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SNYR Do the related party transactions concern you at all?
GOVX thank you
GOVX do you have a link to the source?
PYDS got an email promo on it earlier today, that may be the reason for the spike
RE Yahoo Finance, interestingly I tried accessing the site from an old version of Maxthon browser (version 1.6.3) that I still have on my computer. It went straight to the old site, and lightning fast! All the message boards and everything are still there
OT -- Yahoo Finance, yeah, I've been getting their new site off and on for several months. I've gone to the feedback page and told them how bad it is. Almost all the feedback is incredibly negative. Nobody likes it. But I bet they'll push it through at some point. I find it almost unusable.
Here's how my morning went, just to give an example. 2 winning trades, 4 losing trades, but I'm up nicely. I'll walk thru it as tho it's real time.
when we were trading messages this morning, the stock I was watching was ROSG. It hit new hi in premarket, so I checked news and it had some that seemed like should make the stock run. But I watched the level 2 action and when I found it, it was at 1.39 and more sells were coming in on the ask. Price kept lowering and lowering on the ask. That shouldn't be happening. I want to see those buy orders hitting the ask and the ask keeps moving up and up. So I didn't buy. But the news was good, so it was on watch for me at the open. premarket can be very erratic. I watched the open and it went down for a few minutes. If it's going to run it had to break the high of the day, which was 1.33. When it hit 1.34 I placed a buy limit order for 10k shares at 1.34 and got them all. My mental stop was 1.32 (Ironically very close to hypothetical prices I talked about earlier this morning).
So now I watch price action to get out. Unlike value microcaps, daytrading is all tickers and price action for me. I know nothing about the companies. I never try to force a stock to make a certain percentage for me or whatever. Stocks don't give a crap about me. They don't know I exist. I just watch the action. The trade was never in the red. ROSG moves up quickly to near 1.40, almost all green buys. Above 1.40, the upward movement slows down and more shares come in on the ask. It's still moving up, but it's up and down. I decide to take 1/2 my shares off and I get 1.41 for them +$340 (all figures are after commissions. (I like to scale out because if you think about it, I made 7 cents, so now the price can go 7 cents below my initial buy on the other half, and I still break even. that's the way I like to think of it). After a brief move down ROSG moves back up but starts showing weakness, so I take off the other half at $1.47, resulting in +$640.
I know ROSG is a past runner so I still keep it on watch. I'm constantly flipping between daily charts, and 1-,2-,3-,4-,5-minute charts. On pullbacks I tend to use a moving average to determine a buy point. I used 3-minute chart for ROSG. I try to see which one fits which stock on a given day. I don't know if this TA is all real or hoakum and self-delusion, but it's worked for me. I notice that ROSG volume from just the morning is hugely above average. Seems like those stocks can tend to move throughout the day. So I'll keep it on watch. In real-time, I set my buy points right at the moving average, but on pullbacks I tend to scale in. Smaller position this time cuz the inital burst is probably out of the stock. Buy orders for 2k at 1.39, 2k at 1.38, and 2k at 1.37, sell stop for all at 1.34. All the orders get executed so I've got 6k shares. The price starts to move up and as the moving average moves up, I move up my stop to 1.39, the stock flashes down and my sell stop gets excuted at 1.37 for all. Darn, but them's the breaks (it's referred to as slippage). So three losing trades that total about -$75 after commissions.
Then I moved on to SGY. I missed the initial breakout at 7.50, but it pulled back to under 7.50 and seemed weak. Then it picked up steam and I bought 2k at 7.49 with a 7.44 stop. It moved up for a few minutes but then turned right back around and I sold at 7.49 for just commission losses (another rule for me is I never let a winner turn into a loser). As I write, the stock is trading at 8.18 and I sold at almost the exact bottom. But that's okay. It really is okay.
Still keeping an eye on ROSG and SGY for the rest of the day, but it will have to be a really low-risk entry for me to try again. Keeping my eyes peeled for any others, but I'm probably done for the day unless it's a real eye-popper.
I'm up around $900 on the day with 2 winners and 4 losers. It's a decent day and you have to have good days to make up for the losing days.
I try to never let a green day turn into a red day.
Yeah, in reality I would count yourself as very lucky to have had the winning days first. What if you'd had the big loss on your first day? Yikes. I think the worst thing that can happen is to have gains right off the bat. It's like going to Vegas for the first time and winning a bunch. Worst possible thing cuz now you think it's easy. So in the big picture, I'd be glad you had a big losing day to give you the respect for how quickly it can evaporate. And be grateful you're not deeply in the hole right now.
