Feeding village children in Mindanao Philippines and watching my boy and girl grow up.
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Jimmy,
I read over your posts from the past year and I have to admire your timing. From the posts it appears that you got in last January and started getting "prudent" in March....talking about investors "tempering their enthusiasm". If your posts are any indication then you were taking some chips off the table near the top.
As for myself, I started getting involved in July near .03 because the RSI weekly was oversold (I thought). So when it broke support at .015 I waited for the next run up to .015 two months ago to try and get out because I thought that .015 was heavy resistance (and I still do) but I missed it, so I am stuck.
Trying to "guess" a bottom on this is so hard from a chartist's perspective because there is no support here. The only thing one can "hope for" is that a bottom comes as it did last year, around December 28th. But this is the first time the weekly RSI has been below 35 for such a loooooooooooooong period of time without any kind of rally toward at least 50.
The one "ray" of hope that I see from the chart is that if you connect the bottoms in 2004 and 2005 (three bottoms) you will see the trendline of the channel is right around here.
So here's hoping that you're intuition is as good as it was last year and good luck to you (as well as all of us).
Hey TAKI, I read at another board that the 10k states there are 32 shareholders in APDR. That means you and I represent 7% of all shareholders ;)
I made the acquaintance of someone at the Yahoo MB who is a major stockholder in EBOF (and fellow musician and friend of Willie)...who had some rather disparaging things to say about DM...
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_E/threadview?m=tm&bn=36548&tid=7652&mid=7664&tof=1&rt=2&frt=2&off=1
Thought I would post the link here for those interested.
Peace,
Tom
Does anyone trade through etrade? If so do you know why APDR is restricted from being bought online for these last three months....it must be bought by calling the trading desk which is a pain in the butt.
Last year the cane stocks started lifting in January and ECCI actually peaked in April/May.
Chevdawg, I didn't know you owned any ECCI. I have seen you at the APDR board along with TAKI.
You still holding TAKI? I must admit I never thought this stock would see this low and having heavy selling volume hit the bid at such oversold levels. Evidently the company has nothing going on and must raise cash to pay the electric bill. Very sad indeed.
Who was the massive seller of 6 million shares today? The company raising cash?
I had read somewhere that a buyback was authorized. Guess I am wrong. I think I read it at the APDR board about both EBOF and APDR. If so I hope the buyback goes better than with the 30 million share buyback for APDR (stock down 30% today on first day of authorized buyback, lol).
How many shares has the board authorized buying back?
You rode it to .20 and back without selling any? Wow, I think I would take some coins off the table at .20 this time around.
The stock is above the 10, 20 and 50 day ma at .0095. This is a positive although I fear verbalizing it because the day's not over yet.
After taking some nitro glycerine because I saw the chart showing a drop to .00125 a few minutes ago, I found out that it was an error. Paramedics just left. I will be fine.
I had really expected more of a run then from .005 to .015 because the weekly RSI stayed below 40 but it looks like this triple was it for this stock for the next few months. The question will now become whether the stock can hold the old low of .005 or if it will break it and make another leg down. Americanbulls.com had bought the stock at .006 based on candlestick formations and hadn't sold it at .015 so that also made me believe that there was a possibility of the stock going higher...but as I had said before, the major support at .015, since broken has now become major resistance. Wish I had cut my losses at that juncture but every time I put an order in to hit the bid they would lower the bid. It took no volume to drive the stock down.
It appears that the stock is doing what it did last November by giving (me) a buy signal having the 10 day moving average cross above the 20 day moving average only to fizzle out and head down for another two months before turning around in January and rallying through May.
Yes and nothing can be done about it unfortunately.
I just did. He's gone for the day (3pm EST)....so what else is new?
I have noticed that in the last few weeks that the volume has been huge to get it up to the .014-.015 area and absolutely no volume whatsoever to drive it back down to .008. I would say short selling perhaps by the mm's but who is doing the buying? What is necessary is what is always necessary from any company....n e w s....and this company is l a c k i n g in that department.
