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I also have scratched my head frequently over the whole KATG split. Why not merge the entire company into the BB shell? One simplistic answer that I've had to entertain....to sell more stock. Selling more stock through an added company is an easy way to finance operations, and wouldn't dilute KATX.
To clarify my last post, I was speaking of the action on Friday. If we would've closed up that would've been a good sign of a reversal forming.
I wish that was the case, but bottom needs to be confirmed, and there's no reversal confirmation yet. Sells outnumbered buys about 3:2 on decreasing volume, and short interest was still prevalant. Shorts still likely have a week or so to try to beat this stock down and cover before a drill target date is announced. After that hopefully we can start rising through supports. All IMO.
Or they could wait for confirmation, ride the wave up, then look to reposition. There isn't a "freeze" on shares when results are announced. Results are at least a month off, I think we should've learned that from Handcamp. Plenty of potential entry points left before we get anything back from RR.
Hmmmm, makes you wonder what Gump's position is on this stock, hmmmmmmmm. LOL. Drink a few for me this weekend, I'm the unlucky SOB that's workin'.
I disagree, they happen frequently to pink sheets with a high market cap. KATX was one of them.
I'm no T/A pro, but this week we obviously fell out of our trading pattern to the downside. Still decent short interest here, short volume accounted for 40% of total volume on Thurday, 20% on Fri. I've speculated the short attack will continue until the market cap is under 40M, that would put us around .06. Indicators say more downside. The veteran TA guys agree with this (more downside likely). Lowtrade gives his opinion on his board if you're interested.
That was a buy IF support holds, we fell out of our last trading pattern badly, now it's sit and watch and see where it settles. Getting to and holding .09 will be key in the coming week(s). This will probably move north on drilling anticipation, but until then, the chart rules, and the short term chart doesn't look promising no matter how you spin it. As I mentioned before, still quite a bit of short interest here.
Believe me, I know why I am here and all the reasons to be excited, but when emotion gets involved in trading you have these HUGE fluctuations of PPS for NO reason AND SHORTS CAPITALIZE ON THAT. When they see emotion high they see how low emotion can go at the same time, when they see levelheaded investors they know they're not going to be able to sell the PPS down the river like they've done here.
Just look at the short interest that's still there, they're still betting they can shake down the PPS, and the charts are on their side right now, no denying that. I've tried to voice a reasonable opinion so we don't run for the hills like we have the last couple weeks if there's a shakedown to .06 or so. Dismiss or agree with my opinion, do whatever you have to do.
No, KS never mislead anybody, but some of the pumpers on here starting talking about huge expectations of this little company on a short time period, and people got emotional about it. Then when the real world happened and there were delays the emotions played into the PPS again, driving it down. Need to approach this one with a level head. The real value of this company might not be known for years (yes, plural) down the road.
I agree 100%, I've never questioned the Stead's other than having reservations about the KATG split. They need to get their ducks in a row and move at a deliberate pace. Having unrealistic expectations of timelines and what is going to take place has hurt this stock. Having realistic expectations is very important from now on, one step at a time.
That will be a great day indeed. As long as we're pink MMs can move this at will. Short interest was 40% yesterday also. We can't get to the BB soon enough.
I'm not sure what you're getting at. Are you talking about RR or the carpetbombing that's been done to this stock the last couple weeks.
Sorry, I'm not buying on rumors right now. The one thing I've learned is that so far everything has taken longer than expected. Which is fine, but I'm not going to say "RR drill date any day now". When I don't believe it from what I've seen. I think to say we get a drill date in a couple weeks would be fair based on past experience, actually, past experience would say it'll take longer, but I'm counting on this time around being a little quicker than HC.
I also don't THINK we'll hit .05, but from what I've seen done to this stock over the last couple of weeks, anything is possible. One thing I do know is that we should have VERY strong support at .06. I don't like being red in this anymore than you do, but at this point I'm willing to wait it out and see where it settles. Fighting against MMs is useless.
Haha, yea, forgot about the holiday. Volume should be quite low.
Judging by the previous timeline established at HC, we probably have at least a couple weeks before a drill target date is announced. No matter how much buying power we have here, short positions by MMs will almost always win out. Short volume was only about 20% today, it'll be interesting to see what Monday holds.
I thought that "wicks" didn't count, it had to be the body of the candle for the day for the gap to be officially filled. At least that was the school of thought I was using. The one I'm looking at occurred beginning of May. That's just my humble interpretation.
Just to add, going from the Lowtrade school of thought, I also see a gap that could possibly be filled at about .062-.063. When you add up all the indicators (short interest, broken support, 40M market cap), and factoring in the strong support we should see at .06. I think it could be very likely we see a price hit in that range and should hopefully see a strong reversal and hopefully fall into an ascending trading range. Things could get interesting this coming week, as if they aren't already I guess. Good luck to all.
I saw that the venerable Lowtrade also thought a further downtrend is imminent after we hang around .08 for a couple days or so.
Actually I've only been involved in pinks for the last 6 months or so. It's been an eye opening experience, nothing like big boards. You have to learn quick or you're going to bleed all over the place. I've asked a lot of questions and learned a lot from veterans here, I still have a ways to go. GLTY.
