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I’m sorry, but through swing trading the spread this year I have made a respectable return. Coincidentally, I’ve accumulated a rather substantial core of house shares. Compared to the simple buy and hold strategy, over the same time frame, that has left many with a bag full of shares bearing a pps above the current spread, there is little wonder why so many are pumping. (They are done buying and are hoping for salvation) Folks are looking for new buyers to spike the pps so they can exit stealthily. Me? I’m going nowhere as I have eliminated risk. I trade on an issues movement, not on unsubstantiated hopes of future revenue. I don’t play the lottery either.
That it never fell below the previous day’s close is a great indicator.
ptcgolf, I too am long with a 2 million share core of house shares. I traded around a small core starting 5 1/2 months ago working the spread, at first to lower my averqge pps, then to build up my core eventually leading to my current position. I'll begin selling at .10, re-investing half of the profits on dips to further build my core. Keep working your core.
Yep, we’ll see .05 hold tomorrow. I feel a hammer dropping this at the close today.
This was a spike fellas, not a run. We’ll still end with a green close.
Agreed. I'm fine with my position as at any point I decide to exit, it's all profit. Risk management got me here and will continue to guide my trading. Flipping wisely takes the gamble out of investing. Hope, for me, is not an investment strategy.
Nice post! I have been trading this regularly the past 5 months within the well defined spreads as it has steadily moved down. This flipping, rather than "buy and hold" has gotten me to the point of having a substantial load of "house shares" (about 2% of the outstanding). Yes, I am done flipping for now. I will only return to buying and flipping if it falls below .02, where the stability and predictability of the spread is safer.
Since the initial manipulated spike to just over .05 at 10 am, this has recorded a steady stream of lower highs and lower lows. I sold a nice chunk for 75% gain, yet still hold my core of "house shares". This may drop into red before the close today. Then, on tomorrows dip, I'll reload what I sold today. It's called trading boys and girls.
In this economy, NICH could auction NFTs and not recover their development costs. Even tangible asset prices are falling. Real estate bubble is fracturing and listing prices are dropping. Two days ago I was considering making a cash offer on a small horse farm listed at $749k. Yesterday, I saw the listing was reduced to $699k. I'll continue to wait for further pps declines here. Ignore the obvious at your own financial peril. I've been at this for over 40 years and can't remember a time where the obvious was so ignored. Those pumping here are doing so in an attempt to recover a portion of their losses only out of self interest. Likely as not, they have a bulk of their NICH holdings on the ask below what they paid, yet marginally above the current thin spread. GLTA
Typical. The duped ignoring truth and facts. Iggy is NOT salvation; it's turning a blind eye to losses.
Why 1000? Yesterday it was 100.
If you wait for trips to be discouraged enough to get out of this POS, you will only increase your losses. Metaverse is dead in this economy and they have little or NO sales of tangible clothing items. Their only hope of survival is through the sale of capital stock. That, of course, means dilution and will apply additional downward pressure on the pps. GLTA I'm poised w/dry powder to be a buyer when it drops much further and it will. Go ahead, mark this post.
Not really. Outside of a few enthusiastic longs, there just isn't much interest in NICH. With but 16 minutes left in trading for the day, I expect one of y'all will execute another 3 dollar trade before close to lift it out of the red zone. Understand though, that will be a meaningless trade as this is going nowhere without solid news of revenues.
A 100 share buy for $3.00; I suppose just to keep it above .03 for appearance sake. Yet, the bid stands at .029 and no one is slapping the ask. Daily volume is below average with but 50 minutes remaining in the trading day. Let's see if it will be able to hold today's early gains. I can't wait to see their 4th qtr. fiscal year 2022 financials as they will be quite telling.
Why buy today when it is quite obvious that there will be no reversal in the fortunes of NICH until such time as they have production contracts (never reported) and a plan of distribution (never reported) to generate (hopefully) meaningful revenues. On-line sales will NEVER be the catalyst for a turnaround.
Perhaps. In the last (and most recent) quarterly report, NICH lost nearly $20 million dollars. Even if they post revenue of $4 - 5 thousand for the current (4th, FY 2022) quarter, their losses will again, most likely, be in the $20+ million range. I expect further price erosion coming of 50 - 90 percent. That is when I intend to accumulate. I make it a practice to NEVER buy into a falling knife, regardless of the pumping being done by a few posters with large followings.
Ridiculous! When no one is buying, it's a huge signal the market considers the issue is overpriced due to lack of performance.
Exactly! How about some news on ANY upcoming production run of ANY piece of their artistically designed clothing. Have they executed a contract for their items to be produced?, or do they have their own factory/production facility? Why can't they disseminate news about distribution channels? What retailers will be carrying their artistic fashion items? This will see trips long before any substantial run materializes. Right now, they have an idea and they're raising money via a Reg. A offering. Ask yourselves, is NICH gonna run on the sale of a few shirts? What is their distribution/marketing plan? Where are their clothing items going to be manufactured? Absolutely everything about NICH is speculative smoke and mirrors. They lack money, they lack marketing, they lack production facilities and they lack distribution. They have simply named artists of "some renown" and published graphic representations of their intentions. GLTA . I'll load up in the mid-trips, await the inevitable change in business model, and then sell at the .003 pump of the new model for a 500% gain. If you haven't seen a sh_tshow like this previously, you either haven't paid attention or your new to the OTC.
