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We don't know yet. The site is owned by Ed Starrs and was registered the same day as the mj-pay.com site for the medical marijuana payment app.
It may be another extension of myEcheck software, or it may be nothing. I like to avoid speculation. However, once it was posted on the board, Ed (or someone) modified the site.
The site was registered February 25, 2014 so only a few weeks. It was also recently updated after being shared on this board:
http://www.mydcoin.com/
I'm very familiar with WordPress. I've built over 50 sites on the platform. It's great for businesses of all sizes.
Here are some notable companies that use it http://en.wordpress.com/notable-users/
The point was more about the domain itself, as the actual site is just the default wordpress setup which can be setup in a minute
Maybe related to Bit Coin, or a digital wallet of sorts...
Those who read my posts know I don't like random speculation, so I won't make too many wild guesses, but this atleast has some substance behind it.
(NEW) Not sure if this DD has surfaced yet
But, Ed Starrs registered http://www.mydcoin.com/ on February 25, 2014. It is hosted on the same server as myecheck.com and mj-pay.com
Here is the WHOIS data, which shows who owns the site: http://www.networksolutions.com/whois/results.jsp?domain=mydcoin.com
You can also see where it is being setup on myechecks website https://mecdb.myecheck.com/mydcoin/wordpress/?m=201402
It could mean nothing, but it could be indicative of future news...
Great call!
Time to see how many shares VFIN is really putting up
That would break Ed Starrs' pattern. I would be happy about it, but surprised.
Are you taking it out?
That's pure speculation. Can you please back that up with some cold hard facts? ;)
The company is definitely undervalued, but I doubt the market will see it that way. Heavy equipment is not a "sexy" industry like marijuana, technology, and biotech. This stock has been undervalued for so many months, but the market doesn't care. Most penny stock traders just trade popular plays; they don't invest in companies.
A lot is riding on that deal. If the deal doesn't go through, I don't think it will break the company, but it will definitely be much harder to run.
True, but that person should have broken up the order. If you're selling 2mm shares you can afford to pay multiple commissions.
It's simple supply and demand. When people see that there are 2 million shares available at that price, there is no urgency to buy. After all, would people line up to buy new iPhones if they knew there were plenty of them?
VNDM moved and VFIN upped the ask a bit. So, that seller is setting us back a bit. I really don't like critiquing people's trading style because we all make money differently, but understanding market psychology is important. I hope that seller reconsiders there order because their shares will be more valuable if they remove that.
lol who puts up a 2 million share block on the ask when everyone is trying to take out VFIN. Come on, trade smart.
MYEC - good dip buy opportunities, IMO. I loaded a few hundred thousand shares today. Do your own DD
VFIN does this all of the time and we still run. It is temporary. Just keep that in mind, stay calm, and be patient.
We don't need news. This is a game run by psychology. Stay calm/emotionless, and you win.
Keep in mind that there is still skepticism surrounding MYEC after yesterday's drop. Just be patient and let the current news sink in.
I'm down a lot of money right now, but I'm still focused on the bigger picture. And, no, I am not a die hard long. I just understand price movement.
Now is your chance
This is how MYEC always trades on news. Like I mentioned before, 40-50% increase in PPS with about 40mm-50mm volume, followed by sideways price action as people wait around to see what happens next. Usually, the sideways action is followed by a run supported by around 20-30mm more volume, which makes the earlier prices look cheap.
Huge blocks on the ask mean very little when you look at the volume. I loaded up down here. The fact that people are not rushing to sell on the bid is a good sign, considering we are up a lot since yesterday.
Be patient, and hit the ask if your situation permits it. Spread the news about MYEC to attract new buyers. That's my two cents.
Of course all of this is just my opinion, but I have been trading MYEC for a long time, and not just holding long so I know a good amount about the price action. Of course, I could always be wrong.
Yesterday, I said be conservative when people were talking about opening at .035 and other crazy things like that. I think a 60-80% gain today is possible, and still relatively conservative, especially because we already hit .029 which is a 60% increase from yesterday.
Our goal should be to close anywhere in the .03s
Just took out another 200k shares at .0238
This keeps breaking out, then consolidating, then breaking out again. The price touched 26 after hours, so that may be my price target, however, I may get out at 24. I watch the price action closely.
It's trading pretty normally right now..nothing too unexpected
Wanna see this move? Put some buying pressure on the ask. Simple as that. If everyone is already long and just watching there shares sit, there's no buying pressure.
Keeping in mind, people who bought yesterday may be happy with their 50% gains. Nothing wrong with that... But once they run out of shares, this has more potential to move. Personally, I am looking for more buy opportunities so I appreciate PPS movement in any direction. I already loaded up on shares, but I could always use more if the price permits it. Once these hidden ask sizes get taken out, I will put more pressure on the ask
Im in on this. Huge volume spike. We are creating new intraday support right now. I think this has the potential to run. We'll see...
