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Just to clarify, I don't mean to say manipulation doesn't exist - it clearly does everywhere, and to a greater extent here in the wild wild west of stocks. However when a company is solidly backed by financial strength (a reflection of a company's immediate strength) manipulation hardly makes a difference. I believe manipulation is also there when price climbs higher, it's just not an inconvenience to the little guy at that point so it's not acknowledged as no one cares when their acct balance is larger.
NTEK is clearly a legit company, and a strong one at that. There's just a few factors that need to be taken care of until the company can have immediate financial strength that will push the price towards an appropriate valuation.
Just my opinion on the matter, always appreciate a good discussion.
I'm sure we can all agree that it is worthwhile to have a few shares of NTEK in the ol back pocket ;]
Honestly I don't see much manipulation. The demand simply isn't there. Have another high volume day like we saw last week and I'm sure price would rise. It seems to me some long investors sold into the crowd of new folks buying - which is nothing new or out of the ordinary. Without the new crowd there wouldn't be enough demand to allow the longs to take profit.
Considering the price is still holding up strong near the highs I'd say its just a matter of time and/or a solid PR that will rejuvenate the demand.
When I was a noob I used to buy into the manipulation accusations, but after much study and experience later, it's clear blaming manipulation is simply the easy way out of truly holding oneself accountable to the tape. I mean no offense by this - it's just my honest observation and personal experience.
Faced with a choice of blaming manipulation or looking objectively at the outcome after one's decision to buy or sell, I would pick the latter choice as the one that will allow one to better his/her game.
Def don't mean to direct this whole post at only you, btw. More of a general post.
AMD to the moon regardless IMO. We're having gap ups that continually get filled which to me indicates we'll probably see a short-lived downward leg towards bottom of this correction. The bottom of that downward leg should allow a good opportunity for most of the shorts to cover which would greatly contribute to creating strong upward momentum to get the next large wave up started that will take us to newer highs.
Couple people on this board have been calling for low $3.00 - but IMO such calls are basically worthless without more guidance, ie at what level does that call get canceled? What is the time frame? Without providing at least those two bits of information saying a stock is going to go down is like stating rain will fall somewhere in America. In other words, its a lofty call but one that certainly doesn't give the right to boast should it prove true.
Anyone know what happen to the PR that was supposed to come out awhile back? I bought in yesterday and TCPS is looking solid so far today. Looks like a great week ahead. First wave up is going to be a little dodgy as the bears still want control and people are iffy about getting in, but after we clear out of wave 1 and correction 2, the 3rd wave should take us cleanly towards previous highs.
Clearly the hype allowed investors to sell into a crowd of new people trying to buy, allowing them to take profit without hurting share price much. I sold yesterday after the gap filled - that's almost always a sure sign of impending weakness. Bought in again a little bit though. Should be a solid place to hop in.
Thanks for your well balanced post.
Chart is not overbought. There is no such as thing as overbought, but assuming there was, you would need to specify under what time frame. In addition to that, what is required for the chart to go from the so called label of overbought to normally bought and at what level will that be?
Caution is always required with trading however there is no reason to extra cautious in the middle of the meat of a move up. If the chart fails to move up strongly and with conviction, THAT is a sign that people need to take serious caution because things they may not be as they seem.
All good points, but just out of curiosity, so what if NTEK can't get primetime? It doesn't mean it's a company not worth a damn, it's still significantly more than the current valuation.
I see no bashing in your post, it's all worth mentioning and reading IMO. A lot of people do get awfully dreamy here in penny land though. Always good to ground oneself.
Massive volume. Loving it!
It does :)
Agree. Pullbacks are for us short term traders to grapple over, but definitely I think longs will be quite satisfied regardless of a pullback.
I don't know of any other stock that has such a strong potential for growth in the near-term. EarthLink maybe, but that one is definitely under the radar and not nearly as liquid as this one.
Anyone else not getting order filled? I've had a small buy waiting at least 30 minutes now.
Who was buying all those shares? Clearly one can't sell unless there is a buyer willing to take them off your hands. For whatever reason, someone still thought it was worthy to take them at .0036, so I don't see the logic behind believing there will be continuation of 'dumping'.
This appears to be an orchestrated attempt to scare people out of shares, not a full out dump where the company is deemed worthless. We'll see what happens tomorrow I suppose.
Be careful it could be a false break out. In my opinion the triangle trend line that have been acting as resistance needs to act clearly as support. Whatever the move is, it will be explosive, a lot of pent up energy.
It's really quite simple from a chart perspective. Either this triangle we're in resolves downward, in which case we would touch down right around $3.5 and start to move up, or it can stand alone as the entire correction in which case it would lead to an explosive resolution upward.
