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Boom
I find 14,2 find, to see over bought/over sold indication, while watching daily volumes. The 2 together, give you a good idea if trading interest is increasing on the buy side or decreasing; or if it is increasing on the sell side or decreasing.
Knowing this, with your timing target and profit/loss targets will help you GUESS what will happen next and when to expect a close on you trade!
Well we got 5% on our new swing trade today, with reduced volume and very small ave trade size. Showing me all the old GTEL penny players are in with me to swing this puppy. Today had the smallest trade sizes since it moved to the American!
Here's a 3 week recap, for those that are following;
5/24 # of trades 362, ave size 1,136, vol 411k
5/25 # of trades 659, ave size 1,127, vol 742k
5/26 # of trades 643, ave size 1,321, vol 850k
5/27 # of trades 410, ave size 1,115, vol 457k
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5/31 # of trades 367, ave size 1,561, vol 573k
6/1 # of trades 430, ave size 1,312, vol 564k
6/2 # of trades 571, ave size 1,303, vol 744k
6/3 # of trades 727, ave size 1,068, vol 777k
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6/6 # of trades 1334, ave size 1,723, vol 2.3 mil
6/7 # of trades 901, ave size 934, vol 842k
6/8 # of trades 833, ave size 858, vol 714k
Look at the "number of trades" increase this week, while the "trade size" decreases, the last 2 days after Mondays, hedge fund entry. IMO Little guys buying in! Hedge guys trading out!
The 5% & lower volume, first leg of the swing play reversal is perfect. IMO I'm looking for 3 days at 5 to 7% with slightly larger volumes each day. With a 20 - 25% profit target, before forming the new channel top and retrace.
ottoman
I've sold several buys which I purchased at .014, .011 & .011, into this mini run, MMs have shown they want an accumulation channel between .014 & .018, so I decided to grab my profits for my swing buys now and buy back when it hits .015 for the next MM play.
I continue to hold my original lump for the major run, and swing trade the MM play in between. I do this most of the time I get board waiting for a profit sell target.
It's part of my style of trading and my plan when I first bought TNOG. I don't buy one big all or noting lump when entering a new stock. I try to take the over all money I plan to trade with and divide it into 3 buys.
The first is 50%, second 25%, and third 25%. That way you can sell out at different levels if things don't go where you expect, or sell it al at once when your original sell for profit target is reached.
If the stock retraces real far, and I have some extra cash, I start buying swing trade buys, that's what I've been selling, for 25% profits or better.
As for multi bagger, you missed it, TNOG was 10 times cheaper 3 months ago. And not event god can tell you who else may do that!
ottoman
To be completely honest I've heard the term golden cross, but have not come across what it is in my study of TA. So you'll have to help educated me by explaining your understanding of what it is.
Add on - NEVER MIND stockrocker88 answered golden cross! IMO if you wait for the 50 to cross 200 MA your normally in for the long haul. I'm usually out to quick to see that happen.
Also don't understand what you mean by a multi bagger? Do you mean PPs that triples or more?? I've heard of double baggers but not multi baggers.
ottoman
May I suggest looking at how long the stock you choose takes to cycle for normal highs. That way you will have a general idea, how long you can expect to wait, for an exit point.
As you can see yesterday was the day to jump if your tired of waiting! Now expect 7-8 days for next, with out an out side action to change this pattern.
Boom
Yes you have to register, for free level II @ scottrader, but it's free.
Here's the chart I said I would post. As you can see, the swings this stock had over the last year fit my requirements for a 25% swing trade, but doesn't meets a swing between high & lows of 2 weeks to a month. It does meet your decline bottom requirement.
So, put this all together; I would not watch it, because it takes to long to get money out. But you may watch it, because it may meet your requirements.
Hope this gives you some ideas on picking stocks for your watch list! You could play this stock and expect at least a 25% profit target, with a 12.5% loss target, very easily, but it may take a while to WIN!
PS: you also will notice, you can make money playing a stock that is on an overall long down trend channel and win several times as it goes down!
Techbear
IMO mide's post calling attention to the entrance of hedge traders couldn't have been timed better. Post# 2728 The next day we saw the trade sizes that institutions and hedge fund traders make, with over 2 mill volume. IMO they are here now and the 290K may have been them settling for the days work.
