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I parked some money here when it was about $400 a share, now I’m ready to buy the car that this money was for, but I find myself not being able to sell now the way this is going! I am just going to have to drive my old pick up truck just a little while longer, LOL. Good luck to everybody here, I think this has been very lucky “ parking spot”!!
It must’ve been the highrollers pulling their money out of Coinbase to avoid taxes! Now they got to put the money back into bitcoin let it go up under cover!!
I am just not used to seeing zero trades so long after open. Usually there is some activity. I am out of this right now, but my finger is on the trigger. Moved to crypto for a while, waiting for some new and real ‘news’ here.
Zero volume this morning? Something coming??
I agree with Terured. This flew off too high, and it is roughly around where it should be. You would expect to have a premium in anticipation, and the herd just blindly drove it up. People will be more cautious, I hope. Sure I want it to be a ten bagger! But I did not buy in here for that. Good luck to all, I think this will be just fine.
Andrew Left makes an absolute killing shorting stocks, then putting out the word they they are overvalued. Read the article/interview with him in "American Consequences". Any time he starts the ball rolling, he sits back and rakes it in. This will recover, but the damage is done for today.
americanconsequences.com/the-bounty-hunter-of-wall-street/
FINNALLY, broke thru! Lets go, come to papa, Daddy needs new shoes!! Ok, I will calm down now! Early retirement for me!
Huge resistance to get above .299
If that breaks, hopefully who ever is holding it there, lets it run!
Good points.
I was just trying to explain where the money goes if it drops (or any stock) 90%. I appreciate your insight on this, we learn something everyday!
Whomever you bought the stock from made the money. This value is only what people pay. The company took there money a while ago (for the most part). This is the danger of the penny stock (or any stock really). The run up in price is really imaginary, not based on the actual value of the company. A company is only worth what is assets and some potential for business based on a reasonable multiple are. So when this SEC suspension happens, everyone discovers it was only monopoly money. There are no assets to back up the price of the stock if everything was sold off.
I hope you did not lose too much.
My only downside here, is that it is hard to buy shares with 'loose change'. Each share is serious money, I hope they split so I can keep buying in smaller increments!!
I am in the same boat. I don't have any problem with SING, in fact I like this company a lot. But the relationship with BITCF has me nervous. The SEC can be so unpredictable, and they have BC in its sights right now. I am glad this is sitting tight, I want to get back in, but I need a couple of weeks of cooling before I dip back in. Right now there is plenty of action with some of the other plays. If this is not shut down in the coming days, I expect it to shoot up like the others.
Caution is the play here for now, good luck to all, I think this one has a lot of upside yet.
These are real small sells. Almost all less than $1000 (some $250), designed to knock out stop losses. This should come roaring back when they are ready to shake out the weak, and make a killing. IMO
It never existed. A stock is only worth, what the market is willing to pay. As the price goes up, no one is really printing money. It is the value based on what the company is worth. When this goes into huge multiples, it really can be just a ponzi scheme. When it drops to reality, it only goes down to the value of the company that stands behind it. If the company is small, or a shell. Then, poof, gone. The only money made is the shares sold on the way up, extracting from those who either 'invested' or those who totally gambled. This is why on any stocks, people are truly gambling for some potential future worth of a company. The scams come about because some people take it vantage of this, they pump up the company make it look fantastic, but there's really nothing behind. Maybe once in a while one of them actually does business and make money, but most of them are designed to extract us from our money
My worry about SING for now is, they did DD on BITCF before getting into bed with them. Clearly they must have seen something that should have made them concerned, OR they were conned like the rest of us. Could they be conned by some of these other 'partners'? I got out at .8, it slammed down there before I could pull the trigger. I'll be back in, but not for a week or two. Let the fire die down
If your quick, there will most likely be a dead cat bounce shortly after the carnage when it reopens. I learned that the hard way. Sorry for folks who lost a bundle here, been there, you go from thinking rich, to losing and it hurts bad.
The whole basis of the MJ plays right now is the uncertainty of the legal status, and the work-arounds that innovative companies/people are developing. Folks will always find a way to make things work, no matter what the rules are. Who knows what will happen if the feds ever take away the shackles, and let legitimate companies in (Banks, Big tobacco etc).
One thing to consider is, the culture that is developing by being quasi-legal will influence the future. Even when the big boys jump in. Kind of reminds me of the current craft beer phenomenon, eventually the big breweries will slowly but surely buy their way in, will that be the route that the big tobacco etc. will take when this becomes federally legal?
Excellent point. For now, Sessions does not look like letting MJ off the hook so we have time. But I agree. On the bright side, SING is diversifying, so I would have to think that they are taking that potential into account, and are working toward being a big player aside from the cryptos.
There could be a huge opportunity here, but waiting to see if this falling knife stops.
In the next week or so, I will drive around Grandville to see where the 3500 ft facility is, where they are mining. I don't have an address, but I will try to see what I can find. If anyone here has that info, I would appreciate it. I am a trader, but if I am going to let some money ride on this, I need to see the bricks and mortar. The K'zoo office is a mail-drop, which is not a bad thing in itself. But an actual building with oversized transformers on a pole may give me a small bit more confidence.
