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Can't stress this enough. One needs to treat trading stocks like a business, not trip to the casino.
Learn to be happy with what you get, not unhappy with what you missed.
It's a complete mindset change.
Bit by bit stock trade gains, to reach planned overall goals, is just as satisfying as owning your own successful business.
Also remember 2% is 2%, no matter how or where you get it! Think 2% a week for 52 weeks gets you a 104% return on your cash each year.
Just took my 3rd step out of CLKA for 117% total. I usually step into OTC parabolic runs in 3 step and step out in 3. USUALLY
Starting to think RNVA is what I call a wonderment! LOL Might be holding that one for more then a month and a half like in the CLKA play.
The OTC is a completely different animal from the big boards, where TA & charting does work.
Sometimes, in some cases TA & charting works on the OTC. But most of the plays penny traders get into it doesn't. That's because the plays are parabolic and the runs come from nowhere and run to the moon. This price action is completely manipulation. And TA & Charting is useless there. But you can find a chart here and there, on the OTC, which does rise & retrace in a normal fashion. With those, TA & Charting will work on.
As for the get even plan presented; once you cash out some percentage and hold for a bottom bounce reversal. The rule of thumb I use for re-entry is 2 green days, then enter with 50% of the cash held. A third or fourth green day the other 50% is used.
You have to keep one thing in mind about all my advice is nothing is black & white. You need to continue to try variations until you find an approach that works best in your circumstances.
By this I mean, someone all in has different needs and objectives then someone playing with extra cash. The plan I linked is more for someone with on real need for the cash being tied up. NOTE the example was not a micro or mini zero stock. And IMO should not be used in a OTC parabolic run play unless you can wait for a possible long time to get even. If one has a short time need for cash, to supplement income for the family; that plan may not suit them. They may benefit from just taking cash back on any positive day. And learn from the error.
Not selling and getting stuck with cash you really can't afford to lose is really hard to deal with. That's why I preach always have a gain target and acceptable loss figure for EVERY play one enters. AND SELL AT THOSE PRICE POINTS
Rage 2-7
I can't respond to private messages. Bring questions to the board.
As for what's going on with RNVA only group of people knows. Company insiders & funders.
Yes it looks like the company has raised at least $3 mil cash. Since the type of funding does not reveal any numbers other then total cash out it's impossible to understand what's happening. But I did notice at 2:45/50 PM today 40 mil was sold @ .005, after a 10 day walk down to that area. It's possible the round figures may be the point of the manipulation down ends. And diluters start selling as price rises again.
To be completely honest this play is one which I have broken almost every rule in my trading book. I still hold shares and am a BAGHOLDER for the first time in maybe 10 years. LOL
So when it comes to RNVA I'd say, what ever I say is based on some crazy opinion rather then experienced knowledge.
I just feel the price gap down with the walkdown after, is NOT a function of the companies ability to succeed at their business plan. It's completely based on what shady deals management had to do to secure the cash funding they feel was needed.
So I've enacted my get ever business plan.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=106720994
welcome to the board ask questions.
I will be harping "plan the trade and trade the plan", along with stay off the OTC with funds which are NOT extra cash.
Money management is as important as any aspect of trading. One needs to divide their cash into investment, trade, and speculate.
Investment produces predictable yearly income. Dividends
Trading produces weekly/monthly income supplement. Small cap big boards
Speculation produces excitement and that house remodel. OTC
5/8/18 the company altered their public offering to 1.250 bil from 1 bil and price from .0008 to .0003.
The investors which purchased that offering, bought todays move to sell that investment.
The question is; how much was purchased and is about to be sold?
I've already sold into today and still hold a semi-large amount of free shares.
So far 140 mil traded today. With an investment of only $75k @ .0003 that's 250 mil held. I'd expect a great deal larger purchase of the offering took place.
Greed will be rampant, but personally plan on only a double max and out. While their pulling triples already. LOL
Do what the big guys do !