The 1/2 in one day drop in volume shows me, institutions have their postiions and hedge traders working the retail player system. So now we can start to swing GTE again, with less concern of the bottom falling on a MM extended walk down. Remember hedge fund traders want to make money, not accumulate shares. They tend to turn their inventory over again & again, in a channel.
At any rate this is my new plan for GTE and we'll see how it works going forward.
I'm watching for an accumulation channel to form into the summer Test period. Expect a pop play with Q2 release, with a return to this channel. IMO mide has already found the way to make money with GTE. Play the big guys plays, which IMO will be this 50 cent 20% channel. In 2004 I played a 2 cent channel 8 times! So now it's a 50 cent channel! LOL We're in the BIG time now. LOL
In today for my 1st swing trade play on GTE! Sell profit target $3.36, Sell loss target $2.53. As I mentioned IMO $2.80 will become new support level. The lump is Looong!
farnrth1
The interview answers our question as to the relationship with Valor Energy. Looks like a good business move for Tnog as they will be opperating for valor not the other way around, for now!
Management histories also good, because they seem to be the correct business types at the correct business positions.
IMO this company may actually grow in the future, but I still would not go long until the start reporting financials on the OTC:BB.
PS: TA wize I've been selling what I bought low, 7 HOLDING .0168 LUMP FOR RUN TO .025+, because the MMs are in complete control now and have shown they are as proactive as they can be. I would expect to see them continue to create a accumulation channel between .014 and .018. Sell high, buy low your swing trade. until your lump runs on news. Them I plan to start the up trend process over again.
Boom
FREE real time level II @;https://www.scottrader.com/ doesn't show broker list, but you will be able to see tic by tic, & bid/ask change real time!
I'm going to look for a chart I can post that indicates the previous run swing % in it, I was talking about. Should help you see what to look for in screening for your watch list. With using precentages for targets.
With a momentum plays, most jump when the monentum goes, so watch the daily volume. If you see one day 1/2 to previous, it's time to get out. IMO If it lowers slowly, the time to leave is when it gets close to the volume at the run start.
Fast SCO will help to know when to give up also. Look for it to reach the same level as it was when run started, but volume normally is easier to see and quicker in indication.
ADX headed up to DMI+ on bottom, when it crosses PPs will be heading up; aroon down line crossing 70 line down, when arron up line crosses 30 up new trend to start soon; hammer at bottom of down move on less than 1/2 of previous days volume, shows reversal in trading attitude.
All indications of botom reversal. IMO $2.80 will become new support level with yesterdays huge volume, making it a strong one. My new buy target! for swing trading GTE.
Opened my swing today.
onestroke
Well guys, looks like we got a breakout alright! Sure your $3 buy closed! Just like my dumb $3.15, should have kept up on the charts and I would have seen this in time to lower buy order.
Did anyone notice break of $3 resistance matched DMI- crossing 30 line! With lower breakout. Dame charts do indicate, don't they! LOL
Looks like the the 50 cent swing channel the 1st 2 weeks will be in the $3.25/$2.75 range for now. IMO this is the swing trade buy time!
'BoomTime'
OK seems my last post was to basic for you. You know what your doing and have chosen to do it. I like the merging DD and TA. statement. Also like your choosing basing stocks, with previous higher price levels.
You have a watchlist chosen to meet your criterion, but it seems you don't consider yourself a day trader. You buy into runs but sell on a higher support being reached. In doing this you open yourself for the same problem you had with channeling stocks, never hitting your sell target.
May I suggest start picking % levels as targets. This is how I trade and it works well for me.
Your basing you sell target on traders past value levels, instead of traders past emotion levels. You can pick an % run level, which will match your emotional trading style closer. You will miss some higher highs, but reach goals easier.
Lets see if this will give you some ideas, when screening stocks for your watchlist add one thing! You want to see in the history. 10%, 25%, 50% run swings. If you pick stocks that have a history of large run swings, it shows the traders of the stock, have the stock on their watchlist waiting for 10%, 25%,50% and are the same kind of trader as you. Then when a stock runs, you can expect to see similar runs over and over again.
Now instead of playing a stock that has come down and is due for an up run, your playing only stocks that react with predictable responses to a move up.