Be humble. I still don't consider myself an expert and I know I could still lose all of my past gains.
Take it slow and best of luck to you! It's different for everyone.
I lost really big on two different trades when I first started, wiped out all the gains. I lost money the first year, but it felt like I was getting the hang of it, so I continued. Been profitable for 4 years after that. Decent money, but not huge. My main focus is still value microcaps. I'm profitable on a little more than 60% of my daytrades. That's the biggest thing to deal with: your own ego. I always wanted to be "right". I don't think that way any more. I have plenty of losing days, but they are not massive. I have losing weeks. Haven't had too many losing months, but occasionally.
A lot of it really is mental. Position sizing is very important too. I think you're using about the right size. You'll probly have a couple of weeks where you really kill it and want to triple your size becuz you're a genius!! haha, don't. Start small and stay small for about a year or so. Even now, I rarely take larger than a $20k position, and I don't truly risk but a small portion of that.
Examples: If I'm buying a breakout at $1.34, my stop might be $1.32. Most of my winning breakout buys are never in the red. They should be green and stay green, or it's likely to be a failed breakout. If it doesn't move instantly, I'll likely get out. So I have a time-stop on breakouts as well. Yep, you can count on having plenty of times where you sell at $1.32 and that is the absolute bottom and it runs to $1.78 by the end of the day. That's okay, there will be some of those. You can survive those. What you can't survive is not selling at $1.32, then averaging down at $1.18, then it finishes the day at $.89 And then you convince yourself to hang on until tomorrow becuz maybe it will come back, etc., etc. It just cascades. It's only numbers, it's not your ego. You'll be wrong a lot. Get used to it. It's not a math test in elementary school where you're trying to get 100% on the test. I think the biggest problem is our upbringing. Getting 60% on a test is almost failing. 60% winners in trading can be just fine. Don't try to be perfect.
One of my favorite lines is: to make money, you have to learn how to lose money.
I congratulate myself when I take a small loss and stick to my plan.
Hope some of that helps.
Hey Otc, I daytrade a fair amount and a suggestion I would make is to NEVER average down. It's very different than value microcaps. Many of these runner stocks will start down and never bounce. Just develop that mindset of I will never average down. Put a sticky on your computer screen and repeat it to yourself often.
I speak from experience. I traded sort of the same way you did when I first started, nearly everyone does. I think there's something in human nature that says, "if I buy more down here, it only needs to bounce a little and I'll break even or make money."
But these momentum runner stocks are often very scammy. Plus the key thing to remember is that word momentum. When the downward momentum starts, look out. I've found it's best to set a definite mental stop loss, before you even enter the trade, and follow it. Know where you're getting out before you ever get in. Take many small losses if you have to. You might lose $50 four different times on entries in the same stock before making $400. Nothing wrong with that. It's the averaging down that can wipe out months or years of gains.
Never, ever, ever add to a loser
STRI That just looks like the standard boiler-plate forward looking statement to me. It doesn't say they are planning in liquidating.
ZONX Thank you. Didn't see it on any news site yet.
ZONX Is there a link to the deal news?
MGT I wouldn't want McAfee managing my money, but I'd probably pay money to listen to him do a one-man show where he just tells his stories:
https://www.facebook.com/officialmcafee/posts/501765409979644
MGT Streetsweeper article is out:
http://thestreetsweeper.org/undersurveillance/MGT_Capital__Heading_Retail_Investors_To_The_Slaughterhouse
MGT I've traded it successfully a couple of times on the long side, but that was back when it was below $1. I figured McAfee's involvement could cause a $100m market cap just on his name. It's moved way further than I would have guessed. Yesterday, StreetSweeper said on their twitter feed that they have a report coming. That caused it to drop from $5 to $4. It's back up this morning, but for my blood it's too dangerous to play either long or short. Been burning shorts for days, even though it's almost certain to collapse at some point. But does it collapse from $5 or from $25? From the long side, I can't justify taking the risk.
Hey, at least you got a great exchange rate and didn't lose money!
Have great weekend, funnyG
MCQPF $4.90 Figure May be Canadian dollars.
I don't know for sure, but this is a Canadian company and it's quite possible the $4.90 amount is in Canadian dollars. I'd guess the daily list generally just reprints information and is not set up to calculate currency conversions. But I could be wrong.