Chart has had steady downtrend since unwarranted early April spike. Continuing lower highs and lower lows do not hold promise. Dilution and $0 reported revenue paint a dismal picture. My advice, if you remain committed to this issue, is to sell everything at the .003 area and then look to re-enter in the trips. You’ll end up with a lower dollar cost average. There is little doubt, even amongst those pumping, that is where this will find a bottom. For a bounce from there, revenue reporting will be REQUIRED. GLTA
Prodigious posters? I think you meant prodigious pumpers. Instead of outrageous run proclamations, maybe your prodigious poster could point out any signs of revenue. Oh, I forgot. NICH has none. Sans revenue, this issue is headed for trips.
No trades for 2 hours. Need more interest. I have shares for sale in the .04’s
If NICH was selling any product, they would be all over revealing revenue from such activity. As they are not, the obvious conclusion is they are lacking in marketing, have no appreciable revenue and will soon need a capital raise to stay afloat. I’ve never been one to buy into a falling knife, but with the notable posters with large followings pumping NICH, the spread has been fairly consistent and predictable. Obviously this eases the risk of swing trading to amass a good core of free shares. Y’all have plenty of time to enter down here. Do not expect a breakout in the absence of revenue reporting. Everything else is window dressing to keep it from trips. In fact, that is the only work they are doing that has proven to be marginally successful.
Let it Breathe? Flipping? Manipulation? Dilution?
None of them mean a thing until we see some revenue reporting. Only then will we be able to make judgements and form opinions and strategies about this issue.
Until then I’ll continue swing trading this within the spread, while stacking up a growing pile of “house shares”.
Anyone that posts “last chance to buy at these prices” from .05’s and continues with that statement all the way down to high .02’s is flipping on the swings they drive. Ignore them as they likely have a self serving interest.
You are correct. That was in reference to ALERTS, to whom you were replying.
Had I listened to your “last chance to buy at these prices” pumps a month or more ago, I would be holding a big red bag. Instead I bought carefully on dips while it was hovering around .05 and sold at the high .04’s range. Repeating this over and over, my bag is pretty healthy. . .even at current swing range. Not looking for any big move up until we get a report on revenue demonstrating both marketability of products and growth potential. I ignore repetitive unsubstantiated pumps. GO NICH! GLTA. Trade intelligently within a swing range to build your holding at the lower end of the swing range and you should do well. If it stays within the .033 - .042 range much longer I’ll have a bag full of “house shares”. Those I’ll hold indefinitely for a potential big payday. Without revenue performance I will stealthily exit even or with a small insignificant gain and move on without looking back. Never call in love with an OTC listed issue.
With the U.S. jewelry market exceeding $75 Billion, it is hardly honest to refer to sflm (as done so in a PR) as a “leading” provider of high end luxury goods when their annual sales are but $10 - 12 million annually.
Agreed. Anyone that doesn’t think the economy will have an adverse effect on discretionary purchases is ignoring what is happening worldwide. Everything SFLM sells can be described as discretionary. Their market is shrinking daily.
Oops. Let me edit my last post to read Tuesday.
Nice paint at the close of a paltry volume day yesterday. Now we’re all set for a down day Monday.
I thought, for a minute, about taking out the 267.2 ask, but have decided I enjoy my nearly free core too much to add additional risk to my position.
Well, it works. I'm but a few trades away from having my entire 500k core being "house shares". I'll also have dry powder as a true run initiates. I haven't been impeding a run, I've simply been taking advantage of a somewhat stable trading range while exercising risk management. NICH is going no further w/o revenue data.
160. Or, in other words, double yours. When one's rebuttal of a post is a modestly veiled attempt to denigrate the poster, they clearly have no useful response to that which they are replying.
Heavy bag you got there. Probably gonna get worse as I see it trending down the rest of the week without some kind of revenue report.
Calling out erroneous upward forecasts by those with an unstated agenda is hardly bashing. Just because someone disagrees with the folly of pumpers, does not make them a basher. My position is growing without increasing my risk exposure.
Revenue might help with that. Oh, yeah, there is NONE!
Go ahead and buy then!! Why must it always be somebody else and not one of you believers of this fantasy.
Too bad the pumping jokers here have NO clue what they're talking about. Looks to be another red day. .02 - .03 coming. Sold a few today .045 - .048. I'll buy them back lower. It's called trading around a core and my position is continually improving without adding new cash.
That is a bit simply stated as it does not take into account that prototypes have yet to be fielded. There is also a dearth of information as to the revenues or potential profitability of of the prototypes. WKSP is clearly still deep into R & D and their ability to successfully market products has yet to be demonstrated. I'll continue to hold onto my bag, but will not be adding anytime soon. I am not from Missouri; nevertheless SHOW ME.