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I agree with you Wawa, only I think this could, just could, do another free fall even lower than that. I was in...have been burned and will wait to get it back. There will be a great bounce at some point but not until we can get some real info with regard to sales, revenues, something, and I don't mean fluff.
And…I worry that they might end up on the Pink Sheets…man…if that happens, look out below. And you get no warning, you just open up your account and find its gone pink and the new price is…BLOOD!
I am with you 100% RDWEINERT! That is a good post.
The best government in the world today is China. They have a government that regulates everything, they have executed business people, and I read of two, for corruption in the last year. That’s what we need in this country; I’m not making a joke either. I mean it. 90% of Wall Street would be in their graves if they pulled this shit in China. They’ve turned our financial markets into a casino, that’s not what it’s supposed to be, a system that only about 2% know how to play.
Wall Street and rich folks are against regulation because they know the system better that 98% of the rest of us, get information that 98% of us don’t get to their advantage and that’s how they want to keep it.
I’ve worked with the ‘super rich’ in my profession all of my life, I KNOW THEM, but more important…I KNOW WHAT THEY ARE. And they aren’t very nice; they care for nothing and are loyal to nothing except themselves and their power and their money. They are the least patriotic people there is, they go where the money is, and that’s all they are loyal to.
I had to throw in the towel this morning.
I do think tomorrow there might be a little bounce but I don’t think it will last.
I’m the first to admit I really screwed up on this one for a lot of reasons I won’t go into here.
Charts aren’t really working on this one folks, the charts are NOT always right. If they were, then life would be easy. Most of the time, but not always, the charts are dependable. So…having said that, and take this with a grain of salt, the underlying chart was indicating a possible reversal coming. Today that data that was looking positive has gone negative. Maybe it means nothing as chart information seems to not mean anything with regard to this stock.
I think for that reason I’ve decided to bail though I might day trade it tomorrow if it looks like a bounce in the morning, maybe not. It did not sell off anymore at the last second though and that’s what has happened the last three days, the last five-minute wacks, by MMs I think. There is no technical support now, this baby could, just could, do another free fall to God knows what
This one has just become harder than it’s worth; it’s absorbing too much time and energy that could be placed elsewhere.
All this is JMO, that’s all; everyone has to make his or her own decision, but…if there is a little rally tomorrow you might want to consider using that strength to cut some of your losses.
I’ll keep this on my list as sooner or later, I think there is going to be a great bounce, but until things get clearer and we get more real info from the company then this will drift lower with one day here and there when it bounces (then…back down).
Don't know about long term but this should make a great trade this week. For sure it looks like the bottom was .14.
No…I did not get out at the bottom…yep…I got burned. I did get out and managed to do a quick trade last Friday, actually bought end (end of day, Thursday) and jumped out Friday when it was up 46% at one point. But…back in yesterday at .15, so now I’m down a little on that. I’m determined to trade out of this.
Penny stocks should only be traded, never held IMO.
Could this be held? For a short period, only if a bottom can ever be determined and that’s almost imposible because we have no real fundamntal finacial information with regard to this company. It did bounce of .14 twice last week, which does NOT MEAN it’s the bottom but sometimes when a stock has had a fall like some traders consider that.
Charts can’t be relied on now. But…I think really savvy pro-traders are trading this on fast small profits. I think, just intuition, one more down day tomorrow and one sharp up day on Friday. But, that might be the trend for the short term.
It’s almost impossible to pick a bottom because we have no fundamental information with regard to sales, revenue etc. There were fewer sellers today on lower selling volume. Penny’s are a gamble always.
This should only be traded now until a bottom can be determined, if it can be determined. If .14 can hold this week, that would be helpful, if not…well, it’s a bummer for sure.
CLRH had warrants that were sold to private or select investors at .30 per warrant. Each warrant had a conversion date (the date it could be converted) set at April 21st, each warrant could be converted to one share of stock, simple. Stock was way up, investors called their brokers and converted and sold.
Thus…the fall.
On top of that…traders who specialize in short selling, they keep up with this sort of thing, jumped in and started shorting the stock.
It was a perfect situation for short selling, unfortunately, for me and others I did not discover what the cause of this fall was until it was too late.
