Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
> Promo starting on OMVE
This promo comes at an interesting time.
In general, I note the previous failed test of resistance at 200 MA. I do note, however, a rising 50 MA this time around. However, the R2 is right at a declining MA 200. Isn't it just amazing how things line up in such a way as to confuse everyone? Now, along comes a promo to light a match to the proverbial straw. The next few days should be very interesting.
> SGOC, down big today . . .
There were a couple of times that I nailed sprongs like this one spot on. One was EYSM, which isn't trading anymore. I caught the MACD crossover in real time, and watched as the price magically started to rise. I bought in, and patiently endured a minor lunchtime pullback. I waited until just minutes before the close before I dumped it. All told, I was up about 250%. Not too shabby for a day trade!
Another one I nailed was LFBG, which had me up 450% in one day. (I wound up quitting my job over this one, because the promised Internet connection wasn't there, and by the time I sold it the following Monday morning, I was "only" up 250%).
Since those moves, along with some smaller ones, I have resolved never to chase after a balloon set into free flight, and to always close my position just near the end of the day.
Big daily moves like the one in SGOC are often the result of big news, pump and dumps, wide-scale promotions, and/or short squeezes. I have never seen a subsequent big move after a tall sprong like that had formed. (Although anything is possible).
Buyins.net, which maintains a huge database of information, issued a recent notice on this stock (among some others) that may offer some insight. That report may be found here: http://barchart.com/headlines/story.php?id=4159705
Lighter side: Time to unwind
Check out Oliver Valez, too.
Always glad to help, but always a little nervous about turning someone away from a potential winner.
Here's a set of very good videos on Youtube. Tip: Use Freeyoutubedownloader or something similar to download them all. This takes less time, and frees you up to watch them at your leisure.
This is on the "Infinity Trader Method," which is very similar to "Pristine Trading." It's not so much the actual methods, as it is that you are focusing on what it is that you are trying to accomplish.
I took a gander, sir. . .
According to the rules I try to trade by (and while I've frequently cited my sources, I want to take a moment out to plug a bunch of free vids on Youtube featuring Oliver Valez - get 'em while they're free; I paid a fortune for some of his DVDs).
BMTL - Wait for the MA 200 to flatten out first. Looks like it's bottom building. Keep an eye on it.
SEEK has a chart that looks somewhat intriguing, but consider that it's trying to find a niche between Yahoo! (which gave up its' catagorized directories a decade or longer ago, Local.com (see chart below), and Google. Yahoo! (YHOO) closed at only $15.10, today, while Google (GOOG) closed at $630.84, today - and that's with analysts calling it undervalued. That's where I go to pull up my dentists phone number, secure in the knowledge that it will be on that Google front page. Remember Alta-Vista, and Inktomi, and Netscape?
JSNH is hitting resistance hard both on the daily and weekly charts, right now, and its R2 pivot is near a recent high.
Monday evening - after the close - is when I like to analyze what I did right, and wrong.
KING - I knew I may be in trouble buying into this setup when it gapped up right after the open of .$0.0019 to $0.0020. Thereafter, it started a downward trend that lasted the entire trading day. $0.0019 formed a tight resistance zone that lasted for five 15-minute trading periods; four last Thursday, and the opening 15 minutes of today's bar. Whenever a stock gaps up during the first half hour or so of trading, I take a wait and see approach. I waited long enough to realize that today was not the day to buy into this setup.
DNNC - the pizza chain in Canada - gave a similarly uninspiring performance, opening at $0.0014 - the high of the day, and meandering down from there to close at $0.0012. I didn't take a chomp out of that setup, either.
CCTC still looks like a good play. In many respects it's a classic “Pristine Traders” trade setup. Stock in an uptrend, pulled back to support at the 20 MA. (In this case the 20 MA is indicated in red.) Note also the confluence between the pivot point and the support at 20 MA. Watching closely.
JADA daily did not inspire me.
Finally, someone asked about CBCR. Rising RSI, apparent bull flag, bump and run on the MACD. . . I didn't buy any stocks this morning, but I certainly didn't sell this one either! If it looks just right, I may scale in a little more. I'm following the fundamentals on this issue closely. You should look into this one one closely, and follow it daily. This one has great potential.
Opinions come without any warranty.