Here's press release of the deal:
http://www.stockhouse.com/news/press-releases/2016/04/29/capstone-infrastructure-plan-of-arrangement-with-icon-infrastructure-reaches
Here's a conversion calculation of C$4.90 to $US:
https://www.google.com/search?q=convert+CAD+4.90+to+usd&ie=utf-8&oe=utf-8
SCKT SSK, you could always be right and the stock could move down, but I didn't quite understand your reasoning. Could you elaborate further?
If your worst Q1 estimate of .06 comes true, that would give the company ttm earnings of .37 for a stock trading at $3.30. Based on your expectations, even a reasonable p/e of 10 would suggest it's worth $3.70. Let's Forget any potential growth down the road, any possible uplisting in the future, any improvement in the balance sheet, forget all that. Just based on .06 in Q1 earnings, I don't quite understand why that would be viewed negatively.
Are you saying that you think investors will be so disappointed by the gross margin numbers that it will outweigh the earnings in their minds? TIA
Yeah, A-turd is confusing "scaling in" with "layering". I'd think they can understand that if you explain it to them. But maybe not.
Hweb, "Layering"
Here's a few links. The third one shows why A-turd is interested: when someone does this, the SEC fines the broker as well.
Layering is basically when someone places a bunch of orders with no intention of them being executed, solely to scare other people into buying or selling. So you place a bunch of buy orders to make it look like there's all this buying pressure, hoping people jump ahead of you to buy. Price manipulation -- spoofing orders.
A-turd probly just has some software that pulls up people who place a large order and then cancel it if it doesn't get executed. They see it as a possible manipulation, where as all of us traders understand you might want to scale into a position and that if you place an order and it's not executing on one security and you see a better opportunity elsewhere, you cancel and place your scale orders over on another stock. Nothing wrong with that. I'd explain this to them and hopefully you can get it resolved.
Links:
https://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171484972
https://www.sec.gov/news/pressrelease/2015-4.html
http://www.thinkadvisor.com/2014/04/04/sec-fines-traders-3m-for-spoofing-layering
PGNT (2.14) Nice Earnings and Book value
2015 .50
2014 (.26)
3013 (1.11)
http://www.otcmarkets.com/financialReportViewer?symbol=PGNT&id=152356
Thanks Kik.
Question on Pension Settlement
Will there be ongoing payments for the pension settlement?
I thought the answer was no, it seemed like a one-time settlement. But the latest 10-K and pr says ESCC will pay $10.5m over 12 years.
In Q3 2015 press release, the company said, "Operating expenses, except for a $3,620 charge for the settlement of the pension liabilities, were lower for the periods presented primarily due to decreased pension expense in the period. The charge for the settlement of the pension liabilities is not a recurring expense item."
But in both the latest press release and 10-K, it says, "the Company issued to the PBGC shares of its common stock held in treasury valued at $71 thousand and agreed to pay the PBGC a series of cash installments over twelve years totaling $10.5 million"
Can anyone clarify this?
Who Went To Jail?
Please fill us in what you know. Post a link or two, would like to read whatever you know. thx
CEO Has Another Full Time Job
I really liked the looks of Lightlake when I first looked at it. But the more I looked into the filings, the less I liked it. And now it seems purposely deceptive. Crystal worked in investment banking at Goldman Sachs. That probably scares me the most because it means he knows exactly what he's doing regarding the structure of the company, paying stock promoters, etc. He pays stock promoters to talk about how there's been no dilution, when the reality is there's dilution out the wazoo with all of it going to mgt.
I'm pretty sure it was in an SEC filing (I can't remember which one) that Crystal claimed he had two full time jobs. That doesn't sound real kosher when he's taking such a huge salary from Lightlake.
Here is the pr mentioning his hiring at another company (complete lack of disclosure in not mentioning Lightlake):
http://www.prnewswire.com/news-releases/imaginab-appoints-roger-crystal-md-as-vice-president-of-business-development-268865361.html
And here's his current bio as Chief Business Officer from their website (again, no mention that he's also currently CEO of Lightlake, that's not cool):
http://www.imaginab.com/about-us/management-team.php
Deceptive Management
Yeah, I made this point awhile back that in reality the share count is way higher than the story that management is paying stock promoters to tell. The cash coming in from milestone payments will barely pay off the accrued salaries that are due mgt because of the ridiculous salaries they are paying themselves.
Read the proxy and it gets even worse. The total share count is more like 7 million shares. But since management owns almost no shares currently (the CEO owns only 5,000 shares), mgt is creating preferred stock with this stated intention:
"Upon approval by the Board, the Company plans to issue some shares of such series of preferred stock to certain members of the Board for an amount and type of consideration that is unknown at this time. Although the amount of shares of preferred stock to be issued is unknown at this time, it is likely that the particular members of the Board will be issued enough shares with “super-majority” voting rights that the Company will be controlled by the particular members of the Board regardless of any future issuances of shares of common stock to other persons or entities."
