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"Is-that-a GUN in-your-pocket, or-are-you-just glad to see me?"
Mae West to WC Fields
Yesterday's consternation, notwithstanding, we-are-still better-off than we-were five-days-ago!
Your post is-a-perfect illustration of my argument against-applying-TECH
...to the OTC (especially in the Sub-Penny arena)
There is a well-worn axiom, among tech devotees, that if you ever HOPE that a-stock-that-you-hold's PPS drops, it should be the last stock you ever buy!
Although-I-didn't PLAN-it-that-way, that seems to be my trading-strategy! LOL
Yesterday was a lesson in-trading on the OTC
EXAMPLE: In my own case, I too would have SOLD "some" of my shares into the obvious retrace, buying them back, at a lower pps, when it dropped.
This only works, however, when the pps is above my entry point. e.g. My average is 0031. I could have sold "some" but only after it hit (say) 0036, which would have given me a five-tick-profit on those shares.
I would, then, have waited for it to retrace and bought-back-in, either pocketing the difference or using my gains to buy MORE shares!
THAT is what The Whales did, yesterday and amassed millions of dollars!
THEY drove the pps UP, and then THEY drove it back-down again.
Conventional-trading-wisdom and tech dictates we SELL into Earnings!
I agree with you, however, it's just that certain "experts" on this thread try to apply "tech" to Sub-Penny stocks.
Tech only works when most of the traders adhere to conventional trading wisdom. (as with Small Caps, etc.)
Most of the traders on this thread think "Fibonacci" was a character on The Sopranos!
Look-at the chart. This-is-what-you-might-call, "playing above the rim!"
"A HIGH TIDE LIFTS ALL BOATS." JFK... that-means...
...the flippers, in at a lower avg, take profit and sell their shares to a flipper who now has a higher avg, and the PPS finds a new Support.
It's like climbing up a ladder!
Me either Jer! I said-that from the beginning...
...in all my years I had never seen volume and interest in a stock as I had in HCMC.
Now I'm getting ready for a RUN the-likes-of-which I've never seen!
This muffiger's ROARIN'!!!
They better-stack-some 0028s or we goin' to 0029!!!
Notice the stacking-of-the-ASK @27. That's not LONGS deciding-to-sell!
Not with a pre-market gap-up of 4 or 5!
Every time the MMs stack the ASK, it gets gobbled-up!
In PRE-MARKET? This is A RUN! 0027s almost-gone!
I only hafta git to 0031 and I'm GOLD!
0027s ready to GO!
Pre-market BUYS @ .0026
Cinco de TRIO!!! LOL
I-got-two CEs. But I'm still reminiscent of-the-day. though,
that POTN went to 98 cents!!!
And now it's Caveat Emptor. I just sold it @ .012
I also own a million AEGYs that I bought as a "lotto."
Nobody WANTS 'em!
I also sold one of my STOP SIGN positions: MSPC
I'm still DOWN about $25k
I sold on Jim Cramer's advice and missed-out-on
the play of a lifetime!
It was Spring 2014 and my 100 shares of AMZN had cost me a mere $25,000. Someone called-in and asked for his opinion of Amazon. He hit the AH-OOGA horn and said SELL-SELL-SELL! Next morning I looked and AMZN had closed @ $375, so I sold.
And the rest is HISTORY!
...and Cramer's pedigree is far better than anyone on here!
You-need to-get a-better-understanding of the percentages you're quoting.
Kimberly-Clark: "Drop in toilet-paper demand, worst in-a decade"
I knew it...I knew it! You are all FULL-OF-SHIT!
They were! And with a two-tick spread!
Oh, so-I-guess your Bullshit Detector sounded, did it?
Based upon WHAT?
We-do have-a-lot in-common, Jer. I'm 76, from Philly.
If you're enamored with owners betting their fortunes
check-out ALRT. The CEO and his wife own about 75% of the company!
It is a good benchmark, though. Take Ford Motor Company. It's public, yet it ain't. The Ford Family controls the shares. Remember the auto makers' bailout? Ford said..."No thanx!"