Monday morning - after the open - is when I like to buy. By that time I'll at least have the number of trades at otcmarkets.com to gauge market interest, even if full Level 2 is missing. This often means patiently waiting until 10 - 10:30 AM before making a move. By now you've probably figured out that I like to watch a maximum of about four to or six stocks closely during this period.
The two newest additions are KING and DNNC.
CCTC is a strong contender, as it is in a clear uptrend and an orderly pullback to the 20.
JADA (weekly) also looks hot to trot.
Also watching MDFI (pulling up against resistance at 200 MA for a week now, as well as LBAS, MSLP, CBIS, and RTGV for a possible breakout in one direction or another.
There are many others, but these will provide the focus of my attention on Monday morning.
"Oh, by the way - which one's pink?”
Ecumenical Easter holiday greetings
Google has no Easter doodle, today. I wonder what's up with that? Surely a bunny, some tulips and colored eggs shouldn't offend anyone?
In any event, allow me to begin with this lovey image adapted from Wikimedia Commons.
Source: http://commons.wikimedia.org/wiki/File:Easter_Sunday_2009_-_Botanic_Gardens.jpg
Meet KING. This is one of those weird companies that doesn't really do anything, but it plans to merge with or outright acquire one that does. Well, apparently they've been busily engaged in finding things to do. From an March 28 release: “KING's management would like to take this opportunity to advise its followers that the company intends to operate two separate and unique subsidiaries. A primary and a secondary subsidiary. One being the Grid Grabber as previously announced which will be the company's secondary subsidiary. KING management anticipates to be in the position to announce the primary merger candidates shortly as well. The primary operating subsidiary will either be a South American lithium mining company or a North American mining company.”
According to an April 5 release: “management is pleased to announce that it has completed the merger with Grid Grabber (www.gridgrabber.com). Simply put, Grid Grabber powers up when hydro is at its cheapest rates and then supplies it to your needs when it's at its most expensive. Grid Grabber is environmentally friendly, and clean. Grid Grabber offers daily saving without change in usage. No more black-outs. No more high Hydro bills with Grid Grabber. More details and additional releases will follow on Grid Grabber activities.”
So, the company is now actually doing things, and the market seems to have noticed.
The daily chart breaks out of a flotsam and jetsam base, forming candles that may be read and interpreted. MA 50 crosses MA 200, presumably garnering the interest of traders who look for such events. It pulls back to support in an orderly manner, and is now heading for a primary pivot point. Indicators indicate that it's doing all the right things for the right reasons. Indeed, trading volume was 51.4 million shares.
The weekly chart is also rather bullish. Our indicators have bottomed out, and risen. Price is moving toward pivot R2. A prior test of that resistance point tossed the price back down to P, from where it rebounded like a superball.
King Resources. Currently on the Pick Sheets with a sign.
OMVE - makin' bank.
Good for you. man! Remember your next zone of resistance is where the 200 DMA and R2 converge. If it looks like a major tug of war is going to take place there, cash in. You can always buy back into it again when it sets up just right again. That the RSI is as high as it now strongly suggests a challenge at/near 200 DMA.
What happpened to my investment? (The SEVA story)
It all started with underwear in 2002. Ames, the local department store, was shutting down.
North County Public Radio on the Hackett's story, and of Wells Fargo's role in bringing aboit its' ultimate demise.
http://www.northcountrypublicradio.org/news/tags/hacketts
http://www.northcountrypublicradio.org/news/audio/news090916f.m3u
DNNC - $0.0012
Pizza for lunch, anyone?
It's a good thing that my ex stopped by with a wonderful pie from our favorite pizzeria last night. Three luscious eggplant laden slices await me. That saves me a trip to Canada, where modern-looking Pizza Donini working on expanding its brand recognition through franchising.
The story is: “”Pizzacorp DTC Franchises Inc, the Canadian franchisor of the Pizza Donini trademarks, is a full-support franchise management company in the Greater Montreal area, Quebec, Canada that currently supports two (2) Pizza Donini delivery restaurants with limited seating of between 40 to 50 seats. The Pizza Donini line of products is known for its distinctive, slightly spicy Italian pizzeria quality and is prepared with the freshest possible ingredients. Our concept has always been based on the right combination of traditional and new ideas. Pizza Donini restaurants feature a warm, friendly atmosphere in a casual setting with outstanding customer service. All franchisees are supplied with Pizza Donini’s proprietary recipes of dough and sauces, thereby ensuring superior and consistent quality and eliminating time-consuming preparation procedures and waste at the retail level. All delivery orders are processed through a central delivery number and all manufacturing and call center activities are outsourced. In addition to the proprietary recipes for sauces and dough, the franchisees are supplied with the balance of the products called for in the menus, from designated suppliers, thereby ensuring consistency throughout the chain. Pizzacorp DTC Franchises Inc, plans to expand its operations in the rest of Canada.”
