Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There's GOLD in them thar hills!!!!
Nothing like bringing attention to a stock that can't beg a trade. Munger Muddle.
Breaking out on zero volume. LOL
The recent volume and especially today reminds me of what I call The Munger Muddle. When we used to play bridge Charlie would describe a condition where a penny stock just can't grab a trade. It comes when there are a small number of shareholders comprising the float who just can't come to terms with reality so they just freeze in place and won't sell, convinced to just ride it to the bottom. They do know enough in their heart of hearts not to buy more.
Bidders on the other hand, lose conviction because there is no liquidity and they fear not being able to get out if they want to, and there you have it, The Munger Muddle.
That is correct for tax purposes but that's not how I consider a position in a stock. I am dead even on AFYG yet have a sizable amount of shares. I am playing with the house's money and accordingly have nothing at risk even if the stock were to go to zero.
Think average cost basis.
If you buy 100 shares for .05 and later sell 50 of them for .10, the remaining 50 have a zero cost basis.
There you go, your junior trader lesson for the day.
Let's get back on track with making the posts about AFYG and not other posters as the forum rules dictate.
My price target for AFYG is .02 by the end of April if full reporting is not achieved by then with volume as bad or worse than of recent.
My price target if AFYG becomes fully reporting is .11 within a month of that milestone.
Probability of becoming fully reporting as of this date, 10%.
Your post makes no sense.
My shares are zero based at this point and I don't need the money. At this point I give AFYG a 10% chance of making it, down from 25% when it resurged last fall.
If they actually do become fully reporting that number will go up to around 40% for me. Any objective observer would have to honestly conclude the price action since December has been horrible so I do understand the frustration of those who have real money in AFYG.
Could any of the frantic fillies point to a post where I said I was going to sell my shares? If course they can't. What I see here today is a lot of doubt and insecurity (well founded)regarding this stock despite all the public bravado. The market agrees with this doubt. People willing to buy 1-2 million shares at .10 but aren't buying anything at .07. LOL
Deadline is the word Corey used himself so I thinks it's accurate to use it.
But seriously, trying to pretend there is no April 1 deadline smacks of desperation. Another bad sign from strong shareholders.
You want a market order? You can't handle my market order.
Corey's own words indicate there is a deadline and that he may in fact miss it. The honest among us know that it is April 1st and the honest among us includes the market.
"so that we can try our best to hit our deadline. There is the possibility that we don't,"
Getting current with the audits was included in the 180 day plan. There was a deadline for completion as he mentions here where he indicates he may not make it. To me this indicates getting current is in limbo. If it does happen it will move the stock, yes. If and when.
"We have had some unforeseen issues and delays regarding the audits in the recent past, so we've worked through most of those, but right now we are just trying to manage the impact to the timeline so that we can try our best to hit our deadline. There is the possibility that we don't, however I will be keeping our shareholders apprised of any changes in our timelines,"
This stock has very little attention, for good reason.
If he had a new committed date he would be remiss as a CEO not to make it public. He doesn't have one.
This cast serious doubt about making the end of the month without a firm committment to any other date.
"We have had some unforeseen issues and delays regarding the audits in the recent past, so we've worked through most of those, but right now we are just trying to manage the impact to the timeline so that we can try our best to hit our deadline. There is the possibility that we don't, however I will be keeping our shareholders apprised of any changes in our timelines,"
So, what is the committed date?
I must have missed the new date he committed to after casting doubt on the end of the month.
This is the one to watch closely on penny stocks. 99% say they are going to do it, few ever do.
"Become current and compliant in SEC regulatory filings and regain OTCQB listing status"
When it goes to an indefinite status like it recently did here with AFYG, that's a giant red flag. That's what I believe killed the trading.
If that were to come to fruition I would reverse my forecast on this stock.
I wasn't saying a large market order will hit today rather how this will end when it does. I give the 180 day goals only a 25% chance of being met and it will get real dicey and end quickly if they are not. I do understand the skin getting real thin around here. Very normal at this stage.
I see this ending with a large sell order at the market. Getting out isn't even an option anymore.
If you all would be willing to stand back, I can try to hit this with the paddles. If not we may have to call a time.
AFYG reminds me of something Warren Buffett told me a long time ago at an annual shareholders meeting.
"All the positive hype in the world will not keep a bad stock up nor will all the negative hype in the world keep a good stock down."
Would you like to use a lifeline?
What would be your second guess?
Next thing you know AFYG will be trading.
Next thing you know AFYG will tweet they are digging for gold.
Looks like AFYG may be getting ready to roll over.
The price action is telling us the market does not believe the the public information.
There was more volume and a much tighter spread between bid/ask. As the volume has tanked and the spread opened up it becomes meaningless and you have to back off and look at the overall trend over a larger segment of time.
With the huge bid ask spreads and low volume as we have had here lately, we have to broaden our perspective on price action. It's too easy to paint the tape either direction for pennies, like today. Accordingly you have to abandon specific predictions and are left in best predicting the overall trend which is still down. Don't get me wrong, I am aware of how much it bites to see what you thought was a steal at .12 drop into the .04s on what you perceive as good news but that's the price of ignoring the tape. Catching a falling knife most always ends up with a wound or two.
Don't fall into total despair though, it could easily get pumped again.
Price action over time is what I use. There are also times when positive price action is a negative read to me. Like that run to .19.
Regarding the referenced questions, I viewed them as silly.
I had a cost basis of .02 before this stock got active last fall. As I told you previously I have been picking it up over time during it's dormant phase of the last few years. I have since sold enough to bring my cost basis to zero. That's the only way I play penny stocks, ever.
If it some how goes to dollars I of course will be happy but I'm not going to pump it in the face of this obviously negative price action.
My investment strategy is based on factual price action not hope. Yours of course, may vary.
If I see what I deem to be a real change in the price action over time my forcast will change accordingly.
I don't care very much.
Rooting does not drive the price of a stock in either direction. My predictions of this stocks direction are based solely on the price action. I would guess I own more shares of this stock than most of the active posters on this board and the even better news is they are now zero cost based.
Is the present price and performance of AFYG closer to what I predicted or what you expected? I know the answer and it's not even close.