Once you find them, you can have sell targets in mind before you ever place the firsts buy order. The past 3 times this stock ran, it run 25% before the retrace, so I can expect a 25% run this time.
Set your sell target 25% above the PPs at the start of the run and sell when target is reached. It may go higher and the next support level may be higher, but you meet your goal and move to the next.
------------------------------------------------------------
Not that I'm better at trading in your style, because I don't trade in that style, but some times it helps just seeing thoughts in black and white. And people outside your mind can sometimes see things you miss, because your too close.
Do you want me to stop bothering you. Don't feel obligated , if I'm not helping. I don't want to be here either, if I'm just repeating what you already know and do. Just say thanks we're wasting time. Sorry if it's starting to feel like I'm using you as an example, rather then trying to help. A little of both I guess.
We could talk about my short falls, I could use some help in understanding;
PEG Ratio
Price/Sales (ttm)
Price/Book (mrq)
Enterprise Value/Revenue (ttm)
Enterprise Value/EBITDA (ttm)
In company financials!
Anyone out there that wants to discuss these are welcome!!!
If you want to continue here are a few more questions;
Do you use a good level II and do you watch tic by tic to read MM intervention in the daily PPs movement? Do you normally get in and out in a day or wait until the stock reaches the next support, or falls? Do you choose a time frame to get out, if your targets aren't reached? Are any of these thing important to you, or can you tell me what, if any rules you follow?
I'm a rule guy, but that doesn't mean you should use the same rule as others, but I do believe all traders should find some rules which apply to their style and stick to them. Rules are normally formed by experience, That worked remember that one and ouch that didn't help, should remember not to do that again. This is where the NEVER chase a running stock rule came from. I wish someone told me that when I started!!!!
Keep in mind every experience we post about, may help someone else! Why I'm hear, My new hobbie, is trying to help others in your new hobbie! But their always welcome to ask their own questions, and other readers are always welcome to correct or add to each others posts. Mine included! LOL
sw74
1. Any TA indicator which uses price in the formular will be effected by news & MMs PPs plays. That is because the price movement as a result of the news effects the price!
2. No stop loss normally can only be placed with stocks over $5. But It really depends on who you use as a broker. Most all brokers have their own rules about trading limits. The only SEC rules I know of is " you can't short penny stocks and you must be listed as a daytrader to make more than 4 trades in the same stock in one week, also shorting and day trading requires a margin account." I don't recommend anyone trading on margin, but you can open a margin account, wthout using the margin, so you can become a daytrader with out using credit!
2a. Just another thing to keep in mind, stop loss orders, stop orders and market orders are not wize orders to place on the OTC:BB market. Too many times market makers will close those orders, no matter where the PPs is at. It's illegal, but happen in error and on purpose very often. If you ever have this happen to you, you should contact your broker ASAP! Very hard to nail down, and in too many cases people lose money.
Always use limit orders on the OTC:BB, it safer. If you want to gamble on the OTC:BB, you have to sit at the table! I use round trip orders on exchange traded stock. Helps me keep my fingers out of my original trading plan!!
Boom ADD on to last post!
The first RULE in trading stocks!!!! NEVER chase a running stock NEVER!!!! NEVER. Get my point? Never chase a running stock! If you must have the stock, place a buy order one, two or three clicks above the ask and buy it.
Limit orders are put in lines, 1st come 1st serve. In a fast running stock, your buy at ask, can be way down the list and many wanting to buy at ask, can be passed by. Hense; you keep raising your order and keep missing it. By the time it closes your 20% 30% 40% higher than when you wanted to buy!!! and missed half the run.
This the first thing you should do. Create a watchlist, of stocks that have been doing well!
You have to start making stock plays come to you, not you go to them. This is VERY important!!!!
There are hunderds of stocks out there. Missing a hundered, will not stop others from coming!!! Find stocks that have been doing well for at least 1 month. Grabbing a flat stock that just breaks out of the blue are do or die! So if you start with a good watchlist, you raise you chances of getting out alive.
Concider each night on your watchlist,as work well spent! It takes some work to succeed, screening for good stocks is needed, with ALL trading styles!