The name of the company is also about to change to Opiant Pharmaceuticals, Inc.
POLXF Another Great Quarter
Company has now earned .33 for 9 months. Cash is growing, little debt. Trading under $3
http://finance.yahoo.com/news/polydex-pharmaceuticals-ltd-reports-3rd-143000779.html
POLXF Yet Another Monster Quarter
.33 earnings for 9 months
http://finance.yahoo.com/news/polydex-pharmaceuticals-ltd-reports-3rd-143000779.html
Thank you, Kik. That did work for me.
If anyone wants an even more direct link (so you don't have to go thru all the registration nonsense - I always think it's so foolish for companies to require registration to listen to a replay) here's a direct link to the mp3:
http://78449.choruscall.com/dataconf/productusers/fchs/media/fchs151117.mp3
KiK, is it possible to post a direct link to the conf call? For some reason, I can't access it on my machine. I get a "Problem loading page" error message
Not necessarily. There's no way to know what it is. Speculating about it just gets a life of its own. We have no way of knowing until/unless the company says something. There is no evidence of anything right now.
I contacted them as well and have received no response yet.
Completely absurd that Yahoo allows such blatant stock promotion to show up as "news" on yahoo finance.
Management Owns Almost No Shares
This is something that has always bothered me, and bothers me even more now. I went and checked again. Roger Crystal is the CEO and President. How many shares does he own?
5,000
That's it. They give themselves huge cash salaries and tons of free options that distort the true share structure, but they won't put up their own cash. They're willing to use shareholder money to pay a stock promoter in Puerto Rico to run articles on a Canadian website saying how undervalued the stock is, but mgt won't buy any shares themselves and the stock promoter's gonna sell as fast as he can.
In the SEC filings, there is absolutely zero transparency on the deals they have. Everything is redacted. Yet they'll pay a stock promoter to speculate wildly about how much the company will make.
The company has yet to make a dime.
The company has four employees and tons of cash keeps going to them.
This is starting to not sound right. I'm much more suspicious after the hype promo piece.
Shareholder Value Given Away
$620,000 of shareholder value given to a stock promoter.
$120k in cash, and $500k in stock (since the promoter used the most optimistic outcomes for the company, and acted like everything in the future has already happened, we'll do the same to them).
And this unsigned "research report" is written by some never heard of website based out of Puerto Rico. That's where are the top analysts are, right? There are no names on the site as to who is running it. The domain name contacts are all hidden from public view.
The promoter is telling us how wonderful the stock is and what a bargain it is, so he/she is buying, right? Nope. They clearly say they're gonna sell their shares as fast as they can.
Here's the exact verbiage from that stock promoter:
----
Legal Disclaimer: This research note has been prepared by One Equity Research, LLC ("One Equity") on behalf of Lightlake Therapeutics (“Lightlake” or the “Company”) as part of research coverage services. We have received one hundred thousand dollars as of the date of this report and expect to receive an additional twenty thousand dollars for ongoing coverage of the Company. We have also received ten thousand restricted shares of Lightlake and may receive an additional forty thousand restricted shares in the future. One Equity intends to sell its shares in the Company as soon as it is legally permissible to do so.
----
All their other "research reports" are pump and dump penny stocks that aren't making money.
This smells.
Totally agree. I found the report absurdly hypey and not realistic at all. If the shares are so undervalued, why is the company handing them out to a stock promotor? And why not use the cash for share buybacks? That would be a far better use of shareholder funds if all this money is about to come rolling in. Who cares if anyone on Wall Street knows about it, better that they don't if all this cash is about to come in.
This report actually made me more suspicious and I'm going to go back and look at everything again.
Yeah, good points. And I suppose we also have to keep in mind that this is not the type of business likely to attract a ton of Harvard MBAs as the club owners. It's one of those businesses that is a little rough around the edges, shall we say. It's probably fair to expect that maybe one-third of the license fees are going to be a little erratic. That's probably a conservative, but realistic way to look at this business.
It concerns me also that the numbers just kind of seem to be here, there, and everywhere. Seems like locations sort of just pay what they want. The license fees should be much more reliable. Suggests either the Scores nightclubs aren't that predictable as a business, or that, yeah, maybe something shifty bookkeeping is going on.