Sounds nice. For sake of comparison, Papa John's (PZZA) (God - that's some awful stuff) closed at $37.51 on April 5. Domino's Pizza (DPZ) closed at $36.33, Bravo Brio Restaurant Group $20.45. and Pizza Inn (PZZI) came in at $4.64.
Donini Inc. has the kind of chart I hate. It meanders sideways, with apparently little to no market interest, and then KAPOOM it starts from normal price bars on volume, parking it self about two critical moving averages, with the potential of a golden cross looming ahead, no less. But it doesalso an attractive price of a mere $0.0012 per share.
The weekly chart looks equally as interesting, with price having handily penetrated bot the primary pivot point, but the first level of technical resistance as well.
//www.pizzadonini.com/
"It's like when cockroaches appear: You're never quite sure how many are out there," said John Manley, chief equity strategist for Wells Fargo Advantage Funds.
Ha-ha, indeed. Talk about the proverbial pot calling the kettle black!
http://www.npa-us.org/news/des-moines-reigster-cci-meets-wells-fargo-executive-then-marches-downtown-offices/040212
http://showdowninamerica.org/files/payday-final-091410.pdf
http://www.npa-us.org/downloads/truthaboutwellsfargo.pdf
http://computerworld.co.nz/news.nsf/security/jp-morgan-boa-and-wells-fargo-sued-over-fraudulent-mortgage-it-system
Midweek stock scan.
My car broke down today, and I had to take a cab ride home. Boy, that was fun. Now, to unwind a bit, let's do a quick midweek scan to see what's doing.
MSLP - Pullback right to support on the pivot point.
LBAS - Seems poised to provide another nice breakout (weekly chart).
CBIS - Seemingly poised to test resistance at R2 on the weekly chart. Plenty of volume behind it.
RTGV - Caught in a tight triangular formation, with the price wedged between pivot point P (above) and the 50 DMA below. If a position is to be taken, it will be in the direction of the breakout, if volume provides support.
ATYG - Rising on ridiculous volum eof 114895704 shares as of 3:15 April 4.
ITLI - Something must have happened in the outside world. Currently up 1,900 percent at time of posting. (Not a typo.) May be a pump n' dump, or a short covering rally, but it certainly bears watching.
CCTC- Another potential rising star, now in pullback mode.
JADA - Very interesting.
Well, I feel a tad less inclined to reach for an Ativan, now. How's your day going?
OMVE
In message # 2161, I plotted a channel, with resistance then projected ay being in the area of $0.20. I also said that “a tug of war may be about to ensue between the bulls and the bears. This may result in a pullback or stalling along the way to your targets.”
This is the chart that I'd posted in that message.
Sure enough, the stock hit a high of $0.188 before pulling back, as anticipated. This is how it looks on today's daily chart.
At this point, I'd refine the projection to between $0.20 - $0.188 as being the breakout point out of the channel. I'd wait for this pullback to do its thing, and wait for a solid close above the now obvious resistance point in anticipation of a charge toward testing the obvious resistance at the 200 DMA, while bearing also in mind the resistance points on the weekly chart.
Stay on top of the news if you're playing a stock at this level for more than a couple of days. All it takes is one ill-timed press release with bad news to derail the setup.
Still on the HBRM ride.
Double your money - sell half. Heaven only knows how many times and in how many books and magazines I've read that. And that's just what I did. Now I'm playing with the house's money!
But, I had four other stocks on the watch list for Monday's open. That I didn't buy into them is every bit as important as that I bought into this one.
