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I don't think it will drop that much in one day, but the direction appears to be correct.
I'm now looking for a drop into the $0.90s possibly by tomorrow or Monday.
MNKD is on my short-term Avoid List.
And just 10 minutes later, MNKD is down to $1.06.
Glad I made my 3% and got out.
Charts can change fast. It's amazing how fast a Buy signal can turn into a Sell signal.
Sold my MNKD position at an average price just under $1.14 shortly after the open. Only about a 3% gain overnight, but nobody ever went broke ringing the cash register.
I don't like the way the charts look this morning after the opening trades. In fact, I wouldn't be surprised to see this trading down to $1.00 later today.
Bought MNKD at $1.11 near the close.
60min charts look favorable for tomorrow, though there's always the possibility of a dip first.
And again, I thank you for trading!
I think we all do! We couldn't make profits without investors like you in the market...
It could be worse.
LEXG could be late in filing and be dropped from pink to grey sheets, as might be the case with DBMM this morning. If that happens, all outstanding LEXG shares could essentially become worthless.
Wait! Didn't they just say they'd be late to file their quarterly report? Uh oh...
Again, LEXG is on my Avoid List. I don't recommend anyone touch it for now.
As I anticipated in yesterday's post, LEXG has now fallen below 10... all the way to 8 again. I expected it before the end of the week, but it came a little sooner than even I thought it would.
Hope you enjoyed that little pop. It won't happen again in the immediate future IMO, so LEXG is back on the Avoid List for me.
No, unfortunately I missed out.
I had seen the potential when we were hovering between 7-8 and even posted about it, but I'm a short-term trader and didn't want to buy and hold for an extended time waiting for the pop.
Don't worry, you'll get the next one. If not LEXG, then something else.
I hope you guys took profit at 20. This was that sudden squeeze I had previously mentioned could take us from 4 up to 20 in a heartbeat. Well, now that it's happened, I hope you took your profit and got out. I wouldn't be at all surprised to see this trading below 10 by Friday.
When a penny stock gets this quiet and stays at these prices, it has the possibility to explode up in a brief squeeze.
No, I don't think LEXG is a legitimate company, but I'm a trader and not an investor, so I really don't care. The longer LEXG hovers between .0007-.0009, the better the odds that it could easily jump to 20 or 30 (briefly).
Just look at what DBMM did over the last few weeks.
However, this is just speculation. I do not currently own any LEXG and I'm not planning to anytime soon. My funds are fully invested in shorting the SPX right now, as I expect some type of pullback for the broader market at least into Monday and possibly longer.
Started buying MTBC at $2.13. Have added a bunch more all the way down to $2.09 and now have fully invested my available penny stock funds into MTBC with an average price just above $2.10.
My charts show strong buy signals, which should propel this to the upper $2s by tomorrow IMO.
As always, do your own due diligence before trading.
Still holding DRYS from $5.33 earlier today. Stop loss at $5.21.
5-min charts say this could easily squeeze into the upper 5s later today or early tomorrow.
Finally, a 5-min buy signal on DRYS at $5.33 with a SL at $5.21
Going long for a scalp...
Who's with me?
Sold my GLD calls this morning with GLD trading at 116.55 for a 43% gain overnight.
Gold may well continue higher and stocks lower for the remainder of the day, but I've already reached my goal on this trade, so there's no need to risk it.
In all cash for now.
Cash adjusted open would be around $6.70, I believe, and it's currently trading at $5.88 premarket. That's a 12% drop.
I so informed you thusly...
Short-term Buy signal on GLD on my charts.
I'm expecting an uptick in gold for the next 24 hours, having purchased GLD call options that expire this Friday while GLD was trading at 115.99 and plan to sell them Thursday afternoon.
GLTA
As I warned yesterday, DRYS has now fallen into the 80s.
I'm avoiding DRYS until after the reverse split tonight, but the charts seem to favor a bearish outcome to the RS.
Gotta admit, it's pretty funny that Alex is still putting out fluff PR when his stock is completely dead.
Come on, Alex. Wait until the 100:1 reverse split, then you can start posting fluff PR and diluting it again.
I continue to avoid LEXG.
And as DRYS drops into the 91s at today's close, I'm still looking for a drop well into the 80s tomorrow.
I so informed you thusly...
P.S. - I'm holding my short SPY position overnight, expecting a rare but significant drop in the broader market tomorrow morning.
Agree with all of the above, except apparently it's not criminal.
Anyway, I don't expect anything to happen with LEXG until the next reverse split (probably within 30-60 days). Then, it's back to fluff PR and dilution IMO...
That's not what MACD is indicating.
Look out below!