Experience has taught me. Any logic doesn't hit the mark with these mini & micro OTC parabolic runs. Whatever logic a good trader tries to apply, rarely works. Be it chart patterns, support/resistance, volume increase/decrease, ETC.
These moves are manipulated, thus logic or historical thinking fails to see what's next. Runs run when someone feeds them and dive when the feeder stops feeding them. As long as you see the ask stack growing, candles grow. The minute the ask stack tightens, emotion stalls.
One wants to watch for this more then anything else. I use to say think of all this like a cattle drive.
The wranglers can drive the herd right off the mountain. My plan is pause at each hill top. Then continue when you see the peak isn't a cliff, but a hill. Step out of the herd. And watch the wrangler.
When day trading, watching the tic by tic. Look at the ask stack build to continue. If you can't sit in front of your computer, look for high candle spikes and following red day, at the end of each day. These will help one evaluate if the wranglers continue to drive the herd or not. Once the wranglers are gone. the herd grazes, then goes back to where they last saw grass. They just don't walk over the next hill looking for new grass, unless driven.
I see the AX & Handle M&M's @ RNVA allowed a scab to start to form, on the bleeding. Hope they don't pick at it! LOL
Also would like to say continue watching for FAZ 3x bear play for some day trades. NOTE the ADX hitting 15. Calling for strong move coming. With DI+ pinching DI-. Ps; IMO any FAS or FAZ trade, should be day traded, not swing traded.
http://schrts.co/hLuCbJ
And if interested in swing trades, search the small cap oil & gas sector for some chart pattern trading.
https://www.finviz.com/screener.ashx?v=111&f=ind_oilgasequipmentservices,sh_price_u10
https://www.finviz.com/screener.ashx?v=111&f=ind_oilgasdrillingexploration,sh_price_u10
Yes that was a weak moment. I learned 10 years ago stay away from message boards of a stock. Opinions without facts are very emotional.
"Rules of thumb" are great aids when trading! High candle spikes are signals of exhaustion and thus reversals.
YEP, see the high candle spike, expect a red day next. See that red day. Take profits.
A little late but, as I always say. SELL on the first red day of a parabolic run. Re-enter when top resistance breaks, then SELL on the next Red day. ETC
Basically take bites of the pie. Don't try to eat the whole thing!
It's a non reporting pink. So there's little one can say.
The one thing I'll mention if your in. Todays volume was less then half the day before. And that doesn't look good for continued, on come back flag climb, to have top resistance broken.
I'd take profits if I had them. When you lose volume, you lose retail interest. Which becomes a down hill snow ball usually.
Everyone new and averaging down. Buys in dives.
But it seems my speculative guess was could have been off some what. Yesterday RNVA announced a new debenture closing for $1 mil plus $240k cost. Said debit loans were expensive.
At any rate; Using my tin foil hat stats, I came to the conclusion they could have raised $1 mil adding up volumes, selling @ par. Then the price dipped below .01. That's just about when the funding deal came out. So My crazy mind thinks they have $2 mil new cash to close second hospital deal on June 1st and continue operations on both hospitals for a while.
Between institutional investors Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Warrant Master Fund, Ltd. and board member Christopher E. Diamantis (with others); continuious funding / paybacks and re-funding patterns have taken place for millions of dollars during 2016 & 2017.
I have preached for years, "Do what the big guys do!"
I would think they know more about the business plan and what's happening behind the scenes, then the average message board poster or penny stock holder.
That gap down, for no known reason and eventual walk below .01 Par has caused concern. But today Sabby the institutional investors is plunking down another $1 mil plus. And June 1 the second hospital joins the fold.
What me worry?
Have you read and understand the 2017 K filing? Do you have any idea how OTC startup companies survive and grow?
Dilution is how. When one sees dilution on the OTC, one should be happy. It means the company has raised cash to grow ! Without cash their is NO growth.
