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It's usually 5 minutes after somebody posts "Yahoo!" or "To the Moon!!" but in this case it was 13 minutes after somebody simply asked the question.
Darn, right when I was going to sell a chunk at 2.73.
where's the news?
There's a technical school of thought that likes to draw lines along the low points of a climbing or falling stock. The story is that a stock will tend to come down, touch the line and resume the trend. This is the trend since Wednesday.
Don't have a web presence where I can put this image. Shows the climb since Wednesday with price skipping along a nice slope and OBV rising with it.
Interested in what TA people think.
Just had to say something didn't you? #
Who would have thought banks had investment rules. I guess sub-prime mortgage instruments don't count.
Most of us benefit from the discussion that goes on here, but asking pointed questions usually results in ridicule, so it's not productive. I'm afraid some here think they can convince the market to care with enough repetition. I am long here, but I concur with whoever once said, "I'm long on PVCT, short on bullshit." It's a risky play, but risk reward is weighted toward reward. I hope.
Interesting. My Fidelity account (average run-of-the-mill) shows no insider transactions at all for the last year.That's not right. Are there different kinds of ITs that only show for special, more expensive accounts? That don't seem right. An insider buy is an inside buy.
Later: eTrade account shows nothing recent and a buy by Koe back in Sept. Think a Pro account just pulls it up faster?
Don't believe everything you read then.
Many here have blamed short sellers for some of the volatility of PVCT. This writer says that short selling is not done on the pink sheets. What's the story?
http://www.investopedia.com/articles/investing/070313/use-caution-trading-pink-sheet-stocks.asp
And then, I looked at
http://www.otcmarkets.com/stock/PVCT/short-sales
and found short interest an on going concern for PVCT. Just confused. Writer clueless or is there some nuance there?
What I said was to buy at a limit price, not market. Most people here know that. I did not recommend a price TO buy at. Can't read the tea leaves.
A word to the wise for any new investors. Yesterday, a small trade kicked the price up by 4 cents. That could have been someone's market order. I would place limit orders on a stock like this. It's possible that whoever bought at 1.74 could have got it at 1.70.
No, I meant 'who.' Seems like someone here once remarked on the kind of trades being made and specified a certain type of seller or something more cognizant than a big block of shares.
It would be nice to know who sold 34,000 shares at 2:12.
I note that the 20 day MA has come down to meet share price. At the same time, the 20 day Bollinger bands have clamped down. OBV is neutral over same time period. The narrow BB is said to forecast a near term movement in price. Any comments?
Later...I should add that the BB indication means movement, not necessarily upward.
Yeah, but what can I say? I'm a whiner.
HoundDogg, want to bahrow my Afrin?
Price still near opening but OBV is positive.
Ya think?
Well, it's been fun reading the buccaneer1961 blog, but seems the adult supervision has left the building...
I get what you say HoundDogg. It's a speculative stock and nobody knows what is happening with it. I am long, have been for 3 years, but it's a crap shoot. Thanks for saying...
A question. I have always viewed the market as a constant stream of buy and sell orders. Prices fluctuate based on the willingness of buyers and sellers to agree on a price at any given moment. That cannot be happening in cases like this. The first trade of the day was a sell of 29,000 shares. Then, as was pointed out, mostly piddly trades followed up until now. My question is who bought the 29,000 shares from that seller? And, if it was the MM, how was the price determined?
Although I am skeptical of TA, I acknowledge your expertise and these recommendations sound valid to me. I have been buying and selling for small profits since we hit this area, but all I do is watch how volatile the stock is and buy on dips. The only reason I can do that is because I am largely long at a 1.00 average and I can avoid the angst of when to sell my steak. (Or is that stake?) Of course, if we are wrong about PVCT, I'm screwed no matter what small profits I make on daily trades. If someone did, in fact, predict the collapse 10 minutes before, it really wouldn't be possible to act on such information when it is buried in all those troll reports of impending disaster. So, in summary, I'm not saying TA is worthless and I'm not disputing your own analysis. I just think that in this situation, where volume is normally low except when some big players hit the board enmasse at selected times, you're not seeing the kind of efficient market that can be analyzed very well. But carry on. I find your TA very interesting.
Yeah, short squeeze would be nice, but (and this is purely speculation - I have no information to back it up) I think most short positions, in the case of PVCT, are taken as a short term strategy and fulfilled for a nice profit or stop sold for a small loss. A short squeeze is a long term accumulation of short sales that crosses a certain line and begins to bite their holders because the market overpowers them. I can't prove any of this manipulation case, but I think it fits the chart better than simply market moves. No number of long term investors are suddenly deciding to buy massive amounts of PVCT on Monday morning and then dumping them as soon as they go up 15%. We just have to live with this until there is an actual change in outlook, i.e. new, important information.
That is correct. Look at the volume last 5 days. Big moves up and down on big volume at the open, then meandering the rest of the day. Traders working in concert to pump then shorting for the dump. Doesn't always work but it works enough to make this thinly traded stock a manipulator's dream. TA didn't forecast the crash from 6 to 1. TA requires an efficient market. We don't have that...yet.
Yeah, on the 23rd, I wasn't trying to sell everything, but I would have taken some profits. Fidelity showed no value for PVCT because of a CUSIP change and promised update by the next market open (which did not happen). I was afraid the co had declared. It was not a good day for a CUSIP change, and one has to wonder why it was done during trading hours.
I have enjoyed reading this board the last 5 days. Glad I can already draw some flames. Makes me feel like one of the boys.
I invested in PVCT about 3 years ago based on a rec by a friend of mine who is a doctor. I'm still holding most of what I bought but now buying a little for short term trades. I use charts but only to guess; I don't read them. What I see today is that the sellers were those who got in when the bubble began so I am hopeful we have seen the last meltdown.
This does not feel like a scam. The co has been working this for a decade now and their claims are not widely optimistic. And you don't meet with the FDA for nothing. Here's hoping. Nothing guaranteed.