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After hours trades:
Time Size Price
16:02:13 4215500 .0025
16:02:37 3929000 .0023
Here the deal. I rode this all the way up to .007 and didn't sell one share. I started buying more at .0044 and down. I'm down $10k from last week's peak. Yesterday the stock didn't drop and was hoping we would go up from there. I bought more yesterday. My average is .0033. I started to buy UATG last December. I get up this morning and see the outstanding shares has increased again. I really don't see how this stock can go up right now if it keeps getting diluted. Do you really think I would show up today and start bashing this stock? If I was a basher don't you think I'm a little late to the party? I have cash and can buy more. The point is I'm not buying anymore UATG until the dilution stops. Also I know a lot of people here bought more of this stock this week also. Our reward has been more dilution and a continued decline in the stock price.
Oh I'm sure your order for 0023's will be filled before end of day. If the market maker has to fill for Alex he will take any sizeable bid before the end of the day. Nobody buying here only selling. And you could argue the ask is thin and under normal circumstances I would say it is but there are no buyers any longer. I think we all have been tapped out all week. Beating my head against the wall for being so stupid and buying more all week. Rode this all the way up to .007 and sold none and rode it all the way back down buying all week. Well not buying anymore and obviously by the price action today nobody else is buying today either. You would have to be living under a rock not to figure out is going on here now after being biatch slapped all week.
Have been watching this and actually drinking the koolaid about reverse merger coming and going to make a lot of money here. Problem is this stock is being diluted pretty much daily now. You would think they could figure out how much money they need and then dilute one time and maybe this stock could catch a bid. All week the bid builds and gets slapped by the market maker selling shares for UATG. Oh wait order just came in for 600 shares for .0027. Who the heck puts in an order for 1.62. Market maker games. Trying to get people to chase the ask. Bottom line if this stock continues to be diluted next week like it has been this week it will be at the .001 range or less. Doesn't really matter what the future is for this company. Bottom line they are sucking more money out of the share holders via the market maker. Point is once this hits .001 or less it gets harder to suck more money out of the shareholders and the public.
I agree. We really need this information.
Good post.
Nobody picked up a large chunk of shares today at the low. Here are the time and sales.
Here is the low of the day .0207 trade for 185.26.
09:56:09 0.0207 8950 OTO
Someone sold at .0255 for $1962.12.
15:26:59 0.0255 76946 OTO
Pretty steady for the day. Between .027 and .028 for most of the trades.
15:59:44 0.0309 2000 OTO
15:59:21 0.029773 3054 OTO
15:57:17 0.028 80000 OTO
15:49:50 0.028 25000 OTO
15:45:36 0.0309 1500 OTO
15:41:55 0.028 100000 OTO
15:26:59 0.0255 76946 OTO
15:15:47 0.027 4200 OTO
15:15:47 0.026655 4200 OTO
14:48:33 0.0252 800 OTO
14:37:36 0.0289 35467 OTO
14:31:14 0.0275 22000 OTO
14:31:13 0.0275 8000 OTO
13:25:05 0.0275 1100 OTO
13:19:19 0.0286 10000 OTO
13:17:58 0.028 12200 OTO
13:17:57 0.028 2800 OTO
13:11:31 0.028 14000 OTO
12:59:13 0.028 37000 OTO
12:37:16 0.028 7644 OTO
12:33:41 0.0286 4100 OTO
11:59:01 0.0286 6666 OTO
10:01:46 0.028 2644 OTO
10:01:45 0.028 2356 OTO
09:59:27 0.021 2500 OTO
09:56:09 0.0207 8950 OTO
09:48:59 0.0276 1710 OTO
09:48:58 0.0277 1710 OTO
09:39:09 0.0276 10000 OTO
09:34:53 0.0276 20000 OTO
09:32:01 0.028 46000 OTO
When they gag the TA and put out positive news the perception is they are diluting the stock. Any smart CEO with a long term view for the company wouldn't gag the TA. It keeps investors on the sideline. So again with the TA gagged and no 10Q no idea what is going on. Hopefully the 10Q shows up here soon so people can figure out what to do next.
Yesterday on the bid there was an order for 299900 shares and then 299900 showed up on the ask. Before the close yesterday someone grabbed 50000 shares and then 249900 was left on the ask. I see the 249900 shares are parked at .0286 today. So looks like a flipper from yesterday. I guess if people want to dump 300k shares at a time into a flipper's hands they will continue to flip. Also have wondered if this is the MMs doing this verses an individual trader. Really no oversight on these pink sheet stocks.
