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Volume is pretty low to call it a breakout, but it does look like $EGI sellers have dried up. Volume will come as the stock continues to move upward.
A little more volume and it should move up nicely. $EGI is very undervalued. Buyers in this area will be rewarded nicely. Patience will pay with $EGI.
Markets closed Monday 10/29/12
So is the market open or not tomorrow
Closed Monday and perhaps Tuesday.
Hello, is that your alert, or an official alert of some news letter?
Boy, this is a very quiet board. That usually happens when people are worried about their positions. But, I'm not. This stock is near its 52 week low and has big money backing and investment ownership which is a rare security blanket for a junior miner. Rio Tinto and Turquoise Hill Resources (formerly Ivanhoe Mines) are major shareholders of Entrée, holding approximately 13% and 11% of issued and outstanding shares, respectively. Rio Tinto, through its majority ownership of Turquoise Hill Resources, beneficially owns 23.6% of Entrée''s issued and outstanding shares.
This company will succeed and or be bought out. After doing my DD right before my starter position at .495 and my second purchase under .44 I believe this will be a $2 stock in a year or less or be bought out for more than that. Mining stocks are down and most juniors are near lows. I think these stocks are about to cycle up and buying EGI in this area will pay big.
Nice buy, it should pay handsomely.
Long-term SVNT is a real gold mine.
Is anyone still holding EGI? The set-up here is solid, just need some volume which will come as the stock starts moving up. Retested yesterday's low of .430 with a .4303 which is setting a bottom if that is not broken today. That said, there is still a .42 cent (one penny) gap yet to be filled so that could also happen.
Again, the recent .56 high volume swing point will be retested again as per technical rules. Also, the stock has retraced the entire high volume move it made on Wednesday on half the volume. In my experience, that means the M&M's brought it back to cover their naked shorts when they were caught without enough shares to supply Wednesday's volume demand. I see a consolidation going on right now as M&M's and other large buyers accumulate before letting it go. IMO, this is a beautiful technical set-up where patience will pay handsomely.
Here's the chart, you can see what I mean.
http://stockcharts.com/h-sc/ui?s=SVNT&p=D&b=5&g=0&id=p03769834440
We need more volume to eat up rest of sellers. The set-up here is solid, just need some volume which will come as the stock starts moving up. Retested yesterday's low of .430 with a .4303 which is setting a bottom if that is not broken today. That said, there is still a .42 cent (one penny) gap yet to be filled so that could also happen.
Again, the recent .56 high volume swing point will be retested again as per technical rules. Also, the stock has retraced the entire high volume move it made on Wednesday on half the volume. In my experience, that means the M&M's brought it back to cover their naked shorts when they were caught without enough shares to supply Wednesday's volume demand. I see a consolidation going on right now as M&M's and other large buyers accumulate before letting it go. IMO, this is a beautiful technical set-up where patience will pay handsomely.
SVNT -- Any thoughts on its recent downward trend
Using the early Aug. low of .58 cents as a starting point and the $2.95 high in late Sept. as an ending point or top, a .618 Fib retracement brings SVNT back to $1.485. Will be interesting to see if that holds.
http://stockcharts.com/h-sc/ui?s=SVNT&p=D&b=5&g=0&id=p03769834440
Using the early low of .58 cents as a starting point and the $2.95 high in late Sept., a .618 Fib retracement brings SVNT back to $1.485. Will be interesting to see if that holds.
A lot depends on your volume of trading. If you trade a lot and have a hefty account balance, you can negotiate a reduced trading fee. I pay $5 a trade with Ameritrade because I was a Freetrade customer which was owned by Ameritrade. Ameritrade then eliminated Freetrade but kept the commissions at Freetrade price which was half Ameritrade's price.
Ameritrade has a lot of issues that I don't like. They are starting to restrict a lot of penny stocks. Some you have to call in to place an order. Their margin interest is the highest in the industry.
On the good side, their trading platforms are great, their customer service is probably the best and their site is about a million times better than Zecco. Other than that, you just need to do some research.
I had a Zecco account for a short period of time. IMO, they are the worst brokerage firm on the planet. There were hidden trading fees and many other issues. Get away from them.
If you are your picture, you are wise beyond your years. Luck to you..
I agree, that's a great buy. Looks like they were loading someone big all day. It will move up, but I hate missing one as bad as I did this one. I like to buy and be on the right side of the trade first day, certainly didn't happen here.
They will close the gap at .42 as I suspected, this one completely ditched us. Technically, it should have followed through with an up day after yesterday's highest volume day since late 2010. But, as I said earlier, high volume swing points always get retested. That means yesterday's high of .56 will be retested in the near future. I will hold and add like I have today.