This is exactly how MYEC traded on the last PR about the MJ news. Up 40-50% in the morning, some sideways action, followed by a parabolic spike. Let's hope we see that parabolic spike. I think we can get to the .03s, but not sure how much farther we will go after that.
That sounds feasible to me. No reason it shouldn't be doable.
Ask is thin to .03 considering the volume today
Conservatively speaking, I think we can close in the .03s
Give people some time to get adjusted to these new price levels, and new support levels will build, as they are right now.
Im in. Price action is nice. I like the conservative open, and gradual walk up. I think .03 is inevitable
Be conservative.
Bashers really have no reason to bash, as MYEC is doing well.
Longs are over hyping this stock, which may be enough to run, but not sustain the PPS.
The stock was dropping considerably, and then the PR came out. So, let's look at the PR.
First of all, no doubt the PR was good news. Was it amazing news? Not really...
3 main points I saw:
1.Bruce Smith appointed as controller - Who really cares? Companies appoint new people all of the time. This guy only has 53 connections on LinkedIn (https://www.linkedin.com/pub/bruce-m-smith/7/553/b13). Not saying that LinkedIn connections should be used as an almighty metric, but most well-connected business professionals will have a solid presence on the site. After all, Ed Starrs has over 500 connections.
2. Audited Financials coming - This is good news, but we've known this for months. It has been the talk of the board for a long time now, and was already confirmed in the FAQ. The details were nice, but not a game changer, IMO. The CPA company has a 1-star rating on Yelp (http://www.yelp.com/biz/ll-bradford-and-company-cpas-las-vegas). Of course, this doesn't necessarily mean they are a terrible company, but they certainly are not a spectacular company.
3. Plans to uplist - An actual uplisting would be great news. Plans to uplist is nothing special. So many great penny stock companies plan to uplist. Most CEOs want to ring the bell on NASDAQ, but that doesn't mean it is going to happen. As far as I'm concerned, plans mean nothing. Action speaks for itself, so there's really no need to announce plans unless you are trying to build hype as part of a PR campaign.
Be careful of how much you over hype this stock. You want to hype it up? Be my guest, but don't be surprised when the PPS comes crashing down again like it did today. Hype is unsustainable. MYEC will only move so many times based on PRs. If you are flipping, than this is a dream. If you are a true long like so many here claim to be, be conservative. Avoid speculation, gut feelings, gambling, and radical insights. This is the stock market.
Before I am bombarded with defensive messages, keep in mind that I am just trying to apathetically analyze the facts. I am not a basher. I am not a true long. I have, however, been following this stock for months and I'm very familiar with its trading patterns.
I have buy orders in, but they are conservative. I wish everyone the best of luck tomorrow. We all are here to make money, and we will all do so in different ways.
Great post. While my trading strategy is completely different than yours, I respect your views and your emotionless approach to trading.
"True" longs, which are rare, should not worry about daily PPS. In fact, low prices should be considered a positive thing because they allow for more cheap buying opportunities.
I agree that MYEC will probably roll out some huge news this year. I prefer to lock in profits along the way, but there are downsides to that as well.
Good luck to you!
The numbers are in my notes from the conference call where Kevin, the CFO, answered the question:
1bil A/S. 520mm O/S. Management 180mm shares. 230mm float. 288mm restricted.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97321175
I guess so... Good luck to you.
I've done it for months now, and I like MYEC. I just don't see a purpose in blowing things out of proportion. You're going to set expectations that can't be met, and the PPS will suffer because of it.
You're mistaking my meticulousness for negativity. I just find it hard to believe that MYEC has news pending related to deals with Amazon, PayPal, Samsung, Chase, Bank of America, the IRS, the gambling industry, etc. Call me crazy...
Maybe I just lack the insight that the rest of the people on this board have.
Almost all of that is speculative.
I wouldn't consider "pending news" to be something someone posted on iHub to build hype.
I believe MYEC is going places, but people are blowing it out of proportion with these wild guesses.
Give me substance and Ill shut up.
What news?
Completely agree with you. Wednesday/Thursday is usually the day for MYEC news, but it seems like the only news we are expecting is audited financials, and it still may be a bit early for that. Other than that, we have no expected news. MJ news was somewhat expected but still speculative.
Since we have no expected news, and I can't expect the unexpected, I am holding off on buying right now. Too damn risky on a panic filled trading day
On monday we were still going up on news. Now, we are going down on panic, with a few buys on the ask to even things out. The risks outweigh the rewards for me right now because the market is in a panic. I've already made my money on MYEC, so Ill be patient. I hope for everyone else's sake that my orders dont get filled.
I think it can go lower if it breaks the LOD. There's not much for it to run on right now, and a lot of panic.
My goal is to buy between .01 and .015 if we don't get news. May not get filled though, but I already have orders in
Did you even read the PR?
btw, you have a great unbiased stance on this company, and I appreciate hearing from you as you seem very level headed about your approach to investing.