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All good and valid points, Nosey...
Agree totally with your fundamental analysis.
I'm in at .049, so you have a little more leeway than I. A little late to the party, I guess, but I do share the longer term view that this has potential to be a buck at some point in the future.
That being said, I am not willing to blindly hold, through thick and thin, on that POSSIBLE climb to a buck. This is after all, still a pink sheet stock, and anything can happen. What is reassuring is the level of DD and the large holdings of many people here. All I'm saying is we need to get the volume rolling again.
Good luck to all.
I see the possible basing action as well...
And your call could very well be correct. I hope so.
I'll take the high road and ignore your sarcastic comments. Or maybe I'll just join "the cult".
God forbid anyone say anything even REMOTELY critical of the technicals or fundamentals.
Nosey...
This is a good board, and I'll resist the urge to get into a debate with you. All I'm doing is givng my opinion, and you two want to take shots at me.
Well, I stand by my statement. Until the volume comes back, and it has been declining steadily for six straight days, THIS STOCK GOES NOWHERE.
I'll change my short term view when and ONLY when the volume picks up again. Right now it's anemic, and getting more so each day.
And here's some insight for you - not every post has to be rah-rah, I love this stock, news coming, etc, etc. I'm long, but also have an objective point of view.
If you one of the big holders here, than you could probably care less about the short term. Me, six figures is more in the ballpark, and seven figures ain't gonna happen.
Thanks, eatme...
Glad those clowns didn't get access to your account. Russia is still like the wild west in a lot of ways. Although, I guess a teenager from Boston could do the same thing.
Nothing against Boston, first random city that came to mind.
But I am a Jets fan. Look out, Patriots.
Eatme - who do you trade with?...
I use Ameritrade and don't get either Level 2's OR bid/ask on my streamer.
Great technical setup...and no buyers.
What a waste.
Momentum is being sucked out, short term...
Each day of light volume sucks more life out of any imminent move. Increasing volume needs to come back or this will do nothing in the near term
Best you can hope for until these conditions is that it holds somewhere in the high .03's to around .04.
If the volume comes back, everything changes. A near term move, and a big one, would be quite possible.
Guess we have 90 mins to find out, Dig...
I agree with arch though, that this level of volume won't do much of anything.
Zigbee - like you're thinking on VFIN...
These MM's need to be taught a lesson and beat up a little. And you're right, volume ABSOLUTELY makes the difference. I hope this was a last desperate push to get some more cheap shares, and if the pressure is kept on them, hopefully their backs can be broken soon.
It seems, in taking another look at the technicals, the price drop dosen't jive with the strength in the indicators I follow. And, the slow stoch really moved nicely out of oversold conditions.
I said I was going to sell on a bounce and re-evaluate, but upon further review I'm staying in, for now. BUT, we need that volume to re-accelerate, not slowly dry up. This week will be key in that determination.
So much for me hitting the top 20 in shares held. Man, some of you guys have a large interest here. I'll be happy hitting six figures in shares held, chump change to some of you here.
Eatme...
You've got some guts, sir. That an enormous stake to take in a pinksheet stock. Gotta respect your nerve. That's some risky stuff, so I guess you've done your homework.
I may just hold my shares into next week as a salute to your stake here. What the heck, my other indicators are still strong. I will average up if things firm. I never average down.
Any idea what the top 20 is here in terms of # of shares owned? I can't approach you but I may be able to crack the top 20 if the number isn't in the 7 figures.
I am not a day trader. More like a month trader.
Love your passion for the stock, folks...
I truly hope you're right, as I'd rather make money with you than be on the sidelines.
Eatme, your absolute certainty about imminent news and what people are doing behind the scenes suggest to me you either:
a) have inside information - illegal.
b) are a master spin doctor
c) have done more DD than anyone on the face of the earth
d) something I haven't covered in a), b), or c).
Easy guys...
A little touchy, are we?
I'll know by .07 if I'm getting back in, so if I sell at .05, I'll leave a couple of pennies of profit on the table. No big deal, because I agree that IF this gets rolling again, there are big gains ahead. Volume will be key in that determination.
Eatme, of course my "line in the sand" could be wrong. And if it is, I'll be back in, and happily admit my miscalculation.
Anyone who claims their trading rules are infallible are just as foolish as those who claim they know big news is coming that will surely drive the stock to new highs.
That's it for me, guys...
Broke my line in the sand, although the other indicators I follow are still OK, for now.
I'm placing an order to sell at .05 - assuming of course that I can.
This was a dreadful week that could continue, but I hope not. Better safe than sorry, I will re-evaluate to see if the price/volume reaccelerate to the upside, at which point I'll get back in. I got in at just under a nickel, and will most likely have to get in a couple of cents higher, but at least I'll feel confident about doing so. I have no confidence here until this starts turning around.
Eatme...
how do you know they're shorting?
Nosey...
Other indicators I use are the MACD, Slow Stochastics, Money Flow, and OBV.
I will still put my sell order in at .05 if this closes below the 10 day. However, if the MACD remains in an uptrend, and if the daily OBV and Money Flow indicators don't show much more damage, I may get right back in. I do like the fact that the Slow Stoch has come down - a lot of that overbought pressure was released without too much damge to the other indicators I follow.