Charts are not really effective here. I’m a pretty good chartist, and, this is what I think. Looks
to me that this is going into a trading range between .14 and the low .20s for awhile. Three or four down days with one day that will have a sharp jump, but then back down.
They had a PR release today, but it did not appear on all boards like Yahoo, MSN, etc. Weird.
Shorts don’t think they will have to cover for a long time on this one and I don’t expect to see it go above .30 for awhile unless there is some surprise positive news. Anything is possible as the penny stocks, and I mean all of them, are outrageously manipulated.
It will go up when they, meaning MMs and promoters want it to. Then they’ll pump it up again.
I’ve never understood short sellers, some of them are way up on this and why they don’t cover and take profit is beyond me, I wish I had been short, like a long position, I would be out if I had this much profit.
This one is my big mistake and I’m down but have traded away some of my loss and still working on it.
What started this fall were their warrants, man, I’ve learned about warrants the hard way. Whenever I find any stock has warrants out I’m going to find out when they expire or what the conversion date is.
OK…I’ll go out on the limb. I think the bottom is here. What happens from here I’ don’t know.
The basher ‘s (really the short sellers) are lighting up, does not mean they are covering but means at least additional shorting has stopped. Also, reading between the lines, at buyin.net, that the sec. might be watching this security for manipulation with regard to the short selling.
And, the chart is improving and indicates a possible up trend coming.
Oh – I trade by tech. indicator so don’t bother to bash all that stuff about the company as I don’t care about any of that, I‘m just going by tecn. indicators and just my hunch.
Could be wrong….was in for a loss, last Monday traded my way out for a smaller loss but now I’m thinking we might have some up coming.
Recovered some of my loss. Sold high today, thank god the shorts are covering, but...I think...no I'm not calling anything, but if it can hold today, it might continue up. I don't know and neither dose anyboybe else. It's penny stock. Just follow the chart. We'll see how it ends today. Shorts are just like longs, some will hold too long, they have not all covered.
Timothy Sykes might be a genus at what he does, I don’t know. But…in some sense he is Incredibly STUPID!!! I’m sure you and all of us saw the bashers over on the Yahoo board, all TS bashers, and they were posing that day’s news letter all about CLRH, he did it two days in a row.
Not only was he advising to short, he ripped the CEO and other CEOs as well, I mean ripppppped! On a public website! He named names!
Whatever he made shorting, he better have some real good lawyers, man-o-man…he is gonna need’em.
They are coming for him, he damaged companies.
He’s got such libel suits coming at him; I would not be in his shoes for anything.
I admit…I got burned on this one and am down hard. I did not understand this warrant thing until too late. Warrants issued at some point that could be exercised Monday and were, obviously.
Anyone still with warrant at .30(they were .30 and some .60), well it would not be worth it to sell now.
I suspect, but I ain’t calling it, no way, but maybe we are near the bottom, and I’m sure there will be a one or two hard day trader bounce and I’m planning on trying to trade out of my loss.
If I had been short, I would cash out for sure and be happy, short traders get burned so, same story they stay too long and get caught in the bounce, start covering and that of coarse ads to the bounce, that’s what I’m hoping for.
Hope it goes my way.
THEY DO HAVE PORDUCT
They have product and is available on Amazon and Office Depot. Office Depot is only available on their website not in “most” stores is what I was told, I did not ask what stores it is available in.
The item is also on Amazon, but not prominent. Under light bulbs, I did not find the item, but I typed in Clear-Lite and they come up. Rather hidden.
As far as all the Timothy Sykes bashers, over on Yahoo, who have shorted this thing and made a ton, hey…I’m a trader and congrats! They made lots depending on where they got in at; I would not stay too long at that party if I were short, man, I wish I had been.
As far as a mailing address being a UPS box…so what…lot’s of business today use boxes for mailing. They are a fledgling company, they might share an office somewhere else, any number of issue.
As far as production of the product, DUH...I’m sure it’s manufactured in Asia like everything.
There is an interesting post over on Yahoo, right now
3:45PM PST Friday) you guys should take a look.
It’s: "CLRH conversion was at .30"
Read it.