BoomTime
Here are links to some websites that can be used to locate stocks for you watch list.
http://clearstation.etrade.com/cgi-bin/events?Cmd=techev
http://www.stockta.com/cgi-bin/screen.pl
http://bigcharts.marketwatch.com/markets/screener.asp
You may have to register. I use them only to find a stock that meets my criteria, then look at 6 month charts at this site;
http://stockcharts.com/
From what you said, your in a place that is completely emotion driven. The first thing needed is to learn to pick stocks before you move. If you have several stocks you know fit your criteria and make an emotional order, chances are you can't make to big of a mistake, because you have good canidates to start.
I'm going to post general info here and ask some more personal questions. If you feel uncomfortable answering, email me at chuck_faulkner@hotmail.com. But I'd like most the info here, so others can understand where we go. That way more than one person at a time can be helped at the same time. No problem if you want it off board.
OK, so we go on. Remember these are suggestions (layers) only. As with all things in life, as "Dustan Hoffman" said in a hero movie, to his son, the world is made up of layers of chit, you just have to pick your layer.
Only playing stocks that are in breakout action is the goal of all traders. Playing these stocks, when found, are the easiest to win or lose big money fast. What goes up fast comes down fast. Plus, most traders that play these have several going at the same time, to hedge loses. The sucessful ones know MM moves and play the MM moves period.DAY TRADERS.
VERY HIGH RISK!!!
I have many MM posts and will try to pick some out, to post to you, if you ask. Other wize you can truge threw my history to find them. They list signals to watch for. I can see I should start saving stuff it files to refer back to.
Daytraders create a portfolio each day and if they miss on one trade, the profits on others balance out, just like an investor.
So the 1st thing you should do is divide your money into several, not just one stock!
If you only play pennies, it's harder to find good plays, you should watch real time news web sites for PRs. Only for stocks on you watch list. And pennies don't release financial news often. So every time you see a PR for stocks on you list, pull it up on level II quick. Financial news will run a stock more often than general achievement news. Here again, you may feel your missing other good plays that are not on your watch list.
To that I say, "you have to have some discipline some where in your trading plan." Cowboys that ride out looking for adventure usually find it. Those prepared to survive, when they leave, usually come back!
Without packing your gear, (a watchlist of stocks that have good performance history), you may not survive! This means, if you get stuck in a play, in a good stock, you may be able to see a second day chance to get out alive!
So there's the beginning of creating a plan for trading day trade penny stocks.
1. Screen stocks that have been performing well and place them on a watch list.
2. Watch real time news for info on stocks in your watch list.
3. Try to play more than one play at a time.
Entry and exit points; I only have one trick for day trading pennies, that does not use shear guts, for pulling the trigger. It is a DMI chart pattern I've mentioned and posted before. It is not very good for real fast breakout runs, because they are over before you would see them on a delayed chart and I don't know of Level II that offers DMI. But here's a link to the info;
http://www.investorshub.com/boards/read_msg.asp?message_id=6027913
As you go over this, feel free to come back with questions.
So here's my questions.
Is it the action, that causes you to trade breakout stocks or just because you think you can make more money on them?
Are you trading with extra money, money that will not be missed, if it is all lost?
Why are you trading at all. EX; to pay bills, retired and it give me something to do, I want to stop working and live on earnings, Just like making money, and on and on.
The reasons will help me suggest a style I feel will help you realize your goals. Different styles of trading seem to meet different goals better.
mide
Very interesting.
I have been trying to keep a handle on the new forming trade sizes buys & sells to determine Institutional trading. They also try to hide their moves, to keep unusual price & volume flux inline.
Their motives are not the same as hedge fund managers though. They want to buy as much or sell as much as possible, with out creating a adverse run that will effect their move in or out. Hedge funds want to create the runs, to assist their profit plays.
I had not considered Hedge fund managers, playing GTE yet. And yes, I feel they would be capable of creating a false trading pattern, to trick retail to buy and sell into momentum plays.
At any rate thanks for bringing this to my attention. To date I have not found any trading pattern which shows institutions or hedge funds playing yet. Not saying they aren't, but if they are, they are good at hiding it.
So far the ave trade size, number of trades and EOD volumes are showing a swing trader movement into GTE. Most unusual large block trades, have been accounted for, with corresponding trades, within a day or two. The other day I reported on a 21k trade, that was bought and later, it was sold in 4 equal smaller trades, for a profit. This has happened 3 other times I've caught, without reporting.
