Feeding village children in Mindanao Philippines and watching my boy and girl grow up.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Amen, 1flaguy. I ignore those who tell me I am bashing. I have been right on with my call of caution on this particular move and I hope that I talked some people out of buying in the .003-.005 area because the weekly middle band had not been broken on a weekly closing basis. As far as trying to pick a bottom down here. Good luck to all, but technically this thing looks like a pos right now. I would not be buying here but rather wait for a break of the weekly middle band on the upside (not to sound like a broken record).
Well, I don't know about Derek's 3 chart gurus but the chart to me does not look good in any way shape or form. I am sure Derek will have something to say now about charts not being any good when there is high volume, but as I said last week, I believe we will be testing the lows and I will go to church today and light a candle that the lows hold. It looks to me like more of the same....hype of news.....company sells stock into the hype....stock makes new lows. This has been the pattern over the past few years and each time that news comes we all get suckered in again. I smell more cigar smoke from hell.
Six million shares now on the sell side. Derek, you wanted volume and you now have it, unfortunately it is on the sell side.
.0015 is a lower low than last week on 3 million shares. Doesn't look good. I am hoping the lows at .0008 holds. We'll see.
I agree and when it is a pinkie's balance sheet the prospects of getting a loan is dim so that leaves only the option of selling shares to raise capital. That is the unfortunate part about this venture. Unless something changes from a revenue perspective (i.e. more than one machine being utilized in the U.K.) the shares have an uphill battle to overcome the selling that the company must do (on any good news) to raise additional capital.
STG, you are a man of reason and I respect that. I do get a little frustrated with certain types of people...both here and on the Yahoo boards.
SGW, please excuse my "rants" but I get a bit annoyed by people such as derek who make outlandish statements with absolutely no knowledge of technical analysis. I respect people like TAKI who don't believe in TA alot more than I do someone who waffles back and forth when they don't know what they are talking about. So excuse my venting but mine wasn't whining.
And, uh, you didn't answer the question....how much $ do you have at stake on this? 1flaguy and I have posted how much money we have involved but you have ignored the question. Could it be you have a few hundred dollars at risk?
I don't think there are too many people on this board who are not very aware that dilution has been taking place despite what the CEO has been saying. It is, as you say Jimmy, obvious in the numbers.
LOL, you are like so many people I read on BB's. Charts look "GREAT" by three chartists....and when I say they don't look great you give me a hard time and now you are talking about fundamentals and "charts won't help you"....you crack me up.
Derek, do not fear if you have faith in your charts. Also am curious if you are a member of the 40 beaner club? ($40,000.00 worth of the stock) or if you have less capital committed to this venture.
Hope you are right. I'll let the chart dictate to me when I get a green light. Right now the yellow light is still on for me.
Amen brother. I said earlier that the smoke in hell is cigar smoke from pinkie CEO's.
Okay, 1flaguy you and I are about tied. I didn't think there was anyone as, uh, misguided (for lack of a better term) as I was on this one.
Hope you're right derek....we'll all make money....but right now the jury is still out for me. Again I am talking about when I ADD to position. It's not as if I am on the sidelines 100% here. I probably have one of the largest positions in this stock of anyone on this board (at least from a $ amount). So I am being cautious in regards to where I add to this position.
Thanks bagfull but I am loaded up pretty hefty right now. Been psyched out before on this baby by a head fake move.
As tempting as it is to jump in here, I am going to be disciplined and wait til the end of the week to see if we get a weekly close above .0024 above the 20 week ma (middle band). If we do then I will jump on. Since God has a sense of humor it will probably run to .01 by then. But I think I could live with that :)
Peace,
Tom
Hey TAKI, I consider you a very astute individual. Could you share with me how you view this as a good thing?
Thanks,
Tom
Yeah, there was someone who posted here saying R was not going to be selling any more shares. Same ol' same ol' BS from pinkie CEOs with no souls.
