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I saw the support at 146 and my trade filled, but I think a new support will form at 140.
Of course there were. This was an easy flip-and-skip opportunity. Rick shouldn't be trusted, even if you do know him. This smells too much like a scam and has been stinking for a long time. I've compiled my reasons here: http://ddunderground.com/scam-watch-frontier-energy-corporation-frgy.html
$12.5M being invested by Warren Buffet!!!
See anyone can say what they want and it will attract people. All it takes is one rumor to start rolling and eventually a bogus PR and news release later...
All I'm saying is be careful. IMO this is purely ran on emotion, and no stable ground. It will spike then fall. At the very least, just CONSIDER the DD at ddunderground.com
Absolutely. Don't get me wrong I am all about flipping this thing for profit - I just feel bad for the novice traders who keep emailing saying that FORC is a good company and I don't know what I am talking about in my link that I posted.
Sorry: Here's the link again (this one works, I promise!)
http://ddunderground.com/how-to-spot-a-penny-stock-scam.html
Just wanted to share some new DD on this company - took me about a half of a day to do. All in all, I think you'll find that Force Energy is not what you thought it was: http://ddunderground.com/how-spot-penny-stock-scam-t29.html
That's what I have been saying on ddunderground (the link is here: http://ddunderground.com/topic16.html
I think shareholders are holding their breath waiting for the news - that's why the PPS goes up to the resistance, skims it a little, settles, then falls down to support and then right back up. It's as if people are not 100% sure this will skyrocket (which they are not, but their emotions are definitely showing in the candlestick charts).
Does anyone know: What is the current Share structure? How much power will this plant produce and at what price per megawatt?
We need to get this PPS down to fill that gap - this is the ONLY time in two years I have taken a profit on this stock and its just riding up. STOP IT.
Would anyone like to help me compile 800-2000 words about MNTY discussing how and why this is a scam? Sort of like a narrative of how it went from eCarFly with Milligan to MNTY with Brola, and the whole relationship between the CEOs? It's for a Scam Watch website.
Absolutely - just remember that gaps STATISTICALLY are going to be filled. There are always cases when gaps will not be filled - for example, if a document was released saying that WAMKQ was going to be paid $25.00 per share by the 30th of this month, the gap from $2.20 to $19 or $20 would not be filled. So its always situationally dependent.
The basic premise is not mathematical at all, but rather almost psychological. When you are watching a company's chart go up and down, sometimes there will be a gap in prices - for example, take a look at a candle chart of WAMKQ and you will see that recently there was a Gap in traded prices.
Lets say people are buying and selling at $0.90. There are trades at $0.91, $0.92, and as the days go by, it continues like so:
100 shares bought at $0.93
100 shares bought at $0.94
100 shares bought at $0.95
100 shares bought at $0.96
100 shares bought at $0.97
100 shares bought at $0.98
100 shares bought at $0.99
Then some news comes out, and people get excited, and will purchase the stock at market value because they don't want to set a limit price on a stock that they think is about to go sky high. So if the BID/ASK for the above said stock just after the last trade (100 @ $0.99) is $1.00 (bid), $1.50 (ask), and someone puts in a trade at market price, the stock price now has gone from $0.99 during the last trade to $1.50, creating a $0.51 gap in PPS ($1.50 - $0.99).
Even if the stock continues to go up ($1.51, $1.52, $1.53, etc), statistically the share price will go back to the gap (between $0.99 and $1.50) to fill it. Watch how stocks jump up and down, and you will see that after a gap in PPS the share price usually dips back down later on down the road to "fill" the gap.
Hope that helps.
Hopefully this dips back down and fills the cap in the 1.60s so we can scoop up some more discounted shares.
Maybe a discount electronics store where everything is $99.00
Correct me if I'm wrong but if this is a pennant to confirm the prior trend wouldn't we have a lot more volume? That should be indicative of a PPS drop.
Take a look at the pennant forming. Rally before continuation?
Look up the address of the company and you'll see it goes to some guy's house.
Does anyone think this will fill 1.60 gap?
I'll buy some at the ask to see what that does...
I believe that our support is sitting at $2.00 right now. I have an order in for 2 but I'll probably have to play the penny-chaser game and do 2.05 or .10
I think so. I'm waiting for funds to clear today so I can purchase another 1k or so.
As long as there are holders like you and I, the bottom resistance price should remain strong.
ohhh. Sneaky.
Oh wow why is the bid showing at 0.70?
So now that the flippers are out can we get this thing rollin?
Are all these small orders the MMs trying to drive this down?
If the ask is at yesterday's closing price I wonder if we are going to see a sharp drop at all.
Absolutely: taking profits on the way up - which is contrary to what I haphazardly suggested in my last post - is probably the least risky action to take.
I think most of the board agrees that we are going to get somewhere between 40% and 85%. While we all hope that we get the accrued dividends + a high PPS, we are all playing it safe knowing that that is just too good to be true.
