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Yes, more covering.
The covering was in stages as the price sunk lower and lower from about 0.12 down. So, as the price keeps rising to the next level, I believe the shorts will be covering who had shorted before. The spikes I have been noting all along fit the size of trades now.
Tekterra made a comment that institutions might be trying to run the price up to sell off when the RS hits. They will have to unload at some time.
That coupled with the shorts seems to be a great time to be in for investors.
James
Don't think so.
What we are seeing could be the beginning of covering.
James
This is NOT a time to be out.
I have not seen this kind of buying pressure in months. There is no apparent shorting going on (though there always is with this stock).
James
Huge blocks of shares being scooped up.
I am seeing blocks of 550,000 and 475,000 and 310,000 just to name a few. Something sure is happening.
James
Whatever happened to your BK prediction?
You said for certain it would happen last week. Now we are in the middle of the next week and trading continues as normal. In fact, the company financially is in better condition than a week and a half ago. So much for promises and insider information.
James
Standing in line to buy ...
... on the bid. It's what is keeping this price above 0.052. On rare occasion, there is a buy at the ask.
James
"Go ahead, sell your shares."
Nearly all the shares traded the first minutes of the session have been sells. Good. "Be gone with you." Perhaps the traders coming on will see the timeliness of buying at rock bottom prices before a move up.
James
Another day tomorrow.
There was some upward pressure two distinct times today. I am hoping that will continue for the next few days until we find out what is going on with a new partner or a buyout.
James
No.
Two big transactions at 11:27 and 11:28. It seems the pricing is artificially being raised right now. Almost too obvious.
James
LVII
James
Someone shorted about 1.1M shares and the buyer pick up more than 1.5M shares, driving the price up. From the information I have, the 1.5M shares traded was not all one buyer.
But now the short rally has pulled back to 0.057.
James
I find nothing to cause this.
Any clue?
James
Yes, that is one I left out Go Gold.
That is probably the strongest if only reason to buy in by anticipating a buyout. After what I have read, I think a partner is more likely than a buyout especially in light of the financial difficulties of Delcath. Let's face it, Delcath would have to sell for a lower price than 6 months ago with increased financial obligations and less resources to deal with it. I once quoted a news announcement that stated the BOD's interest in a partner.
But no questions, if a partner came by shortly in would certainly propel the stock price up under the right conditions and would force a short squeeze which so many who have not sold off have longed for.
Both "buyout" and "partner" have been rung through the ringer that the outsider wondering if he or she should invest may not do so because of these two potentials that have been overworked.
This week will layout what investors think of the future of this company. Good luck to you, Go Gold. I am watching DCTH each day and will not hesitate to get back in if the conditions are right.
James
Until Delcath has something to offer, "Why buy in?"
-Dilution is ahead. THAT IS A MAJOR KILLER for trading sentiment!
-A chump exchange (OTCQB) is the current listing of DCTH from NASDAQ.
-The convertible notes have now prevented the company from filing for BK for now. A plus? Only for the BOD who blew it for the 3rd time.
-The shorts and naked shorts will likely be out in droves to drive this stock further down, and not just at the opening of the regular session.
-No imminent short squeeze is on the horizon as once thought and earnestly hoped for.
So why buy in? With the hope of a quick 10-15% gain before it pulls back again, like Friday? True, the future trials of Chemostat are enticing but their test results and their effects on the value of the company are too distant.
Simpson and the BOD have mismanaged this company out of being a good investment in common share trading. Obviously, that many institutions have kept their positions indicates there is some distant future to the company. But as a trader, Simpson and the BOD have killed a positive sentiment to move new investors into buying in.
So, as I began, "Why buy in?" There no longer is a reason and I believe you will see that in the trading activities this week, unfortunately. I truly wish I could write something different.
James
You hope.
Some on this board bought in @ 0.70. A lot of good that does for them now. At this point, nothing is safe. If Friday news was good, the stock never should have dropped 20%. 0.05 is no longer a safe level to enter as it once was. But, good luck to you.
James
No sir.
I am out but watching it closely for re-entry. I read mixed messages from this being the bottom and now it will get brighter with the cat out of the baf to BK soon. At this point in my investing, I will be looking to catch it on the fly going up. A downward trend I want no part of and I have never done well with bottom feeding.