Short volume accounted for almost 40% of trading today, downward pressure is still there. In the past I've seen that pressure continue until the market cap is under 40M, then ease off, 40M MC would put us at .062, so a dip into the .05x range is very possible.
To everyone here I don't say this just to be negative, but PPS is going to go down until short interest eases up. I hope everyone is freeing up some funds to take advantage of this possibility.
There's nothing wrong with trying to increase your position whether through trading or adding in the dips. My opinion is that lately the MMs are in control of this stock and there's a ton of volatility that didn't end today just because it closed green. Smart money is waiting to see where this is going to settle. If it settles at the 200, fine, if it settles at a 40M market cap, fine. I'll resume buying when I see some support.
That's what I've been thinking the past couple days also. I'm holding off on any more buying for now, I really want to see what this does the next week or so. The one day we ran up to .115 and closed down at .08 was huge (in a bad way). Broke support like it was nothing, traded like a typical pink. Looking for very strong support at .06 for right now, can't see it getting much lower than that, as I think short interest will be low with a market cap at 40M.
Our current situation created the perfect opportunity for shorts to carpetbomb this stock. I really hope this KATG split works out in the end, because so far KATX taking a beating because of it. We just have to hope the downward pressure eases soon, as of right now I think PPS is still on the run. I wouldn't be surprised to see another shakedown before this is done.
For the record I'm not saying it IS going to go to .06. I'm just saying it might be a number to look for if the downward pressure continues.
I'm sure he would too. We have to just be realistic about the short term. It's possible that the stranglehold on this stock right now might push it to where the market cap IS under 40M. That's not far fetched for our circumstance. Just be ready to take advantage of it. The shorts will only attack to a certain point. The 40M market cap is the magic number quite frequently. That would put us at around .06. Look for it.
C'mon guys, are we really worried about KATX's address now? Nothing has changed about the company, this is just going to be a volatile month or so until we get a target drill date, then we should start keeping our gains. I'd suggest either playing the waves or adding in the dips, things will settle down eventually. The short term doesn't look very good right now, I'd suggest taking advantage of it.
If KATX needs to get its market cap under 40M then let's just get on with it. It's well known pinkies with a market cap of over 40M get shorted, now with the delays and uncertainty, they are having a field day. A PPS of .06 would do it, .05 would put it at 30M. Did I mention I get agitated that KATG was the first to go to the OTCBB?
No, it doesn't at all. We've all seen this before, look for more downward pressure tomorrow. It kills me that we didn't keep ANY of the gains today, if we kept ANYTHING I'd feel a whole lot better about the rest of the week. We need to see a green day very badly, everyone has their limits. The weekend can't come soon enough.
By dumping their own shares to create a selloff or naked shorting, either way it's manipulation. It's days like this when I get agitated that KATG will be the first off the pinks. The only thing that bothered me about KATX was the bad attention pink sheet stocks with a market cap over 40M got. The shorting on these stocks are bad, I think that's why all the shorting with KATX. We NEED to get off the pinks.
This action is rediculous, I hate to say it but it looks like more possible downside judging by today's action. I really really thought we were going up today, although we were....for a little bit. The MMs are in control of this stock.
Wow, today's action is laughable, a spike to over 20% up and then a possible red close. I guess someone isn't done dumping quite yet. I'm tempted to just not come back for a month.
Which, coincidentally, is where HDSN is at the last I looked. I don't think it'll take much to get it there, what will be interesting is to see what happens when it gets there. Good luck, i know you're itchin to pull the trigger. ;)
After a day like yesterday, I wouldn't be surpised to see MMs let this run up a little. Especially if HDSN is done with the bulk of its selling. If they are, which I think is the case, we should be able to move up with less effort.
Yep it was a great buying opportunity. I got my average down to .09. I never like seeing that happen, as you know that MMs are going to run the price right back up and turn people into suckers, but I never thought I'd have the opportunity to average down like that.
How you trade is completely up to you. BUT, in my opinion, if you held through all these red days I wouldn't sell now, as I think that HDSN is done or almost done unloading and we'll see some green days this week.
There was no fundamental reason for this decrease in PPS, other than some major unloading going on through HDSN. As we already confirmed today, a major investor had to unload 4M shares. I'd bet my paycheck that longs who held from the low penny days probably took some profit as well.
That's what I'm getting at, but I'm not accusing anyone of anything. I just know that HDSN has dumped a ton of shares the last three months, they were dumping whenever this stock moved up. IMO a big investor was selling off. Probably someone who was selling them even today for a healthy profit. Shorting is another possibility obviously. Whatever it was, it appears that it's coming to an end. Also, as far as pink sheets go, KS has been pretty transparent IMO.
Yes, but would all the Stead's holdings be considered part of the treasury?
That article outlines the reasons some of us are salty. KATG is going to be the mover, and all this beating KATX has taken (due to short term uncertainty) would probably be negated if everyone could see their gains with KATG, which should be pretty good. But we can't see our gains with KATG yet, just the short term fluctuations with KATX while RR drilling gets going. I said this week was going to be a gut check, hopefully things start looking up. I think they will with HDSN easing off the ask.