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I hope so! Monday could be a big day if we get news.
Pretty sure there's news after the bell tomorrow...
I never use stop losses. I am a long term investor and believe this is going much higher.
I think this will be a play where it runs slowly to $25, $50, or $75 per share with multiple PR'S. The fundamentals are turning around fast and when we get earnings I think we will see a good climb in the share price.
You can tell the market makers are really trying to shake the weak hands.
It's like taking candy from a baby for the market makers. They are short and will do anything to get a bear raid going.
Completely agree! The fundamentals are turning around for this company and fast!
People get fearful when we have down days, but we are still up like 40% from that move last Friday.
Holding long and strong. This is a long term play. If you are a trader you can make some money too, but for me this stock is a buy and hold.
Still, they received $100 million and year end projections for cash is $40-$50 million and expenses are down 33%.
With the extra cash they could easily buy a new ship or pay off debt, or both.
I think the next 6 months of earnings will look much better.
One press release and KABOOM! Easily $15-$20 a share.
I disagree. This company is turning around fast and I think we will get some exciting news in the very near future.
- Just received $100 million from direct offering
- Increased liquidity
- New $200 million loan
- Expenses are down
- Probably will buy some distressed vessels soon (which will cause the share price to skyrocket)
- New company updates this Friday after the bell
I feel like this has more downside. But once gold and the dollar reverse trends I think we see this hit $20-$30 very quickly.
So excited for the rest of this week and next. I had my mom buy this stock she is now long 584 shares. She wants to get her kitchen redone so she has a $50 limit to sell. Her financial advisor thinks I'm crazy though for getting her into this stock. Can't wait to prove him wrong. LOL
“We are delighted to announce a series of positive developments for the Company. We appreciate the support shown by our Founder to restore our balance sheet. Following the closing of our successful equity offering and putting the New Revolver in place, we will have total available liquidity of between $119.0 million and 129.0 million that will not only give us comfort to fund operations but also gives us the opportunity to evaluate the possible acquisition of assets at distressed values. We believe that given where we are in the cycle in both the tanker and drybulk markets, we are faced with a unique entry point to acquire vessels in these sectors at historic low prices. Together with the support of our manager TMS and the revised agreements that provide for full scalability, we will make DryShips great again.”
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=11740467&RcvdDate=12/16/2016&CoName=DRYSHIPS%20INC.&FormType=6-K&View=html
Does anyone else think there will be a reverse split soon? I mean not that it matters, this is an index fund so a reverse split will have no effect on price. Just curious as to what everyone else thinks since the price is getting clobbered.
I agree that long term gold is going much higher, and over the next 5-10 years we could see $10,000 or $20,000 gold.
In that case NUGT and JNUG would skyrocket.
I'm personally sitting on the sidelines until we see a reversal in gold and the dollar. But once that happens I'm jumping in for the long haul.
It's good to see that there is at least one other long term investor on this board!
I haven't bought yet though, as I said in my previous post I'm waiting on the sidelines until we see a reversal.
But always remember what NUGT and JNUG did last year when the price of gold rose... You can see what I mean by looking at the first chart on this board. You can also check finviz. JNUG went from $5 to $32 a share!
I agree that this will blow up, but I don't think now is the right time to invest. If you bought already, I wouldn't sell, but I would wait until we see a reversal in gold to buy anymore.
I plan on being a long term investor once the price of gold and dollar reverse trends.
I found this interesting as well...
https://etfguide.com/qa-cant-leveraged-etfs-bought-held/
"We plotted a 5-year chart of SSO vs. the S&P 500 index (SNP:^GSPC). (See below) The first observation is that SSO is a 2x daily levered S&P 500 fund and it gained 245%. Shouldn’t it have gained 172% or double the S&P 500’s five-year 86% return? The answer is no and it’s mainly because SSO is built to deliver 2x daily exposure to the S&P 500, not 2x annual or 2x multi-year exposure. For that reason, SSO’s performance over a year or many years will often deviate from the straight up 2x annual or 2x multi-year performance return of the S&P 500. Again, these performance discrepancies over longer periods are normal and should be expected."
I see what you mean now by "decay".
http://www.etf.com/publications/journalofindexes/joi-articles/5421-how-long-can-you-hold-leveraged-etfs.html?nopaging=1
Basically, if you catch JNUG in a downtrend, it will wreak havoc on your portfolio due to the effect of compounding. However, the reverse is also true - catch JNUG in a long term uptrend like what happened to JNUG and NUGT in 2015 and the returns will be magnified as well, due to the power of compounding...