Hey Derek, don't ignore my messages. What are your chart Guru's saying about the chart now?
Posted by: derekwhiston
In reply to: d0lphint0m who wrote msg# 3813 Date:4/17/2008 12:58:49 AM
Post #of 3938
the charts show it look like someone from the company or someone with registered share is buying more stock. I WILL GET A BETTER CHART READER TO POST ON THIS BOARD.IMO
--------------------------------------------------------------------------------
dkw
Derek, I'd appreciate your posting what your three BETTER CHART READERS are saying now.
Peace,
Tom
Incidentally we closed below the 50 day moving average which was my (next to) last support area. There is a very minor uptrend line that is at .0015 but I think that is a moot point. It looks to me to be more of the same ol' same ol' as far as dilution of this stock is concerned. Hate to sound cynical but it sounds as if maybe some "news coming" was released to hype the stock up so that more dilution could occur. I feel badly for those who were hyped into it but I did try to warn folks at this board to wait until the 20 week moving average was broken on the upside, but I got bashed down for being a "bad technical analyst"...and three other technical analysts were called in (well, the patient died anyway doctors)....
Peace,
Tom
It is great to hear you speaking fundamentally bullish. I really don't know what to believe "fundamentally" when it comes to pinkies. I have found it difficult to decipher truth from b.s. from the pinkie CEO's. I think if we were to get a glimpse of Dante's hell we would see a bunch of pinkie CEO's (CEO's in general really, with the exception of perhaps Warren Buffet and a few) sitting down there.
Hope your fundamentals are right on, brother, in the meantime I still think we will test the lows. So you will probably have a chance to buy cheaper stock.
Peace,
Tom
I am not pointing a finger at you, but I have found that some people love technical analysis when it points to the entity going in the direction they want. But when the entity goes against them I have found some who then wish to throw technical analysis out the window. I will grant that in the case of an "act of God" you can not incorporate that into technical analysis (i.e. an earthquake or tsunami). But aside from that technical analysis does show a "picture" of what is "going on" with an entity. So it appears to me that this picture shows more selling then buying at the moment and the volume is rather impressive today on the downside. Don't know what that means, but as far as I am concerned it's not good.
Peace,
Tom
I certainly hope you are right from a fundamental perspective. But from a technical perspective there is really very little to be hopeful about here (except the hope that the 50 day ma holds). The fact that the MACD turned down yesterday is usually a precursor to lower prices. The OBV and ACC/DIST charts both being down (some chartists here had looked at the positive OBV as their hopes for a move up) are a negative. The middle band of the Bollinger band of the daily chart being broken is a negative. My hope is that the .001 area will hold but I would rather be a buyer once the weekly middle band of the Bollinger band is broken on the upside before loading the boat any further.
Unfortunately the support at .0020 which had been tested on 4/11, 4/14, and 4/18 was also broken today so my belief is that we will test the .0010 area again. There is still a glimmer of hope that the 50 day ma might hold at .00166 but with the OBV now turning down as well, I find it difficult to be optimistic about that, I am sad to say.
As for the 3 guru chartists that disagreed with me, I am used to that so I don't hold any ill feelings toward them. Technical analysis is an art not a science.
Peace,
Tom
Do your 3 chart gurus concur with my analysis or are they still sticking to the contention that the OBV going up is the answer?
"Cheapies" is a relative term. When I first got involved I thought .025 was a cheapie compared to .10. A year later .0020 is cheapie. Trying to pick a bottom with a stock that only has blip moves up every few months is a treacherous game that will take your money. A trend must start on the upside before one can make any money. I thought there was a chance of a trend starting but the stock could not close above the 20 week ma (middle band of the weekly). So I will go back into hibernation on this stock until the possibility arises (hopefully) sometime down the road. As TAKI pointed out, however, it is hurricane season soon so perhaps that will help.