What is interesting, is if you pull up an hourly chart today on ECCI and look at the OBV (On Balance Volume) and ACC/Dist charts you will see a huge spike up on the buying this morning to .011 but a miniscule pullback on both charts on the selloff because of the lack of volume.
It sure appears like someone is accumulating the stock in the last two weeks but the lack of volume needed to drop this stock is absolutely amazing to me.
If you aren't done by now at .0085 then you need to get another broker.
I trade with Etrade and I call them when there is a problem. I don't know who your broker is but I would definitely call if you have had an order in at .0085. You should be done.
I agree with you totally on that issue. But I am still holding onto hope regarding the 10 day ma moving above the 20 day ma. The stock did manage to stay above the 20 day moving average (.0085) but is below the 10 and 50 day ma at .010. There is a defined downtrend channel of which the upper end is currently at .05 and the lower end is near .005. The weekly RSI is still at .35 which is and has been oversold for three months but that doesn't change the fact that it can stay oversold for a long time. The weekly RSI has already stayed near 30 much much longer than I thought it would.
Looks like the rally is over. The resistance at .015 was formidable. It's disappointing that support at .009 was taken out so easily. It looks like another test of the .005 area is in the cards :(
E trade shows afterhours close at .01. Strange.
Herbert is a crook. He drove the last company out of business also in a very short period of time.
There is massive selling at .015 yesterday and today....driving it down to the .009 level. The support is .009 and the resistance is .015. That's a 70% trading range for the MMs for as long as it lasts.
The weekly stochastics are still below 20 and the weekly RSI is still at .36 so it's all oversold even with a 300% run. The middle band of the Bollinger Band should provide support as well at .008 but I agree about the PR being lackluster to say the least.
I don't agree about resistance being gone. .015-.017 was support until the break two months ago to .005. Now .015-.017 is resistance. That is why it sold off to .009 yestday after testing .015 the day before. We are back to the .015 level again on good volume so we'll have to see if it will break it this time around.
My bad....you're right, I overlooked this post...sorry bout that...
I am curious why no one every posted this January article from Forbes magazine.....the stock was trading at .80 a share....It might have saved some folks some money if they read it....
______________________________
Willie Nelson sings the blues is what they're calling the performer's New York City concert in mid-January. It's a pretty good title, too, for the outlaw country singer's latest do-good effort: lending his name, along with those of Hollywood stars Morgan Freeman and Julia Roberts, to a tiny Dallas outfit called Earth Biofuels, which intends to build a national chain of filling stations dispensing a brand of enviro-friendly diesel it calls "Bio Willie."
But there's a chance that Willie's 6.5 million shares, recently valued at $11 million, won't even be worth their weight in canola oil. Reason: Earth Biofuels missed a Dec. 4 deadline for coming up with $80 million in financing to restart a long-shuttered ethanol plant south of New Orleans, the company's largest investment to date. At the very least it stands to lose its $5 million deposit, to say nothing of an additional $22 million it has put into the project. With just $41,609 in cash on the books as of Sept. 30, that's a pretty big hit. Chief Executive Dennis G. McLaughlin III, 41, insists that the project "remains an ongoing business opportunity" and that "no funds have been forfeited." But Earth director William O. Luckett says the company and its partners in the plant are in dispute over higher-than-expected construction costs. So far none of this has appeared in press releases or U.S. Securities & Exchange Commission filings.
Nor has McLaughlin's colorful background. He presided over the $100 million bankruptcy of the company he formed in 1993, Aurora Natural Gas. Duke Energy (nyse: DKE - news - people ) Trading sued him for fraud, saying he used shell companies to double-bill Duke to the tune of $26 million. Duke ultimately settled and gave McLaughlin a release. McLaughlin blames the bankruptcy on one of his employees and on Duke itself, for inflating gas prices in late 2000; as for his not disclosing it in Earth's SEC filings, he says he has "never been employed by a company when it filed [for bankruptcy]." Right. According to Earth's most recent 10-K, he was Aurora's chief from 1993 to 2001, the year it filed for bankruptcy.