Finally, I am not interested in debating over trading/investing style. So, if you want to share what you do, that's fine. Otherwise, I think I've spent enough time explaining what I do. Disagree if you want, but my results are all that matter to me.
Juxta, let me explain...
First of all, the 10 day SMA is my line in the sand, so to speak. It is subjective, you are correct. Other people use different MA's. The reason I use the 10 day is that, if it is broken, there are other MA's below it (like the 50 day) that a stock has a chance to find support (i.e. a bounce). It is on that bounce that I hope to get all my money out, re-evaluate the situation, and determine the technical damage done BEFORE getting back in.
I've found the 10 day to give me enough leeway in the short-term to wait out a moderate correction, but tight enough to take advantage of a bounce. As of this writing this is more than a moderate correction. It is a bloodletting.
I think if you now re-read my post, it will make more sense, at least in my thinking process. You may disagree, probably do, but that's what makes a market. As I alluded to earlier, I don't rely solely on fundamentals to give me the confidence to hold on. Fundamentals let me decide WHAT to buy, but technicals let me decide WHEN to buy and sell.
Know what will get me pumped...
A close above .048 on at least 10 million shares. That will do more for me than a PR.
Of course, it could be a PR that causes the move, I suppose.
.07 to .035 in less than three days...
Can't just thumb your nose at that. That being said, this is the kind of day where you could see a reversal, when the drop is dramatic and people are getting concerned.
Watching and waiting.
CanAm - your welcome...
This is EXACTLY why I use the charts. I told you what I thought was going to happen starting on Wednesday. Not gloating, because now I'm underwater. BTW, here the post #'s expressing my concerns: 5846, 5833, 5815, 5579, 5566, 5563.
Unless we get a major reversal and finish above that 10 day (high .04's), I'm putting an order in to sell my shares at .05 (little over where I bought) on some sort of bounce off the huge drop this week.
Hopefully, that will happen sometime next week, and I'll be out with all my money. Then, I will re-evaluate to determine another entry point. However, as I said, a reversal today and I might stay in. Heck, I may even buy more depending on how powerful that reversal may be.
But, as of right now, it's looking highly unlikely that will happen. Good luck to you long term, fundamental people. Unlike you, I refuse to ride a stock through thick and thin. I hope you get rewarded for doing so, and I will be watching closely today and in the near future.
what was the final closing price? EOM.
CanAm...
You keep buying on "potential". I will buy based on what people are currently doing with their money.
And yes, to get a pulse on the current supply/demand dynamic, I use the charts to help determine that footprint. But I use them as a confirmation to the fundamental story that is unfolding. Never as a standalone vehicle.
Right now, I still think we're within the parameters of a good but not excessively long or deep pullback. But if it drags out much longer, and if you're content to watch the stock drift, comforting yourself with "all the great news coming down the road", be my guest. Not me.
But I suppose this is what makes a market. And BTW, you're buying not on fundamentals, but what you are expecting the fundamentals to be. As of right now, we have no idea what the fundamentals are because they don't file any financials.
I use the sticks as well, luky...
have served me quite well. I think you see where I coming from when I say that something good has to happen, and soon.
While I think the majority of the profit taking is done, IMO the risk now is volume drying up and a slow drift downward. MM's can really play their tricks as the volume wanes.
Need a new wave of significant buying. Right now, it looks like the opposite is happening. Support looks to be at .048 right now, at least an attempt to hold support here. But I'm afraid it won't hold too much longer without that aforementioned infusion of new money.
As always, watching and waiting to see how this plays out. I am ready to throw in more money when I first see others doing the same AND it's being reflected on the charts.
you are 100% correct, brikk...
problem for me is that my trading rules keep me cautious UNTIL that confident buying returns. I will buy more when I start seeing strength again. I'll miss a few pennies of upside, but those who step up earlier than me also deserve more profits than me.
Guess its up to, as you said, the "faithful longs" (i.e. long term investors who don't give a crap about the charts) to step up. IMO, the sooner the better.
I won't lead, but I will follow.
There is a fine line technically...
between releasing some overbought pressure (which is necessary for more upward movement), and damging the charts in the short term. I think we can deal with one more day of weakness today, but this has to start turning up tomorrow, or at least reverse intraday tomorrow. This week has been good for the stock so far, but let's hope it dosen't get overdone.
Also would like to see the volume stay up, at least 10 million/day. I will reevaluate the situation at the end of each day.
Correct redelmo - 10 day is key...
need to hold it. no ifs, ands,or buts.
redelmo...
most objective chartists would express concern on a pullback/selloff on moderate to high volume. It's not bashing, it's commenting on a situation that is actually happening. This forum should not simply be a rah-rah fan club.
I am a long holder of the stock, but I call it as I see it. And as I see it, if the stock closes below the 10 day SMA (my personal line in the sand), IMO, it's going lower. Dosen't mean the company dosen't have a great future - it just means that, IN MY OPINION, there is a little trouble in the near term. As a trader, that's not good. If you're an investor, you'll be fine IF things pan out as people expect.
We'll see how the rest of the day pans out. I would love to see a bit of a reversal and a close in the mid .05's, at least.
10 day SMA is around the mid .04's...
Would like to see some support there, or higher. This is getting the stuffing kicked out of it today. If we finish weak on big volume, IMO red flag in the short term.