When you see continuing institutional investors & board members holding the largest portion of the company debit, it means the company is NOT a scam.
Big guys don't invest millions in scam companies!!!!
Do some homework;
https://backend.otcmarkets.com/otcapi/company/sec-filings/12716367/content/html
http://www.4-traders.com/RENNOVA-HEALTH-INC-38066158/news/RENNOVA-HEALTH-CONFIRMS-INTENDED-CLOSING-DATE-FOR-ACQUISITION-OF-85-BED-HOSPITAL-IN-JAMESTOWN-TN-AS-26580280/
http://www.4-traders.com/RENNOVA-HEALTH-INC-38066158/news/RENNOVA-HEALTH-INC-Entry-into-a-Material-Definitive-Agreement-Other-Events-Financial-Statement-26580029/
RENNOVA HEALTH, INC. : Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits (form 8-K)
http://www.4-traders.com/RENNOVA-HEALTH-INC-38066158/news/RENNOVA-HEALTH-INC-Entry-into-a-Material-Definitive-Agreement-Other-Events-Financial-Statement-26580029/
Item 8.01. Other Events.
As a result of conversions of certain of the Company's convertible securities, as of May 11, 2018 the Company had 679,100,000 shares of common stock issued and outstanding.
Item 9.01. Financial Statements and Exhibits.
The point of my speculations is the company, like all OTC companies, needs cash to continue operation. I have zero knowledge of what is going on with the stock price action. But am guessing the company is issuing stock @ par value on the open market, rather the get involved with any new debentures or off market offerings.
Why the M&Ms have been capping both bottom and top price ranges is also unknown. One could give many logical "Maybe this" or "maybe that" reasons. But over the years I've realized most of the time, reasons are only known by the individuals creating the price action.
My main point is, of all the ways an OTC company could raise cash. Selling on the open market can be the least detrimental. Offerings can be expensive, Debit loans, very constraining to reaching profitability.
I will say, after reading the 2017K it seems management/the board has strong experience in finance. And It looks like most of the prior years of non profitable company assets and debit have been cleaned up in 2018. With one of the board members assuming a large financial roll on future business success.
There has been so many re-negotiations a laymen is lost. But the bottom line I saw is a board member holds most if not all debit, bad assets have been written off and put in non operational status. Plus the ceo & board own almost all the OS before the increase of the authorized to 3 bil. The company owns 1 hospital and is completing ownership of a second.
I feel NOTE #8 in the 2017k is the key to understanding the company financial standing.
During the year ended December 31, 2017, the Company repaid $110,000 that was outstanding to a former principal stockholder, and borrowed an additional $75,000 from this same stockholder, which has been repaid as of December 31, 2017. In addition, the Company borrowed $4.6 million from Mr. Diamantis, a director of the Company, of which $3.6 million was repaid (see Note 8).
Note 8 – Debentures
The carrying amount of all outstanding debentures as of December 31, 2017 is as follows
December 31, 2017
Debentures $ 17,720,082
Discount on Debentures (12,127,634)
Deferred financing fees (224,733)
5,367,715
Less current portion (1,615,693)
Debentures, long term $ 3,752,022
And this on page F41 indicates company ownership.
On March 6, 2018, the Board of Directors (the “Board”) of the Company, based on the recommendation of the Compensation Committee of the Board, approved grants to employees and directors of an aggregate of 71,333,331 shares of common stock, including the following to the directors of the Company:
Seamus Lagan 26,666,667 Shares
Dr. Kamran Ajami 3,333,333 Shares
John Beach 3,333,333 Shares
Gary L. Blum 3,333,333 Shares
Christopher Diamantis 3,333,333 Shares
Trevor Langley 3,333,333 Shares
Issuance of Common Stock
Subsequent to December 31, 2017 and through April 1, 2018, the Company issued an aggregate of 480,249,156 shares of common stock for conversions of debentures, warrant exercises and the issuance of restricted stock to employees and directors.