I closed my level II but before I did there was an order on the bid for .026 for 299900 shares. Now 299900 shares are sitting on the ask at .032. For those of you on level II did someone sell 299900 at .026? thanks
To be honest I couldn't go to the point of saying toxic financing. Also to go from 17M to 100M would be a stretch. I took my first position in OMVS on April 20th and added here and there. Haven't sold any shares. Do I wish I sold on May 3rd sure but I didn't. I like the potential here but I don't like not knowing share structure. Hopefully we all know what the share structure is here very soon.
I have been on Level II all day. Crazy spread right now bid verses ask.
Yeah currently flying blind here. Company needs to release the 10Q. In regards to OMVS share ownership I believe OMVS common shares are non-voting shares. So if you own 5% or more of the common shares you don't need to file Schedule 13D with the SEC. Based on the last share structure report getting close to 5% ownership isn't really that hard to do here. Need to know the new structure to see where we all stand. Also since the trend is down no sense buying shares right now. The chart is looking pretty bleak. Might as well wait for the 10Q.
This selling is beyond people that may have gotten in at a higher price. I have a fairly big position in OMVS and I like the potential here. But it seems the company must be diluting shares. Really need the 10Q to see what is going on share wise. Based on the last known share structure I would significantly increase my position if this goes under .02 but not knowing the current share structure makes it difficult to make a major buy decision. Hopefully we see the 10Q soon.
What cracks me up about these penny stocks is there is no regulation. I guess I was raised to be honest. If I was raised differently I would have jumped on board the money train and started my own penny stock company 25 years ago. Then I would just sell shares to keep the company going so to speak.
I have seen people get screwed so many times it is sad. I play penny stocks with this in mind, they are all scams. I chart trade them and try to find some revenue. But I have seen penny stocks go up hundreds of percent with absolutely no revenue.
If I stick with my rules I do ok but my problem is I break them time to time.
1. The chart has to indicate a buy.
2. Sell the position when the chart reverses.
3. Never average into a position. That applies to both up and down.
4. Don't fall in love with a penny stock or get sucked into the hype. This is when you really get burned.
5. Don't trade thinly traded penny stocks.
I screwed up on ENCC. I rode ENCC down and even averaged in here and there but finally came to my senses and sold. If I didn't average down my loss would have been a lot less.
So I broke rule 2, 3, 4. It is my own fault and I should know better by now since I have been trading a long time. But I do have my moments of weakness.
Yep looks like shares coming out of thin air. Based on the volume, float and price action over the past week I guess I'm also having a hard time believing there are only 27 million shares out there. As you were saying the numbers don't add up and looks like new shares being dumped.
Yep I see the 50MA and 200MA crossover. RSI(14) is at 50.64 and still in a downtrend. Full stochastics are at 33.63 and 41.42 and down trending. William %R is at -75.89.
RSI 50.64 and down trending. 30 would be considered oversold. So in regards to RSI no big green light flashing to say buy at this point.
Full stochastics 33.63 and 41.42. When 33.63 turns into 20 then considered oversold.
Charts are sort of like magic. You can kind of hedge a bit and find the indicator that will make you a little happier. So here are a couple of indicators that take us closer to oversold.
William %R -75.89. -80 here is oversold.
Fast stochastics 24.11 and 33.63. When 24.11 turns into 20 considered oversold.
Even though I own this stock I won't buy any more shares until we have a clear reversal to the upside. We aren't there yet.
The CEO promoted his stock to get visibility. I can only guess on the reasons. I can spin this two ways. One is ENCC is low volume and off the radar. He is trying to get more visibility. The problem with the promos is it attracts day traders. If you got in on day one and sold on day two you made a profit. The other view is maybe he sold into the buying. That is possible. But with that said today someone posted the CEOs response to a question about the float and he stated what is indicated in otcmarkets.com is the current float.
In the penny stock world 27 million shares is nothing. If the stated revenues are truly increasing and there are really only 27 million shares in the float then this would be a tiger by the tail.
So the day traders have come and gone. Only people left here are the bagholders as they say me being one of them. Maybe down the road we will realized we all got snookered after all. But as painful as this week has been for some people maybe we are just early.
