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I understand the business model. And that the best way to close an order is sell at bid or below and buy at ask or above. I teach that. It's just hard for me to feel the darkside and I share the same philosophy. I'm starting to feel a little dirty, being with the same company as a VC. But I'll still keep taking the sheep's wool, when it's available.
Thanks everyone for updating the old mans info.
Since PMCM has had the Asher curse work on the last PR and has funding $250k cash for the PR asset purchase agreement. You may be seeing a new trench. LOL
I actually love Asher in the sense that he will beat a stock senseless and offer deep discounts if you can calculate in between tranches
As I just posted, I can't argue, to many up to date on daily OTC trade activity, came to the same conclusion for Asher. But while my examples may need some adjustments, basic game theories are still active. I did notice while watch PMCM there didn't seem to be an AX M&M for the day. Have any of your guys noticed a favorite M&M for Asher plays? This would be nice to know. Or do they just manipulate the bid stack with various trade accounts with different brokers.
Have no idea why I ask that, because I don't plan on day trading any more then normal. And now plan to just stay away from anything Asher. But the gum shoe in me, thinks it would be nice to know if Asher uses the same M&M all the time. I use to know that type of info.
I've also notice my Temp Job timing needs adjustment. As all the resent pot plays are turning around in a 1 1/2 month cycles now. Not 3 months. The pattern is the same, timing shortened.
We have my favorite OTC/Big boards problem; terminology. Dilution is when Asher gets the shares, What your talking about is bid whack dumping. Bid whack dumping is a technique to get price lower for entry. Just like ask pump buying is to get price higher to sell. What I talk about is ask pump buying. Dumping large amounts of held shares into the market is not dilution. IMO it's stupid. And for some reason I don't think big guys are stupid. Why drive the price down when selling or up when buying. I would drive price down when buying and up when selling.
This whole Asher subject, is counter intuitive to me.
But either way, to drive price up or down, thru large bid selling or large ask buying. It's manipulation when it happens in the open market on the OTC.
I still have trouble, even with a tin foil hat on, understanding why a greed driven entity would take less then they can get. I mean there is just as much greed on the big boards, but there institutional and money managers try to stealth dump/accumulate in various ways, to conceal moving out/into a large position. There is no financial benefit to driving price up when entering or down when exiting or covering. For the entity trying to make money.
I can't argue it isn't happening with some of the VCs you guys have pointed out. But since I've been out of the phycology loop of day trade manipulation, I have to take it with a grain of salt it is happening. Just can't justify the logic. I thought I was the only trader happy with what I get. To think a greed driven big guy is actually thinking like me, after years of the opposite, is hard to except.
It's like all of a sudden pennylanders are buying the ask and actually selling in runs to take profits. Just hard to believe. But here I am with 3 or 4 people who's experience level and opinions I respect, saying greedy big guys are starting to think like me. Happy with what they get. Bid by bit reaches goals safely.
Didn't really want to get into the manipulation & signals, but agree; no matter what one thinks is happening in a fast trading stock, there is always someone behind the scenes releasing propaganda in the level 2 and trade close sequences and reporting. To get what the big guys want.
I use to live with a tin foil hat on my head, when trying to recognize signals day trading every day. Got pretty god at it, 75% of the time. LOL
So I'm correct CEDE & Co holds broker, broker/dealer, market maker, institutional and private/retail crets. Shielding us tin foil hatters from ever knowing ownership and who's buying or selling what. The DTCC just clears volumes and Cede expects companies to balance share structure in Q reports and transfer agents to shift cert ownership and size from the daily transactions, Cede gives them.
This is sounding an awful lot like the MBS market (Mortgage Backed Securities), which imploded due a un-clear path of ownership. LOL God bless us all. LOL
I really should do a post on day trading fast moving stocks. But am not 100% sure what I know is still accurate in todays atmosphere. Plus I don't want to pass on the thought I recommend day trading the OTC. But if they just knew the basics, maybe it would help some.
For now all I'll say is the bid/ask stacks are the most important thing to watch day trading, right after time of day, for large reversal points.
If the bid inside has more M&Ms then the ask inside, consensus is down. Inside means the number of M&M at bid or ask. Next the inside size at bid is larger then ask, will imply how long down lasts. This you watch the time & sale s for.
Keeping an eye on the outside bid/ask levels will also support sentiment switching, as it fluxes larger or smaller,below or above best bid/ask.