Peace,
Tom
I hate to say it but things don't look very positive with today's action. The daily middle band was broken at .0021 so we should test the 50 day ma at .0016 and if that is broken then we should either test the lows or break to new lows. As I stated before the OBV going up in and of itself is nothing without the ACC/DIST chart going up with it and it had been in a free fall.
Unfortunately I have been involved with too many "hype" situations that "news is coming" and doesn't happen. In the other situations the "hype" was created so that "we" could buy while "others" sold. I am not suggesting that is the case now but I have been a victim of that in the past when I have ignored what I look at in charts.
Hope I am wrong for all our sakes.
Peace,
Tom
I understand what you are saying and unfortunately this is the case with many pinkies. It is the nature of the beast for companies with no other source of revenues and a poor rating to get funds from the sale of stock which dilutes and drives the shares lower. Whether one wishes to believe in technical analysis or not is up to the individual, but for me this chart is "close" to looking good (not great) for the first time since 2003. This stock has only had one good sustainable run in five years and that was from December 2002 to January 2004 from ten cents to 2.40 (24x). The rest of the blips have been a three to seven bagger which would put this in the .003 to .007 area on this run. Do your own dd but don't discount the charts and take a look at what has happened when the 20 week ma has been broken on the upside and the 10 week ma has confirmed it (it's only happened once in 2003). We have not as yet even been able to break above the 20 week ma on a weekly closing basis but "if and when" it happens there could be some nice upside for a sustainable period of time.
It will soon be "sh** or get off the pot" time for ECCI in my book. Each weekly rally stops at the weekly middle band of the Bollinger Band which is currently at .0025. I will be a buyer at a Friday closing above this .0025. The daily middle band Bollinger Band is at .0021 and we have been in a tight range between the two...it is interesting to watch. The only reason I fear the daily will be broken on the downside is because the MACD has turned negative today. I pray I am wrong about this, because as I have stated before, I have far too many shares at this juncture.
What's alot Flanders? I have 4 million and plan on having another 4 million if this can get above .003.
Agreed. Although interestingly enough I went to a TA meeting in Florida after 9/11 and one of the most respected TA's in the business (been around for over 50 years) said the charts of the market broke down a week before 9/11. His hypothesis was that big money in the world knew about 9/11 before the event. He went to the FBI with the information but they never followed up. I won't mention the man's name here but he is very respected among professional technical analysts. He is in his late 70's early 80's now.
One thing I have learned in 40 years of charting stocks is that nothing is written in stone. The chart of the Dow Jones and S&P looked like a head and shoulders formation and had may chartists waiting for the neckline to be broken on the downside. Today's action negates that despite all the negative news out there on the housing market and recession news being spouted each day.
The same is true of ECCI on a much smaller scale. I own beau coup shares in this company and want to be optimistic but I have also seen a stock formation i.e. uptrend line/moving averages change from positive to negative in a heartbeat which is why I try and remain cautious about jumping up and down about a "trend"....
Hopefully this is a consolidation but I certainly can not say that this is in an uptrend as yet no matter how many hits off the pipe I were to take. I can only say that I will be adding more to my already too large position once the weekly middle Bollinger band is broken.
If .0020 is broken (20 day ma and middle band of the daily Bollinger Band) then support is at the 50 day moving average .0015. If that is broken then any positives that I mentioned yesterday would be gone with the exception of the OBV chart that you are relying on.
ooohu, I can not reply to private messages as am not premium member but the answer is yes.
.0022 offer
He was done twenty minutes ago but the trades didn't print until now. I still think it's not good to be filled so easily on 2 million shares on the offer. It smells as if someone is unloading some stock. Don't know if it is the company or not. I would be a buyer on a breakout of the 20 week ma on a weekly closing basis as I have said a number of times.
Look again. 3 million shares.
Easy to buy the stock here at .0025. Someone I am close to bought 2 million shares at .0025 this morning with no problem. That isn't a good sign. I would have thought that a 2 million share order would bump the stock a little.