Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
How did your RAYS investment go? You are turning out to be quite the contrarian indicator, are you bullish on BVSN right now? If so I feel much more confident in my short.
Time to buy more BVSN, this is going to the moon. Did you know Facebook has an IPO in May and BVSN sells Clearvale? Even at a conservative market cap of $1B this is worth north of $200 per share? Pick up your cheap shares now don't miss the train to the moon no more stops ahead!
Am I doing it right?
I love the dreamers on the yahoo boards saying it will bounce back to the 30's after earnings release. As if BVSN being blasted on CNBC in the middle of the day Tuesday was a positive thing for the stock.
This board is not supposed to be 'in favor' of Broadvision. This board is to discuss Broadvision. Discussions are two sided, I'm sorry it took you this long in life to realize that.
No don't worry, this is going to $100, they're a solid company with sound fundamentals. Not just a low float trading tool being pumped by a convicted SEC criminal. Really, go long and sleep soundly right?
I think you're both wrong, it's going to spike to new highs and close at $46.52 then gap up in the morning to $60.20 at the opening and squeeze to $75. Then earnings are going to be the positive $1 income per share and it will go to the moon.
You stated you can only go long though right? And is it margin or cash? I personally lean more towards bearish and shorting rather than playing things long, but hey that's me.
You need $10k to open the account yes. You can slip below it, just need $10k to open account (also requires a trading experience and certain net worth I think like $25k net worth minimum).
Yea it goes by flat rate on shares not flat rate on trades. Brokerages like E*TRADE and the ones that charge like 7-10 per trade are awful. Now if I was shorting 10's of thousands of shares I'd of had steeper commissions.
I'm at Interactive Brokers its a flat rate per share, not by trade so commissions on this play weren't bad since I didn't go nuts I only played around 3000 shares. Maybe like $20 overall and I think I had like 8-10 trades were I built up position 500 shares or so at a time and then covered it split with 1000 cover then 2000 cover.
I covered at 1.31, I enjoy taking profits not watching them disappear. Likely this sinks lower and settles below a dollar, but chance it bounces a bit after a drop like that. I don't like to hang on for that type of uncertainty and I hate being a long term short. But if one wanted to be a long term short this will likely just fade into the abyss over the next few months.
Plus finding shares to short on this is a godawful pain so I'm not going to bother.
How is your tinfoil hat treating you?
Head and shoulders, a TA pattern that had been forming over the past few days, I was looking for a crack of the neckline at 1.45 with a downside target of 1.25 and look at how perfectly it played out.
I guess you could say this is a confirmed H&S, see if it breaks 1.30, either way I covered my short at 1.31, take profit and don't get greedy.
So you don't believe in trading an OTC by TA. Momo doesn't believe in trading an OTC by fundamentals. So you don't trade on TA, or Fundamentals. What do you people trade on? Hopes and dreams?
I disagree, I think there is a potential for a big drop down to 1.20's maybe lower short term. Look at the 5 day/10 min chart. Potential H&S formation along with textbook low volume on the right shoulder with 1.45 neckline. Should it be confirmed we're looking at a drop to support at 1.25 and if it cracks that support look out below.
Thought I'd mention the 17,367 share sell that just went through at 1.45. Bids being eaten.
I'm not sure with TD, I don't use that broker maybe someone else could elaborate. I know the largest challenge with these plays is that when they do crack finding the shares to short can be a challenge. It's why I started moving in short in the 1.30's so when this goes below $1 I won't have to worry about my short filling. They tend to drop fast as you saw today, and filling in that panic is difficult.
Need to have margin + everything to short. It's a 10k minimum though, so heads up. But they have the best availability of shares to short for these type of plays.
Interactive Brokers
Did you watch the Level 2 at all? There was a 30k sell at 1.50 and a 30k sell at 1.48 along the way. Bids were getting eaten.
So, intraday 20 minute move for 0.18 drop (~11%) on 500k shares traded cracking multi day support. What does your TA tell you on that? (I'll give you a hint, it's not bullish)
Exactly, so based on the TA alone this is in a medium term downtrend and will likely correct below $1.
The PPS made a high on 11/02 of $2.51, made a low on 11/08 at $1.02.
The PPS then made a 2nd (lower) high on 11/30 at $2.11, then made a 2nd (lower) low on 12/12 of $0.90.
The most tried and true TA is that when a PPS is making lower highs, and lower lows it is in a downtrend. Based on the fact that the current PPS is making lower highs and lower lows in the medium term over the past two months, it is likely to continue this downtrend.
I'm here, initial short position at 1.36, waiting to see how it tests 1.60 before I add onto my position.
The company has 50M O/S, 0 revenue (not 0 profit, 0 revenue they didn't take in a single dime), $8M listed as 'Goodwill', $550k in expenses and only $1.2M in cash. Having a market cap of $75M in its current state, or even $50M when it drops to $1.00 is still overvalued when the only 'contracts' are a free trial. I don't even care what they're product is or if its a copy of a free program, those financials are not good. God forbid they follow through with this gem from the 10Q:
"Although the Company obtained debt financing in July (See Note 5), the ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain additional financing to meet its obligations and repay its liabilities arising from normal business operations when those come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and additional funds from operations, and either equity sales or debt proceeds."
