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Matt.. Just righting a wrong, that's all.
bartermania.. I don't see anything positive about this stock. When I ask longs to provide something positive, they usually decide to call me names instead of coming up with a thought.
There's nothing positive. Tight margin revenues and negative earnings per ahare. They are acquiring new companies by issueing new shares or debt. Whoopee. Still no sign of any profits.
jwfng.. More likely a case of only a handful of people showed up. How many people are just going to get up out of there lives during a Thursday/Friday afternoon and catch a plane to New Orleans? This company's total market cap is about $2-$3 million dollars! There aren't 50 multi-millionaires owning this thing that can just private jet on down.
Quite easy to keep a secret amongst a half a dozen people or so.
Never dealt with PLNI in any way, legally or otherwise.
I've already answered the question. I have no history with PLNI AT ALL. Would you like to see my trading records?
Norton1973.. Yes a company can make a turnaround. But so far it appears that management at this company has been incompetant. The one thing they've done fairly consistantly is issued more shares.
It's going to take new management to help turn this company around. Unfortunantly Turek has a death grip on a large number of shares where it would be impossible for longs to take this BOD apart and start anew.
rrm_bcnu.. You don't think this is a serious issue? If what avdave said is true.. it's just an outright lie what PLNI put in their PR.
Norton1973.. For start, they've failed in finding ways to turn a profit.
avdave.. Oh My!!! I'm going to look into this as well. If THIS IS TRUE, The SEC is getting a phone call from me first thing Monday morning.
Norton1973.. LOL, You can try to put in a limit order at .0004, I highly doubt that you will get it filled though.
fynley -- Never lost money, Don't have a short position, and I'm not being paid by anyone. Nor do I have any intention of entering PLNI at a lower price which some on here have wildly claimed.
I'm here to provide DD for those new investors. Just for fun on my own spare time. There is alot of misinformation being posted by longs that I am here to correct (and have corrected). If I have posted false information here, please reply and let me know, I'd be very happy to correct it and restate myself immediately.
Norton1973.. Just my personal opinion. But you should learn from past mistakes and try not to repeat them with this stock. There are alot better investment opportunities out there.
Norton1973.. Extremely unlikely that PLNI will see 0.0005 EVER again at the current share structure, IMO. Most of the volume last week was selling at the ask.
fynley.. The company made an effort back in 03 or 04 to be uplisted to OTC BB.. Unsuccessfully.
If Turek thinks he can get this company that has failed to make a nickle to AMEX, even getting the appropriate share and float cap levels, he's out of his mind. Again, I will take bets at 50-1.. AMEX would never even think about putting this stock on their exchange.
Just seems like more hot air.
rrm_bcnu.. No.. We simply stated that for there to be an uplisting to AMEX, A reverse split will be required to get the share price above $3/share. PLNI doesn't qualify under any other admittance guidelines (where float cap must be above $15 million).
Someone reported a rumor of a 15,000 to 1 r/s, as far as I am conerned that is still a rumor.
This is probably true. Turek probably spent the entire shareholders meeting ranting about bashers and naked short sellers so he wouldn't have to address actual issues involving the company and its inability to turn a profit and why it needs to issue more shares.
Probably something like below:
These Bashers are lying about us.. The short-sellers are keeping us down.. They are manipulating this stock to keep it from skyrocketing .. Repeat Rant for 6 Hours ... Oh By the way, We're doing a reverse Split, See you guys next year, Good night
Haha
bearclaw51.. Do you not think that if PLNI shareholders were excited about how the meeting would of went, they would of reported it already?
It seems possible Turek told them not to comment on the details of the meeting however.
rrm_bcnu LOL! flippers? What are we flipping? The stock hasn't nudged an inch in two weeks and nobody can get filled for a sell at .0004 LOL.
eyeamgame.. typo.. meant at the Bid. The volume has been at the bid all week at around 70-80% clip.
Busy looking for historical intradays.. Okay.. I put MSFT in.. Now you switch it to the 3 year chart, and tell me what you see.
I see lots of light purple in the CMF and I see a steadily declining Accum/Dist line.
Stock price? From $21 to $27 (28%). Count in the dividends, and you would of had over a 50% return on this stock while the Accum/Dist. and Money Flow indicators that this was a sell.
I would love to see the trades at the bid and ask during this time period.
I know that the majority of trading days in this time period were closing at or near intraday highs.
You can just look at the Candlestick chart and see all the "T"'s. It's absolutely impossible to determine whether the volume is at the ask or bid by looking at this chart. The only facts we can be certain of is that on most of these days the final trade of the day was at or near intraday highs, therefore causing the entire day's volume to be rewarded to the positive side.