Philosophy mode on: There's a certain threshold of certainty that develops during the first hour of Monday morning trading. One of my favorite artists was the late Charles Mingus. I "googled" for the quote, but could not find it. (http://www.google.com/#hl=en&sclient=psy-ab&q=mingus+music+theory+just+play&oq=mingus+music+theory+just+play&aq=f&aqi=&aql=&gs_l=hp.3...726l8797l0l9240l29l23l0l5l5l1l466l2821l15j6j1j0j1l28l0.frgbld.&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=3c17bac594aba933&biw=853&bih=412)
But as best I can remember it, the gist of it was: first learn your music theory, get that all under your belt, then forget all that shit and just play. Nothing to do directly with the markets, but a lot to do with my personal philosophy, and this is reflected in my trading: http://mingusmingusmingus.com/
Picture credit: http://www.jazz.com/media/247
> Are you guys able to see L2 for RENU?
Negative. OTCMarkets.com has one of the dreaded signs showing, with a warning.
Level 2 is also unavailable for HBRM, although it has a seal of approval.
What I did was open two of my broker's windows and carefully watched the bid/ask spreads, the prices, and the volume. The end result was that I was up over 130 percent in HBRM by the end of the day. I sold half just before the market closed. I'll be watching it very carefully tomorrow morning to see whether or not to let the rest ride.
Agree RENU is worth watching.
What I'd like to see is a strong close above the 200 day MA, which may be about to be tested. To be more clear, I'd like to see the price close with at least half the length of the body of the candle over the 200 day MA. I'd also like to see this happen on a burst of volume.
The price is just a hair above the 40 week MA at this point. That is a good indication.
Early morning activity
I was up early, watching the order flow, and watching the charts on multiple time frames. Here are the results.
ATRN - Looks like support is going to hold. Watching and waiting.
RTGV - Still consolidating - not terribly inspiring a start.
HBRM - Talked to me minutes after the open, and I'm now up over 45 percent in one hour!
LQMT - Gapped down on the open, dropping below support at 50 day MA. Needless to say, I left that one behind.
MJNA - Continues to channel sideways. Still watching.
April showers bring May flowers.
In trolling for setups this weekend, I'd set myself the goal of finding five promising plays. Here are the setups.
ATRN
Description: Atrinsic, Inc. operates as a direct to consumer Internet marketing company. The company sells entertainment and lifestyle subscription products direct to consumers through the Internet. Atrinsic posted a loss of $4.52 million for the three-month period ended September 30, 2011, compared with net loss of $6.15 million reported for the three-month period ended June 30, 2011.
In late 2011, Atrinsic voluntarily delisted its common stock from NASDAQ, in part due to the Company's non-compliance with the minimum stockholders' equity requirement for continued listing on The NASDAQ Capital Market.
News: “On March 29, 2012, Atrinsic, Inc. announced that it will not be filing its Annual Report on Form 10-K for the fiscal year ending December 31, 2011 and will also cease filing future reports under the Securities Exchange Act of 1934, as amended. As a result of this decision, public information about the company will be limited significantly going forward. “
See: http://biz.yahoo.com/e/120330/atrn.pk8-k.html
Technicals: What I like: Weekly pullback respecting Fib levels. Possibly setting up for another upward thrust. Don't like the current divergence between OBV and Acc/Dis.
-----
RTGV
What they do: “RTG Ventures offers Music & Entertainment Technology Solutions and Digital Marketing Services. Harnessing the strength of its digital marketing agency, that has a trusted reputation over the last 8 years, the company has applied its knowledge process in developing cutting edge technology platforms for web, mobile and tablet devices.”
News: “NEW YORK, March 30, 2012 /PRNewswire/ -- RTG Ventures (OTCQB: RTGV) continued its negotiations with a target acquisition company which controls multiple platforms in Los Angeles. All parties continue to be governed by NDAs which means no details can be provided to the public until an agreement is finalized including all professional advisors' input.”
Setup on the weekly is somewhat similar to that of ATRN. Bottom is strongly suggested. Currently pulling back. Targets are Pivot point P, just above weekly MA 40. Volume is high.
-----
HBRM
What they do: “Herborium Group, Inc., a Botanical Therapeutics® company, focuses on developing, licensing, and marketing proprietary, botanical based medicinal products to consumers and healthcare professionals. The Company uses clinical validation to establish and maintain a differential advantage. The company sales its products in the US and Europe. For more information, please visit www.herborium.com and www.acnease.com. “
News: “TEANECK, N.J., March 16, 2012 /PRNewswire/ -- Herborium Group, Inc. (HBRM.PK) announced today that it will make a major announcement on April 6, 2012 regarding its business 2012 expansion and new revenue streams through adding new Market Venture to Herborium Group, Inc. This new venture with over $150 billion market potential may be regarded as one of the most significant developments in the Company's history and is expected to have a defining impact on its growth.”
