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Haven't been trading SCRC lately, but as a message to the newcomers: there has been talk of a "China Deal" since I first learned of this stock and yet nothing tangible has been presented except for loads of convertible debt.
Is there enough bid whacking or what. 275 shares at .205... thats like $50.
There are several factors which makes this sector unique. While I cannot say where EDXC's product will be in the long run, here are a few points:
- Unlike most crops/agricultural products, marijuana varies greatly between strains and value is determined by such factors
- Established sales force companies are likely to shy away from this sector until greater legitimacy is established. Spending on development for marijuana tracking platforms may be viewed as too speculative for the big guys.
- Specialization is never a bad thing and EDXCs product could fill a niche that larger companies may neglect.
- It is unlikely that people/gov't will become so comfortable with marijuana in the next few years that the need for tracking diminishes.
- It is naive to believe that companies wont spend money to protect proprietary strains and keep their seeds out of others hands.
You're absolutely right. It looks strong, efforts to hold it can only go so far.
I'm liking the volume too.
I agree. I've been watching closely and I see that most of the blocks are getting bought through with relative ease. There are clearly many factors, but EDXC's propensity to react quickly to the upside makes me think that we will see a run.
A while back I bought at .2045 and it went over .23. I typically swing trade so this was perfect for me to take profits. I am surprised it hasn't launched yet because when this thing moves it moves.
Hey guys, I urge us to stay focused on EDXC. I've been trading around these ranges sporadically over the last two months, but I've established a long position as well. Any ideas why its getting held down?
Not even trying to be funny, the all-caps thing is quite difficult and unpleasant to read. Anyway, what track record is that? Again, not trying to be funny, I'm just gather as much tangible information as possible that may be pertinent to this company.
I was unaware of any plan being "bullet proof" in the world of penny stocks (or investing for that matter) except for promoters, who get shares for a whopping $0 and sell them. Any buying at this price is reckless as it will be cheaper in a few days.
No worries, typing these things up is confusing and I was wordy with my last post. There were two points I was trying to make:
- The A/D line is not a comprehensive indicator (not that I'm accusing anyone of saying that) so it should be viewed in conjunction with an oscillator.
- The fact that the A/D line is trending upwards and the SP is trending down indicates a reversal of the SP trend (i.e. it will increase) but as stated in point one, I would wait for an indication of reversal by the RSI or some other momentum oscillator as well.
Hope this clarifies, I do agree the accumulation is impressive and near singular for a stock like this.
Thanks! I wish I had a way to embed my chart from ScottradeElite (does anyone know how to do this?). I'm looking at a 14 day chart of SCRC along with volume, MA(10), MA(25), A/D, RSI(14), and I drew vertical lines at points where the MAs crossover. Typically these crossovers act as additional indication of reversals when the RSI is in the overbought (>70) and oversold (<30) ranges. The first thing I notice is that the RSI has been channeled between the 30 and 70 range but with a significant portion lying below the 50 (oversold). There is a strong correlation between the MAs and the RSI in this chart: when the MA(25)>MA(10) we have RSI<50 and MA(10)>MA(25) we have RSI>50. Therefore, a crossover of the MA(25) over the MA(10) would (at least to me) be a slight bullish indication as it seems to be correlated to oversold conditions. The opposite scenario would correlate to a bearish indication. This demonstrates that crossovers of the MAs may indicate trend reversals in the RSI and SP. Now, as I stated in my previous post, the A/D is best paired with a momentum oscillator of some type, in case the RSI. What I like about the current set up (and I've been outspoken the last few days about my opinion on SCRC as a true long term investment, which is entirely different in its analysis) is that the A/D is running opposite the SP which is an indication of a reversal. Moreover, due to the channeled nature of the RSI, a strong breakout of the RSI through the lower threshold (<30)- especially if it does so with force - would be a bullish indication. In other words, the SP is going down, the A/D is going up, and for a bullish indication we want the RSI to break through the 30 mark. If the MA(25) moves over the MA(10) as well, then the RSI move would have addition support. Now, this is all a mouth full and seemingly pointless unless we look at it in the context of SCRCs future. I feel that due to the dilution, we will see the RSI trend downward with more severity than in the previous weeks (an the SP will surely be down). I also feel that the quick drop in SP will cause the MA(10) to move below the MA(25) (known as a dead cross)- this will support the RSI move. To me, these conditions cause a void above the SP so to speak - the conditions that indicate a "bounce play". The question is then where is the floor? Sorry for the wordy post - hope it makes sense.