A single person deciding to start "painting" the ask at the end of every session could of created that Money Flow increase.
Did that happen, I don't know. I will have to see if I can find intraday charts or T&S lists for those days in November.
bearclaw51.. Using the indicator on broad markets seems pretty pointless unless you can show me where you made some profit using it. Look at Microsoft (MSFT), put up your Accumulation/Distribution signal and compare it to the stock price. The line has been descending while the stock price has been ascending. You would of gotten slaughtered trying to short MSFT the past 3 years (according to the A/D line, it was a short sell since the A/D was tanking while the stock price was "inexplicably" climbing)
rrm_bcnu, the bid and ask has been stagnant at .0003x.0004 since March 5th, (other than some unconfirmed claim that the bid was temporarily at .0005 for a split second, there were no trades at that price).
How would those large volume shares be at anything other than the bid, if the transaction price was 0.0003?
Threats? You deleted undeniable evidence than there has been massive volume at the bid 0.003 this entire week, while "accumulation" line has increased in a phony manner because of small lots traded right before closed.
rrm_bcnu.. would you not agree that there has been significantly more volume at the bid this week vs volume at the ask?
BTW.. Here is a link that you requested.
http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=PLNI&time=3&freq=9
Click on the chart, Drag it over the day you would like to inspect.
For instance, to see Tuesday, with the vertical line over the "T", drag it all the way to the "W". Zooms in right on Tuesday and the volume.. Line the price up with the volume to see what the volume was for that minute of trading and where the price was. Significant volume, all at the ask between 9:30am and 10:00am.. The bid was at .0003 the entire time.
If the bid swapped during the same minute, there would be a long vertical line, such as what happened around 2:05pm.
rrm_bcnu.. would you not agree that there has been significantly more volume at the ask this week vs volume at the bid?
rrm_bcnu.. I'll look at the volume at the bid and ask.
Look at the 5-day chart on BigCharts and look at the volume.
The largest volume concentrations are all on the bid.
Tuesday between 9:30am and 10:00am.. 141.6 million shares were traded at the bid of 0.0003... A 250,000 lot was purchased ast the 0.0004 ask at 3:45pm. A day that registered 193,538,000 was credited as an "Accumulation" day on the Accum/Dist line because the close was at the intraday high, but infact, 73% of the volume happened in a large 9:30am-10:00am distribution.
Do you understand how this flaws your "accumulation" theories? These claims that there is accumulation going on can only be found in funny numbers that long shareholders are pointing to.
Let's look at Wednesday. About 23.5 million shares were sold at the ask between 10:15am-10:45am (This is all on BigCharts.Com, interactive 5-day chart, 1-minute interval, for all of you to confirm yourselves). There light scattered buying the next two hours of approximately 13.8 million shares. Then around 1:15-1:30pm, there was heavy selling at the bid, 52 million shares. Just before 2:00pm, 10 million was bought at the ask. From 2:00pm until 3:00pm, it was consistant selling totalling 38.4 million. From 3:00 to 3:30, light buying, around 10 million at the ask. Then just before close of around 50 million shares.
Is this seriously your idea of accumulation? Thursday was similar.. Around 60 million traded at the bid, with total volume for the day 83 million. The final tick was 0.004.. Another "rise" in the "Accumulation" line!
bearclaw51.. It would only be kept secret if there was nothing positive in it. Reverse/Split seems likely if they have AMEX plans.. Was probably brought up.
guilium.. dilution? how about the continued increase in reported outstanding shares throughout 2005, and 2006?
How about the $7m subscribed stock that's may be converted?
This company and CEO's history has a long history of continuing to make poor business decisions and having to pay for them by firing up the printing press.
How is PLNI going to afford the new acquisition they announced? According to their 3rd Quarter 06, i don't believe they have the funds to acquire a company that will add $80 million in sales to the coffer. Do you? More shares perhaps?
guilium.. the A/D and money flow ratios are completely flawed.
The stock has been trading in the .0003x.0004 range for a while now.
If the last print off the tape at the end of the day .0004, the entire days volume is considered to be "accumulation" because according to the A/D rules:
In developing the Accumulation/Distribution Line, Chaikin took a different approach. OBV uses the change in closing price from one period to the next to value the volume as positive or negative. Even if a stock opened on the low and closed on the high, the period's OBV value would be negative as long as the close was lower than the previous period's close. Chaikin chose to ignore the change from one period to the next and instead focused on the price action for a given period (day, week, month). He derived a formula to calculate a value based on the location of the close, relative to the range for the period. We will call this value the "Close Location Value" or CLV. The CLV ranges from plus one to minus one with the center point at zero. There are basically five combinations:
( ( (C - L) - (H - C) ) / (H - L) ) = CLV
If the stock closes on the high, the top of the range, then the value would be plus one.
