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That's exactly my concern which is why I've been holding off on buying. Some major support levels have been broken and I'm not so sure it won't go lower. Not saying it will, just keeping an eye on it to see how it plays out. .0019 is either going to be support or resistance is how I'm seeing it. Either way I'm not sure there will be a tradeable bounce yet. .0025 is resistance for today.
They did increase the O/S though to 2.5 billion, so I don't believe that a RS is in the cards.
Yeah we've had this discussion before, and I know how price action works. You seem to be stuck on comparing GRNO to last year. Clearly it's not necessarily going to mimic last year in terms of price or volume. But you can't honestly say that two trades at the ask making up half of the daily volume is indicative of no buying interest. Whoever is accumulating GRNO seems content to gather up as many shares at possible close to .08 in the morning, then raise the bid when the supply doesn't satisfy demand. Just a matter of time before the deflationary mentality (downtrend) that's been plaguing GRNO turns to an inflationary one (uptrend). As I've been saying for a while, GRNO is at a clear turning point.
That may be true. I've been posting that HLNT's chart is broken and that seems to be the case. .0019 may be the bottom, but since there is no uptrend in place any more, HLNT is unlikey to bounce except for the dead cat variety, at least at first. Personally I'm not willing to bank on .0019 being the bottom until it's confirmed in the chart.
Two trades at the ask made up almost half of todays volume, and the close was the HOD at the ask. I'd say there is more than a little buying interest.
BTW, when the stock reaches a point where shareholders refuse to sell, and buying demand picks up, that marks a bottom and a turning point. You sure have a strange way of thinking about price action, or maybe you're just seeing it the way you want to see it.
Go GRNO!
As you can see, playing the waiting game has its benefits. Looks like it's going to be day #4 for a close under the bolli.
Yeah I posted on the fly and didn't calculate it exactly. Still, it was the single largest trade of the day. That should tell you something.
Apparently you are not familiar with the bottoming process, because GRNO is doing exactly what it should be doing. Only a couple of weeks ago there were very few buyers at .08, now they are lined up on the bid and when it doesn't get hit fast enough they raise it. Just a matter of time before they raise it even more as fewer and fewer sellers are going to get suckered in to selling at the bottom.
If you think this is just existing shareholders buying enough to keep the price from collapsing your deluding yourself. That kind of buying can never keep the price up if there is real selling pressure, which there isn't.
If you knew how to read a chart you'd know exactly why this is happening, and in which direction GRNO is heading.
Yet they raise the bid to close in on the ask. The same thing happened yesterday. The only reason GRNO closed at .081 yesterday was because nobody would sell before the close at .085, and volume obviously wasn't sufficient to satiate demand. Let's see what happens today, the day isn't over yet.
BTW, the trade at .0869 was almost half of todays volume so don't pretend it's insignificant.
There is definite potential that's for sure and I am watching it carefully. I had a nice pop on SUGO today that I wouldn't mind putting to work in HLNT.
Here they go raising the ask, just like yesterday except they are starting earlier today. There are definitely interested buyers out there, and anyone selling at current levels deserves to miss out when GRNO breaks out.
No but I'd be paying more attention to how it trades from there. The way I see it we have a rapidly falling 9 day MA, with the 20 not far behind. Also what concerns me about this selloff is the fact that HLNT has closed below the lower bolli for 3 days in a row now which hasn't happened on recent selloffs (.0026 or below today would be day #4) and has gotten more oversold than any other dip in the last 6 months. Right now everything is moving in the wrong direction. I'm looking for some consolidation at the .002 level for some confirmation that is the bottom.
Not that most people on this board care, but I'll post when I think HLNT is a solid buy.
It could be but it's much too early to tell. Either way, it doesn't seem that a big relief rally is in the cards for today. Resistance at .0028 seems pretty firm IMO & the risk still outweighs the rewards from where I'm standing. I'm still on the fence waiting for better technicals.
Not trying to be a hater, just cautious. So far my caution has kept me from losing my shirt so I'm sticking with it until certain trendines are broken.
IMO the selling at the bottom at the beginning was probably real. Lately it seems much more artificial, although there is no way to prove it. However that bottom at .08 does appear to be real and I see no reason for that to change. GRNO is moving in the right direction and anyone buying here will be rewarded if they have patience.
FWIW, the weekly technicals are still shaping up nicely, pointing to a probably breakout in the next week or two. The daily looks good too, but I think it will probably churn down at the bottom for a little longer.