Knowing how many M&Ms have a misbalance at bid/ask and the size of that misbalance, one can project reversal or buy sell points during the trading day. As for timing rush hour 9:30 to 10:30 usually trends then reverses, Then 10:30 to 11:30 the trend will settle mid price swing for lunch. After lunch expect the same trend as open and reversal into the days close, but at half the price swing size.
Timing will offer 2 trades a day morning and afternoon. And bid/ask stack watching will offer several smaller trades, during morning & afternoon trend or mini flags to play. Time & sale will help with duration/determination as stack size gets closed one sided or in waves.
The above will help understanding sentiment, consensus and duration of trend. There now readers have the basics of day trading a fast moving day trade tsock.
Maybe you can comment your thoughts on The scourge of clearing. Cede & Co the holding trust covering up ownership. As I understand it, they only report lump stats to the DTCC and actually own the stock for their nominees as it's put.
They hold most of PMCM and since PMCM has raised their A/S from 5 bil to 25 bil, expect will hold much more soon, as new Marijuana business funding starts.
PMCM as of February 13, 2014
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9793556
Cede & Co.
P.O. Box 20
Bowling Green Station, NY 10004
3,614,701,341 common OS 4,835,821,341 issued
74.75% Class Owned
30.54% voting power
Ps; Asher only held 300 mil
6.20% as of Feb 13.
I haven't day traded the OTC for some time and yesterday I planned on day trading PMCM, now knowing it an Asher stock.
While watching what was going on till noon. I saw what you explained in the time & sales, constant bid whacking price lower. At the time I thought it was a VC putting a bottom in. Because I didn't know this 25 to 40 mil bid orders were Asher's technique. The level 2 was so obvious when they planned to dump. You would see the bid stack get very large, wave after wave, driving the price down as M&Ms chased the volume.
I notice most of the volume came, with the large block orders closing in the time & sale late, when I checked back. And as for block orders closing from no where, it happened many times. No change in bid stack before a 90 & 10 mil block closed at bid was a wonderment. Forgot how deceptive the OTC market could get. LOL 100 mil shares showing up from no where to close. Amazing there should be some naked short covering next week.
Also see the OTC pennylander still have no idea how to trade in a fast moving stock day. They load up the bid, wanting to save .0001 on hundreds of small orders, expecting the price to climb. Then cry about a big guy bid whacking the price down. Dumb asses. How the hell can the price rise, if they are not buying at ask and spending that .0001 to cause it to continue up. Just drives me nuts the level of understanding these people have. Glad I'm not day trading the OTC for a living any longer. My experience yesterday was an eye opener I forgot about.
I hold a small starter position @ .003. What you do is your decision. I teach preserve capital and have a trading plan before you enter. With gain and loss levels to sell at.
To be honest, I don't like the darkside didn't support continuation. But do feel it's early in PMCM's game. So I'll probably hold. Personally not much cash involved. Which I plan to gamble for a while. If I got .004 and owned larger, I'd take my loss as quick as possible. Which would have been yesterday.
So it seems that the venture capital firm; Asher is one of the darkside which doesn't create runs. And has a business model of get dirty, rinse, then wash. Buy shares, convert, and dump, not run.
Thanks everyone. Nice to know.
Looks like retail has given it a new true value of .80. I wouldn't do anything about it.
M&Ms are chasing volume today. I've seen lots of up side signaling today, and several 25 to 40 mil bid stack bottom holds. But as long as the herd wants in lower, I expect M&Ms will continue to fill them for volume fees. Rush hour is over and even though most accumulation is below yesterdays close. I have not actually seen any of that accumulation trying to be sold higher yet.
Rush hour evaluation, .004 isn't looking strong. Lets see how the pre lunch hour looks. May see some accumulation for sale higher. Want to see ask build larger. And bid smaller in the stacks.
10 block orders over 5 mil closed, .003 and above, they should work to get things higher. We'll see.
No thoughts, no history.
LOL exactly what I just added to my PMBS post.
A fake out is always possible on any breakout. Especially if news generated. To reduce concern one can raise entry level above break resistance, to insure a solid break. Say .0036 top resistance, where previous candle bodies reached.
I do this often on the OTC. I look at the average daily price swings over a few weeks or month and using average swing to place my breakout entry, that much above break resistance. To protect against fake out.
Using that, it looks like 2 tics is about average and 2 tics above .0032 to .0036 top resistance. I would be comfortable there.
Another thing I should mention is the ascending triangle pattern itself is a sentiment indicator of over all retail expectations. As the lower trend line implies less and less negativity, building after 2 or 3 touches at top before breakout. Looking at resent volumes in the last wave up I notice much larger volumes on green days. So this 4th attempt has some good sentiment support behind it.
