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There won't be any more news from Obama, unless his proposal to give money to police gets shut down (in which case this will drop HARD). Unless obama says "we will buy millions of cameras from Digital Ally" this run is done.
$500 dollars sounds about right LOL
First of all, this is a penny stock. The company has a market cap of $60M!! That is tiny. Before the run it was ~$5M or so? That is nothing!
You are exactly right
best of luck, I would love to get some shares to short at $23. Hard time finding shares available to short on etrade, I even called them and they said they were looking for shares to loan but couldn't find any. I think this tanks on monday and never recovers though, as the public stops caring about this issue. In the future some companies might profit from cops wearing cameras, like TASR, which I am long to hedge my short position here. DGLY might sell a few cameras, but not nearly enough to justify the current stock price.
what are you talking about shorts being desperate? A stock doesn't go down because shorts are desperate...
What news is expected?? The news already happened..
Doubt it is the shorts, i have been trying to short all day yesterday and today. My broker (etrade) didn't have any shares available to short so they wouldn't execute my older. It is the day traders and longs selling out before the weekend. The hype will be gone by monday, the news won't care about this anymore and the stock will tank. Best to sell monday morning imo. Glta
Guess you don't like making money!
Still no shares available to short on etrade :(
Shorts enable prices to reach equilibrium and allow for more efficient markets. There were 18M shares traded because day traders are quickly flipping this stock, no one wants to hold for more than an hour as it is super risky. The "greater fool theory" is in play here, this is a house of cards and the longs will be left holding the bag. Glta
Save your money and buy an index fund like SPY or better yet EEM. Glty.
To everyone else, when novice investors think a stock is going to the moon that is a sign that you need to get out! Glta.
Haha very easy to get out! Way harder to get in on the short side as there are no shares available to short. Demand was so high to short (for very good reasons) that there is literally no supply left!
5.8M shares traded today, almost double the O/S.. Day traders made a killing and handed the bag off to the pie in the sky pipe dreamers. I tried to short more but etrade couldnt find any available shares. Will try again tomorrow morning. Hedging this short with a long in TASR. Glta
3M shares as of last 10-Q, 10-Q before that 2.7M, 10-Q before that 2.3M... This is dilution.
What is your average price here?
It says that an insider converted his stock options into shares of stock. He was able to buy at $4.80/share.
I would expect another statement soon to show that he sold those shares, but I could be wrong.
Their product is $800. Taser's is $400.
I guess you don't want me to show you how the company is subpar because you know they have been losing money quarter over quarter.
This is going to $5, not $500 lol. 20% of the shares outstanding are sold short for a reason. This is up on hype and that's it. Subpar product and subpar company compared to the competition.
I bought puts yesterday, seems like I made the right call. Holding through earnings, I'm expecting a blood bath!!
Glta
Great Response. I am worried about government taxing the cryptocurrencies. Also, I am worried that the only difference between the cryptocurrencies will be "easy of use or acceptability." And since it easy to trade for a currency that has better ease of use, I don't expect the exchange rates for the digital currencies to differ much from simply the ratio of the number of outstanding units. And if altcurrencies continue to be created, the number of units goes to infinity, just like our current fiat money printing system...
I am worried about the number of alternative cryptocurrencies that can be created. The cool part about bitcoin is that there will be only a finite number of them created. But if litecoin, feathercoin, dogecoin, etc etc all have finite units, and they are all secure, what is stopping us from creating an infinite number of coins? will bitcoin really stand out? or will the altcoins kill the whole cryptocurrency movement?
Other than overstock.com I haven't been keeping up with it. But I do know that a lamborgini dealership in newport beach accepted them
I started a few weeks ago buying some BTC @ ~520. Since then I have been trading LTC with bitfinex just for fun (but it hasn't been much fun lately, where is the volume/volatility??)
No, I didn't see the news about halting currencies. I dont trade forex.
I agree, but I forecast another drop first
If this move in gold had happened 2 weeks ago NUGT would have been up 10%. Not sure what is going on but I am very far from an expert in the mining business so that is to be expected. What I do know is that the behavior of gold/miners seems to have changed this week, and that change hasn't been profitable for me so I'm out.
It could rally tomorrow and it wouldn't surprise me. But with equities going down I'd like to free up some cash anyway to pick up some bargains.
I'm out now. Held since July 12. Today's action confuses me and I don't like being confused. Ended up with a 53% profit. Not terrible.
I think it's possible that the miners already priced in this move last week. And if miners want to move more, we need to see 1500 gold. Just a thought. Miners are up against technical resistance as well on the charts
This is crazy! Miners definitely not trusting this gold move
Oh no I think gold will go up, it could start moving up parabolically is what I was saying. I have been long NUGT since $58.60. I do think this run up is getting tired, mainly GDX banging it's head against 31. But if it can break through it will at least go to it's 200 day MA @ 35.24. Which would be about another 40% move for NUGT. I'd probably have to exit at that point.
Up of course..
Could start going parabolic soon..
I can see gold opening strong on Sunday night in Asia.. Could easily run up to 1500 next week! I will be exiting my NUGT position when GDX hits it's 200 day SMA. Still strong from $56.80. GLTA
Price is not volatile like NUGT?? As these products are intended to provide equal and opposite returns to each other, they should by definition have the same volatility.
I think we will see a nice increase if gold can close above 1400.. Miners anticipate the price of gold.. And they liked the run up to 1400, but they know it's strong resistance, so they don't want to factor in the price yet (because they are anticipating a retracement) IMO
Gold broke 1350! This is a major support/resistance level. This is a huge event, those sitting on the sidelines waiting to buy might want to go ahead and buy.. I'd say it's only a small chance we see sub 1350 again anytime soon..
Thanks for sharing!
Just curious, where are you getting the $1322 number from? April's low?
Unfortunately, by going short the absolute most you can make on your investment is 100%.. Whereas it is easy to see that many leveraged ETFs have had periods where they have returned multiples of 100%.. Your short strategy might be good for day trading, but if you plan on holding for an intermediate time period, it is best to just go long in the appropriate ETF.