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No, not that it's going back to sub .005 levels, but as i've been saying as often as possible, until the BK is out from over us, dreams of .04, .05 + are just that, dreams.
It was clearly short covering today.
Lemme tell ya when you get there, it's even better than you are imagining it to be. I hit a monster (FMXL) early 2006, "retired" from the IRS, but get up earlier than I did then because I absolutely love what I do. I only dabble in pennies but think we have a nice runner here.
Good luck bud!!!
I think they had a huge covering of short positions they took on June 19th & 20th that caused the pop.
JMO
Awesome post!!!!!
This post alone is enough information to compromise her job.Along with the others. You'd be amazed at the assets gov't workers are provided and how easily your "friend" could be tracked down.
Thanks for the assistance King but don't go into detail on a message board.
If you can't have fun trading, then you're not ready yet. Keep the day job a bit longer!!!!!
Trading stocks, especially pennies, is the equivalent of anything else that causes an adrenaline rush. Calling people "dumb" because they have emotions is classless. It's human nature to enjoy the "high" and dislike the "crash" just like gambling, drugs and many other things.
This board allows people to enjoy the "high" with others from behind their computer screen as well as receive help getting through the "crashes" from people who are enduring the same.
"Dumb" for watching all-day? Maybe for a long-term investor who works all day and is uninterested in the "high", but not "dumb" for those who enjoy the rush!!!
GLTA
Joe
If you can't have fun trading, then you're not ready yet. Keep the day job a bit longer!!!!!
Same is true in the states. The IRS has BK agents who will oversee the case and it would NOT be approved if there were any issues. If Eugene wants to take advantage of any NOL's then the returns must be filed for him to do so. I worked for the IRS for 6 years and if you are due a refund as an individual, we would rather you not file the return as you lose the refund after three years.
For a corporation however, there is a $100 penalty if the 1120 is not filed which has either been waived under "reasonable cause" abatement due to the bankruptcy, or has been paid to the IRS BK agent in charge of the case and applied to the tax years as a credit awaiting the returns to be filed.
Now I don't know of any revenues created since the last return that would not result in a net loss on the returns that would have been filed, but I may be wrong in which case the return would have to be filed and NOL's applied.
Fabulous call by many on the .007 low. This is starting to get fun & easy as long as we play along with the MM's.
GLTA
GO MMTE :)
Exactly right, look at all the cheapies the MM's picked up today in the .007's of QMNM after shaking everyone out. Now it's pushing .01 again (up 40%).
There will be more added in between. If one they get taken out, it WON't go to .0029, the ones taken out will simply add more asks. Just like people would bid if we hit .002 and not take us right to .0017.
Level 2 is good to get an idea of who's on the bid and ask.
No fears though as we'll get the MM's on our side when they want it to run.
Thats very good, thanks!!!!
They're content taking 5% all day long and I think they assign a worker to each stock to sit there all day flipping for .0001 which at this level is worth it to them.
Knight Management sux!!!!!
I'm thinking we break .003 today but at these ranges Day-traders clean up so we'll probably end just under in the .0026-.0028 range.
JMO 4 2day
Stay long and strong boys, don't sell your shares to the MM's
Joe
Took care of it, as did many others it looks like!!
Good morning bud, Let's get er done today!!!!!
Fabulous find. Written in perfect English and very straightfoward.
My thanks to the author ;)
No, just got in about 3 weeks ago before the run to .0031
We should see at least that next week IMO!!!
Hey guys, let's get her moving Monday morn. Ready with another $2000.
If you can't have fun trading, then you're not ready yet. Keep the day job a bit longer!!!!!
Thanks you very much for the MMTE chart and analysis!!!!
I was there for a bit of that, also for FMXL which ran harder and faster than anything i've ever seen in early 2006 allowing me to retire from the IRS.
Good afternoon fellas!!! This round number (.002) is a pain in the a$s to break. Looking back the last three breakout tops were all the first day of the trading week (one was the day after Memorial Day), so todays gains and news should work it's way around pennyland and give us a GRAND Monday IMO!!!!
Have a safe weekend everyone and enjoy the position we are sitting in.
Joe
Congrats to all who have hung tough :)
Long & Strong is the name of the game.
Joe
We gotta have a lot of patience here. My guess is people are assuming no news on well #2 means something negative????
Long & Strong 3.5 mill guys!!!!
GLTA
Joe
Morning guys, the best thing you can do is not get your expectations too high because then results that you at one time would have loved instead get you down on the stock.
There are MANY more stocks with higher PPS's and O/S that are still in the exploration stage and not going to be posting a profit anytime soon.
A penny is easily obtainable IMO and while it's nice to predict foward, we still don't have any news on the 2nd well except Joe "expecting" similar results.
This is one well (a well that turned out to be a better producer than we expected) and we should leave it at that until given more results.
But then again, the best part of micro's is dreaming of .10+
GLTA
Joe
WOW, I take the day off from trading and we get the much anticipated P/R.
Anyone know the A/S?? 1.5 billion??? Hope Joe's not diluting, we'll know if we don't make a nice move tomorrow.
Good luck to us all :)
Talk to you guys in the AM
Joe
Thats the key, not many weak hands for the MM's to bully around.
Good luck guys!!!
I'm guessing that 4.2 million @ .0018 is ArcticWolf's
A close at .002 BEFORE any news would be great.
Morning Wolf, check out DXO - OIL UltraLong & SKF - Financial UltraShort. Also all miners are VERY oversold.
Hopefully the bottom being put in in oil helps the entire energy sector and gives our baby (MMTE) a little nudge
I guess we wait another day for the P/R which we can read two ways:
1 - well #2 wasn't as positive as well #1
2 - We're gonna get a monster P/R as stated a few posts back with wells 1 & 2 production numbers
Either way hope we get it by Friday.
Very hard to apply multiples to pennies, nevermind micro's
The energy sector as a whole is at 10.75 per Fidelity if you're trying to do calculations.
Joe
Morning guys let's get this puppy moving!!!!
Joe,
I've seen that before. MMTE has become a pet project of mine for the slow period where my blog is a bit slow.
You guys are great and I want to extend my thanks again for hanging out during the day.
Joe
Very informative post finally. I know everyone loves the quick buck and QMNM WILL become a home run ONCE IT EMERGES FROM BK, but you guys are missing on the easiest money in years due to the herd mentality the public follows.
SHORT the main markets (esp financials SKF) and go long Gold and miners as the PPT, the CB's and the FED are just about out of bullets. The DOW WILL be under 9,000 in early 2009 and the POG WILL be over $1600 as there will be a "race to debase" worldwide currencies.
These bottoms have been called since we fell under 14,000 and we're only about 40% of the way through. Please do not follow the herd.
GLTA
Should be a fun morning my friend :)
When did we become friends??? ;)
Unless there's another 2 1/2 mill getting gobbled up??? Better tell your bud he's gonna have to beat me to the .0017's
Thanks for the chart Shkinferd, we need something to propel us back through .003
Hopefully tomorrow!!!
Thats the attitude Joe-Trader, one penny at a time.
Thanks for your support on MMTE, we all appreciate it.
This is where the MM's add back the shares they dumped for .0018 this AM for .0015/.0016
Afternoon Mick (You on the left coast??), we should see some EOD buying to close us .0018 or higher if something is brewing for tomorrow AM!!!
My bad, on a trial membership and getting used to the format.
A lot of sells jumped in at .0018, gonna be hard to get past without any P/R IMO!!!
That was a nice half million shares at .0018 :)