"The difference between daily and long-term returns is well-documented in the literature surrounding leveraged and inverse funds. It all stems from the basic math of compounding.
Suppose you have an index that starts out with a value of 100. You also have a product that’s designed to provide 200 percent of the upside exposure of that index. That product starts out with a value of $100.
On Day 1, the index rises 10 percent to 110, and the product rises 20 percent to $120. Perfect. But on Day 2, the index falls 10 percent to 99, while the product falls 20 percent to $96. After just two days, the problem is obvious: The index is down 1 percent, and the leveraged product is down 4 percent."
To me, it's all about "if" you get in at the right time, which can be very challenging to do.
Now I see why you're telling everyone this is just for day trading. But I still wouldn't mind holding JNUG for several months "if" the right factors are at play (weaker dollar, gold moving higher, etc.)
Interesting link, thanks, but I still stand by the example of NUGT as to where this could go if we get a turn around in gold.
Now I still believe gold prices are going much lower, so I don't think holding NUGT/JNUG right now is the wisest idea.
But if we get a turn around in gold prices I think this could be an excellent long term hold, with the potential for phenomenal gains.
I'm confused by what you mean when you say "decay". I know that this tracks GDXJ on a daily basis, but if GDXJ starts to run big this would just as easily gap up and would now be 3x levered to the upside. I remember when NUGT went from $4 a share to about $35 and that tells me that this could just as easily turn around and hit $35 a share from where it is now.
Just my two cents
Could you explain to me what you mean by decay?
Agreed. I see posts on the JNUG and NUGT boards and people are always saying they are afraid of a reverse split because the share price is getting too low.
But with index funds it really doesn't matter because it will continue to trade in the direction of the underlying index it tracks.
But what if you're like me and believe that gold is going much higher long term?
I'm not talking a couple of months, or even a couple of years. 5-10 years is what I mean.
See, I believe we will see JNUG and NUGT climb into the $100's long term as the dollar weakens and people get more fearful about the state of the world economy.
I think JNUG and NUGT are excellent long term holds as long as you utilize the options market to pay for that 1% expense ratio or whatever it is.
I think in 5 years JNUG and NUGT will be in the $100's, or thousands if there is a reverse split.
Just my 2 cents
Well given the fact that we closed at the session highs and it's still climbing higher after hours, I think tomorrow will be a good day. Will we hit $10 a share tomorrow or next week? We will see.
The only thing to be cautious of is the market makers and their dirty tricks. They are short and desperate.
The only thing to be cautious of is the market makers and their dirty tricks. They are short and desperate.
I say we hit $7-$8 tomorrow. Possibly $10-$12 if we get more news.
I see this being a $20-$30 stock in the next couple weeks.
Yes I agree. Please mods sticky those posts.
I see this easily going to $100 a share in the next 5 years. Possibly $200-$300
You're not short. Unless you're a market maker which I seriously doubt.
No problem!
If you're wrong, then I'm right
Soon, you will be wrong.
Here's a couple pieces on it... Both from former OTC market makers...
https://m.reddit.com/r/weedstocks/comments/1xydch/market_maker_speaks_out_ways_of_a_market_maker/?compact=false
http://otcshortreport.com/blog/john-lux/a-short-seller-manipulation-technique-used-by-otc-market-makers/
Some market makers sell short at the ask and then buy back their shares on the bid when the price drops. It's called naked shorting and it is a form of dilution.
Yes, its a long shot, but who knows, I've seen a couple stocks run from .00001 before to pennies a share. Anything could happen.
Ahh I see. I thought all brokers banned trading in MNVN but I guess not. Thanks
Who knows, I'm just throwing it out there. All we can do is hope for the best.
I've been wanting to ask you though... Every now and then we get a little bit of volume. But if we are under a dtc chill how are we getting that volume?
Because when I try and place a trade I am rejected by my broker.
If a major oil company buys out Mondial I would probably piss in my pants due to the excitement.
This stock will rally eventually. Based on the revenue numbers and the assets they have I see DRYS hitting a $50-$100 million market cap.
I completely agree. I remember reading a piece on a former market maker who said the practice happens all the time with penny stocks. Instead of just regularly filling orders by raising their bids and making a normal market the dirty market makers short, short, and short some more. Naked, of course.
That's why this thing sells off every time we get a pop it's those damn market makers shoring the stock and creating supply out of thin air.