I like the way you think. Getting into the minds of the opposition. I try to do the same thing, with MMs, just never have had to worry about hedge fund managers, because I usually play the same channel they play, on off OTC:BB stocks. I've not held a long postion there before, always swing!
All and all the game is the same for institutions, market makers and hedge fund managers. With varying degrees of scruples. Any retail traders should be aware of the opposition and you have helped many become aware of our's on the American exchange.
For most, it is retail against them, when you realize you can't beat them, you should learn their moves and play the same!
Fashion has also pointed out, the good old floor trader, who from time to time, may gap the PPs up or down, to bring a large buyer/seller in an out of the market. This is not considered wrong, because it is normally balanced into the days trading and EOD ends at an appropriate level. But it's good to recognise when it happens. And why, not manupulation, as much as making a market.
You've been member marked and I look forward to you're future input. We never stop learning!
BoomTime
My quick look has questions on weather you made a good move today.
1. Lon look; I don't see the 3 month up trend, as sharp up, as the 9 month down trend angle. Recovery not as strong as fall.
2. Short look; Yesterday a huge volume spike on small PPs up and today a small volume move on large PPs up.
3. The way you asked the question, showed me, you also are not sure you made the correct decision. The insider buy comment, seems to show me you bought on emotion, with an reason, not a plan!
Tell me your plan, when you bought. And why you felt your plan was attainable.
Hope you don't take this the wrong way. I could have just said, I don't like what I see and I would not have bought.
I want to help you understand the mind set, a trading plan requires. You very well may have made a good play. The reasoning, and the plan, is as important as a successful trade. IMO
Once you learn how to develope a plan for one stock, you will be able to duplicate your trading style over & over, not just once, with questions.
So lets talk over the week end and try to create a mind set that any trade you make, requires no input from someone else. Because you know your plan is a good one.
gregmaster
If anyone could see a breakout, all any TA indicator can do is indicate. The market (some times market makers, LOL) create the PPs.
With TA a trader can look short term; a day or two, mid term; a week or two and long term; a month or two. Investors look a year or two.
TA is used to determine possible targets, not actual ones.
If you look at the chart I just posted, you'll see the distance the green DMI+ line, has to go to reach the black ADX line. The time it will take the lines to meet, is the variable! So IMO because of the indicators I see on that chart the bottom has not been reached. If the indicators showed a possible run up, the same would hold.
TA is not the answer, just away to understand the question!
gregmaster
By all means, if you like a stock and see potencial, you should hold a longer postion. I never said don't hold a stock long.
Many times it pays to hold long and swing a smaller position, so you can make money, while waiting to make money! Funny I just posted this on another board.
That is exactly what I did today. Altering my original plan. Freeing a small portion of my longer hold, to swing short, while waitng for the major profit sell. I could have closed something else, to free up cash. But I'm a stick to your plan man, and just couldn't change one plan, on another stock, to create new plan here.
So my original plan to to swing a TNOG lump for 25% holds, just now I will also swing a smaller position, 10% short. If the sideways channel holds long enough for 2 plays, I'll have made 20% on the small position and 25% on the large. Never alter you loss target down!!!! Or the time you want to tie your money up!!! Stone targets!!! Moving you lifeboat to the other end of the ship, increases you chance to drown!!! LOL
When setting up a trading plan, it's all in the numbers, Concider time, profit, loss, if targets are not hit you should alter some variables, but don't change loss or time targets. They are the things that save your butt. But by all means alter your way to make a profit or raise a profit target, if indicators warrant.
I often raise my profit target, but remember to raise your loss target the same %, so you retain what you have gained!
Say you trading plan sell profit is 10% and sell loss 5%. Things go well and you re-evaluate your stock as it approches your profit target. (I always do that) Then you see a new profit target of 20% resonable, raise your profit target 10% to 20%, but also raise you loss target also. I usually pick my old profit target, as my new loss target. If you reach this point, it's all gravy!
Hope this gives you some ideas on how to create a trading plan.
Todays chart eval!
gregmaster
DMI shows more down coming. IMO
How far, you ask, it could just revisit the support or break it! We'll see!