By asking who, are you asking which M&M? That I can't say. But when the company became listed, it had to have a market maker back their entry. I know of no way to find out who that was.
One way to guess is check the OTC monthly trade standards for who the AX is. Odds are the AX is the companies M&M.
check here
http://otce.finra.org/MonthlyShareVolume
ETRF #1
CDEL #2
NITE #3
Just watched L2 with 10k @ .01 ask, while 30 or so closes for 10k and larger. Those shares had to come from M&M tier 1 inventory. And IMO that inventory came from the company.
This happened yesterday at .011 to cap any run. So yes I'm seeing M&Ms working hard to move millions of shares BETWEEN .01 AND .011.
Speculation is not worthy of a thank you. Profits are. Besides, Petepickem brought this one to our boards attention. I only agree on potential.
Hopefully you will be sitting at the ground floor, unlike myself a couple grand in a less deep gap down hole. LOL
Success to speculation !
RNVA
Great day;
Obviously management had their market maker working to shift some new AS shares into the market for cash. Wonder why .01 held? LOL Common Stock, $0.01 Par Value not .00001 like most on the OTC.
M&M manipulation was masterful. They caped the bottom bounce @ .01, selling millions with L2 showing 10k @ ask. LOL I kept watching this afternoon saying who's feeding the herd. Then realized the AS went to 3 bil this morning.
So that's my guess what caused the large gap down for no reason and walk down to PAR. .01. IMO every share traded between .01 to .019 was company stock.
Did some research today and found most all debit is held within management. And most of management are financial small cap investment pro's. business plan looked safe to me, so I did something I never do. Averaged down for the future. LOL
I have little to no interest in the long term outlook of the S&P. Been having enough problems just picking swing stocks in this fluxing market environment.
I will say though, short term the last weeks run at the S&P doesn't have one technical indicator supporting climb continuation. IMO watch FAZ again! The S&P's gaps below WILL fill ! Also note, there is NO volume increases in the S&P climb. Confirming lack of support.
The chart looks good. Confirmation of it is top resistance break. At any rate. I got my first nibble, on first resistance break. LOL
RNVA .027
I see the standing resistance break order I had at .023, closed today. Could this be the third flag up? If so target is .042.
Wouldn't short into earnings. They have been good at earnings. No matter the old PR problems. The overwhelmingly bearish Street community doesn't trade stock.
On the other hand, shorts are piling on still. Up 4% from last report, to 15% now. Event after the large correction this year.
Other thing to conceder is new management? CEO has major changes planned!
You and the other 15% already short, may be correct long. But I still wouldn't open a new short position going into earnings next week. With a improving stock price & analysts up grades recently.
And if the new CEO does a PR turn around on increased marketing planned. You may see the short position fade. Because earnings has not been a problem area. And institutions buy the earnings. Earnings got the PE there and should keep it close.
IMO it's a watch and see for a while.
It always all about the numbers. Check what the big guys are doing here: Their actually liking Chipotle right now.
https://www.nasdaq.com/symbol/cmg
There are no targets on these funding plays. If they run, they run until the funders & accumulators sell all their shares. There is no chart pattern to give a sentiment target.
Liked the last 2 days of no volume. Tells the darkside retail is done, it's up to them now. Watch it dive or create a run. Also like management posted a fluff PR before the first positive price movement in 10 days. We may be seeing the ROI timing start.
CLIKIA TV
Yep it's running
http://www.clikia.com/channel/vintage-television-network
FB long look;
Back in Aug 2015 they dropped 22%, Jan & Nov 2016 they dropped 15%, and now they dropped 22% again.
Looking at a 3 year long chart, it seems those problems didn't matter. History repeats. So I wouldn't really be too concerned long run. Short term you might see a double bottom form off the present bear flag. That's up for grabs.
http://stockcharts.com/h-sc/ui?s=FB&p=D&yr=3&mn=0&dy=0&id=p28175858987
IMO you should.
