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Shorts fought hard today. I watched the L2 data and this trade caught my eye. Must have been a short covering. Right after these sales kicked in the price dropped below a penny and never came back up again.
3355000 0.01 33550
4059800 0.01 40598
That was around the time some posted that cdel dumped. For folks that don't know cdel is a brokerage firm. One of their customer(s) is really trying to keep this stock below a penny.
info on cdel
HOw about that run to .05 ?
So do you think the PR might cause the stock to final go above resistance of .0121 ?
This is what we will need. Bear knockout. 100 investors buy 10 million shares each on Wednesday. That would help push the price up and take stock out of short sellers and flippers hands. Then when the earnings report comes out even higher.
Indicators used for long term trends.
If the 50 day moving average crosses above the 200 day moving buy signal.
If the 50 day moving average crosses below the 200 day moving average a sell signal.
Only time will tell on who is right. It was amazing to see the hard sell-off today, then we find out why when someone posted that URL about a sell signal this evening.
For long term investors who are not trading this technical analysis does not matter if you believe the company is going up in the long run. It seems like when someone posted today about the sugar substitute we had a massive sell-off. Thing were going pretty good between .0105 to .0109.
Good reason(s) not to have all your eggs in one basket and learn to limit your risks.
Penny stock rules
1. Never invest in a penny stock without earnings.
2. Don’t invest during a bearish down trend unless near the bottom.
3. Don’t invest more than $100 if the prices is less than .001
4. Don’t invest more than $1000 if the prices is lies than .01
5. Only invest if there are earning reports.
6. Only invest if there is a potential for earnings and revenue upgrades and possible upgrades to nasdaq stock exchange.
7. Always check the charts for historical patterns
8.If the stock is diluted or is about to be diluted wait until dilution is over before investing. Reverse stock splits are not bad if the stock is upgraded and the price is higher.
9.Set price targets for profit taking to at least get back initial capital investment.
10. Every year between sept to dec penny stocks decline. Look for candidates that can triple the money and put no more than 300 each in 10 positions. Try to pick shares where the price is no more than .004. Invest the money and unload when it reaches a penny or triples.
Remember you can make money in a bear market, bull market. But pigs get slaughtered.
Chart of MINE price action.
good chart here
Remember the corporation can't comment too much on ongoing litigation due to sec rules. It is interesting that jmj is in Florida, one of the states with a lot of penny stock fraud. Go back and look at history and posts between August of 2014 to Dec 2014. You might be able to figure out something and connect the dots. This stock and company have been attacked on many fronts. It is amazing the strength of the this stock. Look at the other penny stocks that rallied and went back to 3 zeros in Jan 2015. The highest they were able to get was .05. That's why people like me did not buy the store and purchased at .003. Something else you have to keep in context was the fact that the broader markets were selling off bigtime in Jan 2015. It is amazing that this stock has held up.
Part about litigation
see in sec report
"On April 15, 2014, the Company filed a complaint and sued JMJ Financial (“JMJ”) relating to an alleged illegal conversion pursuant to a Promissory Note dated November 19, 2013 (the “Note”) in the Circuit Court of 11th Judicial Circuit in and for Miami-Dade County. The suit alleges that the Note violates Florida’s usury laws and is, therefore, unenforceable. Minerco sought (a) a declaratory judgment that the Note is null and void ab initio, and (b) preliminary and permanent injunctive relief prohibiting JMJ from converting any purported amounts owed pursuant to the Note into shares of Minerco’s common stock. In May 2014, the injunctive relief bond was set at $2,500,000, cash, which Minerco did not satisfy. Therefore, Minerco did not receive injunctive relief from the court at that time. On June 24, 2014, JMJ filed its Answer and Affirmative Defenses, in which it denied that the Note is usurious, and set forth multiple affirmative defenses, including failure to state a claim upon which relief can be granted and estoppel. On December 12, 2014, Minerco filed a Motion for Leave to File Amended Complaint (the “Motion”) against JMJ Financial relating to the same Note, seeking in its amended complaint the following relief: (a) a declaratory judgment that the Note violates Florida’s usury laws, and thus is null and void ab initio; (b) damages for JMJ’s conversions of the entire purported outstanding balance of the Note that have occurred subsequent to the commencement of the lawsuit; and (c) reasonable attorney’s fees and costs. The Motion has not yet been decided. Discovery is ongoing."
