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TRRE is showing signs of loading before a promo. Crazy volume today. currently under a penny, looks headed to at least a nickel
Volume looking good. This seems to double every couple of weeks. Ride the waves!
In with weekly 177.50 puts at 2.50 for a short term scalp on potential retrace to 177.50 today. Near term I think this tests 185 before the consolidation everyone seems to be waiting for.
Volume preceeds price. Here we go. Looking good for a move up.
you guys are cracking me up!
Looks to be retracing appropriately. IMO a good entry point is 9.05 to 9.15, great entry point would be after a potential retest of the 8.50 region.
News out- Co and Aastra Technologies announced that, in accordance with the Investment Canada Act, the Minister of Industry has approved the proposed merger of the companies which was announced on November 11, 2013. The Minister's approval is a key requirement for the transaction and represents a significant milestone toward finalizing the merger. The transaction is anticipated to close in the first quarter of 2014 subject to the approval of Aastra shareholders at the Aastra shareholder meeting scheduled for January 9, 2014 and other regulatory approvals and conditions specified in the Arrangement Agreement between Aastra and Mitel dated November 10, 2013.
Link to Investor Relations web page
http://investor.mitel.com/
If 9.75 holds tomorrow, look for this to blow past ten in the next few trading days.
It may bounce to .03 or .045. I think it is worth picking up shares below .012 and letting them ride for a bit.
Resistance at 9.75 is strong, but that will make for great support once it is breached.
If this breaks 9.75 this morning, I think we see 10.00 by EOD.
Looks like this is going to move.
Starting to get some volume. It will be interesting to see if this can get some gains and hold them
I'm thinking about getting in here. I think this could have the potential to move in the right direction
I'm in. Agree that volume preceeds price. If this keeps trading over a million shares per day we should see north of .025 soon.
Today was a perfect technical trading day. Opened slighter higher than yesterday's close, retraced to the 50% Fib level for yesterday's gains, then closed up slightly from yesterday's close on decent volume. What's the problem here? This consolidated nicely without selling off and APS is still promoting it. I look for maybe a 5% increase on Monday, possibly closing in the low to mid 9s, then a big day Tuesday or Wednesday. Then a likely dump Thursday or Friday back to the 6s or 7s. Then, if APS is still pumping this, the real fun begins with a retest of the pre dump levels and then a breakout above. That is pretty much the way the majority of APS plays have gone the past few years. Not rocket science, just pop psychology at its best and most profitable.
Agree the knife is coming, but I think we see a test of .20 before the initial dump which historically would be end of next week. I think that is the best/safest time to buy in if you are going to hold a position longer than a day.
I did too..... Dumped them today for a loss. I am going to stay outta this until a clear direction shows up in the next couple weeks. We all know this "should" take a breather and consolidate down quite a bit, but I am not betting against it again any time soon.
Looks to me like we should be headed towards the 150s soon. May even test 159 tomorrow looking at the price action the past two days. Couldn't break 168 resistance yesterday or today. I think the 159 support level will be tested tomorrow. But who knows. These markets are crazy.
agreed. that gap is wayyyyy too big not to fill.
Well, THAT pretty much confirms the downtrend is still intact. I am looking for a retest of the 23.75 area tomorrow.
I am not convinced this is done with the downtrend yet. It tested and rejected the 20 SMA again today. This would need to close two candles above 24.20 before I would consider going long. I think this is still a put option play day to day until the reversal is confirmed.
You made the right choice. Never apologize, especially to yourself for taking profits. I am not convinced this has bottomed. Today's filling of the gap at 23.40 and test of the congestion level at 23.25 was pretty much telegraphed by yesterday's price action. Tomorrow is much more iffy as to how it will turn out. I bought weekly 24.00 put options today at .40 and sold at .60 when the gap filled. 50% is great any day. Yes I could have possibly made more as the premium price went as high as .72 but the price also could have turned against me just as quickly and my gains could have evaporated.
Tomorrow, the price will either test 23.91 or 23.25. There is no way to know which one though, so be glad you made $$ today and are on the sidelines when the day starts tomorrow.
Gap is filled, but don't hold your breath for a bounce just yet.