RNVA--.023
Where I took profits 2 days ago. So they had to sell their run creation accumulation shares. IMO this one is done.
CELZ Another learning experience. From under a speculation tinfoil hat. LOL
Found this one this afternoon and found it interesting. So decided to research the latest Q report, looking for funding or debit conversion.
Basically large amounts of new discounted shares available to be sold on the open market!
My conclusion was I was too late. Because company insiders, which converted $157k worth of debit, had already IMO sold in the 3 day run. A company insider manipulation, rather then angle investor, was probably why the run was fast, 3 days not 5 or more days.
At any rate, from under my experienced tinfoil speculation hat. Here's how I see it played out.
Feb they spent $5k +/- ??? for the attention pop. .006 average price X 100 mil over 2 days accumulation. Next they converted their debit and reported it in the Mar 14 Q report.
Seems several posts here keep mentioning BMIC, thought readers might like to be able to see who & how much each broker dealer is involved with your individual penny stock.
Here's a link: Lots of info there: enter your stocks symbol
http://otce.finra.org/MonthlyShareVolume
_______________________________________
General OTC BB info;
http://www.finra.org/industry/otcbb/otc-bulletin-board-otcbb
??? Post about OTC funding!!!
BMIC is a OTC broker/dealer, convertible notes have nothing to do with M&Ms. It is about angel investment firms that fund OTC companies.
Actually that article has little to do with a normal sub zero OTC funding deal. Most all funding involves up front shares given and a convertible loan note, sometimes with warrants.
What that blog was talking about, was a different level of angle investment. Where all the lender gets is the option to convert the loan value into shares of common stock down the road. Usually 6 months after the loan date. It really gets toxic when warrants are involved. Which is a right to purchase an agreed upon number of more common, at a large discount from 10 day average price.
ALL THIS CONVERSION & WARRANT RIGHTS is actually what is used by the angle to secure the original loan amount from failure to repay. Since the normal OTC company has LITTLE or NO assets or revenues. What gets toxic is the angle ends up, many times, to be able to dilute the stock of a semi successful company. Killing it's stock value to recoup unpaid loan balances.
What that article says is clearing houses, which normally accept shares from the TA on conversion, can no longer be accepted on a conversion. Leaving a angle little recourse, if a loan is delinquent. Basically ruling out the loan structure of a convertible note as a funding avenue for loan security.
What most penny players are involved with in the sub & micro OTC company area, has "MILES" to go toward success, to have worries about a toxic effect on their company success. That's why most all funding given in this double & triple zero area included shares given along with the loan documents.
Got my piece of the pie @ .023 LOL
Ouch; so here's a post I'm not too pleased to post.
CLKA chart was just removed from stockcharts. It's officially now a no value pinky. Decided to update my darkside play numbers. It's all in the numbers!
With 95% of the 122mil traded today (nearly 3 times average volume) being selling and the .0006 close, the lowest ever recorded.
It needs some darkside intervention tomorrow!
Could end this post right here. But I'm a explain your opinion type and this is an explain your opinion board. Opinions are worth zero without logic to back them. IMO LOL
------------------------------------------------- the explanation
If this is a funding play and funders understand how to play the game. We really want to see them step in and keep the retail herds attention they got from the attention pop. Because with the audience leaving they would not have the dollar volume needed to dump their shares.
OK 310 mil dilution, funding offering price @ .0008 = $280k invested. With 130 mil accumulated in the 3 high volume days the last 2 weeks, between .0006 and .00085.
Using my speculation that's 310 mil by funder and 130 mil accumulated by funders/insiders/ big guy believers?, for a total of 440 mil shares entities hold around .0008 or $350k minimum they have to dump, just to break even @ .0008.
Now the 30 day ADV is 47 mil and the VWAP @ .0008 the past 30 days. That's $37,500 traded a day. Now $350k wanting to sell with $37,500 average trading the past 30 days. It would take 9 days selling if the price stayed @ .0008, to just break even.
