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Good to know, relatively new to ATVI; got into this 2-3 days ago as a chart play only to find out the great news going on in the background. I'm pretty stoked :).
From a chart perspective, closing at .015 today may have been a good thing. It puts us *JUST* under the upper bollinger to start the day tomorrow; where as yesterday we closed far above the bollinger.
Pulling just under the bollinger combined with technicals on the daily chart may allow us to take off again tomorrow; although in my experience Fridays have never been particularly great trading days unless news is released after hours on Thursday or premarket Friday.
If we get volume tomorrow... lots of potential here :).
I read charts; which are indicative of short term directional movement. Some people say that charts don't tell you anything... well they do fine by me personally; it's my weapon of choice I guess. Combined with L2's and you have a pretty good idea of the psychology behind buyers and sellers.
Remember, stocks are driven by people; and yes you can predict what people do. Human beings are predictable.
I should also note that my assessment yesterday had nothing to do with the company itself; it was purely a chart and technicals read only
I hold a large position still.. I am actually in the green, and I've posted my methods I used to do so. It is not easy, but can be done. I will be holding for as long as I can keep this up or until this thing is revealed as a scam.
This isn't an I told you so post and it's not directed at anyone. I simply replied to my post for reference and that is it. I was not trying to bash stock or wanting it to go down. My post, while not the thing that everyone wanted to hear, was just meant to be honest and put out there in the best interest for everyone holding so they would know what to expect today.
Just in case anyone was questioning my character. I am still in this stock for now. The only good thing that we saw today was that it did not close below .0008; which was the previous short term support over the last couple of days.
I hope no one has any hard feelings, and hope everyone realizes in the future that I'm not trying to drive the stock down. I actually made no posts referencing the movement of the stock today on purpose. I know what it's like being a new trader to the pennies and getting hyped up on a stock that previously was a multi bagger. I was simply hoping to help people anticipate what would happen tomorrow so they could limit the amount of stress or anxiety today.
Good luck to everyone tomorrow.
No offense, but a lot of people are. I say this and I disagreed with Charbies chart read yesterday. If everyone was so 'aware' you wouldn't have people pounding their fists on the table demanding Charts, information from the CEO and a number of other things that are easily available to anyone with a keyboard, computer and internet connection.
When people are making decisions which are primarily based on another person's Chart Analysis... which is nothing more than an educated guess/opinion in relation to technicals and patterns... then yes, I think they're dumb.
And this is from a person who has a slightly different analysis from Charbie. I'm not trying to demean you, only pointing out the obvious; if everyone was capable of understanding.. then no one would be asking questions from a person they perceive to be experienced in the market.
Most people can not even interpret PR's right and then wonder why they lost 40% on a news release, not realizing there wasn't a single piece of news in the release.. only fluff. Visit any penny board on Ihub and you'll see what I'm talking about.
I hope people have broke even or made money if they didn't have any liquidity to average down. I've posted this before but I bought in high .0025 and again at .0029.. Then as I averaged down I would sell a small portion at the HOD (at the ask) and buy again at the low.. rinse repeat.
I won't say how large my position is, but I'm barely in the green at $100 up overall since I bought my first position. Which is good enough for me to leave me comfortable as of right now. I've covered my commissions and recouped losses; now sitting in cruise control until we figure out exactly what's happening here.
Just posted this to illustrate that it is possible to protect your initial capital even in a declining stock. It's not easy, and it's a bit frustrating.. but it can be done. Maybe this is why my stress level isn't as high as it appears to be in some others on this board.
lol, is my L2 stuck. jk, pretty stagnant even after lunch. Guess that means everyone is waiting for 2-3pm :).
I want in on that action!
I'm not sure what information they can divulge legally. Also they could very well still be trying to hash the deal out. I've participated in merger negotiations and they are not always fast; most of the time actually they are not quick.
Personally I am not thinking about the merger until I see the news; until then this is a chart play for me.
lol, I don't even play blackjack that way :). Advanced number theory is of great help... facts and math.. facts and math; which oddly enough that motto applies to trading pinkies too :).
Same, I am not a fan of fluff PR that everyone seems to just gush over. Most of the time I see a decline in price when a fluff PR is put out.
Because they're trying to keep a lid on something that may already be completed? Where as the other stocks may still be in the works. This is just speculation but no one can answer your question except Minramar
No clue on that. Someone more familiar with MM practices might be able to answer this.
volume isn't too far off when you break it up by average volume per hour. Yesterday we traded 10m; today we're 1 hour into the trading day and at about 1.6m volume.
Not the volume i'd like to see, but it's not TOO far off.
Don't blame you. Good luck to you in trading. I still post charts if people ask, but if they try to call me out... as i'm sure you may or may not have noticed; I'm quick to identify their flaws as well as, in a socially acceptable way, tell them to go away and I don't care about their opinion. This is honestly the truth, I like looking at other people's charts but I always make my own decision.
This is what everyone needs to do, thinking for yourself is the most valuable tool in your trading arsenal. I'm surprised so many people place their hopes and money in a person on the internet they don't know (this wasn't a swipe at you, this was just a very general statement..).