First time I've ever heard of Asher or any VC happy with a debit conversion discount. Humm ? But I don't daytrade the OTC enough to know what's going on now days. But finding a VC that's happy with a 45% gain from a 10 day VWAP discount seems counter intuitive to me, when most dark runs are 5 to 10X.
By the way I teach to bid whack when exiting a fast moving OTC day trade. When one makes the decision to take profits and exit. I say exit, don't get passed by trying to squeeze out every last cent of gain. This has served me very well over the years. And I recommend it to all day trading hot day trade stock plays. Buy above ask, sell below bid, be first closed, in and out. And be happy with what you get. Don't get caught in the trading queue waiting to close your order. You often get passed by and need to update jumping in and out of line.
PMCM
Yea yesterday I posted about .003 for small entry and .004 for larger entry. And one of my standing buy orders closed. Since this one is 100% pot emotion manipulated I won't depend on the flag or any other logical reason to trade.
My personal plan is sell all at top resistance and be happy if I get it. For all I know the 1.5 bil traded today will empty the dark masters inventory. I will take less the second I see exhaustion.
Will the huge manipulated gap fill. SURE, but not till after price reaches ridicules levels and the darkside is sold out. I'm guessing.
Board is getting cluttered up with heads ups about pot plays. Please try to keep this to a minimum, as there are plenty of other boards one can hype their next hot pot stock.
I don't want this board to become a standard attention to the next hot stock board.
This board is mainly for education, not stock alerts. If one has a reason posted with an alert fine. But lets not just post XYZ is hot or next or my pick.
Clutter causes a board to become worthless as readers can't find what they came to read. I'm sure readers frequent alert boards and won't miss the next hot pot play without it being here.
Thanks.
Looks more like bottom accumulation to me. Which is also a good indication in some cases.
Think of it this way. Someone buying large at low prices could eventually cause a manipulated run to sell those shares for profits later. The thing to keep in mind is are the shares accumulated big enough to cause a large run. Is the entity involved big enough and determined enough?
Bottom accumulation can be bottom fishers, insiders pre darkside play, or a trading group. Bottom fishers don't create runs, trading groups create pops and insiders wait for VCs to act. So buying because of accumulation is high risk. You don't know who is involved. That's why I say play after, not before breakout. But accumulating a small starter position it not the worst thing one can do. In most cases worst case is tying up cash and possibly taking a small loss if play doesn't come to be. Basically you become a small bottom fisher.
Pro bottom fishers divide up their portfolio in 5 to 10 bottom stocks and hold for a bounce. If done correctly 2 out of 10 pops can produce overall gains to ones portfolio. It's all in the numbers and how tight you plan your trades. But it can be a successful trading style.
The smallest gain is a success, and smallest loss failure.
The name of the trading game is, to have more wins then losses. Not the largest gains.
Hope all learn to take profits when they present and re-enter with gains protected on any continuation past top resistance. This means re-entry with the same amount played the first time and banking gains already gotten.
The thing to keep in mind with this is parabolic runs offers no top resistance. Thus re-entry in a parabolic run has a higher risk of failure then the first entry. Because you never know when the dark master will run out of shares for sale. But if one lets a parabolic run stop, stall or retrace before re-entry. You can see more shares for sale in a second or third wave of selling into that continuation. Confirming the darkside is not done feeding the run.
This is a safer lower risk way to play the OTC game.
Look at MINE today up huge yet another day. Amazing gains I didn't get by holding, or re-entering without a logical reason, but selling where planned. I'm happy as can be with my 100% there. On to the next one. in PMCM now.
Experience has taught me the minute I buy back in a parabolic run for more, it will stop running and DIVE on me. I'm not a lucky person, like some.
So I move along on my merry way from one to the next. not trusting my need for greed luck.
Thanks for trying to calm the raving villagers. I'm afraid the mob is just too large and emotional to instill logic. All we can do is try to help. And start preaching take profits and switch to the next one. Maybe we can keep a few dreams alive.
I have to say to all which heed this plea, don't feel bad about all the money you make by buying low and selling high. Because you put another pennylander into the poor house. It's life on the OTC. Your just making a living off the wool, big guys are the ones killing for mutton.
Do what the big guys do!
sometimes ya just gotta close your eyes, hold your nose and go for it. The whole MJ sector stinks but is on fire and it will be a long while before it cools off.