My earlyer post showed some concern, so I took another longer look. Now I know why todays down move, to my buy target, bothered me rather then please me.
someplay
I hope there can be a healthy discussion of this potential event.
That type of discusion should take place on the main GTE board. I'd look over there. If the subject interests you.
IMO GTE institutional investment won't begin until Q2 has been released.
goalkeeper15
Yes, closed a small position today for 25%, bought at .014, weeks ago. Now I'm ready to swing the channel.
IMO todays trading just enforces my take on the MMs accumulating before the next run. They have continued to keep 10 mill EOD volumes, with tight PPs spread for 3 days. IMO when interest falls to under 10 mill EOD, expect ths MMs to start to sell their accumulated shares into a up run. Todays Dragonfly Doji with confirmation Monday, will start the move to .015, before the next pop. IMO
News is the monkey wrench!!! for .015 bottom.
Just got home and was suprised to see my "open till closed" buy order closed. Checked GTE board and saw a "few that a guy" posts.
Actually, I'm not happy with the buy order closing today. It was not in the correct place, in the chart pattern. IMO
Yesterday I posted a second bottom, on a short 10 day double botton chart, and this move, almost a down breakout, was not indicated. IMO a small lowering would have been ok, say to $3.30, would have been exceptable, but the 4th day drop as far as it did, worries me.
Lets hope this was just thanks to Jim Cramer! Before you guys "pat me on the back" again, lets see my swing up target reached. Now, I have 2 swing buys ready for $4.20, hopefully the move up from the double bottom, will occur next week. But from what I saw today, IMO it could become a down breakout as easy as an up breakout.
Matters not to me, I'm long, until GTE has more time to position it's stock on the American, every buy is mentally added to my long position, with a swing possibility. I don't buy with swing in mind any longer. But the point of the buy, offers me a swing trade oppertunity, if I need cash! All part of my GTE trading plan.
Remember your plan! I want to see a American exchange pattern which will alow forming a swing trading plan along with a long position. I like being able to make money, while waiting to make money. LOL
Todays chart with opinion!
Thanks, As you can see, my don't give buy/sell opinions for the stock targeted boards doesn't hold here. On those boards I want to help newbees, with what I've learned the hard way, using the stock as examples of my point.
Here, I expect to be able to make board members aware of possible playable trades. If a stock looks good, I'd like as much basic info posted. So interested parties can start on there way to making a trading decision!
ecp1976 & goalkeeper
ecp, My number ONE trading RULE! Never chase a running stock, thus if it has run 50%, now is not the time to start to watch it, that time has passed! IMO
keeper, Longer looks are for deciding to play, once your playing you got to look short. IMO I love to look for chart patterns which normally are used for longer looks. I see 2 week triangles, double bottoms, flags, etc. When they are designed to be used for 2 month pattern. This has worked well for me, so far.
'TRUCKER- LOU'
Sorry I wasn't around to answer! IMO GTE is starting to show me it is becoming a channel swing on the American. After watching for a pattern to form the 1st week to now.
I'm seeing bottoms and tops, with a 50 cent range. Today I noticed a 10 day double bottom forming and a good time to get in for a 10 to 15% swing buy!
BoomTime
ADD on - PS: what do they do and what good news has started this stock to start moving over the past 3 months. I don't want to have to do my own DD for each stock questioned. Can it be traded in the US ? Thanks.
The following is a TA eval only!
Just took a five minute look and it looks good to me.
Pull up a chart using 10 day BB, 3 day Aroon and 14 day DMI, with 3 month time frame. So we look at the same thing.
I use these quite often for a quick, short reaction, look!
I'd say the only point to watch is the MMs. The volume shows traders are becoming aware of this stock, and MMs may pull the PPs below the BB center line this round of continued Up trend channel! I like the ADX staying high, shows the 3 month up trend channel continuing! Also the Aroon up trend or no trend the last month supports, my likeing this as a swing stock!
Meaning the time frame for mini runs up, may take a little longer! As they become proactive, manupulating it for accumulation periods.
If you check my posts about Tnog on IHUB. you'll see the same pattern, but Tnog got MMs become proactive last week and now they are creating an accumulation channel.
chrisand813
Sell order was only for a portion of my lump. Didn't want to close something else, as stated before, to play this action.
The order didn't close anyway, it only went to .0174 dame!