I agree> I see flippers do it all-the-time
but I can't bring myself to do it, i.e. pay a lot more for a share when I used-to own them at much less.
It's a fault, with me, because that is exactly the correct way to play these subbies but I just can't bring myself to do it! LOL
I also don't go haywire with amassing millions. I did that once, with REDG, and I still own 30 million (that cost me $16k)
I bought my first shares @ .015 while I was trading with Jason Bond Picks. My only hope now is that it gets bought, as a shell, like GTLL did.
I got "the Penny Stock Fever" when one of the Mods at JBP alerted CRMB. Crumb Bake Shops, a "Mom-and-Pop" Manhattan bakery that opened in 2003, signed a partnership deal with Starbucks, went public and got listed on the NASDAQ. They blossomed to a chain of 79 stores in eight states before going bankrupt on July 8, 2014 and announcing they were closing all their stores. The share price, obviously, plummeted.
The next day, Marcus Lemonis (of the CNBC reality show "The Profit") announced he was buying all of the stores. This Moderator “scaled-in” for a total bet of $5000 after the opening bell. The stock skyrocketed on the "Lemonis" news and by 3pm his $5000 was worth $100,000! (and I've been chasing that "White Whale" ever since)
OBTW: one of the Mods at that time is a Mod on this very board.
O'm still here. AVG was .0018 averaged-down-now-to .0017
I was fairly calm bc my buy-in-point was so low. I do have to admit, though, I considered .0077 Support, at one point. Never thought it would retrace this far!
It's the opposite, though, over at HCMC. Most longs AVG a lot lower than my buy-in @ .0050. I have averaged-down to .0031 but that's still too high.
WE SHALL SEE!
I'm a "bottom-feeder" now, so-Schwab would-have-saved-me a-lot of-money
...had they adopted that rule several years ago.
There's only ONE that profited me...GTLL, one of my 1M share "lottos" I made 300X my investment.
I've used most of the brokerages, over the years, and my fav was IB but Schwab's StreetSmartEdge is the best (next to IB) for ease of trading. IMHO
Also, I am still getting used-to being able to jump in-and-out for FREE! I've paid a LOT in trade fees over the years.
Schwab also bought Options Express and moved my OPTIONS membership over to Schwab (not that I trade Options anymore) I went broke in 2008, with Options, and I still suffer from PTSD!
I also learned to worry about brokerage houses going belly-up, in the event of a crash, and me not being able to get paid. 2008 taught me a lot!
I used-to trade Small Caps and I was a devotee of Jim Cramer till his wrong advice about AMZN, in 2014, cost me about a quarter-million!
I've been F-ed so many different ways I feel like Stormy Daniels!
Some L2s show only Best-BID-and-ASK for "subbies"
Don't know cars anymore but when I see
a new car with great lines, I look to see what-make it is, and those KIAs (Korean, I understand( are some of the nicest looking vehicles being made today. Hyundai too.
That wall @ 0019 was-just-too-much but-my-point is still-valid
Have no fear, the "cheese" is here!
That wall @ 0019 is traders lamenting their decision not to sell @ 0020 early this morning.
If-this-hits 0020 again, after-failing to retrace-to Friday's-close (0016)
it says more about those-trading-the-stock than it says about the stock!
The lawsuit is a gamble, but the action around this ticker says that, come-what-may, before the lawsuit is decided, this PPS will return to 0050 or-so.
HCMC and GTEH (my two big-plays) are-neck-n-neck 0017-0018
Schwab showing 7,623,...,... @ 12:39
Don't feel too-bad. I bought first at 0050!
I managed to lower my AVG to .0031, but I'm still underwater.
I'm am very encouraged by the L2 movement since 3:10 Friday.
The fact that it hasn't returned to at-or-below Friday's close is a very good sign (if I'm any judge)
I-love-all-the-experts! Would ya buy some-0011s if you could?
That-they've not-been-able-to make-it-retrace to Friday's close, is a-good-sign!
Here's-the-test, IMHO, if-this-goes-back-to 0020, we're on our way!
Dude, anyone with-any-experience knew-it at close of Friday.
My Schwab L2 is following it, Jerry.