The party sounds like they know what they’re talking about, maybe, maybe not, but is very cogent for sure. I’m going to make sure it stays at the top all week end.
Sure it is catdog1.
I’ve posted this and I’m sure everyone thinks I’m nuts, you know about conspiracy, but I could care less about that. Besides, I met a short trader who gave me an education about how they operate, and man-o-man, do they operate. To be more accurate, he implied how they operate without saying he participates in such things, just that he’s heard of such things, the sly little devil! They are a real smart bunch and yes, they really do work in teams and do the bear raid thing, totally illegal but in this day and age, impossible to prove. But I can assure you, it goes on every day, like Blackjack teams, you know the card counting thing.
Look at the action on this thing, Monday or Tuesday, whatever that day was of the first massive sell off, like all the little retail guys decided to sell at once, sure! They all called one another and decided to take profits. It was short selling from day one, now massive panic sell right into their hands, like poker.
This is organized shorting for sure and I’m sure someone has alerted the SEC by now, but they see this all the time, nothing new under-the-sun to them, they get these reports everyday but don’t have the manpower to take action on every one and these teams know it, rarely is any action taken.
Raid!
I think we have a bear raid going, organized, but hard to prove in the age of the cell phone. This is shorting, not retail. Maybe retail now, panic retail.
Dang! If I was a shorter I’d cash out and run but shorters are smart, that is the good ones; there’s a whole psychology behind it as much as technical. I'm met a couple of short traders and they are a seperate breed. They never cover when everyone thinks they are going to, plus, if they're working as a teem, they've got to be careful, can't cover at the same time.
So…are they going to cover or short more?
Interesting if nothing else.
Really!
I'm looking to play the bounce but can't figure where that will be as the charts can't be used at this point after this kind of parabolic sudden move, but...at some point the selling will end and there should be a nice bounce for at least a day.
Anyone have an idea? Or...at this point, is it even possible to tell as technical data is useless.
That news id old as the hills aad now baked in. Charts now indicate an uptrend in ASFX.
Giant walls ? What does that mean ? I've never heard that term.
I've seen this lot's of times. I find the bid when it's after hours like this is often correct. Here is was I just posted on yahoo. It's just my guess.
The reason I think, again…I’m guessing here, is because if you go to ihub, they show after hours bid/ask. It does not specifically say it’s a/h on the bid but it is. I have found the bid on ihub is often correct on the open, not always but usually. This is what happened last Friday when we ended eod up 22% when it gapped down at the open, and then ran up to 46% before coming back down to end at 22%. Thursday night the bid on ihub was 0.0157, right now it’s 0.0156. I thought it was all the people would had $ cost averaged down all wk getting their money back.
Just my thought and is good as any body’s.
I probably should not post this, I know the pros monitor these boards to see was we are thinking, or so I’m told.
Any who…
We’ll see
I bought more today, not a bunch, just a little $ cost averaging.
I hope it's down tomorrow like 30% so I can really back up the truck!
NOT A BAD DAY
I admit, and I posted last night, I really was expecting a washout today. To my surprise we are up nice for the day, not as good as the 46% were up this morning. Still, it did not sell off at the end of the day either.
Could we maybe have a few up days?
After the last eight days, it would be nice.
Please God, please God…
Would be great to see .03 next week.
You might be right WYLDER!
We will see…you never know. Just like poker. PH will be interesting.
HEY! I’M HAPPY TO BE WRONG, HOPE IT LAST
I posted last night that I thought this would tank today for sure, and a little more on Monday or Tuesday before exhausted.
Hey…I’m thrilled to be wrong today, a great surprise this morning.
But…I’m still cautions! Hope this is more that short covering or a morning bounce just to give it up in the PH. Or…MMs or shorts just covering only to short again Monday. It’s like poker, just like I said in my post.
Let’s see what happens at the EOD. If we can hold most of the gain I’ll be encouraged.
Let’s keep our fingers’ crossed!
SELL AND LETS MOVE ON !
I did well with ASFX, bought it just a few weeks ago at .014 and sold on that day when it ran up 90% after day-after-run ups for about ten-days I KNEW it was time to sell from experience. Believe me…I didn’t have any particular feeling for ASFX when I bought it. It was just in my portfolio and it started to run, I got lucky on this one. That’s how it is with these pennies. When pennies do go up, they go parabolic for about a day, usually. This one ran for two-weeks before the final clash of the cymbals and I sold on that loud note.