Bottom line ENCC is still in a downtrend and need to wait for the buy signal before I add more shares. And please note this isn't buy or sell advice for anyone else just my interpretation of the chart. Reading charts isn't an exact science but sort of like a general guide. If charting was an exact science I would be on my yacht in the Bahamas.
Yep I agree could go below .02 since these seem to overshoot on the way down. I do have a position now that is getting ground down but won't add anymore until .02 and .015. And no guarantee I will make money down the road but I like low float and doesn't hurt to have some revenue. And if it wasn't for the low float and revenue I would have bailed out of ENCC earlier in the week. The ENCC chart is a train wreck.
My guidelines for penny stocks are:
1. Never average down.
2. Sell when the chart reverses.
3. Company has to have a recent 10Q.
4. Company has to show some revenue.
5. Company has to have a low float. 300 million or less.
Well I'm currently breaking guideline 1 and 2 which isn't a good idea based on my trading experience. If this doesn't work out I will print the ENCC chart and hang it on the wall near my computer as a reminder that I was being stupid again.
I'm sitting on the bid at .02 with a pretty big order. Not sure we will get there today or not. If not then there is always next week.
It is the wild wild west with no regulation enforcement. It is pretty much gambling. I have seen penny stocks go up where there isn't any 10Q and no news. It makes no sense why a stock would go up but people buy them anyway. I'm a chart trader and the ENCC chart is ugly. Need to wait to see where the bottom ends up. Waiting to see if it finds support around 2 cents.
Thanks for the update. So that means the float is 27,765,714. Low float plus revenue increasing year over year. So I will hang to see what happens. Waiting to see where this downtrend stops before adding more. Normally I would just bail and move on to the next trade but will see what happens here over the next month.
I called the transfer agent and they are gagged. Have to call Richard Sharp to get the current outstanding shares.
Was hoping this was legit and looks good on paper but you never know.
For the Year Ending for the Year Ending
Dec 31, 2015
Revenue 113,640.95
For the Year Ending for the Year Ending
Dec 31, 2016
Revenue 407,174.06
Yeah I think the person trying to scalp the 250000 shares may have got stuck. If that was them sitting at .031 they are patient and didn't bail end of day. Will know tomorrow if 200000 shares are parked on the ask again where ever the ask may be.
One positive is ENCC has a low float. 67,425,560 as of: Dec 31, 2016. I need to go through the messages here to see if anyone has called the transfer agent to see what the current shares are. If not I will give the transfer agent a call myself. Still at 67,425,560 would be good news.
Transfer Agent
Securities Transfer Corporation
2591 Dallas Parkway, Suite 102
Frisco, TX 75034
Phone: (469) 633-0101
Interesting day. Was hoping the guy on the ask for around 200000 shares at .031 would bail and slap the bids hard before the close to get out but didn't. I nibbled on some for .031 today but not ready to go all the way in yet. We all know when trading these penny stocks no telling which way they will go. Will need to see where ENCC finds support and then I will jump in with both feet to see how this plays out.
I actually think this guy may be stuck with the 250000 shares he was trying to scalp. 346000 on the ask at .031.
Level II. Someone dumped 280000 shares at .0331 and then the 280000 shares immediately show up on the ask at .039. Also as other people are saying here seems to be endless shares for sale. I'm holding a position but will wait to add at the 50 day MA.
Thanks for the info. I was lead to believe that Trump would let the states decide but obviously that is changing now.
I just saw this today and got out of my MJ stocks. Can't predict where the MJ stocks are going to end up with the Fed stepping in. I expect a battle from the states since they will lose a lot of tax revenue. Jeff Sessions (Attorney General) has made it clear in the past he would stop recreational marijuana. I took my eye off the ball and it cost me a chunk of money, stupid me. This sucks since the MJ stocks have been a cash cow. No idea where the MJ stocks will catch a bid if Sessions is looking to stop recreational use.
Wow wish I saw this news yesterday. Would have saved me a lot of money. I'm out of GBLX now until this is resolved. Jeff Sessions has made it clear as to what he thinks about recreational marijuana and now he is the Attorney General. The states aren't going to be happy if the Feds crack down on recreational marijuana. That will take away a lot of tax income.
So let me get this straight. Your stating American Bulls is a pump and dump site for penny stocks that need to dump more shares onto unsuspecting investors?