Setup on the daily chart is pulling back, possibly setting up for a run to pivot point P. OBV, Acc/Dis, ChiOsc in harmony. Volume high. Price is above 200 MA, and a possible golden cross may be forthcoming.
-----
LQMT
Says here: “Liquidmetal Technologies, Inc. is a materials technology company that develops and commercializes products made from amorphous alloys.” That's easy enough to understand.
News: In a March 30 release, it says: “Liquidmetal® Technologies Inc. (OTCBB: LQMT) today announced its financial results for the three months ended and year ended December 31, 2011. The Company reported revenues of $0.25 million and $1 million for the fourth quarter ended and year ended December 31, 2011, respectively. Furthermore, the Company closed out the fourth quarter with an operating loss of $1.7 million and $6.5 million for the year end.
“Mr. Tom Steipp, President and CEO, commented, 'Liquidmetal Technologies has reached an important milestone enabling it to realize the benefits of its partner relationships. By the end of 2011, we are now able to source alloy feedstock from Materion, process our alloys using next generation molding machines from Engel and manufacture commercial parts at our contract manufacturer, Visser Precision Cast. Looking forward, we will be working with our partners to scale up these production capabilities while engaging with customers in aerospace, medical, sporting goods and other industries.'”
Weekly chart suggests bottom in the making. Recent test of resistance at 40 week MA.
Daily chart shows price bouncing back and forth between MA 50 and MA 200, which has yet to be penetrated. Pivot point P providing strong support. Now testing resistance at P1 with 200 MA standing between the price and P2, which provides intermediate term target.
-----
MJNA
The news says: “SAN DIEGO, March 22, 2012 /PRNewswire/ -- Medical Marijuana Inc. (OTC Pink Sheets: MJNA) is pleased to announce an update for shareholders of recent corporate activities and events. Numerous transactions are in various stages of development, negotiations, closing and integration that will have a significant positive contribution to the Company's bottom line. The company has been finalizing the purchase of a portfolio of patented cannabinoid based products as well as several pharmaceutical grade cannabinoid delivery methods which make for a more sociably accepted method of consuming medical grade marijuana products.
“Regarding the previously announced proposed acquisition of PharmaSPHERE Systems, LLC the Massachusetts based biotechnology and pharmaceutical grade medicinal herb company, we have finalized our negotiations with the company and will announce next week the positive results of the transaction.”
What the weekly chart says: Strong thrust above MA 40 on high volume, and holding strong ever since. Pivot point “P” provides a short term target. Largely a question of watching and waiting for a clear breakout in either direction.
Disclaimer: These are interesting technical setups that I personally consider to be worth watching. These are not recommendations. Due diligence is your responsibility.
Best of luck to all as we turn the page on the calendar from March to April, today!
[Opinion] IPO Central - BNNY
Everyone knows what pasta is, and there's no doubting that most people like it.
Most people know that pasta comes in a wide variety of both shapes. . .
. . . as well as a seemingly endless variety of colors, some of which appear to have been designed by highly advanced visual/culinary artists.
Pasta is also being offered by seemingly as many brands as there are varieties of shapes and colors.
Pasta is so ubiquitous, that one hardly even has to look to find it. It's available almost everywhere we go.
When we enter one of the larger supermarkets, pasta seems to span mile after mile of shelf space. The options sometimes even threaten to confuse and overwhelm the shopper.
For those of us with special dietary needs, we also have low gluten pastas, low sodium pastas, whole wheat pastas, high fiber pastas, low carbohydrate pastas, as well as a variety of other heart healthy pastas from which to choose.
An endless variety of sauces and recipes also await you once you have selected your particular variety of pasta.
Yes, this leads us to yet another IPO. Meet BNNY. BNNY stands for Annie's Inc. “Annie's, Inc. produces and supplies natural and organic food products. The company provides macaroni and cheese products, pasta meals, snacks, breakfast cereals, salad dressings and oils, BBQ and condiments, special diets, crackers, cookies, frozen pizzas, pretzels, and T-shirts. It markets and sells its products through grocery stores, natural food stores, mass merchants, and club stores in the United States and Canada; and online. The company was founded in 1989 and is headquartered in Berkeley, California.”
