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*big support
Someone was "painting the tape" the whole time it was dropping. 100 shares dumping on the bid every couple minutes. Check the time and sales.
Because news usually overextends the price and creates a pull back; dont want to miss out on being able to lock in some profit on the spike.
I definitely don't want news until I can sell a portion of my holdings.
He deleted everything related to stocks. Very strange.
You are right - some people might start getting conversions completed 2-3 days after r/s, but it could take a week or more for others.
Excellent post.
Small bit of DD I've compiled on DRIO
July Interview with CEO Erez Raphael
Inventor of the Dario Meter and Co-Founder of Labstyle Innovations
Doctor who invested 3 million dollars of his own money in DRIO warrants and seats on the board. This was announced last Monday, Merely a day after DRIO allegedly (fib1170) met with the FDA. There also seem to be rumors that Edery is vying for control of the company.
I agree. Remember, Dr. Edery has a 3 million dollar bag and members on the board. He wouldn't have invested that kind of money if most of the things said here by the bashers were true. People just look at the pps, historical price action, recent dilution and just assume it is another OTC scam. I took the time to read through filings and research the company. I'm aware of the true potential here and could care less what the bashers think.
I think anyone holding through the reverse split will be pleasantly surprised next week.
jimmenknee, in one of their previous filings they stated the r/s was being done in order to have enough auth shares to issue to the private investors. Does that sound like a legitimate reason? To my newbie mind, it seems like a forward split would accomplish that by giving them a larger pool of shares to doll them out of. Or is it true that they have some sort of limit or maximum amount of auth shares and a reverse split would free up space to issue more?
Labstyles has done a pretty crummy job of administering their public offering and preserving value for shareholders. Sure, financing may have been necessary to continue operations, but it's as if took a truckload of shares down to the pawn shop to sold them all for pennies on the dollar. Imagine the poor saps that bought at $3; the stock will have to reach $15 before they can break even. Technically the same distance, but not psychologically.
With them being an Isreali company I would really like to know who is in charge of administering their stock offering, sec filings, PR releases, etc. I wonder if it is an external firm or individual in the usa? The fact that they are so quiet in regards to shareholder communications at least tells you they aren't a share printing ATM machines like so many of these OTC companies; PR injections are what keep them alive.
I made the decision to hold my large position through the reverse split because I think there is a slight possibility they will PR something heavy next week. Luckily I locked in enough profits on the last run to still have some downside tolerance from here, but not much. Time may very well prove it to be the wrong decision, but I can take the hit and limp away if that's what I have to do or hang on and wait for greener pastures.
It will revert back to DRIO ticker after a bit.
I believe that is the limited notice they need to file in regards to the 4.2m non brokered agreement.
Your reasoning is sound, but you say "real money." It's not real money until the position is closed out.
For those selling pre-r/s, don't forget; the FDA device approval list comes out Monday or Tuesday. DRIO just finalized things up with their USA distributor this week. It's a long shot, but not very long...
If they were to release news of this Monday morning, the stock could go up 3 fold before you can even get another entry.
Welp.. Holding through the split. I wouldnt advise this to anyone, but I dont want to sell here. I used to be averaged at .06 cents on DRIO, but messed up while flipping it on the way up. My tax lot setting was first in, first out, so it was selling all my cheapy shares automatically. Now I am averaged at .117. I'm gonna hold my whole position through the black hole, wish me luck. If it dips after r/s, I can still average down a little.
Who else is holding? 250k shares here.
GLTA, DRIO baggers long and strong
Jimmenknee,
would you be interested in coming to my chatroom sometime and talking technical analysis/stocks? You have obviously devoted a lot of time to learning and know more than most. Don't listen to Dr. Penny Stocks; that guy will forever be ignorant without realizing it.
Here is a link to chat, hope to see you there! It's just channel ##guym on chat.freenode.net if you are familiar with IRC.
Anyone interested in helping me put together a DRIO dd white paper with everything we know about Labstyles? I feel like more people need to know about this gem of a penny stock.
Hey guys, come to my DRIO chatroom to talk about your investment and shoot the breeze.. I'll be idling in there always.
DRIO chat room
Look at this hater. he is just jealous because he's not going to be rich like us. Either that, or he wants cheap shares.
Thanks for your commentary, Dr Penny Stocks. Translation: "stock went down because someone got impatient itll go back up i promise"
Sounds like a wonderful piece of technical analysis. Introduction to level II quotes
Maybe I mispoke. The rising wedge pattern itself is bullish. More times than not though, it signals a bearish reversal to come. Easy enough to understand, right? If we don't see more volume soon it will break out of this rising wedge to the down side.
Yea, okay. All I'm saying is that statistically, these types of formations break to the down side. It could break down, drop into the 9's and then bounce right back to the 10-11 range. I am not saying the stock is going to tank or bashing it. I own 240k shares! What I am just trying to do is be a realist in the short term here and inform people of what is going on. Take your goofy spiel somewhere else buddy, cause you are talking out of your ass!
