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Made 35% today on it.
lol, don't need news. PPO was -89 and ADX from a downtrend was -94. Pretty much the most absurd pinch I have ever seen
I don't care who lost what, not my problem, not my doing, not my concern. I have this on watch and I am actively watching it. I will buy it eventually when I feel it is time and I will make profit. Correction, starter position order has been filled.
Go to SMPR message board for an example. Pull up a 1 year chart for SMPR. Look at its state back in December. People there "lost their" shirt. Not me :) Go read the posts back then. Same situation, same scenario. Emotions are meaningless and distracting. SMPR ended up being a 20 bagger btw.
Give you another, KOSK, same same. What I am saying is that it isn't my problem if others don't know how to play penny stocks (buy and sell them). I play them and I make profit usually. That is all I am concerned with.
What about VHUB recently going from .004 to .018? What about BTCS recently going from trips 8 to .0026? All of these penny stock plays have a common theme and a common setup. Knowledge and proper timing and discipline are the formula for making money in penny stocks. Emotions, bitterness, disgust, who lost what is not my care or concern.
No, this will have a big bounce eventually. At least a 100% bounce minimum. Don't know how low it goes before hand and I didn't say this was the bottom however, but eventually this will have a big bounce. There is zero doubt about it. Nothing, not even bankrupt companies stock with a Q at the end that are completely worthless don't die off before having a sizable bounce.
This has dead cat bounce written all over it. One will come eventually and it will probably be a pretty big one. This is on my watchlist now.
Gold is pretty much flat today. Seeing gold stocks down 3-4% across the board with gold being flat is a very rare event this year.
Keep in mind that Soros dumped the majority of his gold in Q2. He also dumped almost his entire Barrick gold position. He filed reports yesterday.
The FED has little credibility now. I think the movement in gold stocks has more to do with Soros dumping his gold stocks then it does with the FED pretending to be hawkish. That's what I think.
Wanted to tell you very good job here. I didn't post here but was following LABD and thought just like you did last week and entered at 20.40 last week. Also entered UVXY yesterday for a trade as that was absurdly oversold. Just wanted to let you know good job with your call here. I completely agreed with it and it was logical and smart. Good trading to you and best wishes.
I know miners are hot but it is obvious they have entered euphoria. Gold down $40 this week and GDX and GDXJ are about even for the week. Looking at buying DUST again.
Yea I did a flip here too today but made a buy again in the afternoon and held that. Only thing appealing to me about this is the chart setup. The company put itself in a huge mess with their death spiral deal. Common on the OTC though. Not unusual at all. Always better stuff out there. Let me see usual OTC that falls from grace and enters death spiral with this type of deal bounces a few days after revelation that a/s will be increased. Revelation causes the flush out into high trips. Then bounce time. If not o well, can't win them all. Expect flush out for next 1 to 2 days. Then it is probably ready.
O I read it. Typical OTC death spiral dilution deal. If I had to make a guess trips 8 will be bottom. Depends on buy volume. I can only recall very few times a QB went from 10 cent land to low trips or no bid without even having one major bounce first. Much more likely that this is a TSTS type or EVTI or CDII. Could go on but you get the picture. In other words good chance for a big bounce before abyss. Remember CATV last year even bounced over 100% from trips 6 to 0016 after a a/s increase of 10 billion.
Couple of things about that intelligent post. Consider that converters will short ahead of conversions. Not unusual to see the stock drop big and volume increase ahead of actual conversions. In other words they make money on the downside. They also make money on the upside too. Converters can make more going both directions.
Now about this being a QB. Yes that means they file with SEC. Yes that means they can not just raise/change share structure willy nilly. That is a no no. They have to go through the proper procedures. Now it will not take a couple of months, that is too long. They have to vote and then file a form and that is what is used to notify stock holders. Stock holders must be told at least 20 days in advance of a change. They could not follow the law and not do that and I have seen that before but generally they will follow the proper procedures. Nice thing about a QB over a pink. Things got to be filled or at least supposed to be.
Was 001 bottom? There is a decent chance that it was. Can it go to trips 7 or 8? Absolutely. Can it go lower then that? Sure could. Thing is though it would be rare for a stock to go from above 10 cents and go straight to the no bid abyss without even one strong bounce before hand. Very very rare to see that.
Yep me too. Got my starter. Paid 12s.
Good post. I'm seeing a lot of what you are seeing. Keep an eye on +/- DI ADX also.