That's right: "It's simply better."
Hot off the IPO press, and having closed at $34.84, meet the potential short of the year. Not much of a trading history, hence not much of a chart to look at. In this case, common sense ought to prevail.
What the world needs now is another brand of pasta products? I say, "give me a break."
Not a bad week at all.
Among the winners was MSLP. Bought the breakout over MA 200, sold near the end of the day on Friday. That simple. May revisit it again next week, because the weekly chart shows great potential.
No secret that I'm bullish on CBCR. See my pre-market posting on Monday, # 2140, and my rationale for having held on during a recent pullback in # 2145 & 2146. Could have locked in 65 percent at its peak, but I think it will do better than that over time. Still, I'm up about 35 percent in a week, which is not too shabby. Management has done nearly everything possible to keep this bank afloat, including divesting itself of multiple other regional bank holdings. (I spent all of last weekend studying this particular banking story, and there is enough great material here to make for a book! (What that ultimately bears on the stock's price remains to be seen).
Still holding SNDY. See rationale in # 2076.
IDOI is beginning to look very attractive to me. This stock had me up 1,000% a couple of years ago. (It was all just so amazing!) Then it flatlined, reverse split, broke down, and then broke out upwards over the flatline. Watching this one very closely, now. Here's the weekly chart graced with Heikin-Ashi bars.
Closely watching VPER, CCTC, CBIS, KMAG (now that I know something about it - many thanks to babuji), PRKR for a possible bounce, TXTM lookin' fairly good, SUFF & ENLG seem to have staying power. All bear closer scrutiny.
Still waiting for SMKY to make a move. Volume has been very low, lately. FRHV almost got me, but I broke out fast and only lost a few points. Now it looks as if the real bottom may at last be building.
I should have bought XOMA, but I didn't. I was eyeballing REVU, now it's being delisted and bought out by a private equity firm. Glad I didn't buy into that one! Another paradigm shift as yet another once respected publicly traded firm gets gobbled up by a private equity firm.
Long term holds I'm still happy with. I've mentioned some of them before. LBY, CAR, RUTH, SIRI.
OMVE
OMVE may well be conceptualized as a potential channel breakout in progress, with the first line of resistance to be penetrated being the top of the channel, as displayed below. Expect resistance at that point, at the 50 MA, and of course at the first major pivot point.
In looking at today's linkable daily chart (http://stockcharts.com/h-sc/ui?s=OMVE&p=D&b=5&g=0&id=p19087159758) it appears that a tug of war may be about to ensue between the bulls and the bears. This may result in a pullback or stalling along the way to your targets.
Here is a snapshot of the 60 minute chart, which shows the upward bias, and the minor tug of war in progress.
The live chart may be viewed at http://barchart.com/chart.php?sym=OMVE&style=technical&template=&p=I&d=X&im=60&sd=&ed=&size=M&log=1&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=RSI%2814%2C0%2C100%2C10079487%2C10040064%29&chartindicator_2_code=RSI&chartindicator_2_param_0=14&chartindicator_2_param_1=0&chartindicator_2_param_2=100&chartindicator_2_param_3=10079487&chartindicator_2_param_4=10040064&addindicator=&submitted=1&fpage=&txtDate=#jump
This is truly an intriguing setup.
See also my comments in message # 2113.
BUTLQ - KMAG & Others
You know - those stocks listed as Caveat Emptor on OTCMarkets. No level 2 information is available about them, so you can't see who's bidding, buying, and selling. There is no "tape" to read.
I some cases, you can't even get good charts of 'em. E.g., Stockcharts will not pull up a chart for BUTLQ, however it will pull up KMAG.
Pennystockotc shows a large spike on the chart. According to Barchart.com, BUTLQ ramped up to attain a height of 300%. This was not a single aberrant transaction. Rather the price ramped up over several minutes, after which the bottom fell out of it. Was the price deliberately ramped up? I really can't say, because I can't see the order flow. Here is a snapshot of the 10 minute chart:
KMAG - also a Caveat Emptor stock - may be charted at Stockcharts. It has been a monster stock for some weeks. Anyone who'd have caught the entire run would quite nearly have landed a ten bagger.