I've got major short-term sell signals on my charts at $0.94. (I realize a couple days from now when the stock is trading much higher because of the reverse split, this post won't make sense to those reading it for the first time.)
I'm looking for a drop into the lower 80s by tomorrow, pre-reverse split. However, I'm not chasing this stock either way -- I'm holding a short SPY position, instead.
Closed out my DRYS position at an average price of about $1.04.
That's an easy 5% gain just for holding over the weekend.
And now, I've moved my cash into SPY puts, as I expect some sort of downturn in the broader market. (short from SPY 239.52)
Some short-sighted fool is trying to dump 30K DRYS shares in the afterhours market and is driving the price artificially lower.
If I didn't already put my allotment into DRYS before the close, I'd be buying more now. It's a steal at $0.94 IMO, as I'm thinking it will test $1.35 sometime Monday or Tuesday.
I bought DRYS at an average price of $1.02 before the close and plan to hold into Monday or Tuesday at the latest. Looks like another wave of buying is likely Monday morning.
I will not hold through the reverse split on Wednesday, though. This is a swing trade only.
... or reverse split within 60 days, followed by resumption of dilution.
LOL. It's okay if he crosses my path. I scalped LEXG a few times and made money most of those times, with a couple losses.
I might even take him to McD and buy him a Happy Meal with my profits...
Reiterating my short-term bullishness on LEXG...
60min charts suggest a bounce to 14. I thought it would happen by the end of this week, but it might not come until Monday or Tuesday.
However, I'm personally not putting any money into this stock for now. It's a scalper's stock at best, and since I'm expecting a reverse split this month or next, it's just not worth the risk IMO.
A takeover target? LOL
There's nothing to take over. Absolutely nothing, well, except for that broken down truck that was in an "accident" years ago.
Nonetheless, the short-term charts say "bounce".
Like chemist said, do your own due diligence first... but then consider that the 60min charts are suggesting - though I stress, not guaranteeing - a bounce from 9 to 14 later this week.
For what it's worth...
I have a BUY signal on LEXG at .0009 on the 60min charts this morning.
However, I'm not buying any of this POS at this time. Instead, I've shorted the S&P 500 (via SPY) at the open, and that's where my attention will be focused today.
Thanks for the reply.
However - and perhaps I'm missing something - that doesn't make sense to me, unless you're saying VIX futures are that far out of alignment with their historical tracking of VIX itself.
In other words, was today a one-day anomaly that had VIX futures out of whack with VIX? If yes, then that explains UVXY and TVIX. But you suggested this isn't unusual and that VIX futures are usually calling for a VIX rally, suggesting this is normal. So, is something else is going on?
Personally, my theory is that UVXY and TVIX were disrupted over the last 48 hours simply because I had calls on volatility - just to spite me - but I'd rather hear a logical explanation, because this was extremely frustrating!
And for what it's worth, the trend is continuing in the after-hours. SPY is down slightly, and so is UVXY. Typically, they should be moving inversely to each other.
Can someone please explain why UVXY barely budged today, while VIX was up 7% intraday?
I correctly labeled the bounce in volatility late Wednesday, but didn't make anything at all because I traded the bounce with UVXY options and UVXY failed to rally with VIX. In theory, it should have rallied at 2X the rate of VIX, but it lagged the entire time and actually closed down 0.14% today while VIX rose 4.34%.
I realize UVXY tends to have heavy time decay, but not much on a day-by-day or hour-by-hour basis, so that's not it. Also, UVXY wasn't adjusting for being out of balance with VIX the previous day. I see no other days with such a large divergence. So what gives?
Ugh!
Please tell me if you have an explanation.
Thanks.
Why does anybody even bother to follow LEXG or post in this forum?
Nothing's happening until the reverse split (probably in May or June)... and even then, it will just be another round of dilution.
My charts are still bearish on LEXG short-term, and I'm expecting .0008 probably by Tuesday.
It's looking like an RS is not only inevitable but likely coming sooner than later. Otherwise, volume will dry up and his financiers won't be able to sell their shares. No buyers = no dilution... and we all know that scenario is unacceptable to Alex.
Thank you!
I gradually sold off my LEXG shares this afternoon. Average price was around 10.5 -- a small loss, considering that the charts have now turned bearish heading into early next week.
I'm in all cash for the weekend. No reason to sweat this either way.
Have a good weekend all, and get some rest. :)
Don't forget, they also need to raise money to pay their PR guy to post more fluff next week. LOL
Reiterating my bullishness on LEXG.
I averaged in at 12 yesterday and am still expecting a climb to 15 (or higher?) by early next week.
This is causing the dilution I warned was coming to make those payments over the next 3 weeks.