James
Healthy accumulation
As can be seen by this link,
https://finance.yahoo.com/chart/NETE#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%2BKAjCAoQywyMCwyLG1hLHkpIiwiZGlzcGxheSI6IuKAjEJvbGxpbmdlciBCYW5kc%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%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
NETE is NOT overbought with the highest RSI value yesterday at 73%. In addition, the Bollinger Bands @ 2 sigma indicate the pricing never bumped or exceeded the upper band. This is significant. This means there is ample margin for much more buying on Monday.
In after hours, after a big selloff from thin pricing and trading, the stock recovered and closed basically at day high.
On Sept 13 (most here recall), the stock traded 14M shares after more than doubling in price (0.28 to 0.60). Yesterday, the stock traded less than half that volume (6.7M shares) and only went up 44%.
This all tells me that this stock has a lot more legs to move up. The opening is not the time to sell. Depending on the RSI and Bollinger Band indicators (whether oversold or not and bumping the upper band), late Monday or Tuesday could be the time for a pullback for maximum profits, but not before.
With a float of only 14M shares, more intense buying pressure could literally cause this stock to spike early in the regular session.
James
Sam - thanks for the confirmation.
You and I talked about getting out at 0.80. I did and I am glad, especially after the price fell off the cliff today. Thanks.
James
Have we hit bottom?
Is this it? I read the post that said one of you picked up a bunch at 0.05. But, could that be in jeopardy? What's your guess?
James
Thanks, that makes sense.
James
Glad I got out a couple of days ago.
Not totally true about premarket
Two days ago I saw several trades go through after 9:05 for some unexplained reason.
James
Reverse split approval, now.
Why can they approve a reverse split now but not before? Was it because the stock was listed under NASDAQ and so under Delaware law? And now that it is an OTC stock it no longer is under those constraints so the BOD can approve a reverse split? Is that it?
If so, that certainly explains the rush to delisting.
James
It would be interesting to know what's driving it up.
I don't see anything.
James
I think that is part of the scenario.
I think if the price gets below 0.10 (let's say), the shorts detect a downward trend and hit it. From my studies of their activity, they have hit it hard the first hour or so but I believe there are many more smaller lots of short trades through the day. This stock seems to cry out for shorts. They are likely shorting it until it reaches the 0.05-0.06 range and then cover.
James
Up down up down
Swings in price by trading from a wide spread between bid and ask creates relatively big swings in the price. However, the ask persists around 0.0750 or higher (like right now). Holding is good while waiting for an upswing.
James
Heavy shorting going on right now.
A 450K short spike followed by a 250K short spike and, as I am typing, a 275K short spike have driven the price of the stock down to 0.0721. The day of covering the longs wait for is still a ways away, apparently.
The shorting doesn't so much hurt the price of the stock, but kills any momentum whether in holding the price or moving it up. That's what really stinks about the shorts.
James
The ask price continues to return to 0.0750.
To me, for light volume, this is significant in the sense the price is holding. Though the stats show there is slightly more volume in buying than selling,
https://ih.advfn.com/stock-market/USOTC/bitcoin-services-inc-BTSC/trades
the number of buyers far outweighs the number of sellers. So the price is holding within the first hour and could be setting the stage for an uptrend later this morning as more buyers invest.
James
As I was typing, I noticed we hit a new day high (0.0784) and now the ask has moved up to 0.076.
Yes, and about Tesla.
I heard a segment where the CEO of GM evaluated the future of Tesla and believed the company would go bankrupt. One of the keys of failure for the business was making no profit on their high-end lines. He would say you should not use Tesla as an illustration of success because failure awaits it.
James
Premarket on OTCXB.
I was not aware there was premarket trading recently. On one stock I had bought, the OTCBB traded at 9:25. Yesterday, trades of DCTH were made about 9:05. I have not tried that before but if I feel the need I may do so in the future and see if the buy or sell goes through before 9:30.
James
It could be related to buyout or partnership.
If the BOD can lower the price per share and by it leverage a low selling price, then they have reached their intent. Some companies purhase others or partner with others through straight cash purchase. But others do it through share price. The lower the share price offered for a selling price the less sacrifice it would take a company to buy Delcath.