After that meltdown McLaughlin made a brief stop at Ocean Resources, a penny stock outfit in the undersea salvage business, which he left in January 2005 over allegations he'd overcharged the company through his consultancy. (McLaughlin says the claims are unfounded and that Ocean owes him money.) Then he took over Powerball International, a dormant shell once in the hydrogen business, renamed it Apollo Resources and wound up back in court. He was sued by New Mexico oilman Donnie Hill, who claimed Apollo's main assets had been stolen from him. Hill, too, has since settled for an undisclosed amount.
Earth Biofuels was formed out of a clutter of shell companies that started with a Meridian, Miss. biodiesel refinery bought from the brother of director R. Bruce Blackwell for $7 million. It took on Willie Nelson as a director when it licensed his name for "Bio Willie" (he gets a royalty of a penny a gallon). Aided by a flood of press releases, Earth's market value rose from next to nothing in 2005 to a recent $344 million.
If you care to find them, 18 pages into Earth's financials are insider transactions, including $16,000 a month in rent for a truck stop and convenience store in Mississippi owned by director Blackwell, a series of trades between Earth Biodiesel and Apollo and a $160,000 investment in Blue Wireless, a penny stock venture McLaughlin controls. McLaughlin insists all transactions have been fair to Earth. But they aren't necessarily helping it reach its goal of opening ethanol refineries in North Carolina, Louisiana, Texas and Illinois.
Earth earned a slim 4.2% gross margin on $10.3 million in sales in the third quarter of 2006, spending almost half its revenue on administrative expenses. Business must pick up fast: Under terms with lenders who provided $53 million in financing last summer, Earth has to hit $30 million in earnings before interest, taxes and depreciation by year-end or come up with cash--or face a conversion of debt into stock that would dilute existing owners.
Tune up your guitar, Willie. But will it be "Once More With Feeling"--or "The Party's Over"?
I found this article on DM from January Forbes. Didn't see it posted at EBOF site or here. Seems like DM has the reverse Midas touch....I know this is old news but for anyone who hadn't read this....putting any credence on DM doesn't seem like a very smart road to go....
____________________________________________________________
Willie Nelson sings the blues is what they're calling the performer's New York City concert in mid-January. It's a pretty good title, too, for the outlaw country singer's latest do-good effort: lending his name, along with those of Hollywood stars Morgan Freeman and Julia Roberts, to a tiny Dallas outfit called Earth Biofuels, which intends to build a national chain of filling stations dispensing a brand of enviro-friendly diesel it calls "Bio Willie."
But there's a chance that Willie's 6.5 million shares, recently valued at $11 million, won't even be worth their weight in canola oil. Reason: Earth Biofuels missed a Dec. 4 deadline for coming up with $80 million in financing to restart a long-shuttered ethanol plant south of New Orleans, the company's largest investment to date. At the very least it stands to lose its $5 million deposit, to say nothing of an additional $22 million it has put into the project. With just $41,609 in cash on the books as of Sept. 30, that's a pretty big hit. Chief Executive Dennis G. McLaughlin III, 41, insists that the project "remains an ongoing business opportunity" and that "no funds have been forfeited." But Earth director William O. Luckett says the company and its partners in the plant are in dispute over higher-than-expected construction costs. So far none of this has appeared in press releases or U.S. Securities & Exchange Commission filings.
Nor has McLaughlin's colorful background. He presided over the $100 million bankruptcy of the company he formed in 1993, Aurora Natural Gas. Duke Energy (nyse: DKE - news - people ) Trading sued him for fraud, saying he used shell companies to double-bill Duke to the tune of $26 million. Duke ultimately settled and gave McLaughlin a release. McLaughlin blames the bankruptcy on one of his employees and on Duke itself, for inflating gas prices in late 2000; as for his not disclosing it in Earth's SEC filings, he says he has "never been employed by a company when it filed [for bankruptcy]." Right. According to Earth's most recent 10-K, he was Aurora's chief from 1993 to 2001, the year it filed for bankruptcy.