Yes, I just said the chart might move up or it might move down, how profound, right?
Note from an Elliott perspective downward move = triangle being a B wave in which case a C wave is still left. An upward move means the triangle itself is a 4th wave, and is a completed correction on its own.
Look for triangle trend lines to act as support or resistance to confirm the break out.
Good on you for admitting to that. I highly suggest you study the chart at your buy point and look before and after that point, particularly at volume and size of candlesticks. Indicators are nice and all, but as experience will teach anyone, indicators need to be approached with the proper mentality.
For what it's worth, the quickness of the downward move along with the fact it retraced near exactly 78.6% allows for the possibility for a continuation of bullish moves.
But to be frank, this is a last ditch opportunity and it is a must for the chart not to dip lower in order to have continued upward strength. The downward pattern is a complete one, but retracing beyond 78.6% is most definitely not a strong sign.
I do believe theres also a possibility that market makers were grabbing shares for cheap EOD yesterday. There were certainly some large buys going on, and market makers will make sure they sell those shares at a profit. Whether the chart has a shot at going above .01 is completely uncertain and anyone pumping otherwise is simply delusional.
Yes the resistance levels are clear, .05 seems very reachable but only after it can completely and fully take out .01 and .023, and that is a very long ways away.
When you see very large candlesticks on lower volume like we did in the last 100% move, you can rest assured that is panic buying and selling going on.
I use wave analysis and a couple hand picked indicators in my trading quite a bit, but nothing is more useful than understanding volume analysis IMO. The only truth in the chart is volume and price, the rest is a game of probabilities.
Lovely chart. Price on the retracement has bottomed well within the range for continued strength.
.0092 next
.0234 is the next resistance zone that can give trouble. If that gets taken out... then I see no reason to stop again until at .065
Core support levels for sustained strength:
.0125 first, expect it to go through and touch at .0108 or so, below that would be risky to continue holding.
Good lawd. I was looking at the chart at .0019, and wanted to buy in at .0017 LOL. I looked at the chart after awhile and it was at .003 and my jaw dropped and stayed that way for like 10 seconds. After which I started buying in, and now have an average in the low 4's. Wow I wish I had more funds cleared right now, but it's all good... so glad to be in this today with well over half a million shares.
Good lawd. I was looking at the chart at .0019, and wanted to buy in at .0017 LOL. I looked at the chart after awhile and it was at .003 and my jaw dropped and stayed that way for like 10 seconds. After which I started buying in, and now have an average in the low 4's. Wow I wish I had more funds cleared right now, but it's all good... so glad to be in this today with well over half a million shares.
Btw it just so happens Ichimoku also seems to form its support and resistance bands at key Fib levels, so personally I would prefer looking at that vs moving averages or visual support/resistance lines.
I prefer doing fib analysis manually but the cloud support in your image is at an important fib confluence zone. I need to work more with ichimoku, is a pretty interesting indicator for sure.
The cloud looks excellent there no doubt. Technically the chart is looking very primed for a run. All support levels have been thoroughly tested and the bottom most Fibonacci support level held up great, which is a necessity when we start retracing as we did the past few sessions.
Although I did not expect to dip into the 2's, I held on to my shares because price action landed perfectly on the support level and bounced off in a hurry. Am just upset I didn't have cleared funds at the time, could have averaged down quite a bit.
My average is at .051, so I'm still in the red but that's alright. Hate to admit I've been suckered into holding on to far larger losses than my risk dictates, but the technicals were too loud to ignore.
Looking to be in profit tomorrow. We tested out some Fib resistance points, and closed at one as well. Still have a bit to battle a couple Fib zones that we need to battle through, but with volume it should be easy. The other option is gapping up and over them, and if that occurs I do not want to see the gap filled.
Gap ups are no good if the gap gets fully retraced, that's basically saying the gap up was pointless. If anything, less than 50% of a gap full is preferable.
Goodluck to all, and especially to the management in getting their work done so we can see some good news in the near future.
How do plays like this behave in strong market corrections? There's a real potential of this market correction turning into something more. I haven't been around long enough to know what happen back in 08, and I'm not suggesting anything like that is about to happen, but I am wondering what one can expect.
I actually closed some long positions in my larger stocks at EOD today because of how the indices were dropping. Kept all of this one (and it is my largest cash value position at the moment).
Thoughts? If you think the larger market doesn't apply, you most likely have never compared how microcaps move compared to indices even on an intraday basis.
The players who truly drive this up are affected by market fluctuations, and I have no clue, but would love to know, how some of the smallcap institutions perceive smallcaps in these situations.