AKA, going forward odds are they'll need to obtain more financing, actually generate revenue (which they have not yet done) or use cash on hand, or more equity sales (share dilution).
And if you want to just completely ignore fundamentals and focus on the TA, the PPS has had TWO 50% drops over the past two months, Average Daily Share volume over the last 9 day period when a breakdown took the PPS from 2.04 - under a $1 was THREE times the Average Daily Share volume over the most recent 9 day period that has been melting the PPS up. Real moves require volume, absence of volume is a fakeout. Odds are high this will correct down to a more reasonable level under $1, not sustain a market cap over $50M.
So you're choosing the conspiracy theory defense? To explain why the sustained AVERAGE DAILY volume over a 9 day period was 3 times greater than the sustained AVERAGE DAILY volume of another period?
Just curious, if you follow TA then you must know Rule #1 is that every real move must be accompanied by volume. Can you explain your confidence based on the fact that :
The breakdown period from Nov 30th - Dec 12th - Average Daily Share Volume was 2.83M
This current meltup/breakout period from Dec 13th - Today - Average Daily Share Volume is at 925k
The breakdown contained ~3X Volume compared to this (fake?)breakout, can you explain that, or do you not believe that volume is necessary for sustained moves?
Why do they have to cover by tomorrow or the holiday? I'm not aware of any rules for when shorts have to cover beyond buyins by their brokers.
What part of a breakout today with barely 1.25M shares traded when the breakdown that occured a couple weeks ago had nearly 7M shares traded in a single day would appear strong to you? From every book I've read about TA, a breakout without volume is extremely unlikely to hold. Does a stock that has two 50% drops in two months look like it has strong technicals behind it? The 10Q was terrible, no revenue and tons of new expenses in the past 3 Months, I can't imagine you thought that was strong? What specifically appeared strong to you?
My position - Short at 1.36 today looking to add more if this approaches the 50% retrace of the Move from 2.04-0.90 in the 1.50's.
How would you explain the two 50% drops in value that occured twice over the past two months as well as the heightened volume to the downside compared with anemic volume on up days?
I doubt it will take off. That 10Q was pretty bad, no revenue, no R&D spending and that much "Goodwill" listed as an asset is pretty frightening. I'd like to see a short squeeze and go short myself into any spike next week.
The fact that RAYS was trading at all pre-market, and to the downside would frighten me as a long. Somebody wanted to get out and didn't even want to wait for market open.
Yesterday's bounce from 1.1 - 1.19 at 15:15 was ~100k volume
This morning's panic from 1.13 to 1.05 on market open was ~300k volume
Don't forget that Dec 9th (the ~30% drop) was on nearly 7M volume, while the past two days "bounce" have both been under 1M traded each day and declining on volume.
It doesn't take a genius at TA to see volume spikes are higher to the downside, and any "breakout" above the 1.25 resistance is going to require volume which just isn't there on the buy side; both bearish signs. I sold yesterday at 1.17 on the end of day spike, covered this morning at 1.11. I should've waited about 10-15min longer and could've made a couple hundred more. Oh well, being on the RAYS sell side has been nice to me past week and half. If it bounces again to 1.25 I'll probably go short again, but that's a big if.
Was that the first Streetsweeper article you've ever read? The company nearly always has a position on the stock articles are written about. The authors of the article never have a stake though. And if Raystream was a real company there would be way more official refutation. Just look at how MILL reacted to the SS article written about them.
And a sidenote to people saying "oh shorts are gonna burn now" on a ride up to $2, I covered my short Mon morning during the panic selling and most people I know short did too. Yea, shorts are sure in pain after riding this down from $2.04 or $1.70 if you got in late, to $0.90....
Heh, I think you need to reread my reply. I fully understand he is talking out of his behind. If the float is 25M it is impossible for there to be 35M short interest. The total short interest is probably ~600k now. And for the record I was short at 2.03, then covered at 1.88. Then short at 1.87 covered at 1.78. Then short at 1.83 covered at 1.79. And now short again at 1.70 overnight. Too jumpy to hold for too long, but if it continues the downtrend we could see a deeper crack into the 1.40's/1.50's. Especially considering the big ask earlier today and the norm being a small bid. At one point there was only 8k shares between 1.69 and 1.59 on the bid and 60k on the ask. Pretty nice.
If the float is 25M how are there ~50% more shares than the entire float held short as of now? And if that is true, it would mean one of two things: there are no longs, only shorts OR there has been a ton of dilution.
Total shares shorted =/ total short interest.
When does everyone think the dump will begin? I'm in at .38 just trying to set up a gameplan for my exit. I was going to get out at 0.70 but contemplating staying a bit longer depending on if there is a chance it breaks 1.