It is bearish short term, but can be a long term upwards move as shown in the example. For cheepies some buying opportunities will happen. For shorts you might want to cover. The buyers are in control of the price of this stock. Very few sellers are able to get their price. This is a accumulation signal for long term investors.
Mine technical analysis. Bearish Engulfing pattern hit today.
technical analysis 2/3/2015
Definition of Bearish Engulfing pattern
link 1
more on probability of direction.
L2 snapshot sells. Looks like the chicken investors came out to sell and short sellers drove down the price. These are from the sins of past over dilution. It will take the longs to continue to dollar cost average to take shares off the market for trading before the price goes to the next level of resistance. Some short selling broken up into blocks.
247900 0.0108 2677.32 10:41:00
247900 0.0108 2677.32 10:53:00
489000 0.0108 5281.2 11:08:00
489000 0.0108 5281.2 11:08:00
160000 0.0107 1712 11:16:00
45000 0.0106 477 11:20:00
180000 0.0107 1926 11:26:00
915000 0.0107 9790.5 11:35:00
401600 0.0106 4256.96 12:11:00
10000 0.0105 105 12:13:00
90000 0.0105 945 12:19:00
91500 0.0105 960.75 12:20:00
431500 0.0105 4530.75 12:23:00
290000 0.0104 3016 12:30:00
420000 0.0104 4368 12:30:00
10000 0.0104 104 12:49:00
10000 0.0104 104 12:49:00
185000 0.0101 1868.5 13:07:00
684100 0.01 6841 13:08:00
674100 0.01 6741 13:09:00
10000 0.0099 99 13:12:00
373500 0.0098 3660.3 13:15:00
10000 0.0101 101 13:22:00
250000 0.0102 2550 13:22:00
250000 0.0102 2550 13:22:00
70500 0.0102 719.1 13:25:00
260000 0.0102 2652 14:02:00
17000 0.0101 171.7 14:02:00
54000 0.0101 545.4 14:12:00
54000 0.0101 545.4 14:22:00
178000 0.0102 1815.6 14:34:00
274700 0.0102 2801.94 14:34:00
453000 0.0102 4620.6 15:10:00
10000 0.0099 99 15:59:00
L2 snapshot buys. 2/3/2015.
quote buy price amount spent
10:41:00 0.0108 145000 0.0107 1551.5
10:53:00 0.0108 145000 0.0107 1551.5
11:08:00 0.0106 28400 0.0106 301.04
11:08:00 0.0106 56900 0.0106 603.14
11:16:00 0.0105 15000 0.0106 159
11:20:00 0.0105 60000 0.0105 630
11:26:00 0.0107 10000 0.0106 106
11:35:00 0.0105 10000 0.0105 105
12:11:00 0.0105 10000 0.0105 105
12:13:00 0.0104 989000 0.0104 10285.6
12:19:00 0.0104 208000 0.0104 2163.2
12:20:00 0.0103 1487000 0.0103 15316.1
12:23:00 0.0104 10000 0.0104 104
12:30:00 0.0104 1487000 0.0103 15316.1
12:30:00 0.0103 1637000 0.0103 16861.1
12:49:00 0.0102 315000 0.0102 3213
12:49:00 0.0102 517000 0.0102 5273.4
13:07:00 0.01 88600 0.01 886
13:08:00 0.01 312000 0.0098 3057.6
13:09:00 0.0099 200000 0.0099 1980
13:12:00 0.0098 263600 0.0098 2583.28
13:15:00 0.0097 10000 0.0097 97
13:22:00 0.01 108500 0.01 1085
13:22:00 0.0102 118500 0.0099 1173.15
13:22:00 0.0102 100000 0.01 1000
13:25:00 0.0102 100000 0.01 1000
14:02:00 0.0101 1679000 0.01 16790
14:02:00 0.0101 1704000 0.01 17040
14:12:00 0.01 1327500 0.01 13275
14:22:00 0.0101 1316100 0.01 13161
14:34:00 0.0101 10000 0.0101 101
14:34:00 0.0101 10000 0.0101 101
15:10:00 0.01 1373900 0.01 13739
15:59:00 0.0099 991000 0.0097 9612.7
Depends on if they are restricted or not. Keep an eye on the reports via the sec.