The companies both appear to be legitimate. What to do?
http://www.butler.com/Home.aspx
http://www.kmaglobalsolutions.com/
Here's my take on CIGX.
Price has fallen to find possible support at MA 200, which also very closely corresponds to a critical Fibonacci support level. It the market continues to support this price level, and the stock begins to rise off it, you should be good to go.
If, on the other hand, both of these support levels are clearly violated, I would immediately close out a long position.
Bear in mind also that unexpected “bad news” from the outside world can derail even the best of setups.
Perfecting Fibonacci
Constance Brown, author of several books on trading, reminds her reader that when applying a Fibonacci grid, it is often necessary to truncate the outlying spike on the chart.
In the case of CBCR, yesterday's high was 0.43, however the top of the candle (the open) was 0.40. When the grid was applied according the her methodology, spanning support at 0.14 and resistance at 0.40, the result was an absolutely precise retrace to support at 0.24 at the 61.8% Fibonacci level.
Here is a chart with the Fib grid aligned exactly as Brown suggests.
CBCR pullback
This morning I am thoroughly enjoying monitoring the daily, the multi-munute charts (down to the one minute chart), as well as the level 2 montage on CBCR.
Ridiculously lowball bids of $0.05 by Rodman and Renshaw, and Puma Capitol were ignored by the market. Slightly better lowball bids from Citadel Securities, E*Trade, BTIC, Mercator Associates, Raymond James Associates, and Cantor Fitzgerald were also ignored, with support so far holding firm at $0.24. As of 11:43, Knight Equity Markets bid $0.265. The best ask at the time was from Collins Stewart, coming in at $0.31. As of lunch hour, the best bid/ask is $0.27 / $0.33.
This pullback was entirely consistent with Fibonacci retrace levels. So long as the market continues to support $0.24 as the floor, this may be all the pullback that we'll get.
Level 2: http://www.otcmarkets.com/stock/CBCR/quote
1 minute chart: http://barchart.com/chart.php?sym=CBCR&style=technical&template=&p=I&d=M&im=1&sd=&ed=&size=M&log=1&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=RSI%2814%2C0%2C100%2C10079487%2C10040064%29&chartindicator_2_code=RSI&chartindicator_2_param_0=14&chartindicator_2_param_1=0&chartindicator_2_param_2=100&chartindicator_2_param_3=10079487&chartindicator_2_param_4=10040064&addindicator=&submitted=1&fpage=&txtDate=#jump
MDFI coming to life.
Probable impetus is this news announcement: http://finance.yahoo.com/news/medefile-announces-global-expansion-led-123000835.html
I made a killing on this stock a couple years ago. Maybe it will happen again? Time will tell.
http://www.medefile.com/
Like stocks that gap? Have a look at FXI (The Ishares China ETF), China Life Insurance (LFC), China Telecom (CHA), China Eastern Ailines (CEA), and China Southern Airlines (ZNH).
To this day, I have been unable to figure out why foreign stocks act that way. Check out FXI on the 15 minute chart. Doesn't it resemble birds in flight? Talk about poetry in motion!
http://barchart.com/chart.php?sym=FXI&style=technical&template=&p=I&d=X&im=15&sd=&ed=&size=M&log=1&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=RSI(14,0,100,10079487,10040064)&chartindicator_2_code=RSI&chartindicator_2_param_0=14&chartindicator_2_param_1=0&chartindicator_2_param_2=100&chartindicator_2_param_3=10079487&chartindicator_2_param_4=10040064&addindicator=&submitted=1&fpage=&txtDate=#jump
Probably just normal profit taking. If I were sitting on the top of that parabolic run on a Friday afternoon, I'd have at least taken some profit off the table. It was followed by a couple of buying bursts a couple minutes later.
http://barchart.com/chart.php?sym=INFI&style=technical&template=&p=I&d=L&im=1&sd=&ed=&size=M&log=1&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=RSI%2814%2C0%2C100%2C10079487%2C10040064%29&chartindicator_2_code=RSI&chartindicator_2_param_0=14&chartindicator_2_param_1=0&chartindicator_2_param_2=100&chartindicator_2_param_3=10079487&chartindicator_2_param_4=10040064&addindicator=&submitted=1&fpage=&txtDate=#jump
Tell me I didn't nail this one spot on. Up over 157% this week!
http://stockcharts.com/freecharts/gallery.html?sndy