For instance, with about 500M outstanding shares with Delcath, if they sold it at $0.1/share than it would cost a buyer $50M. But, if Delcath could drive the price down to $0.05/share, the price would only be $25M, a far more attractive offer. And if it was a partnership 50/50, it would cost the partner $12.5M. The selling company might also require additional cash.
James
Your link is 2 months old - old news
James
I called Ameritrade last night.
They were supposed to work on the problem last night and have it fixed this morning. I went to Trade Architect a couple of days ago and that did nothing for me. I work Think or Swim with the taskbar below that shows bid/ask/volume/price, all live data.
James
Same problem as last week.
I have already talked to someone there. He promised to have it fixed by yesterday at the opening. Never happened. I will give them a call tonight and complain.
James
Associate/strategic partner in view for Delcath
This in about 45 minutes ago.
http://tradersnewssource.com/delcath/
A significant piece to investors is this,
"Notwithstanding these developments, Delcath’s oncology platform continues to remain robust and therefore it should not have troubles picking up an associate/strategic partner, with which it can push forward its product platform."
Looking like blue skies ahead. Trials moving forward, success in marketing Chemostat in Germany and a likely partner ahead give shareholders somethig to be excited about.
James
Latest news @ 8:00
http://tradersnewssource.com/delcath/
A significant piece to investors is this,
"Notwithstanding these developments, Delcath’s oncology platform continues to remain robust and therefore it should not have troubles picking up an associate/strategic partner, with which it can push forward its product platform."
There is a bright, future outlook to a company some may think is heading to bankruptcy, which there are no indications it is. The following statement has been issued,
"For rest of 2017, the company plans to focus on advancing its clinical programs of its innovative Melphalan/HDS, as well as to push commercialization efforts for CHEMOSAT in Europe. DCTH continues its focus on the clinical trials that comprise Clinical Development Program (CDP). Its CDP consists of its FOCUS Phase 3 clinical trial of Melphalan/HDS in hepatic dominant OM (the FOCUS trial) and its intrahepatic cholangiocarcinoma (ICC) pivotal trial, which is scheduled to initiate enrollment by the end of 2017.
To be looking at a company in this position, with the dust settled and clarity on way forward, Delcath is in a very attractive position. Furthermore, Delcath’s development program continues to looks promising. Analysts covering the stock are projecting that the stock will reach $4 within the next 52-weeks[color=red][/color]."
That is quite an upbeat note! Blue skies are ahead for Delcath. Watch traders pick up on this news!
James
BK doesn't make sense with the events of the last week.
As I have tried to carefully outline, the announcements, accelerated delisting from the NASDAQ which Simpson initiated and the sudden price declines of 50% can be explained through a buyout or merger. If a BK was imminent, there would be no need for Simpson to accelerate delistment. And she spent considerable time and effort to negotiate this with NASDAQ and OTC exchanges.
James
Point well-illustrated.
That is one scenario.
James
You are right. It could be a flat purchase price offer for a company. But over the years I have heard of numerous times where a company paid a certain price per share. It may have been part of the price for the company and the rest a flat dollar figure. Or, it could have been the full price for the company. All three scenarios could describe the method of selling a company: 1) flat offer in $$; 2) price per share or 3) both #1 and #2.
In light of the size of the company (43 employees and annual revenue) and the recent drive down of the stock price, I believe it is #2. But it could be #3 option. At this point, I could go with #2 or #3 option.
James
Hopefully, not very long.
This week could be a telling week. At this point, from what I have written, it is better to be IN than OUT of this stock right now. Only if there was a threat of BK would it be wise to be out. But the maneuvers Simpson and the BOD has made do not picture a BK scenario. Time would not matter in completing SEC forms, making announcements with a BK. In fact, everything would be dragged out as far as possible. Instead, everything is rushed and urgency is of utmost importance. Something besides a BK is the agenda from all the recent signs and it will likely be good for the shareholders.
James
Toro bravo
The lower the price per share to buy the company from an interested party, the more attractive the sale. The outstanding shares of Delcath is 499M. At 0.07/share, the cost would be a little less than $35M (499M x 0.07). To be a 50/50 partner, it would cost $17.5M.
If on the other hand, Delcath sold the company at 0.14/sh like a couple of months ago it was priced, then the partner would have to come up with $35M instead of $17.5M just to be a 50/50 partner.
James