Yes in terms of new dilution yes, nothing new. The old dilution still exists. Way too many shares outstanding. If you look at other penny stocks with less outstanding shares they seem to rally and go to at least .10. This stock should have been at least at .05 with all the news that came out in Dec 2014 and Jan 2015.
This flipping activity seems to very high. Are you sure that it is not folks cashing out because they got freaked out when it hit .0076 ? And now they want to get out and stay out ?
People in here are in love the stock.
Many people were going to sell out after it got to penny but decided to hang in there. Until dilution issue gets resolved it looks like the max will be around a penny. Have you noticed extremely massive selling when we hit a penny ?
Here are is a sample of sales on Friday
1030200 0.0097 9992.94
450000 0.0096 4320
350000 0.0096 3360
390000 0.0096 3744
495300 0.0096 4754.88
495300 0.0096 4754.88
1219200 0.0097 11826.24
1017100 0.0097 9865.87
1006000 0.0097 9758.2
936000 0.0097 9079.2
936000 0.0097 9079.2
867100 0.0097 8410.87
862600 0.0097 8367.22
1478600 0.01 14786
1134200 0.01 11342
1436800 0.01 14368
1953400 0.01 19534
801400 0.0099 7933.86
1026400 0.0099 10161.36
1160800 0.0099 11491.92
680800 0.0099 6739.92
680800 0.0099 6739.92
1371300 0.0099 13575.87
40000 0.0098 392
1371300 0.0099 13575.87
315000 0.0098 3087
305000 0.0098 2989
235000 0.0098 2303
1636500 0.01 16365
1624500 0.01 16245
1524500 0.01 15245
1519500 0.01 15195
1596500 0.01 15965
1596500 0.01 15965
1539500 0.01 15395
300000 0.0099 2970
68100 0.0098 667.38
693100 0.0098 6792.38
66700 0.0099 660.33
Also read these reports
quarterly report
This was issue recently for clarification.
Supplement info released on 1/9/2015
This caught my eye
"A total of 423,000,000 shares common stock were issued in the first nine months of 2014 for services rendered. "
Lots of good stuff in that supplement and their customer list. Looks like this stock is going to go gang busters. Buzz light year to infinity and beyond.
Possible bullish sign. The last 2 patterns are only successful about 50% of the time.
adcf technical analysis
This stock has been on my radar since 1/19/2015. I was reluctant to invest because the charges against the accounting for pump and dump a few years ago. It was good to see the volume on Thursday and Friday. Might be time to put down the fishing line but be careful in case of a pullback.
The good thing is the owner has some major patents.
Thanks.
Looks good to me. He does not live that far from me. I might go play golf with him. The auditor is reputable nothing shady in his background check.
Where did you get that data that 80% is owned by insiders ?
I don't see it on this site.
cnbc info
Mine Technical Analysis
link
Stock has pretty good strength.
The key is that is not diluted like many of the other penny stocks. Everytime is sells down it seems to get back to .10. It was nice to see if close over a .10 today.
Suggestion for Maryland/DC/Northern based investors.
Write Mr. Pope a letter and tell him you are investor. Ask him to show you some the paper work for the partnerships with the private government contractors. Look up the names on government contract award site. If you find the contractor verify with the contractor you have a winner. Also try to find out about the cloud computing data centers ijjp is working with.
Another thing to consider is why would someone use a internet radio show with the voice knowing that the SEC locally in Maryland could shut him down in a hearbeat ?