SWEET!! Go SUGO
I almost lost patience a couple of times but I held patiently & waited. Now I'm glad I did, I only wish I bought more. SUGO is breaking out in a big way. Holding on to this gem for the long haul.
GO SUGO....congrats longs..
I expect the financial disclosure and movement of GRNO toward becoming fully reporting will drive this stock up shortly and we will not see these levels again.
Rose colored glasses?
Do we know how many shares they received? FWIW it does seem odd to insist on a settlement in shares rather than cash if their intention was to sell it down (unless of course the share value in the settlement was so low that it doesn't matter to WH)
I absolutely agree, and in the long term fundamentals always beat technicals but in the near term the technicals win. Technically, HLNT is broken IMO and although I think it's at or near the bottom there is still some risk down here. Major levels of support have been broken and will now be considerable resistance on the way back up.
Nice move. The bottom at .08 appears to be pretty rock solid. It's just a matter of time before we get some lift off.
Yeah I hear that, but clearly caution has its advantages too. Depending on where it is at the EOD I might start scaling in before the close. But the chart is pretty broken so I doubt it'll race to the top anytime soon, and it seems like traders are going to take advantage of any strength for the foreseeable future. I suppose when earnings are released that might change but it's unclear when that will be.
No doubt. I'm just glad I sold most of my shares at .005 several weeks ago, or I'd be losing my mind right about now. Now I'm just looking for the right re-entry point. I like roller coasters too, but I like making money more.
Yet no original source for the information can be found. No filing or press release from GRNO making such an announcement. The most logical conclusion is that Bloomberg made a mistake (wouldn't be the first time). The only press release made on the day in question (1/26) was that GRNO "retained GBH CPAs, PC, of Houston, Texas, a PCAOB registered accounting firm"
Ditto that, and in all honesty I don't think it will as the price has remained stable in the face of dilution. Looks like .18 could be a pretty solid bottom but I'm keeping a close eye on it just to make sure it doesn't break down. CMIN has had a higher market cap in the past, and with the test mining op about to be launched it's hard to imagine who sould sell it down now.
Absolutely! GRNO is one of the few pinkies that I'm aware of that seems to be moving agressively in the right direction in terms of getting up to speed on their financials.
BTW, the technicals are improving by the day (check out the bolli squeeze forming on the daily & weekly chart), just a matter of time before this really gets some momo to it.
I don't mind the dilution as I'm sure the company needs some cash to fund current and future projects. What bothers me is that they continue to sell shares at .10, and there is no lockup period on the warrants. They shouldn't be diluting at a share price briefly touched intraday for one day in December. Most dilution takes place at a minor discount to the average share price for a recent trading period. Seems like they should be getting .15 at least. I'm writing the company an e-mail expressing my dissatisfaction about this. I'm not selling my shares or anything, but I'm not buying any more either. Not unless it goes down to .10 again...
Oops! A typo was found in my previous post.
I mistakenly referred to mobil processing units. Obviously it should be spelled mobile, so as to avoid any confusion with the oil company.
Thanks to the poster who was kind enough to point it out.
The real revenue potential for Texas and the mobil processing units is still unknown, but assuming we can annualize the December revenue (which seems fair for now considering oil has been trading around the same levels and December was expected to be one of the slower months) GRNO should be able to generate between $6 & $7.2 million in 2011. We should get a better idea of whether December was a fluke or part of an overall trend if/when they release Jan figures (I believe it will be part of a developing trend). And that's if oil stays in the high $80s. If things in the ME destablise oil could easily trade well above $100 and that only enhances GRNO's earning power. Any additional revenues from Texas or the mobil units is gravy.
Wow looks like you were right. Stocks always go up when there are no buyers. ;)
(Hopefully my sarcasm isn't lost on anybody)
If there are a lack of buyers, then why the two bids at .08? Why did they raise it from .078? Do they not really want the shares? Why is the bid side more dense than the sell side?
And are you really inferring a trend from a .002 intraday move? Are you not familiar with the concepts of support and resistance? If .082 is resistance and .08 is support, do you really think a trend has been established today?
BTW, I've hit my max posts for the day so I'm outtie.
* I've got a few minutes of edit time left so I'll use them up
LOL, sorry, to me 2 buyers doesn't express a lot of confidence
Here's the real clue though. The ask is $.0805. So for every 10k shares a buyer wants, to move up to the ask will cost them $5. On an $800 buy. Now look at how many $.0805 shares traded and how many $.08 did.
Your logic is flawed. You just said if there were a lack of buyers the price would be continuing downward. At the moment it's not continuing downward. Therefore there is no evidence of a lack of buyers. Get it?