It sold about 45 minutes after I bought it, had a tight stop in. It was worth a shot though.
Yup, have a stop in. Can't win them all. Worth a shot though.
Bought JDST at $5.14. Started 1/3rd position.
I like UVXY a little better then TVIX because it seems it actually does slightly better but it is negligible. I'm waiting until the market is fully over bought then grabbing UVXY. UVXY r/s soon.
I have watched that feed before. It is pretty neat.
This is a weird coincidence. I looked at nat gas chart and gold chart, daily charts. Look almost identical with nat gas being about 1 week or so ahead. Strange but interesting.
Yes agree.
I used to hold stuff longer. Not anymore while the market continues to be schizophrenic. So far what I have seen this year is bear positions in anything can not be held for very long at all. Bull positions can be held longer but things are crazy. I get a position and make 5-10% and am happy.
Sold my JDST in pre-market in the 5.70 range. Nice little profit. At 7am I was looking at gold and figured it was best to sell my JDST. Will be back on the next low hanging fruit opportunity.
On a side note volatility seems to be the only thing that looks cheap. I'm going to be looking at getting in on VXX/TVIX/UVXY type instrument. Have not done it yet but it's definitely on my radar.
I completely agree with each and every point you make. That is why I say it is risk on. That will be the winner for short-intermediate term. The risk off trade should sell off now. Risk off trade has had a giant run this year.
Your points are all very true and why I think "risk-on" is the winner right now.
Yea, it was a starter position. I didn't have much in it, held on to them. It was only about $1000 worth. My buy today was 10 times that. Total cost basis $5.28. Just sold 1/4 of my total position of JDST on a limit sell at $5.60. Holding 3/4 position now with a little bit of profit now cashed in. Will watch and give breathing room but will also keep a close watch.
Yes I remember and I have seen that big boys loaded up in miners in Q1. What I feel right now is that the risk on trade is a go (junk bonds, equities, etc) and risk off should be selling off (hedges and safe havens). BOTH have been going up and up a lot. One is wrong. Is it risk off is wrong or is it risk on is wrong.
To me the risk on trade is on and is what is correct right now because the FED is still running the show and until they actually do real interest rate increases I really don't see anything hitting the market to stop it. I don't think they will be raising very soon. Economy is hanging in there and frankly even though the market is expensive the problem is that now safe havens are expensive too after their explosive run this year.
Both risk on and risk off are very expensive. I feel risk on is a little cheaper at this point in time. I think risk on is going to win the battle for now.
Loaded up on JDST around $5.20 which is 10 cents below the close on Friday meanwhile gold is down $30 since then.
Looked at many junior miners and see that they are poorly ran and many are no better then OTC type companies. Lots of dilution, bad debt, bad balance sheets and many are insolvent even with gold at these prices. Many need gold to be $1,500 even $1,600 to make profit. Average junior minor is up 600% this year.
I could get burned bad but I feel reward is worth the risk buying JDST considering what the situation is currently.
Gold down $30 last two days and GDX and GDXJ basically not down at all last two days. Seems logical I guess. They passed a new law awhile back. Miners must go up no matter what.
On a serious note I'm holding back and waiting to see how silly this can get.
I hope so. I wanted more shares but knowing how heated miners can get I did not get a whole lot of shares today. I went kind of light hoping for miners to run up another day or two hoping to get cheaper DUST shares. Guess we will see. My guess is a gap up for GDX in the morning and then by afternoon it starts to be DUST time for a coupe of days.
Good post, agree.
From what I have seen the US market was the one that moved nat gas up primarily so I guess the sell off starting Sunday night makes sense to me because US market was not really opened. That would be my guess as to why it started Sunday. I had seen nat gas try to sell off many days before but starting around a couple of hours before US market would open there would be green candles and all dips would get bought up and nat gas would continue on its run. Part of the reason I bought DGAZ late last week because I knew US market would be closed Monday and that would give a chance for nat gas to finally sell off.
I really honestly think nat gas should be about $2.50 but I don't make the market. $2.75 seems to want to hold for nat gas and so I took my profit and sold my DGAZ. It would not shock me for nat gas to recover and go back to $3 but it also would not surprise me to see nat gas go to $2.50. One thing it had to have though was a sizable pullback to cool off the over-heated indicators. It has done that and so what I saw as "easy money" has been fulfilled.