The gap is not quite filled yet. It needs to hit 23.42 to fill the gap. I think it will likely fill the gap and them some. I think this will at least test the 23.25 congestion level.
Sadly for longs, I don't think this is done going down yet. I will not take along position until this closes a second candle above the 20 SMA. I will however continue to day trade the ups and downs. Today's action made me 50% on my 24.00 weekly put option. (In at a premium of .40 and out at .60). I'm done for the day one this one.
It may gap up to 23.90, but then it is most likely to go back down to fill the gap at 23.40. Today's test of 23.73 all but telegraphed tomorrow's move.
Crystal ball says that FB opens around 23.91 tomorrow to retest that level from today, then heads down to close the gap around 23.40.
I'm not so sure. This looks like it is going to test the 23.50 congestion area, possibly as soon as today, but probably tomorrow. At that point it is only a dime lower to fill the gap.
The chart is perfectly set up for a visit to the low 23.70s for today at which point I will close out my put options for a 50% gain in about 4 hours. Gotta love FB!
It could go either way. FB is in a downtrend. Before taking a long position, the gap needs to fill and then the price needs to hold 23.00. If support at 23.00 fails, then it is look out below, possibly at low as the 21.20 congestion level.
One of the beauties of day or swing trading is that I don't care which direction this goes, as long as it goes somewhere. Once the downtrend is over though, I do think a long position stands to make substantial gains in the short term as I think this will bounce hard. I just don't think it is done with the downtrend just yet.
I think this tests 23.73 today, and probably will fill the gap at 23.40 by tomorrow. My put options hope I'm right :)
I will not go long until this bounces off the 23.40 gap.
We gotta fill that gap at 23.42. It was too much of a gap up yesterday. That will be filled. I hope it is sooner rather than later, because I would like to take a long position. But I won't do that until the gap fills.
If my crystal ball were perfect, I wouldn't be here on IHUB, I'd be retired.... :)
With the multiple test and rejection of the 24.35 level which was important yesterday, I think the next move is to test 24.00 and 23.75. I am looking for that move in about an hour.
This will need to pull back to fill the gap created this morning. If that fills tomorrow then I think that will be a good time to take a long position.
"When there's too many shareholders who cud be millionaires it rarely works out that way. "
You stated it much more succinctly than I did, but that is the whole point. With many people on this board holding as many shares as the CEO, I really have a hard time believing that a company is going to allow all of us retail investors to reap the same rewards as their executive board. Like you, I hope I am wrong, but I just can't see it turning out that way.
I have been here 2.5 years and been through the ups and downs and doldrums. I have had a bullish bias the entire time, yet objectively I have two major concerns going forward. First, the concept of cui bono (who benefits) and the fully diluted share structure and trying to get listed on the NASDAQ.
First, who benefits from the share price being under a dime? Like it or not folks, Epic benefits big time. They are the major shareholder and if they want to absorb Elite before the big bucks roll in, what better way to do it than to starve out the retail investor and buy Elite cheap. Also, like it or not, Jerry would stand to make big $$$ in a compensation package whereby Epic took Elite private. I can't help but wonder just a little bit when the likes of Ram Potti and Chris Dick move on.
Second, if Elite wants to get on the Nasdaq, they are going to have to do a reverse split. I know, I know, i have heard jerry say that they arent going to do that, but every CEO says that. Of course they would LIKE to get on the Nasdaq without doing that, but there is what you would like to do and what you have to do. Again, sorry for the dose of reality, but it is just simply going to have to happen to get the share price into dollar land. At first it would be painful for longs as nearly all reverse splits reduce market cap in the short term. However, if would be good longer term as new retail and institutional investors come to the table.
I have trimmed my position in half as my portfolio was over represented by ELTP, but I am still going to hold several 100k shares in hopes that the ART Products come to market under the current business structure of Elite.
I have followed these boards long enough to know that these subjects can be very polarizing. This company has a cult following like none other I have come across. It is almost as if Elite is a religion and you get ostracized if you don't follow the customs and doctrine to the letter. Or, you get persecuted by the non believers for your beliefs.
I am a trader so I rent stocks, not own them. ELTP is the only long term position I have ever had and I will continue to hold 400k shares until ART products come to market, the company gets bought out or some other structure changing event happens.
I hope all make money here as that is the whole point of investing.