But first I want my small order at .041 to fill :D might be my lucky day. Thinking we'll see a couple big hits in the last minutes.
Yes I agree, lots of things showing an imminent bounce.
Here's a grid I've been working off of. Clearly we just broke that level in the image, however now the next level will act as strong support. Breaking through that would be a huge sign of weakness, but frankly I do not see that occurring.
I like these quick moves down on medium volume as they indicate the last phase of panic in corrections.
What sort of dip are you looking for? Slow/steady consolidation or quick and fierce? Slow steady would obviously not be good, quick and fierce I always look forward to, only issue is this stock is not very liquid at all, and it really becomes a gamble about whether or not one can even take advantage of a dip. That was my experience yesterday anyway.
GL!
Damn I've been on the sidelines checking this chart out here and there, but today's move is insane. You guys really see this thing going to over a dollar in the near future? I've read some of the posts and things look legit, just don't want another SKTOesque scenario happening.
No doubt this thing moves like crazy. Hurts a little knowing this showed up on a scan I did at least a week ago, but decided to hang on the side since I recently vowed to minimally trade penny plays lol.
Looking a little more closer at the chart, I believe this is an excellent buy point. The chart is forming the strongest portion of the wave upward precisely where one would like. Looking at a daily chart, one can see a few spots where $6.06 or so acted as support. This will clearly be a key zone to pass, and this momentum will make it much less of a struggle.
Beautiful close, this played out picture perfect today. Will probably close in the 7's on Friday if it breaks through the low $6's with ease and strength. If not the 7's, at least ~$6.6 at the bottom of that gap from before.
Bought in here this AM. Looking good today. Couple day swing trade most likely, keeping fairly tight stop.
I am SO in here. Bought in at $1.69 then more at $1.74. I'm thinking this might be my first 10 bagger, one that actually has some solid legs. Very excited about this one.
Funny thing is around this time a year ago is when I first opened a brokerage account... so I could invest in miners, AUMN may have been the first stock I ever bought.
Let's see where she can go.
Not to mention I like that it's been quiet here for a few months. Like undisturbed snow.
Interesting company and dig the recent volume burst [without a huge messy candle, indicating still being accumulated]. Consolidation looks quite healthy and composed as well. This is a chart I will be observing closely, seems like a no brainer IMO, especially for a position trader.
Very interesting company here. There seems to be increased volume on steady/minimally declining volume as of late which certainly is a good sign.
I am likely going to establish a longer term position with AMBT. Really don't see any reason for price to continue any lower at this point.
Bsav,
Thanks for your post. I believe we're looking at this from two different perspectives, yours being one that is focused on the much broader viewpoint. As I mentioned in my post, my point was driven more towards intraday fluctuations as being correlated to the larger indices.
I don't believe the valuation [thus share price] is affected directly by the performance of any major index [perhaps indirectly, after all CERP was affected a great deal by the Euro economic situation]. However, I do believe the day to day liquidity necessary to drive share price is correlated to the larger indices.
Reminds me kind of how horsepower, torque and engine speed are related. Horsepower being valuation, torque being liquidity, engine speed being participants.
Perhaps liquidity can be low, but it can be overcome with a large number of participants, i.e. the moment when news is released.
F1 cars for example have very low torque and high hp because their engines are rotating at ridiculously high RPM's. Torque is dependent upon how fast said torque can be generated, i.e. an engine at 5k RPM is not utilizing as much torque per unit of time as an engine at 15k RPM.
In other words an F1 car is essentially like a chart that is constantly being bombarded with tons of participants, as if favorable news was being released by the minute, consistently.
An 18 wheeler truck is the complete opposite. There are very little number of participants [low engine speed], however the torque figure of these engines are fantastically high. On a chart this would be like a small number of power investors... The acceleration is not nearly as rapid and chaotic as an F1 car, but it gets the job done.
Point being, in the market the torque and engine speed are in constant flux, whereas in a motor these are set values without variability. CERP can have a lot of horses, but if on some days the amount of liquidity within the entire market is slowed, or the number of participants are reduced [which seems likely if liquidity is reduced], it will take more time for the actual movement of share price [aka torque/engine speed] to reach peak power.
Of course this could be plain wrong, but intraday comparisons to major indices proves this to be true to me. A long term chart won't show this as it won't be giving details about torque and engine speed as intraday charts show. Long term will capture the valuation IMO. My mentioning the major indices is to make better sense of a lagging day to day chart.
Let me know if this made any sense at all, or if you disagree with said view. I'd be curious to know. I had a good few epiphanies writing this lol.