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Put it to rest. It's exactly because they are so manipulated that it works better than the big boards. They're manipulating it to form the formations they do. That's not retail.
You couldn't chart my AAPL or TSLA if you had to.
Know what you don't know. You're in over your head.
I just have no tolerance for the dime-a-dozen nitwits that pervade this site. They just wanna scrap.
Honest to Chr*st, they bring worst out in me. :)
Hey Invest,
I'm absolutely looking at the same, but if you flip to your 4 hr, it is precisely following that 5 day resistance downward, to a 'T'. That will be the high with each update.
I'm watching that closer than the daily, until this turns, for a better view, and a twice a day update. It updates at open, and at 1pm.
With each update that we haven't closed above it, it ticks down, and pulls us further down. If that 5 Day reaches the 77's before we can close above it? It'll yank us down to the next level of support.
Not a thing to do until we get a close above that. That will be my first indication of a turn.
Yes, news may come in the mean time. I'll take my chances for the best buy.
GL
Hey J.
Yeah, we're pretty much on the same page here. Watching closely!
Good luck!
I don't care if it takes until Tuesday. You guys always come out of the woodwork if it doesn't happen that very day.
Been 100% right so far. And you?
If we get there, in the days to come, then it's correct call.
Who thought we'd still be going lower? And I'm the crazy one.
Don't be a baby. Learn this stuff.
No pm, J. I personally choose not to give iHub any money for all the unnecessary censoring and deletions over the years. Not going to pay for that. :)
In terms of the chart you asked about, really nice looking, except for just how overheated it's becoming. May still get another few days of gains, but it's a crap shoot over an 80 RSI. Not weakening yet though.
Don't care for the stop sign on OTC.
History of R/S is reasonable, though.
This is one I'd play on the way down, after it makes the turn. Too risky for me where it is.
GL
You're also a bit out of your depth. Not a one-day event as I said earlier in the week. You continue to find multiple layers of resistance closing down on you, bringing you lower every day. You did lose another 10% today.
You are marking lower lows every day, just as the trend is showing you would.
Add one more layer of resistance at .01
Two days ago, it was support. That is not the case now.
Still tracking toward 77's. If we hit it, I hope you go away with the rest. Maybe hit the books. Learning is your friend.
Another day will validate your extreme lack of experience.
The scenario you cited found itself buoyed by at least one major moving average. This time, you have (3) ramming you down from above AND a descending trend line.
For the record, PCTL's close today was at least as weak technically as yesterday's.
We continue lower. Stop trying to fight this. There is much you're not paying attention to technically.
Also, money flow continues to bottom out. This is NOT a sign of big player interest.
At the VERY LEAST, you needed a close above .0108 to show some sign of a possible upward climb. No go.
I am bullish on the company, and I will buy when the chart tells me to. I think I'm safe on a news release for now.
So what you're telling me is, after all your bluster, you got the value and the date wrong.
Here's the deal, you have to go further back for stronger support. Your 85s were a one day dip, which hold VERY LITTLE strength in terms of support. Especially when the downfall is so fierce. 85s will hold for a sec, like the .01s, then fall further.
I got this DC. Worry about you.
Dude, that's not going to hold. Going lower 2nd half of the day. Intra day indicators are so weak right now, you better hope the 7's hold when it gets there.
You can bounce all the way to .0114 today and still be in the downtrend, so don't get too cocky about your bottom call.
Now that the psychological .01 barrier has been breached for the second day in a row, the sub-penny game begins in earnest now.
Stay focused, peeps!
I agree with that. I also think people are getting weary with that idea. Money flow right now also suggests no one racing to load before the weekend. So far.
You're right about one thing. Yesterday's drop means nothing. We go lower.
Geocam, every tick down at this level, someone is going to think it's the deal of a lifetime. Expect those ask hits to continue, and then lower it will go.
"Yesterday’s quick dip below one was bottom. Slap the ask."
Still want to keep with this statement?
People have been calling bottoms for days, with no rhyme or reason to justify them. That's not a club you want to be a part of, is it?
News has been expected for weeks. Yes, this time may be different. In the meantime, technicals are very much running the show.
Maybe for YOU, there's no reason to sell, but that may not be the case for those too frustrated to wait this out any longer.
Add to that, the unlikelihood of a news release this late in the week. That will add to today and tomorrow's weakness.
Come Friday, you will have typical Friday sellers, who won't hold over the weekend, or need cash now. That will add to the weakness.
There really is no support at .01 here. Sub penny the strongest case to be made here.
.0077 is the next level of support. And we are still tracking there.
I didn't realize that was a thing. Trading the OTC is crazy. That's crazier. Ha!
Still looking for .0077 by Friday.
Stay tuned...
You are undoubtedly in a much better position than most. For me, the risk was manageable to bail, and swing for the fences on multiplying my shares, with a shiny, new cost average.
Whatever you're doing Deuces, seems to be just fine. I mean, who am I to dispute a man with a Gallardo? Ha!
The company still has real product, making real money. Yeah, I see 4's and 5's again without a doubt.
And yes, the Apostle is a funny one to have around. Will short a stock 2 ticks off the very bottom in trips, but when there's a straight 30,000 foot drop to next support, it's BUY BUY BUY! Going GREEN GREEN GREEN! Ha!
SKYDIVING WITHOUT A PARACHUTE 101
No, I wasn't advising any such thing. But for those nervous about missing a run, or don't have a plan to begin with, they can still profit in something such as this.