I see people on these boards trying to use charts, MAs, volume and the stuff you might use with mid-cap and big board stocks, and even there most of it does not really work most of the time. Let me tell all of you something and sorry if this isn’t technical enough as all that stuff seems to be what people need to react to these stocks, charts, data and more data. It’s all BS! Most financial markets are controlled to a large degree, far more that most people want to believe. The stock market is a poker game, that’s the best analogy I can think of. Lots of bluffing, head-faking…just like poker.
I’ve played the pennies for a few years and have had my share of losers too.
I know some of you bought high, that’s above .04 and are still holding thinking it will bounce and you’ll get back to even.
Forget it! It probably is not going to happen, OK…it MIGHT…but experience tells me no. Why? You’ve made a mistake already believing that pennies are an investment. THEY ARE NOT INVESTMENTS! They are literally slot machines! Have you ever been in a casino and see people at slot machines when they hit a nice little jackpot and instead of walking with it, what do they do? Almost every time they will sit at that SAME machine and lose it. It’s exactly the same with the pennies. They hit on some press release, or something, everybody jumps in quick, the price is driven up real quick and the smart people sell fast and walk. Or…and this is very important…professionals come in at the peak and start shorting the stock back down. And yes Virginia, you can short pennies, you can short anything if you’re the right client or a pro. Brokers won’t let the small guy, like you or me short and the penny’s, but the pennys CAN BE shorted. There was, a long times ago… regulations with regard to shorting stocks under a certain dollar amount but those regulations got gutted in the Bush years so they could have the ‘Wild-West’ gambling environment that they wanted. I’m not knocking it, I rather like it. But…it is a game, most folks haven’t gotten that the rules have changed and operate like it’s still the 1950s or something. Study and play poker, those are the new rules, sorry if that’s not want you want to believe and you think endless data and charts is where it’s at, maybe on the big board’s…but the pennies? NO! The pennies are gambling.
Ok…here is the real bad news for those of you who are still sitting on this…you’ve lost! It’s OK…we all lose in this game from time to time. I have and will again (in the long run I win more that I lose). Why…because the MMs (market-makers) and shorts are in control and they want this stock back to a certain price where they will go long again. They are making their money on the way down and they will make it when it goes back up. YOU AND I ARE NOT IN CONTROL OF WHERE THIS STOCK IS GOING! No matter how much we all might jump in, theoretically, and buy the powers that be want it back down.
Even at around .02, this is still up huge from just a couple of months ago, if you look at any chart you’ll find this was around .003 or .004 before it made the big jump to .02! So…as can you can see, it has the potential to fall that far. I personally don’t think it will go that low again, but maybe it will, but certainly I think we will see .01. Why…because that’s where the pros and shorts want it (or maybe lower) and they control the price.
I could tell you a lot more but I know your attention spans aren’t that long and no I don’t mean that out of meanness’, it’s the way our world has programmed us.
The last reason that few can make money at the pennies is you don’t have the time, you work. I’m retired and this is my little life now, I’m at it all the time, morning till night. You have to be right on top of it, these things can gap up 100% for an hour and that’s it! If you’re not right in front of your computer and weren’t around, you missed it! You’re got to be right there all the time.
Now…I’m waiting like a spider…to jump back in. Tomorrow will be, I think, bad, it’s Friday and most traders don’t hold over the week-end (of course they’re out anyway) and I think this will be the biggest part of the sell off and a little more on Monday and Tuesday. But…selling exhaustion is near and fear and frustration are weeding out the week players.
Hope someone gets something out of this and helps in the future, at least helps you to not lose so much.
Oh – one last important thing…with penny stocks, I don’t give a rip what stock it is, or anything about fundamentals as that stuff does not apply in any way to penny’s, get in on anything that is close to its fifty-two week low, never jump into any penny that’s up much more than twenty % off its low fifty-two week low. Sell fast…usually I’m happy to settle for fifty % and I sell and move on.
Good luck to all and to all…a good night.
Dose any one know what the float is for Sponge?