIGHLY un-probable this buyout will occur.
But you know, to each their own. Good luck
Enlighten me. I think I have a pretty clear idea of what this is
Just wanted to say thank you to Stock Barber for his warnings about the stock, I got out while I could in the last couple days shortly after buying in. There's just no way that the events that are promised could possibly be true.
It makes absolutely no sense whatsoever that a newly found company could raise $500m for a shitty penny stock that has only 3 patents pending, no prototype built after years, and no licensing agreements with any other company. What??? Whaaaaat? How could you believe a company that has no working device be worth half a billion dollars? There are startup companies that are worth MUCH less than $500m that have working designs. That fact alone is already enough proof to realize this is a blatant lie.
The company is clearly not transparent about a lot of the inner workings of the company either. It omits a lot of important facts (relating to the TA and the financials of the company, like the fact the R&D of the company is literally $0). And how many shares of the company belong to the owners still? How do we know they're not selling into masses and diluting the stock? They keep it secret because they don't want you to know they're screwing you.
If that's not enough, the fact that Michael Hayes has a TRACK RECORD of letting down investors time and again furthers the notion that he's a scammer and liar (the $100m/year promise from years back, the $1.2b Coopervision promise, and now the 9.8 cent per share buyout promise today).
I was merely trading on the technicals of the Stock prior to visiting this forum, but I'm glad I stumbled upon this first.
Stock Barber, thank you thank you for the advice and help. I'm really glad I got out when I did because I know tomorrow will not be pretty. I don't need to know what the update is going to be tonight to know that it's going to be a bunch of bullshit