First off, the A/D line that was posted could be greatly misinterpreted. The A/D line is dependent on the close of a selected time period and is scaled according to the high-low price range of that period. Therefore, an A/D may be positive and increasing while the SP is decreasing as long as the close price is above the midpoint of the high-low range. This is easily demonstrated when calculating the multiplier which is used for the computation of the A/D line. Moreover, the A/D line is susceptible to divergence, both bullish and bearish, in which the price actually moves opposite of the A/D line; this is a red flag for a reversal. Therefore, the A/D line should be used in conjunction with other indicators such as OBV and momentum oscillators (which I find to be essential to the interpretation of the A/D line). My second point is that the success of SCRC is contingent upon closure of the China deal yet I have not heard anything beyond word of mouth and fluff PRs. Can anyone direct me towards legitimate sources reinforcing the claims made about the current state of the deal? Also, for anyone trading this stock, I believe SCRC will be an excellent swing trade around .03-.05. Hopefully it remains relatively liquid and we can enjoy the benefits of the much higher profit margins at those prices (on the order of 50-100% v.s. 20-30%).
Thank you. And to clarify why I am posting, its not to bad-mouth, undermine, or incite anyone on this board. It is absolutely none of my business how people wish to invest. However, it is always in everyone's best interest to thoroughly determine the value, risk, and expectations regarding an investment. If I could have it my way, we would all load up on shares and ride this thing to the moon. I'm just calling it as I see it and would hate to be the one buying shares at .10 when there is a good chance well see .05-.07 in the next few weeks. I've been trading for about 10 years and I just turned 21. It's an incredibly difficult skill to learn - I've been burned plenty of times and I feel its responsible to look at any investment from a level and honest perspective. This being said, I am not trying to target people who believe in SCRC, I just want to provide an alternative view on this stock so that anyone coming into this board can hear both sides and hopefully do some DD themselves. Have a great weekend!
What I see right now is a death spiral that looks like 99% of the penny stocks right before they hit the triple 0s. That being said, the need for real (I stress real) news is vital. No fluff PRs, so called "float lockdown", or ridiculous "team-this team-that" hype will save the debt bloated company. The news from China must happen soon and to be quite honest, I'm not sure that the SP will rocket from there. All that outstanding debt must be cleared up before significant improvements can be made. Also, do not neglect to recognize the number of people who are trading SCRC because of its incredibly predictable behaviour. Like most penny stocks, the money is not to be made on the long term behaviour but on a much smaller scale. SCRC is full of predictable plays and the volume is sufficient to actually trade it. I have found SCRC to be an excellent stock whether its going up or down due to this predictability.
After plenty of research I've concluded that this company is suitable for swing trading at best at this current time. That's been my strategy here for the last few months and I've been trying to decide whether to build on the portion of shares I've kept long. There's way too much dilution and I'm seeing what has happened to plenty of companies that are now in the triple 0s. I have no idea where this one is going - I'm just not comfortable being long on something that has so much toxic financing.
Yes, this is exactly what I expected.
How do we "know" there is material news coming when it seems that there is a perpetual setback in the launch of Rapimeds? Don't get me wrong, I would love for something tangible to come out and these very small companies interest me greatly (as I primarily deal with options) but I do not understand how you can say something meaningful about the time of the China news (if it ever happens).
The overall positive sentiment does seem to be trending higher; however, lack of significant news and plenty dilution in the coming weeks will drive down the SP. I've been following and trading SCRC for the last few months, although I am relatively quiet on this board. We should be honest with ourselves and realize that we need material news in order for any significant moves in share price to occur and for this stock to overcome the coming waves of dilution. Until I see something material I personally do not want to be long on this one. This is not an attack on the core shareholders as I doubt that anyone would invest so heavily in a company blindly and all the luck to them. As for me, I'm patiently waiting to get in after I see the proper indicators. As a side note, all this "team" stuff confuses me. I'm very young compared to many of you I'm sure (although I've been in the game for quite some time) and I've never heard of such a thing, we're traders/investors, not teenagers. It just seems ridiculous to me- but to each their own- and once again, nothing personal. Best of luck to everyone and have a wonderful, safe, and healthy holiday!
- Joe
Volume looks good today, quiet on the board though. Happy holidays!
I thought that the we'd see the price go to .08-.09 but after the support today I'd say that it might be worth loading up within the week. A big seller would certainly bring the price down but it seems that we hit more buy pressure today. Does anyone have any idea what to expect from shares being sold for tax purposes within the next week?
I agree, the last week of December is the best time to pick up lower priced shares. I don't see it falling below the lower teens, especially if the contract is signed in mid-Janauary.
No volume? Seems strange
If anything this is the time for investors to load up.
Any idea why its getting held down?