I think that ship has sunk, can't win-em all.
This sucks, but does happen sometimes after a breakout day. May consolidate a day or two, but yesterday's high volume high of .56 cents will be tested again, stay patient. The stock closed at .42 on tuesday and yesterday's low was .43 cents. It might be going after the gap fill.
hope we hit .60 tomorrow with 1 Million Shares
Big volume is always nice to see with a confirmation move off the bottom like we had today. Today's move with volume confirmed yesterday's doji and is a major swing point. You need volume to confirm swing points and today we got it, that's why I bought in. The late day sell-off was nonbelievers that can't read a chart. Many of these people will reenter at higher prices.
But, today's volume does not have to be duplicated for the stock to continue to rise. It would be nice to see higher volume when the 50 day at .60 cents is broken but not absolutely necessary. We have two swing points coming up that I would like to see better than average volume. The first is .75 cents as seen on the daily chart and .84 cents as seen on the weekly chart. Once .84 cents is broken, then the stock will run to .90 cents as seen on the weekly. Bottom line, no matter what indicators you look at on both the daily and weekly charts, this stock has reversed course and has started an uptrend. I have posted three links. Two daily charts and one weekly. The daily based on three years shows today's high volume over three years. Look at the volume on the weekly chart and we still have two days to add to that yet.
With the kind of volume we had today, it's not likely this is a false breakout although nothing in the market is etched in stone. That said, this is the kind of setup that good traders and chart readers look for. Upside movement from here should be about 90% IMO.
http://stockcharts.com/h-sc/ui?s=EGI&p=W&b=5&g=0&id=p83735697018
http://stockcharts.com/h-sc/ui?s=EGI&p=D&b=5&g=0&id=p46027675674
http://stockcharts.com/h-sc/ui?s=EGI&p=D&yr=3&mn=0&dy=0&id=p80074039243
needs to repeat volume of 1 million or more -tomorrow and close at 50dma
Big volume is always nice to see with a confirmation move off the bottom like we had today. Today's move with volume confirmed yesterday's doji and is a major swing point. You need volume to confirm swing points and today we got it, that's why I bought in. The late day sell-off was nonbelievers that can't read a chart. Many of these people will reenter at higher prices.
But, today's volume does not have to be duplicated for the stock to continue to rise. It would be nice to see higher volume when the 50 day at .60 cents is broken but not absolutely necessary. We have two swing points coming up that I would like to see better than average volume. The first is .75 cents as seen on the daily chart and .84 cents as seen on the weekly chart. Once .84 cents is broken, then the stock will run to .90 cents as seen on the weekly. Bottom line, no matter what indicators you look at on both the daily and weekly charts, this stock has reversed course and has started an uptrend. I have posted three links. Two daily charts and one weekly. The daily based on three years shows today's high volume over three years. Look at the volume on the weekly chart and we still have two days to add to that yet.
http://stockcharts.com/h-sc/ui?s=EGI&p=W&b=5&g=0&id=p83735697018
http://stockcharts.com/h-sc/ui?s=EGI&p=D&b=5&g=0&id=p46027675674
http://stockcharts.com/h-sc/ui?s=EGI&p=D&yr=3&mn=0&dy=0&id=p80074039243
I took a starter in EGI @ .495. Chart looks like a reversal is in place. Highest one day volume in since Dec 2010. Looks like it is going after .75 cents.
Stochastics are just turning back up and MACD has bottomed and is ready to cross back over. This is ready to go.
http://stockcharts.com/h-sc/ui?s=EGI&p=D&b=5&g=0&id=p00962623888
That's not all shorts, there's a big seller or two at work here.
Big volume coming in to the downside and the stock has broken below both the 50 and 200 day. Not a good sign.
They are taking this out to the woodshed and spanking its tail. If this breaks under the 200 day at .64 again, it will retest the .56 cent low.
My streamer says there was a low of .56 cents. Again, did it actually trade there or was that a bad tic?
Did this really drop to .56 cents this morning?
This will hit .50 by Friday
Why? Can anyone tell me what's driving this stock? Just found TAGG and was wondering if this board could fill me in.
TIA
I didn also say that if it did move up, get out fast cuz it will crash right back down, and it did. The stock is now red at .011. Luck to you..
Short number continues to increase
LOL, prove it. Another of your baseless claims, not that it matters if short interest is increasing. That will make for a better ride when all the shorts are chasing and going BK.
Not a chance this stock moves up. If it does, sell fast. This stock was recommended by Nathan Gold, egghead alert news letter. His stock picks usually crash first day. I think he shorts into any pop on his own picks.