DYAX
8 mil public share offering at 9.25 caused gap down. Stock price has been climbing since Jan 2012. I'd say gap will fill after offering closes.
Has anyone researched TTDZ share structure? Looking for trench funding? It's really looking like a 3 step, 3 month old school Temp Job now. And I thought it was another pot flash in the pan. Missed your heads up .014 break buying opp, the 14th. Could have picked up 20% there. LOL But I'm watching close for step 3 month 3 now that second flag .0175 target has been reached!!!
http://stockcharts.com/h-sc/ui?s=TTDZ&p=D&yr=0&mn=3&dy=0&id=p28713433491
I have no idea what your talking about. MINE has had no FIBs retracement yet. Until retracement has started there is no way to judge FIBs support lines during the retracement.
MINE is just an out right suckers buying play presently.
Remember the number 1 rule for all trading.
NEVER chase a running stock.
Especially one which is way over due to end. And 10 days green is WAY overdue. We shouldn't even be talking about MINE. Parabolic is just too damn risky. How the hell suckers can buy after that chart is beyond me. It's like watching the Indians running buffalo over a cliff as a hunting style. There's gon-a be a lot of dead retailers soon.
Read back a few posts. Your as lazy as I am.
promo plays
Some are new some not very active.
http://investorshub.advfn.com/Promos-In-Penny-Land-21981/
http://investorshub.advfn.com/OPS-~~OUTSTANDING-PENNY-STOCKS~~PROMOS-&-MOMOS-~~-OPS-26042/
http://investorshub.advfn.com/PrePromoPics-25516/
For comeback plays like FRTD you use a FIBs overlay to judge first retrace bounce target. And use my FIBs rule of thumb. Looks like the best one can hope for there is .018 38% FIBs, if it bounces tomorrow at 61%.
http://stockcharts.com/h-sc/ui?s=PMCM&p=D&yr=0&mn=3&dy=0&id=p59797365882
Actually when trading TA & chart patterns, not darkside plays, on the OTC. My goals are usually 25% gains.
PMCM
is this a good entry??
I was out of MINE before you bought in. In @ .003, out @ .006. And happily looking for the next one. Could care less what I missed !!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98519660&txt2find=mine
PMCM interesting .003 small entry, .004 larger.
Perfect example of why the hell is some holding. Chart wise it could be a pennant or descending triangle depending on the chartists eye.
I personal wouldn't risk my money on any OTC stock which is sooo drawn out. As if there was a darkside with more shares for sale, to cause a continuation. Odds are it would have happened by now.
And left on their own retail usually gets bored and starts leaving after a month or two. I personally would be looking for the next one, not watching something that old.
Happy things are working out. There are many OTC pennylanders which trade promo stocks. Not my cup of tea. I recall there is event a board dedicated to promo plays. You may want to search for it.
My only concern with this trading style is please trade after something happens and learn to sell before all gains are lost. Because what you miss, cost you nothing, but holding for more, that doesn't come, can cost you dearly.
Successful trading comes from finding a trading style which is repeatable. If one finds it, repeat it!
Ps; price ended high with no candle spike and volume increased with 3 days green. Run normally last 3 to 5 days and high candle spikes indicate exhaustion. So there could be continuation still. But parabolic can end unexpectedly.
So your at a decision point. Happy with what you got, or have the need for greed and want more.
Yea People with little cash and high hope on their NEW idea working well, go there first.
The problem is there are no new ideas that haven't been tried before and just 1 lucky win, can get one hooked on their theory being repeatable. Eventually, since these types of people have little cash and trade [all in] on each trade. They end up broke and unable to continue trading long enough to learn how to trade safely, in the first place.
I'll say it again; Greed is good, but only for the big guys.
Once one learns big guys move markets, they have a chance at success by doing what the big guys do. And big guys don't buy and hold runs !!! The buy before and sell into.
It's my OTC trading style to buy in the start of a run and sell quickly at run exhaustion. Being happy for what ever you get. That's repeatable. Bit by bit adds up to the large gains little guys want. Their problem is they want it all at once. And always expect MORE.
Everyone trading the OTC needs to learn to sell !!! Protect gain and re-enter only on continuation past top resistance. Add those small gains up and be happy their still around to do it again.
No idea.
Nothing in my experience explains what's happening at that stock.
It's common to see 100 share trades come in bursts, but that happens, one after the other, with-in a minute or two. And usually in low volume stocks.
It's also common to see small 100 to 900 orders come in over 15 minutes at bid and ask to determine what direction the brokers first order book holds. But not all at the bid and not all 100.