He might have been doing short covering.
Good Video. Thanks.
I watch them. Good videos. A penny is resistance. Could not hold. Everytime it hit a penny massive selling. Seems like the people who could not sell before came selling like crazy at .0099 to .01. I saw a bunch of sells on L2 cashing out between $13,000 to $19,534 today (share counts over 1 million shares). If there was not so much selling pressure the price would have closed above a penny.
People are loading up on this stock.
I got 100,000 last week @.0017 and another 100000 @.001.
Bid Order for 805,145,700 @.0001. Buyback ??
I noticed this order when I got a quote on my broker. The order never got executed. Is this a possible buyback ? The order went away and then another order was listed on the bid for 700 Million shares at @0.0001. It was pulled then the 805,145,700 @.0001 appeared again.
I found that on the net tonight and posted it. I thought it was interesting for the board to digest.
Finra issued a warning about bitcoin scams.
Bitcoin: More than a Bit Risky
Seems like a lot of people are doing research before they are investing in penny stocks.
Coca-Cola (KO) To Confirm Minerco Resources (MINE) Acquisition Discussions
Possible buyout of MINE
A few got shutdown last by SEC.
That is why people are watching to see if the same thing happens this year. They shutdown a bunch of lawyers and auditors pushing mining stocks recently.
recent microcap fraud crackdown
Someone should order some services.
See if they can actually get one of their cloud computing resources.
The corporate website has red flags also.
corporate site
There is nothing about links for jobs. You can't find out how many employees work at the company.
You also can't find out who owns the stock.
ownership
I also don't see any government contracts on
US government contract site
I see no place where you can buy their cloud computing services.
Just went by corporate head quarters.
It is a house. it is in Montgomery county Maryland. Of course that does mean anything there are plenty of companies that run out of peoples houses. Of course it is interesting that the house address has suite 300 in it.
Thanks for the information about the SEC regulation.
I recommend that you all get the names of who is running the company and search the court records in the various states. The is SEC is cracking down on pump and dump schemes, as I posted in a early post.
otc info
court record website
Maryland court records
Also someone posted something about corporate address, that was beyond funny. Someone in the DC area could go by and drive by.
I know some people who had positions up in $60,000 (positive), they went to execute the trade and could not because SEC halted trading.
SEC is cracking down.
Would not be surprised if this is being investigated.
SEC crackdown on penny stocks
It takes some patience.
Remember last dec 2014 when all the news came and the stock kept on going down to the low of .0026 ? It was the fact that someone put in a large bid with $37,500 to push the stock up on 12/26/2014 at the price of .0034 (you can check the L2 data).
People are waiting for earnings reports. That is what will drive the stock price. In the meantime it will be very volatile. When you watch the price action it moves all over the place. It comes down to the bulls and the bears. When you look at the buying for selling volume most days the stock is in sell mode. It is amazing that the price level considering all the drama last year when it fell off a cliff in Sept 2014. That is when Putman Investments dropped it.
When I put in my buy orders last year a bunch expired until I put in good for 60 days to get the price level I wanted.
Reasons for selloff.
People taking profits, end of the month people have to pay bills. Lets not forget about the people who have less than $25,000 in their accounts. They are subjected to the PDT (pattern day trading rule). They have to wait for the funds to clear. Next week we will see them back up buying shares. I am hearing conversations on the east coast (is it time to get back in). Something else to keep in mind. Many folks who are into trading stocks hate mutual funds. They can't stand to take a temporary paper loss. They have never been and never will be long term investors (IMHO). When you tell them that your mutual fund portfolio has 6 to 7 figures and it swings up and down $8,000 to $10,000 a day sometimes that freaks them out. If you are long term investor this is an excellent time to get into the stock before it gets uplisted and becomes part of smart cap indexes.
Stock is being talked about on the east coast.
One guy told his buddies he had a dream when Mine go upgraded to Nasdaq, was able to buy 10 houses. The day that happened is when mine hit a high of .0058 on 1/5/2015.