Yup, what is happening to nat gas is exactly what should happen. It has been overbought for 5 weeks. Few months back it was $1.60 and that was absurd to the low side. Then went to $3 and with the supply/demand and fundamentals and the speed that it shot up was absurd. IMO current fair value of nat gas is around $2.50. There is huge supply but demand is looking better. It is hot but it is summer and it is supposed to be hot. Don't see why nat gas should be sitting well below $2.50 but don't see why it should be way over it either.
Natty gas got pumped up for 2 months. RSI in the over-bought zone for 5 weeks. Time for nat gas to come back to reality. After that it could be possible to go past $3 once the insanely over-heated indicators are reset on nat gas. People buying nat gas late last week IMO were not logical in any way.
I'm going to sell my DUST and JDST once GDX and GDXJ fill those gap ups they had last week. Somewhere around there. Miners are way over-heated to a crazy degree. Market is just trying to give away money to me right here in JDST and DUST IMO.
Buying JDST and DUST now.
O man that is awesome.
Looks like we will have a very good day. I'm still astounded how cheap UVXY and TVIX were after hours. Market got pumped to near all time highs again and this time on a wrong assumption. I don't know how high this is going to open tomorrow but it is going to be big. Next EU exit contagion fear will come by next week if not later today.
O man they called it huh? Well I still will wait until the morning before I am convinced but wow. Looks like we are going to have a fantastic day tomorrow. Funny I have always been a bull. Only since April did I start to turn into a bear and then became fully bearish recently. Just felt things are not going very well. Brexit wasn't even one of the things that turned me bearish. Best wishes to you and hopefully we and others will be rewarded for going against the grain and taking the risk. As you said very well though in AH it was not that risky if looked at logically.
Yep me neither. Not counting on it but it looks promising right now. UVXY was so cheap AH I had to buy in again after my trade last week. It was just too cheap and priced as if 100% no brexit. Got some at 9.55 and again at 9.28. Also I bought DGAZ back after a trade and bought DWTI as well. I just had a hunch :) maybe we will be correct. If not I still completely feel it was worth it.
Hopefully you did get some DGAZ. Very good day. I knew it was very very close. I took some profit at 8.88 but am holding some until I see nat gas RSI go under 70 and maybe even 60.
No sorry, don't know any that might have UGAZ shares to short. I don't like to use margin. I like using my own money so I put up with the decay when I play these velocity share tickers.
Nat gas was heavily shorted back in late winter and spring. A ton of covering has happened. The shorting and covering can be seen in the chart if one knows what to look for. That is what drove this whole giant Nat gas rally. Shorting doesn't get talked about much in the media. Media reports what they are told to report. The excuse being put out is that summer is hot. Summer is always hot and although this year may be hotter then normal the Nat gas fundamentals are still poor concerning supply and demand. This whole thing is short covering and nothing more. I look at that chart and it screams shorts got way over extended months ago and then got squeezed big time. That is what happened.
Short covering IMO however is nearing exhaustion and when that fades Nat gas will drop. I see a very typical short squeeze on a commodity when I look at the chart. Nat gas RSI now well over 80 and all other indicators over cooking big time. I am in DGAZ with a half position and down 4.5% but with Nat gas RSI and other indicators to extreme overbought levels as well as the Nat gas chart having a sizable gap up on Monday that has not filled yet I feel very confident that DGAZ will pay me nicely. Short covering is still ongoing however but I believe it is winding down. I feel very good about this trade.
Nat gas RSI at 81. I know the weather is hot but Nat gas is now far too heated and overbought to extreme levels and is setup up for a pullback. On the flip side I would have to ask myself would I buy Nat gas if the RSI was 19 and as oversold as much as it is currently overbought. Answer is yes I would and I have in the past. I have loaded DGAZ for a flip. Full sto and fast sto and MFI for Nat gas also too hot right now.
Thanks and I'm happy to hear you are doing good as well. FWIW IMO that daily candle that gold has today is not a good look at all. If gold stays around here to close out the day then that looks like a classic topping candle.
As far as nat gas. It wants to go down. Someone comes in and starts to buy though everytime it starts to really breakdown. I'm not sure what they are thinking though. Nat gas RSI has been around 75 for 3 weeks. IMO whoever keeps buying to hold back the nat gas selloff is nuts. Doesn't matter to me. Nat gas will selloff and I know it. Nothing and I mean nothing maintains a RSI that high. Not even mining stocks were maintaining a RSI that high for that long when they were sky rocketing. Even oil could not maintain a RSI that high for that long. Nat gas fundamentals are not very good either (supply/demand).