After that meltdown McLaughlin made a brief stop at Ocean Resources, a penny stock outfit in the undersea salvage business, which he left in January 2005 over allegations he'd overcharged the company through his consultancy. (McLaughlin says the claims are unfounded and that Ocean owes him money.) Then he took over Powerball International, a dormant shell once in the hydrogen business, renamed it Apollo Resources and wound up back in court. He was sued by New Mexico oilman Donnie Hill, who claimed Apollo's main assets had been stolen from him. Hill, too, has since settled for an undisclosed amount.
Earth Biofuels was formed out of a clutter of shell companies that started with a Meridian, Miss. biodiesel refinery bought from the brother of director R. Bruce Blackwell for $7 million. It took on Willie Nelson as a director when it licensed his name for "Bio Willie" (he gets a royalty of a penny a gallon). Aided by a flood of press releases, Earth's market value rose from next to nothing in 2005 to a recent $344 million.
If you care to find them, 18 pages into Earth's financials are insider transactions, including $16,000 a month in rent for a truck stop and convenience store in Mississippi owned by director Blackwell, a series of trades between Earth Biodiesel and Apollo and a $160,000 investment in Blue Wireless, a penny stock venture McLaughlin controls. McLaughlin insists all transactions have been fair to Earth. But they aren't necessarily helping it reach its goal of opening ethanol refineries in North Carolina, Louisiana, Texas and Illinois.
Earth earned a slim 4.2% gross margin on $10.3 million in sales in the third quarter of 2006, spending almost half its revenue on administrative expenses. Business must pick up fast: Under terms with lenders who provided $53 million in financing last summer, Earth has to hit $30 million in earnings before interest, taxes and depreciation by year-end or come up with cash--or face a conversion of debt into stock that would dilute existing owners.
Tune up your guitar, Willie. But will it be "Once More With Feeling"--or "The Party's Over"?
I can't believe it but Russ (should be in jail) Urban is touting this stock again. He recommended it in May at 1.50 (before the 1 for 1000 reverse split. Then wouldn't respond to emails after it plummeted to a penny. Then the reverse split. And NOW he says buy it (as if he never said to buy it in May and June). I reported this AH to the SEC in July but no response from them. I can't believe this AH is still in business. Unfrigginbelievable.
Well, I finally got the signal I was looking for with the 10 day moving average crossing above the 20 day moving average at .008 today.
Does anyone have any Dramamine?
I'll be happy as long as it's up on the day. At least it won't give a sell signal. Man the spread on this thing must be .002 between the bid and ask....market makers wet dream.
Sadly the 50 day ma proved to be formidable resistance. Reversal day today. Damn
Well, the 50 day ma resistance at .012 couldn't be broken on the first go around but hopefully the .009 area (which was resistance) will be support now and if the 10 day ma moves above the 20 day ma on Monday then I will feel more confident.
Downtrend line at .015. If it can get through there then I will have faith this baby has legs.
Taking out .012 was a biggie for me. Next thing I need to see if the 10 day ma move above the 20 day ma. Thank you God.
Breaking .004 on such heavy volume does not bode well for the stock...perhaps a r/s on the horizon.
From your lips to God's ears. The 50 day moving average is at .012 so getting above that level on a closing basis would be huge for me. I wouldn't add to my position, though, unless the 10 day (.06) ma moved above the 20 day ma (.08).
But I sure hope your gift of prophecy turns out to be true. Alot of stock traded between .008 and .01 some weeks back so getting through that would suggest that the buyers have control but getting above the .012 (not to be redundant) would be one of the biggies for me.