Oh come on guys, its not time to hush up now! When the market is open all we can do is watch. While the market is closed, though, that's when we make our money! Where are all the big minds on this board during this run! Where are my angels?
We need to get our heads on straight.
Who's doing the chart analysis?
Who's doing the financial estimates? How much of what has to go where in order for this run to hold water?
With the ask sitting right now at $5.00, we are looking at two types of people buying at that price: Either its the people who have yet to invest in WAMKQ and want to jump on the bandwagon so they see the ichimoku clouds, the past % gains, and/or the PPS increase and start to buy knowing/hoping that the train has left for Boston from L.A., or its the type of people who have taken a profit after $2.50, are kicking themselves for doing so because of the ask now, and are going to put all their prior investment, + their gains, into the new PPS, confident from their prior earnings that the PPS will continue to rise.
This is my opinion, and it's going to be bias because I have been extremely happy about where this is going. My own personal business, a charity I run, as well as my portfolio is doing extremely well and my girlfriend and I have been celebrating with a large quantity of a very nice chianti.
I should like to consider the situation a bit further, however, and implore everyone else to do the same by playing the devil's advocate. I think in times like this, when after a long time of investors being patient we see a sudden run in PPS, we become a little attached to any reason why the PPS will continue to go higher, and forget any reason - however improbable, just capable - of this PPS going back down. We have seen it already in day traders and people trying to take a profit, whether because it was past their sell point or because they didn't want to risk losing out on the spike.
Seriously, we all need to make sure we are not drinking wine and being merry like me (well, a little is good!) but ensuring that we are absolutely certain this train will continue to rise. I don't want to see the smart people I read here erupting in joy when this thing opens above $4.00 and breaks $5.00 tomorrow. Lets make sure we cover all our grounds before we drink anymore wine (oops). Is the PPS consistent with what the company could possibly cut the Ks if the money is injected into its net worth? Are we certain that this train is giving an educated valuation of the K's current PPS and not just running up the price because we like seeing the price running up? I guess that's what I'm most afraid of.
Congratulations to all, and I will continue to drink my wine and await the comments of older, more experienced investors. I like the minds on this board. Let's keep the thoughts rolling.
Edit 1: I just realized after posting that I didn't even answer your question. I think this will open just under $5.00 because there are too many people out there thinking that a 200% open from yesterday's price is ridiculous, so they'll pull the ask down to a bid of probably $3.85, then from there, the sky is the limit. I really want to see this thing go, any the only thing that will stop it is when people get their heads on straight and realize that there is no real money being exchanged right now. The PPS is a product of speculation - as is usually the case - and will require momentum from confidence to continue. Otherwise, we may see a triple peak and a shark decline.
That's a good point. I see the ask at $5.00 right now.
Buying in early would be a smart idea because sheer popularity could ride this into positive gains tomorrow. It's almost a guaranteed win. But, as always, be safe.
Absolutely they will. With the news for the past year, plus the major increases in volume and PPS, this will hit the radar of a lot of big-$$ players.
Broke $2.00. I thought $1.90 would prove more resistant.
If WMI receives "x" dollars, is there a somewhat static formula for determining the amount of money that will go to each of the preferred stocks?
My dilemma is this: I have a friend who is heavy into WaMu common stock, telling me that my play with Ks (I'm heavy in Ks) isn't going to be as profitable as the commons. He's telling me that the share price now will probably be a 10x-bagger once this all settles out, and I just can't see how that would happen if the preferred shares are going to be paid out first.
Will ALL shares receive a sum of money or does each one have an order of precedence? It was always my understanding that preferred shares are just that - preferred by investors because they are paid before commons are if the company goes under.
Also, a while back some conversations were going on about a sort of "back pay" for all the dividends and interest that shareholders were supposed to receive while being shareholders of the preferred stocks. While possible, I believe it to be improbable that they will try to "back pay" shareholders for the dividends they should have received. (IMO, of course. Thoughts?)
They take longer to clear? Do you know why that is?
Does anyone think that the price will drop significantly before new years day? I think its going to get beaten down because of MMs. Look at the trades so far: little ones of 500 @ .12. I think they're trying to drive the price down so people try to sell before they start doing their taxes.
Is there any chance this will go above $25? I don't think it can seeing as how that's its call price, right?
Happy Thanksgiving!
Someone's trying to get more shares. I know when I see an ask that's really high I always tell myself "What if I just sell of THIS many shares..."
I think MMs know that people are trying to get a profit, and they will reap the spoils off of anyone willing to sell off down here.
I thought about that, too. With $750 I was hoping to shake it at least a little. My concerns about scared sellers started to bother me though, that's why I didn't want to do it within a dime of the bid. I might reserve $100 to do that, or maybe start the orders within a dime, then move up +.25, then +.50, then +1.00 - sort of increment as I go.