Yes but VRNG's case is not being thrown out of court
That is correct. One of the early rulings was the judge ruled against Googles motion to dismiss the case. The judge then told them to negotiate a settlement which conceivably could happen yet this weekend, nothing is impossible. It would be great to see the shorts burning Monday morning trying to cover at $10 after news is released.
VRNG float is 5 times as large as VHC was
Doesn't matter, VRNG's award could and probably will be way more than 5 times what was rewarded in that case. We're looking for 5 to 600 million damages plus 2 to 3.5% royalties. Now, that's just for GOOG's case. There are several more suits awaiting. Our 100 million shares will be just fine when all is said and done. Once GOOG is in the bag, that will set a precedent for future suits.
I hope longs don't get killed here, but this is another heavy dilutor that will reverse split at the drop of a hat. They said they will dilute to pay bills in the Q report I just posted. They did a 300 for 1 reverse split and will do it again.
Luck to longs, you will need it.
In other words guys, this company intends to dilute like crazy.
http://www.otcmarkets.com/financialReportViewer?symbol=ALCD&id=88205
Effectuate a reverse split of common stock prior to the consent of the note holders
NOTE 5 – REVERSE STOCK SPLIT
On March 21, 2012 the Company filed an amendment to its articles of incorporation. The amendment called for a
1-for-300 reverse stock split of all the issued and outstanding shares of “Old Common Stock”, such that each
three hundred (300) shares of “Old Common Stock”, $0.001 par value, shall be recombined into one (1) share of
“New Common Stock”, $0.001 par value. Each fractional share shall be rounded up to the nearest whole share.
In lieu of fractional shares, each share so converted shall be rounded up to the next highest number of full shares
of “New Common Stock”; provided that no Stockholder of record as of the effective date of the reverse stock
split shall have fewer than One Hundred (100) shares of “New Common Stock”.
Adjusted Financial Statements
The financial statements have been adjusted to record the reverse stock split for all periods presented.
NOTE 6 – SHARE EXCHANGE AGREEMENT
On April 17, 2012, the Company issued 100,000,000 shares of common stock to the sole equity owner of
Southern ITS Corporation (SIC) for 100% of the issued and outstanding shares of capital stock in SIC. This
executed share exchange agreement resulted in SIC becoming a wholly-owned subsidiary of the Company.
At March 31, 2012, SIC had assets of $126,450, liabilities of $0, and retained earnings of $168,376. For the three
months ended March 31, 2012 SIC had a net loss of $42,027. The transaction resulted in the Company recording
goodwill of $20,893,550. This was calculated from the fair market value of $.2102 time 100,000,000 shares
minus assets received of $126,450.
NOTE 7 – GOODWILL
The Company’s stock exchange with SIC resulted in a goodwill of $20,893,550. At June 30, 2012 the Company’s
test of goodwill resulted in the write off of $20,893,550 which was recorded on the statements of operations.
NOTE 8 - STOCKHOLDERS’ EQUITY
The Company is authorized to issue Ten Million Preferred (10,000,000) shares with par value of $0.001, and One
Hundred Million (500,000,000) shares of common stock at a par value of 0.001.
At inception (March 26, 2008), the Company issued 144,287 common shares to various entities for services
rendered. The issuance resulted in a stock for services expense of $93,521.
The Company issued 10,000 shares in the Fourth Quarter of 2010 to Bonavel Development S.A. towards a
convertible note for payment of money owed to Bonavel Development S.A. for services in March 2008.
The Company issued 3,333 Restrictive shares in 2010 to Michael Dion for consulting services rendered.
In August of 2010, the Company executed a debt conversion agreement with a Bonavel S.A., a convertible note
holder. The $20,000 convertible note dated May 12, 2008 was settled for the issuance of 260,167 common
shares. The shares were not issued till 2011. The debt conversion resulted in a finance expense of $506,050.
In 2011, the Company issued 666,667 shares to officers of the Company for services. The issuance resulted in a
non-cash expense of $3,000,000 (666,667 x $4.5fmv).
On December 31, 2011, the Company had 1,084,453 common shares outstanding and had 0 preferred shares
outstanding.
On March 26, 2012 the Company enacted a 1-for-300 reverse stock. The Company has adjusted all periods
presented for the effects of the reverse stock split.For the six months ended June 30, 212, the Company issued 100,000,000 shares in a share exchange agreement
(see note 6), 73,000,000 shares for the conversion of $73,000 in convertible debt, and 24,231 shares for services.
The conversion of debt resulted in a finance expense of $5,441,500 which was calculated using the fair market
value at the date of conversion minus amount of debt reduced. The 24,231 shares for services resulted in a stock
for services expense of $2,883 which was calculated using the fair market value of $0.119 at date of issuance.