If the stock closes above the midpoint of the high-low range, but below the high, then the value would be between zero and one.
If the stock closes exactly halfway between the high and the low, then the value would be zero.
If the stock closes below the midpoint of the high-low range, but above the low, then the value would be negative.
If the stock closes on the low, the absolute bottom of the range, then the value would be minus one.
The CLV is then multiplied by the corresponding period's volume, and the cumulative total forms the Accumulation/Distribution Line.
At these stuck levels one could simply manipulate the accumulation/distribution line by throwing in a cheap share lot at the ask at the end of a high volume day (where there was infact, lots of selling). One could very easily and cheaply give the impression that the stock is gaining great "technical" strength by portraying that there's large accumulation efforts ongoing. .
If it's always closing at the high, which since the beginnign of 2003, there has been 51 trading days, the indicator is inherently flawed. PLNI has closed at the high of the day 32 times. It's closed at the very low of the day 9 times. It's closed somewhere in the middle 10 times.
This completely distorts the Accumulation/Distribution line. You might as well be flipping a coin to make your buy/sell decisions.
Referring to it as "Proof that people are accumulating the stock" is just mindboggling bogus.
rrm_bcnu, not if nobody showed up at the meeting. Has anyone stated that they were actually 100% going to attend?
guilium, my position is that the technical analysis procedure is flawed and has very little relative effect in trading the markets. I think there may be of some use if you are looking for a possible entry point into a GOOD STOCK. But trying to trade and flip poor companies because the RSI is telling you this and Money Flow is telling you that, is complete hooey. You might as well be in a Vegas casino playing baccarat.
There are people who have good runs with technical analysis during bull markets. But you would have the same gains (if not more) by just buying and holding during bull markets. When the markets trend sideways TA gets absolutely slaughtered, and you have absolutely NO IDEA that it's trending sideways until AFTER the fact. In the long-run, they won't last. Just tell me how many billionaire technical analysis traders there are? I can name more than a dozen billionaire investors that "buy and hold" good companies.
You want to talk about Alcoa? Look at their stockcharts.com chart for the past 3 years. The Accum/Distr level peaks in the 4th quarter of 2004 at $31.00 were substantially higher than it was during the peaks at $36.00 in April 2006 and January 2007
What the hell does that say? Absolutely nothing. You're playing with random numbers that are completely useless in forecasting the future stock trend.
For every example you can show me of Accumulation/Distribution divergance vs stock price working, I can show you examples where it completely failed. I'm sure you'll find tons of examples. You've seem them in the technical analysis books you've purchased and the websites they've been published on. Young TA'ers have usually only seen examples of where its work, not where it's failed equally as often.
You want to play?
avdave please show me what you are referring to.
To what you may think is accumulation, is much more likely a series of random events, (or somebody painting the tape at the end of the day of a high volume trading session).
avdave.. What "accumulation" are you referring to?
Fasten your seatbelts.. Take off........
LOL. Just enjoy the reverse split guys.
bartermania.. How much money have you made on PLNI by trading the 50-day moving average?
Technical Analysis is nothing more than a Haitain Voodoo Rattle.
bartermania.. I just want to know what positive aspects PLNI has going for them. I see none. You refuse to post anything other than "dirty MMs".
Please, I want to know. What is positive about this company that makes no profit and has a steady history of issuing new shares, making poor business decisions, and failing to come through on promises to shareholders.
barter.. i like stocks with a large potential for return in a reasonable time frame.
If that's true then why on earth do you like this one?
Remember.. Wicklund/Plasticon already failed miserably once to get uplisted to OTC BB. Why they think they have a snowballs chances of moving to AMEX is beyond me.
Just more hype and hot-air from Turek, IMO.
A reverse split is 100% imminent though as the requirement for AMEX is $3.00/share..
A reverse split for a company that has yet to turn a profit? A company that has sold more shares than they sold of their service/product?
Bad, Bad News. Longs can either dump their shares or assume the position.
I think you got it right shorts. It will most likely go down very similar to that.
They'll get a "We need to do this to get uplisted to AMEX" speech from Turek for sure.
LOL, You're a riot bub. <eom>