Yes, meaning that it signals that a bullish trend may be reversing... To a bearish one. Rising Wedge chart pattern
Shadowtrader posted about DRIO on a board he frequents, so I think he was just checking it out and giving his 2 cents.
Phin, calm down buddy, he is just telling us what he sees. He is obviously adept at playing penny stocks, but it's based on the supposition that the stock lives and dies by it's volume/money flow. DRIO has been doing well with little volume for one simple reason; strong hands like you and I. Don't be alarmed, just be informed.
I love technical analysis, and your explanation is worrying me that I have been going about it wrong when playing penny stocks. I will set the studies up tomorrow and just look at some historical action to see how they perform. Thank you for taking all the time to explain.
jimmenknee, what is keeping me here is that I strongly believe that their product is one of a kind/ground breaking and it had already been realized, and it is in consumer's hands. The Dario meter is extremely well received thus far from forum posts and facebook posts I have found authored by real dario users.
US patent already issued for blood/bodily fluid test interface that transmits data over smartphone headphone jack. Last week a renowned aids doctor invested 3 million dollars+ of his own money into the company.
I am a very skeptical person by nature, and usually not one to drink the kool-aid, but IMO there is a very very strong possibility of a bright future for this company.
It's all right there for anyone to see, the safest gamble on the OTC.
I agree with you again, that some of the cheercharting in here is inaccurate, but it looks like you've never heard "keep it simple, stupid." do you always use that many indicators? Have you ever by chance heard of Multicollinearity?.
DRIO's main problem right now is lack of volume. But mark my words here, if the RSI breaks 35.47 tomorrow on the daily we are going to see some nice price action this week.
I think there is a very good chance that DRIO will dip, but hopefully not too badly and not for very long. Hours, days, weeks is anyone's guess on a correction period. It could be a good opportunity for current investors to average down if they haven't already blown their load. I encourage everyone else to utilize the upcoming rise in price to decide what a lean "core position" would be, something you want to hold long term, and then shave the rest off as profit. I locked in about 5k profit during the first run up and have since built my position back up larger than it was initially. After the r/s, you can average down if it falls, or sell and have still taken profit. The choice is yours. I'm probably holding 50k through the reverse split and grabbing cheapies if I can.
If you had to travel through a black hole without knowledge of what was on the other side, would you take all your belongings?
I agree with you on the reverse split, jimmenknee. If this were a 1 dollar stock doing a reverse split, it could (in some fine exceptions), have a good outcome. Since DRIO is currently in pennyland there is much more negativity attached. The only hope for a profitable reverse split, would be for labstyle's to release groundbreaking news before the r/s or immediately after. Chances of this happening? Very unlikely.
One of the things I really dig about Labstyles thus far is that they don't really seem to want to waste any time releasing fluff PR's. But on the flip side, it seems like they could at least strategically release some news right now to drive up the pps in preparation for the reverse split. I get the feeling they could give a rats ass about current share price action, because they are working for the greater good of getting dario to the masses and a high pps will come organically if their dream is realized.
Short volume doesnt mean anything, short interest is what matters.
Question about share increase.
I see that the maximum number of common shares voted on by the shareholders (May 14, 2014) is:
"3. To consider and vote upon an admendment (the "IA Amendment") to Article FOURTH of the Company's Certificate of Incorporation to increase the number of authorized shares of Common Stock from 45,000,000 to 80,000,000 (the "IA Proposal");"
Round 4 dilution added 80,000,000 shares all by itself (54M common shares + 26M common share warrants) . The total number of common shares today is at 155 million shares.
But how can this be? The company is only allowed to have 80M common shares. As a shareholder, I didn't vote for any increase above 80M shares.
What am I missing?
If you slap the ask in the last 15 seconds before the bell, FDA approval will be announced tomorrow. Don't jinx it!!! Free dream catcher with every ask slap.
Do any of you own any BNCM shares? Is it a possibility they could screw us all and use it instead of RMTD ticker to r/m?
Fibonacci1170 might be providing accurate info in this case. One thing to consider though is that he has posted about a few other medical stocks on his feed in the past; claiming 400x opportunity and insane price targets. The stocks in question have gone nowhere but down and have a more than questionable future, esp compared to Labstyles.
Labstyles meets FDA 9/20
FDA informs Labstyles of the final minor regulatory requirements needed to meet 501k clearance. Conservative estimate; clearance by Jan 2015
Investor in talks with Labstyles for some time; extremely impressed with Dario meter. Informed of positive progress and imminent FDA approval re: 9/20 meeting. Commits investment, possible majority shareholder, given seats on the board.
KGS has been spot on with his fundamental analysis; he knows what he is talking about.