FROM THE LATEST JUNE Q REPORT:
http://www.otcmarkets.com/financialReportViewer?symbol=ALCD&id=88205
As reflected in the accompanying financial statements, the Company has a net loss of $30,938,055 from
inception (March 26, 2008) to June 30, 2012. Its ability to continue as a going concern is dependent upon the
ability of the Company to generate profitable operations in the future and/or to obtain the necessary financing to
meet its obligations and repay its liabilities arising from normal business operations when they come due.
Management intends to address the going concern issue by funding future operations through the sale of equity
capital and by director loans, if needed.The Company is in the development stage and anticipates that it will continue to generate significant losses from
operations in the near future. The Company believes its current available cash, along with anticipated revenues,
may be insufficient to meet its cash needs for the near future. There can be no assurance that financing will be
available in amounts or terms acceptable to the Company, if at all.
These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability
of the Company to continue its operations is dependent on Management's plans, which include the raising of
capital through debt and/or equity markets with some additional funding from other traditional financing sources,
including term notes, until such time that funds provided by operations are sufficient to fund working capital
requirements. The Company may need to incur additional liabilities with certain related parties to sustain the
Company’s existence.
These financial statements do not include any adjustments relating to the recovery of the recorded assets or the
classification of the liabilities that might be necessary should the Company be unable to continue as a going
concern.
In response to these problems, management has taken the following actions:
seeking additional debt and/or equity financing,
continue with development and implementation of the business plan,
assess business markets and related opportunities so that more significant
revenues can be generated, and
Allocate sufficient resources to continue with sales representation and
marketing efforts.
NOTE 4 – CONVERTIBLE NOTES PAYABLE AND RELATED PARTIES
The company has unsecured notes payable and convertible notes payable to related parties and non related
parties at June 30, 2012 and December 31, 2011 under the following general terms:
June 30,
2012
December 31,
2011
1. Convertible notes payable to related parties bearing
interest at 10% payable in two years. $281,520 $330,020
2. Convertible notes payable to non-related parties
bearing 10% payable upon demand 155,000 155,000
3. Notes payable to related parties bearing interest
at 10% payable upon demand 105,752 105,752
4. Notes payable to non-related parties bearing interest
at 10% payable on demand 150,000 150,000
Total 692,272 740,772
Less current portion (612,252) (499,702)
Due after one year $80,020 $241,070
The Company accrued interest on the notes payable in the amount of $220,901 and $184,096 as of June 30,
2012and December 31, 2011.
Possible events constituting default are as follows:
? Failure to pay upon demand
? If we make an assignment for the benefit of creditors
? Bankruptcy or Insolvency
? Any merger, liquidation, dissolution or winding up of business unless any successor expressly assumes
the obligation
Interest will be owed on past infringement damages. As per the following Barron's article that was issued on 10/08/12, interest might be part of the settlement. Below is the entire article for those that might have missed it:
October 8, 2012, 2:40 P.M. ET
Vringo Soars 21% Approaching Google Talks; Maxim Ups Target to $10
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By Tiernan Ray
Shares of intellectual property house Vringo (VRNG), which has been suing Google (GOOG) over what it claims are fundamental patents related to Internet search, are soaring today, up 96 cents, or 21%, at $5.50, after a wave of developments in the last few days.
On Friday, the company said it was entering into negotiations with Google after the court ordered it to do so. Then this morning, Vringo said it filed another suit against Chinese phone maker ZTE (0763HK), accusing it of infringing on three European patents.
The shares have retained their strength despite the company announcing a follow-on offering of stock on Friday that will bring in $45 million in cash.
In a note to clients today, Maxim Group’s John Tinker reiterates a Buy rating on Vringo shares, and raises his price target to $10 from $6.50, writing that Vringo appears to have Google in a tight spot going into negotiations and that Google might pay hundreds of millions to Vringo or simply buy them:
The judge stated that GOOG and VRNG must meet tomorrow, Tuesday, October 9, at 10.30am in Norfolk, Virginia to see if they can negotiate a settlement. VRNG‘s expert witnesses are seeking about $696M plus interest for historical licensing and could be asking for another $700M for future royalties (until 2016). GOOG is in a tricky position; if they pay a patent troll, this could open the doors to further cases. On the other hand, a company that professes to “do no evil” should pay a licensing fee for someone else’s idea that they are using, in our opinion. One possible outcome is that GOOG buys VRNG and then uses the patents in turn as a strategic weapon against Microsoft (MSFT) for similar infringement.
Tinker raised his “damages” estimate for any settlement to $1.4 billion, which results in $15 per share in value, based on a Vringo share count of 92.3 million shares.
GOogle shares today are down $12.34, or 1.6%, at $755.31.