People seem to have this ridiculous idea that either you or Charbie or one of the other mods are somehow responsible for their financial well being; when really they should be considering this a service and a tool as a means to make their own decision.
You can see this mentality in several posts and it bothers even myself. Seems to be about a 50/50 split of appreciation vs entitlement mentality.
Glad I don't have either of your jobs. One thing I hate is doing a chart or posting information as a favor for someone who can't read charts or too lazy to do the DD themselves; only to have them turn around and call me a cheat and a liar.
No idea how you put up to it.. just want to say kudos to you for dealing with BS.
how many on bid/ask?
Feel like I'm flying blind here. Comcast screwed up my internet service and now I can't remote desktop to my home PC. I can't stream L2's from work.. sighhhhhhhhhhhhhhhhhhhh
oh well, it's going to close green anyway. :)
good info.. thanks for following up on this.
Agreed.. we just butted heads over something silly.. short term; you and I both know what potential this holds in the next few weeks :).
Well said and many people would do well to take this advice on all types of stocks; not just pinks and OTC. I have a similar style as well. I both flip in and out of stocks and I do longs.
You really need to in order to minimize losses and protect profits. After all we're all in this to make money... people need to honestly look themselves in the mirror and ask "what would I do or what should I have done in this situation?" before being so quick to bash someone for simply protecting their money :).
I don't think he was pumping. Sometimes I use fast settings on certain stocks but for most I just use the default. We just had differing opinions on what we thought the short term action would be... I think k-trader and I are in agreement or at least on the same page when it comes to something a bit longer term (with long being a relative term).
haha... the one and only time I think I've been thankful to the MM's for not filling my sell order :).
yeah, I didn't really care where you were. I make annotated charts too and I don't do it for myself. I can easily glance at a chart and do it in my head. I will post charts and give honest opinions if someone asks me.
honestly everyone who was mad should've just been mad at themselves. Never make a buy or sell based on what someone else tells you... do your own charts and due diligence and make your decision based off that. I thought everyone getting upset over you leaving was silly.
While you were on vacation people figured you got out of dodge. If you look through the posts you'll see it. People definitely didn't hide it.
It didn't bother me one way or the other.
I have to disagree with you. In all previous cases the 60 minute chart and the daily chart were in agreement with one another when an uptrend was going or about to start.
This time the 60 minute chart and daily chart contradict each other. Like I said before; I would love to be wrong here. Just trying to be the voice of reason to keep the sanity in check on this message board.
AVTI Daily chart... MACD has a large spread. TRIX doesn't look like it's going to cross with that big gap.. STO shows it might want to cross but the shift isn't enough to confirm that yet.
What chart are you looking at? I don't post stuff just to say it.. I post what I can point to as evidence. A similar situation happened on Aug 4th - 5th.. I said then that technicals would need to reverse and that we would need a confirmation candle for it to be a real reversal (I think I posted an annotated chart with this). The technicals are worse now than they were then... and it needs similar things to happen for this to be a real reversal.
ahh... yeah, had 2 Form T's at .0175 after market close. Still a great position to start the day tomorrow and we may still see a gap up due to the momo at the end of today and MM's might still be covering.
Here's to hoping... cheers :).
think he's talking about from the high of .019
It doesn't change the massive MACD or TRIX spread on the charts.
Not trying to be pessimistic; just giving everyone an honest outlook on what to expect to help keep stress levels low. Trust me I love being proven wrong when ever I read a chart and it tells me there may be more downtrend to come. I would gladly eat my own underwear if AVTI will prove me wrong tomorrow and begin it's reverse :).
good job everyone. We have a nice candle but the technicals still look like crud. I wouldn't be surprised to see some UT in the morning only to have it level out again at .0010 for a day or so before we take off... provided the technicals show a reversal is due.
edit: Let me correct that.. the daily chart doesn't look so great, the 60 minute chart has some potential. We'll see what happens tomorrow. Good job holding strong guys!
Same.. I bought somewhere at .0025 I think (need to look at the first purchase) and have averaged down nicely, but I'd be in a much better position if I had waited or averaged down only once at .0008.
Oh well not a big deal. Just have to wait an extra month to buy my Aston Martin :).
lots of MM's moved up to 18's... looks like this is going to continue to go up in the last 15 minutes of trading. MM's scrambling to cover :).
with 2@bid and 4@ask? Possible but not likely, I sure hope it does though.
saw a shift on L2, prepare for some more weeeeeeeeeeeeeeee
warm and fuzzy :). Still wish I had waited yesterday to buy lower but I'm happy now. Especially with the bullish engulfing this will form if the momo keeps up :)
indeed, We can both start our happy dance and eat pizza :)
anything at .015 or above would make for an awesome day tomorrow...
push push guys, don't let them create such a large spread.
It could just be coincidence but I've been placing bids just under the ask since .012 to reduce the spread... and although it didn't show on my L2 I did see volume come through when I did that.
could be coincidence or it could have encouraged people to buy; but I'm still boggled why I didn't see it pop up on my L2.