The problem here is, someone is making massive dumps. IHub has nothing to do with this movement. I just wish they would ease off and let this float back up. Someone is either desperate for cash, or they decided to pull the plug and cash out. It is killing the action here, these low prices are not opportunities, they are lead in this balloon. I am about to sell out too, here are too many fools here, and I don't want to be one any longer! I'm up now, but capital preservation is needed here. Good luck all, I hope you all become millionaires.
The big 'tell' here today will be if it can get well above .07, and stay above. If it stays in a range as it has for the past few trading days, then the opportunities for trading the swings will be next to zero. But if the selling into the strength stops, then bam, money time. I hope they let it run, I am here to make money like everyone else.
I am glad we are having a cool discussion, I was worried we were going to go ballistic! I live in Kalamazoo, so it was why I got involved. I play these penny stocks like I play the ponies. A flutter here, a flitter there. It is fun to watch the tickers, and sometimes you real lucky big time! I am in a pharma stock that has potential, but one guy on there says he mortgaged his house to buy! The dude has a family, and maybe he will hit it big, but such a risk on your family? So I got that sense here with a couple of posters.
Please let us know if they respond, like I said, if I am wrong I will admit it. Green and profitable trades to all!
Actually some people do care when they see a company that has absolutely no business other than selling shares, selling to starry eyed 'investors' trying to get rich. Some here made an absolute killing on this, but the reaction the last few days, especially today means the jig is up. The low ball buyers are feeding in, every time this goes up a couple of clicks, bam another big sale. Bitcoin had a huge move, and we are behind where we were a couple of weeks ago! Clearly this is being dumped, and smart people are grabbing there dough and getting out. It really does bother me to think people will lose, especially people who cant afford it. I am not trying to drive down the price to but more, why? The cryptocurrencies are flying all by themselves. If you look at this companies financials, there is nothing there! And a dubious history to boot. Hooray if you made money selling, it's the poor bastards that are buying your shares now will be left holding the bag. I will come back in a few weeks, and if I am wrong then I will stand corrected. There are way better real plays out there, I learned the hard way. So good luck to all, I hope you get filthy rich here, just do some homework and truly know what you own. IMO GLTA
Someone is dumping into the highs. Watch out for this head fake. If I owned millions of shares on this junk, I would be flogging it too. I am not usually a basher, but it is so obvious what is happening here. I have taken almost all out and moved to the 'mutual fund'. Good luck to you all here, I cant watch anymore. Mods, please remove my sticky, if people buy in here, its there own darned fault.
Cool, sorry if I came across harsh!
If you are up that much right now, and you don't sell, then you are insane! Nobody ever lost money by taking a profit
Someone has obviously been feeding in shares for sale for several days now. I wish they would hold back for a couple of days and let it go up.
Based on being burned a couple of times before, this has all the hallmarks of a pump and dump. The companies finances are a pittance, and they are diluting heavily. Notice how the stock has not been able to climb much higher then .07 with minor exceptions the past few days. Clearly someone is feeding in shares and this is sucking money from naive people. I live in Kalamazoo, and the address here is nothing more than a mail drop in a neighborhood. I am trading this a little, but I know that if I don't double my money, i will be a bag-holder. The boards are full of these scams, please please please don't get screwed like I did with similar junk. Penny stocks are only for fun trading, not long term holding. Especially in an "industry" like this at this stage.
Not stocks, but it could be done. I meant buying bitcoin thu AMEX MasterCard or Visa. If you have a 12% annual rate like I do, and you have some confidence the 'coin' are going up, it is an option. Not necessarily a smart one I agree. But not unlike buying on margin, without the margin calls.
The closest thing to buying bitcoin on margin, is to buy with a credit card. It's a backdoor way to buy.
Thanks ee, interesting action.
This is interesting. A ceiling of .069 that is acting like a block. And lower than usual volume. Is it being held down? I done have access to L2 to see whats up.
That was mine, 4999 sell of a 20000 order. Stuck in limbo waiting for it to complete! I am also wondering, has it been halted??
I hope this pattern never changes! ELTP=ATM! My buy and hold portion is stale, but trading this puppy in my IRA has been really good. Glta
Wow, nice insider flip. Watch for the falling knives!!
Crytos are way up today, why is this dropping?
Thats what 3X ETF's are for. Way too complicated to get into here, but read up on Investapedia or elsewhere they will give you a very good explanation of the decay that occurs for long-term investors in 3X ETFs. But still not a bad choice for a smaller AIM position. I play The gold ETFs, DUST, and NUGT and JNUG for some action to keep me from getting bored!
I drove by last night, it is just an small single story office building in a residential neighborhood. Too late to talk to anyone, it was a cannabis clinic that sold to a tax office. So, the address is nothing more than a mail drop from what I can see. No special electrical wiring or anything that would indicate that they are mining there. I could be wrong, but this does not look to be an active site for their operations. IMO. They must have a building elsewhere that can house their servers etc. so this DD means nothing, but is making me wary.
By coincidence, I live near Kalamazoo. I was surprised when I started researching them. I have not bought yet, because I am suspicious too. If I get a chance, i will swing by the address and take a pic or two if it looks legit. I might need advice on how to post a pic here!