And no, I also don't abide by the buy and hold no matter what on the otc.
I cited the example earlier of bailing out when support breaks, and buy back lower. Too many people are afraid 'news will drop' and they hold no matter what. News NOT dropping while your stock is bleeding profusely is the more likely outcome.
But buying lower doesn't work for those that don't understand the fall from one support level to the next. So they stay in. Fine.
Ok, I for example have a million shares at 2 cents cost average. I see that the bottom has fallen out. I know with reasonable certainty, it's going to half a cent. I then follow this down until support hits, or a bottoming signal goes off.
If I get my half a cent, I not only have 4M shares, to my previous 1M, but now making money out of the gate, rather than waiting on my 2 cents to start profiting again.
So by the time I get back to even, rather than if I held, I'm up $60k. And I still reap the benefits of a run after that.
To me, that is how big money is made. Multiply your position with the same funds.
None of this works if you don't understand TA (or believe in it).
Buy and hold, good for some, not for me.
And that is a strategy worth adopting for many. Given the news anticipated, this should easily run for upwards of a week. And if you made the absolute 'worst' buy at the top of day one, after news, you will still be gaining big for days, with a solid exit plan.
Much respect, Godfather.
Everything says we're still going subs tomorrow. Get your wallet ready.
You're an honorable man, 4x4.
GL here.
You're doing well, Beer Money! Just leave a little bit for the very bottom. I'll post when I get the signal.
GL
C'mon, DC. Is it really that much of a stretch at this point? I've already heard how crazy I am all the way down. Nothing new there.
Well we're gonna find out soon enough, aren't we?
It's a pretty aggressive move happening now, for sure.
The smiley / LOL / Bwahahahaha-count seems to be down today.
Yes, charts work exactly as they do on the big boards. But you gotta know how to chart a big board stock in the first place, as many have NEVER bothered to do, because they regurgitate the same old fallacy about the OTC.
That's OK. Makes me the money I need. :)
And to be honest, support at .0077 is really pretty week. Not ruling out .003 or below, by the time this is done.
Go ahead, bring the hate mail. :)
This move is not quite done yet. It will be fishing for .0077 in the next two days. A slow down on the fall at .01 is expected. It's a psychological level, just like those that sell at a buck. But then it should keep falling a bit.
For those that think people were stupid for selling yesterday and before, it's not about 'taking losses'. It's about seeing what's coming for next support, and realizing they can double, triple, and quadruple their holdings. To me, that's a smart way to go.
I don't worry about news in a fall like this. I can count on one hand the times news has come during such a decline. The move will finish first, because it is a coordinated effort to allow larger players to get their fill.
Believe, or not believe, it's all coming to pass.
I'll buy back in when a signal for the bottom tells me so. No need to buy all the way down.
Watching tomorrow closely, but think it goes to Friday anyway.
If nothing else, I admire your tenacity. But when will your calls ever pan out? Is this 'classic capitulation'? Seems the RSI does lie, after all.
Several more days of red, Apostle. You REALLY don't want to keep calling for a bounce here.
Did you learn NOTHING working for those MM's? Were you guys just drinking all day?
It will continue to slide during the week. Period.
Glad you pointed that one out. Did you notice the part of that thread that said we needed to close above a certain level at 1pm, and only THAT would bring us to .02's?
A lot of people on this board who are not good at this.
And your call to 16's? You know where your 5 Day is? .0157
Before we opened, I said we would bump up against that.
Seems I nailed that, too.
Keep trying Junior. I got this.
I didn't say it would happen in a day! This is a prolonged slide. You know you're going down for the rest of the week?
Do we REALLY want to score who's been right and who's been wrong the whole way?
Oh, they're comin'. And I seem to be the only one that sees it.
So make all the smiley faces you want. I'm used to being the only left standing on these calls, time and again, when all is said and done.
What did I tell you this morning? This will be a multi-day slide, it will bump up against the 5 Day, and then will continue lower. You have a ceiling that is descending, with no sign of letting up. So glimpses of green are a given.
No idea why anyone is so frantic about buying at this level when you will absolutely get much lower prices. But no one seems to know that.
It is orchestrated, and it is easy to see. The close last night said where this was going today. So why was no one else aware of that?
I'll be the contrarian. Usually am. But I also know how to read this stuff.
I'll wait for the bottom here later in the week.
"The RSI is your compass in trading."
Hope you hung onto your receipt for that compass of yours. Hey, maybe it's still under warranty, 'cause it looks like you got a bad one.
The fall will intensify throughout the day. Definitely not green, despite your cheers.
You're like Fox Mulder with your 'I want to Believe' poster over your desk.
It's real. It exists. I've seen it.
"The RSI is never wrong."
Painting with too broad a brush there, Apostle. Though we may be discussing oversold here, what about when it gets overbought? If we went on RSI alone, why would some come crashing down at 75, while others run in the 90's, grossly overheated, for days?
RSI alone will leave you making bad decisions.
You should get a heart tattoo on your forearm, scribble out 'Mom' and replace with 'RSI'.
So many other factors than that.
Sorry, but down we go.
Ooooh, I'm gonna save this one! This will come in handy!
We'll disagree on that. It's all about the chart now. It may have been naked shorted. No idea. But that has altered everything surrounding yesterday's action.
If you bounce, you'll only smack your head against the 5 Day until continuing lower. And every day you don't clear that hurdle, that MA ticks downward, pulling you with it.
No bounce, because there is no support. Or where do you see support? Maybe I went a little blind overnight.