(ADV = average daily volume & VWAP = volume weighted average price)
This all is getting to the game and the retail audience level needed to create a successful darkside play, over a manipulated 5 day run, for say at least a double, or .0016 target for them.
IMO if the darkside doesn't pop the price at least a little tomorrow; they possibly are not there. Meaning I was wrong and the past 4 weeks was very possibly for nothing. Looking at the numbers, they just can't afford to lose many more bored shareholders. Because you rarely see a penny player come back after getting screwed 25 to 50%. And a good game master knows that. IMO; ready for their run or not in week 4. They must support the play they started, to keep the size of an audience they need to succeed. Especially after a 122 mi 95% selling, close at record low day!
No help tomorrow and concern today becomes a take half off loss day tomorrow. No help Fri. There goes the other half's remaining confidence. Actually I could & did deal with them allowing it to break .001 support, to the .0008 level. That's where they financed at. I saw some logic in that. But wow, what happened today? If that 54 mil block wasn't an insider. we're screwed. And if he doesn't use some of that to change direction positive tomorrow. We're screwed. The grazing, now disturbed herd will stampede down the hill. Luck to use all. LOL
Can't help with FLSR . I have a rule; if stockcharts doesn't have a chart. The stock is not worth looking at.
Your answer is here. Just need to understand what drives minds. And which mind to look at. Large volume days can be a melody of music. Where several entities group to play. Doesn't have to be large price move days. Volume tells who is doing what and who to watch for sentiment.
Did I post to you about 10% of the 30 average daily volume could move a OTC stocks direction?
CLKA bad finish may have been partly you and what I think was an insider. Him 54 mil @ 11AM and you first @10:30 for 20 mil. With a 30 day ADV of 47mil. Basically I'm saying you guys manipulated the stock today. You pulled it down to the 6is and frightened many bored holders. IMO not a good play. Because if CLKA isn't a real funding play, your driving interest in the wrong direction.
So here's what might happen; The bored holders, that don't know the game, may start moving out so much, that if it doesn't run, you will not have enough shares in the CLKA market (liquidity) to dump your large holdings out. By pulling a stocks price down to benefit your beliefs of run or desire to average down, your limiting your ability to preserve capital if needed.
Not saying don't add lower, but don't go big! One who trades the OTC to win should lead the herd. Not drive them to the point they spook.
Also keep in mind M&Ms make money from volume. They will chase it when seen. Large block trades often determine direction. So unless one has enough cash to drive the price up enough to create an emotion run. Don't spook the herd in a down direction!
Pros which manipulate price have large amounts of cash available to buy ask stacks at opportune timing and get price climbing. Then once the herd is stampeding up the hill. They start selling what they accumulated, to feed the herds emotion.
This is when some M&Ms may jump in to help the run along. Volume is their cash cow. They often naked short, short term runs to help a manipulator. Because it means more income for the days trading volume and feeding is what drives emotion.
So here we are; the manipulator has a win, the M&Ms also, but they need to settle this naked short position within 3 days.
All of a sudden you notice an new AX shows up. The AX is the main M&M handling the most of the trade volume for the day. When you see an AX different from the norm, odds are they naked shorted yesterdays run the most. There are always an AX & a hammer during large volume days. You'll often see them dancing to the bid or ask stack, as they team work direction hoping to cut some of the naked short positions on walk downs during the day. But eventually at EOD they do have a naked short position that can't be cleared.
Unless there was a large volume day,, the day before I see no reason that 1 M&M should have a need to drive price down to cover. After looking at RNVA's volumes, I would have expected to see naked short covering yesterday, not today. Because M&Ms don't become naked short selling on a down day. For that matter the volumes the past several days doesn't seem to show the above mentioned game was played at all. IMO 50/75 mil during the move. Is pretty much a null.
So the answer to your question;