BTW, nice job ignoring the part of my recent post that clearly demonstrates that there are interested buyers (the bid at .08)
THANK YOU. That's all I was trying to say. Bottoms like that do not form when there are a lack of buyers. And they generally don't last forever. After a while the fools willing to sell at the bottom start disappearing (indicated by low volume) and the buyers need to start paying up for it. I will say this though, GRNO is apparently following the trendline with the most gradual incline, at least for now (which is why even the slightest pop gets sold off. High flyers that get brought back to earth have so many trendines holding it down that need to get worked through it takes a while to cut through all the resistance. 2 months+ at or near the bottom I'm thinking we're getting close to the end of the bottoming process.
Look at late Feb 2010, and late June/early July 2010. Volume almost disappeared shortly before a huge jump in the share price on higher volume. I'm not saying that we're in for the same kind of huge pop necessarily (it's possible but I wouldn't bet the farm on it), but those low volume days clearly marked a turning point in terms of momentum. You can rationalize it however you want, but like I said abnormally low volume often suggests a change in momentum, or at least is an acknowledgement that a stock is at an inflection point. It does not guarantee that GRNO will move higher, (or that if it does it'll spike as it has in the past) but given the price history over the last few years it would seem a bet with good odds.
BTW, you have so far ignored the point I made in an earlier post. If there are no interested buyers, then please explain why there are now 2 buyers sitting on the bid at .08 when earlier there was only 1, or why the bid was raised from .078 to .08 earlier. There is a difference between "no buyers" and "buyers trying to get it as cheap as possible".
There will usually be interested buyers for small amounts because existing shareholders with large positions have an incentive to keep the price up. If you have $100k in GRNO and you need to spend $400 to buy 5k shares at $.08, you'll probably consider it strongly
"A seller can also sell all the shares wanted, but the price drop will be far greater, so they usually don't sell in large quantities unless it's into a run."
So the motivation of sellers is equally important to the motivation of buyers in determining price movement, intensity of the move, & volume. That's the entire point.
If it was as you say and there were "no buyers" the bid would disappear and the price would tank. That hasn't happened (and there has been ample opportunity), meaning there are buyers, but they are no always willing to bid the price up. Sometimes they're content to sit on the bid and wait for weak hands to drop some shares.
Case in point, the bid this morning was briefly at .078 but nobodoy was willing to sell there so instead a buyer stepped in and snapped up the shares available at .08 on the ask. Now there are two bids at .08 and only one at .085. Clearly there are interested buyers or that wouldn't have happened.
Anyway, we could hash this out all day but I have a free account and limited daily posts (which on a sidenote is also why I haven't answered the few private messages sent to me by other posters in the last week. Without naming anyone all I'll say is that their input on the board is also appreciated. I don't like feeling like I'm "tilting at windmills" either).
Back below the 300 day MA. The price action is extremely bearish lately. I'm surprised, but glad I held off on deploying any more cash. HLNT needs to find a support level that will hold, and stage a sustainable rally from there. I have an idea where that might be but I don't want to scare anybody :)
My point is that if there are few trades, it's generally because there's a shortage of buyers, not sellers. You'll notice that when the hype appears and buyers come in, there's always enough shares to sell. You don't see the price going up incredibly fast.
But when there's no hype, you see low volume because sellers don't want to tank the price.
That doesn't sound odd at all. I think much in the same way about stocks. Gravity, intertia, and specific gravity all apply.
I don't care what exchange a stock is listed on, all activity is the balance between buyers and sellers. It can't be one-sided as you suggest.
Unusually low volume at inflection points often marks a change in sentiment. As Paula pointed out, the motivated sellers seem to have been thinned out. The buyers who were previously sitting on the bid will be forced to pay up little by little if they are interested in aquiring shares (and it seems that they are considering how eagerly they've been snapping up shares at the bottom). I'm not calling for a huge spike in the share price right now, but a slow gradual build seems likely. So far the trendline in place seems to be holding, and it's pointing to that slow gradual build.
If we get some positive info about the test mining operation, that should be a catalyst for the share price. $2.00 is way beyond my projections right now, but if there's gold in them thar hills and the price of gold stays elevated anything is possible. Keep in mind that $2.00 per share would give CMIN a market cap of $300 million ($450 million if the warrants recently issued are excercised) so it will take something substantial to justify that kind of a share price.
I'd rate it neutral at best. Unless it breaks above .006 this week it's still in a modest downtrend, possibly consolidating for a breakout in another week or two.