And here's the chart I did, to show what I'm looking at.
I have stated that Tnog has become a day trade, because of MMs recent proactive manupulation, well you can swing the MMs accumulation channel also!
What I plan to do, until the real run, on flow rate is release. I miss the trading action, while waiting for my lump to move. LOL
IMO Tnog will not breakout until DMI+ crosses ADX high!!
See the pattern? IMO always look for a pattern!
goalkeeper15
Actually you should read about the chart pattern, "bouble bottom" Heads & shoulders was incorrect to say, for this pattern. Sorry!
http://stockcharts.com/education/ChartAnalysis/doubleBottom.html
Just placed "lettinitride" on the iggy, never thought I'd do that on an IHUB board! Sorry, big man, but an Ahole is an ahole, be it here or RB!
Ok, said it before, say it again. When in penny land play the MM plays! Now that MMs have become proactive on Tnog.
Just put in a sell order @ .0175, will buy back @ .0155 in 2 or 3 days, when Tnog reaches the second bottom, of a forming 10 day heads & shoulders!
See the MMs accumulation channel, between .015 & .018
Will post chart later tonight!
Swing traders!
The minute to buy, second bottom of the bouble bottom, with a head between and second 21k trade under bid in 2 days. IMO
PS: daily trading pattern 507 trades ave size 1,284; Lots of extra trades so far size normal! Looks like Tech is correct to accumulation. It's time to accumulate! no matter who is selling the most.
Oh forgot touch of lower BB also!
Nerd
It seems to be a trading stock so far, on the American. Good consistant swings 2.5 to 5% every day. With a 1st week VWAP up 2.5% from open,@ $3.68. All I'm looking for is an up trend channel to form over the next 3 months.
I really don't understand all the concern about getting a run! Some one planning to sell? I want $3.15. LOL
'ecp1976'
I really wish I had Level 2
Free level II at" https://www.scottrader.com/ "
Not the best, but good enough to know what's happening. Not delayed, is up to minute Tic by Tic. I click T&S, leave it on and can see most short term price movement, charts, good, no MM list, just the best bid/ask. Most that don"t day trade will find the free service fine!!
OK 2;30 to 3:00 there goes The sold 2 mill at .018/.0185, bought back at 017/.0175.
The sucker play should stop when Volume reaches 20 mil and we'll start seeing the walk down, to .016 or lower and 5 to 8 mill accumulated into the EOD ! If their plan works! LOL
Should be a lower bid, larger spread, long hold, until some stuckered traders starts closing out for the day, at a loss. IMO
PS: Did anyone see the poor guy that placed a market order in for 40k at 2:08. The ask was .0171 with trades seconds before and after and the MMs closed his market order at .0179! Cost him $320 for placing a market order in the OTC:BB. Wish I could have told him NEVER use a market order in the OTC:BB !!!
Everyone should learn from this !!!!
MAJOR SUCKER play, there goes another 1 mil between .018/.0187. Thats 2 mil MMs dumped, ask/bid back down!! time to buy back! .0175/.017 trades going through. LOL
Dame; I'm missing this!! There goes (2) +/- 7% swings in an hour!! That would be +/- 15% just this afternoon! Get my point!
farnrth1
Flow numbers are the big move, any up date on other goings on will cause pops.
Look at what just happened in the tic by tic. ! mil shares traded at ask .0175 and in 3 minutes the ask jumps to .0187.
Who would jump past all the ask orders between .0175 to .0187, buy 38k shares and then who would follow and raise ask to .0189, and buy 95K.
That was 1 mill sold at ask .0175, jumped to .0189 on 125K. Just not real! Doesn't happen! I'm thinking about dumping my lump on a good pop, for a reduce target profit, and day trading this thing several times, with the MMs daily plays! Could probably get my target % profit quicker than waiting.
But it's like changing lanes, and I hate changing my plan! I should close out another stock early and use that to day trade though. This has become a day trade, if you can read the MM plays!
Add on dragon , this will move in due time. Was last week. As you can see, I'm looking for a way to play the plays, now that they have become proactive. Now is the time to play the MM plays, while they're active. Hence my swing trade would become a long. and I'm thinking I should use day trading for it to become a swing. Like a micro swing trade! LOL