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Am I the only one hearing the there from "Rocky" playing ever since we got back over .53?
Motion seconded
Y'all panic WAY too much. If you could just open up a new tab on your browser and order about a case of chill gummies each, I'm sure this forum will be more pleasant by Monday.
That is what I was saying in post #121667
Don't forget 7 consecutive trading days of failures to deliver. MMs needed to bring the price down to cover.
This is what I was expecting to happen yesterday. It is a long term good thing for the true longs here due to what I have been hearing about a reduction of stock. I'd much rather that the company eliminate $1,000,00 worth of stock when it is going for .25 than the same dollar amount when it is selling for $1.20
wow! that takes guts borrowing money to invest in a penny stock! But, yes, in your case, it worked out and that was a good call.
While my prediction about heavy volume and ending the day green was wrong, its gonna be hard to keep my hands out of my pants when the short interest get posted later.
Good luck to all. More fun tomorrow!
could it have been a short covering?
Either way, I just got 30k at .01 so I'm happy
I put in a 30K buy at .0100. I'm hoping it gets filled --we'll see.
LOL, no worries. If they don't bring it down soon enough for me, I am already watching another stock to invest (at least temporarily) in so as to not have stagnate money.
So far this morning, it appears that I gave the shorts too much credit. Attempts to drive down the price have been unimpressive and the volume isn't as high as I anticipated either.
I understand that completely! I do way more with real estate than stocks (as my name implies)
If you eat all your eggs every day, you will eventually realize that you never get to eat chicken. I knew that day traders would do well today but I dont be surprised if it works out later that you missed out on much larger profits that you wouldn't have to pay short term capital gains tax on.
True. I am confident that they will. Today is one of those days where fools and their money will part ways.
and what price are you guessing for the dip?
Then I wouldn't sweat this a bit today anyway. If you wouldn't sell at $1.20 or at .20 either, the numbers we see today are no reason to get excited. I personally would kind of like to see it go below .50 today because if the MMs get cheap shares, so do I
It only gets ugly if you weren't planning to go long anyway. Yes, there will likely be an early morning substantial drop but then it will come back up. It will be a day traders dream IMO
On January 12, the short position was over 538,000. We have have six consecutive days of failure to deliver. The MMs have been consistently trying to drive the market down so as to cover without a loss or least reduce the loss as much as possible. Short numbers will post again today and they don't want us to know just how short they have been. So, my prediction for the day:
Lots of trash talking and negative spin. Yet another attempt to drive down the price as far as they can but trying to cover as much as possible by the end of the day driving the price back up for very heavy volume and a green close.
I guess we will know in a few hours...
We are doing great then if they are still short and we closed over .70. Tomorrow evening we should see the actual number they are short which means Thursday could soar regardless of this audit that everyone is making such a big deal of.
Based on where I bought in, every day we stay above .50 is a win. And IF they are ever able to drive it below .50, I will buy more and consider that a win also.
I still plan to buy more if we hit .50 just the way I planned yesterday. Part of me is actually wishing the shorts a bit of luck in their endeavor... weird huh?
I'll prepare my finest slum for them to share. Maybe I'll go punch a hole in the wall and rip up half the carpet when they finally have a day without a failure to deliver :)
I always get excited when I see that red line for opening at the bottom. hope it stays there :)
If you short a stock, you are supposed to produce it the next day. I've seen somewhere that it was two days for POTN stock but I can't remember where. If you do not then it is marked as a "Failure to Deliver". I am by no means an expert here given that I have never shorted any stock and find the whole process to be immoral even if not illegal. There are plenty of other investors here that can probably tell you more than I can about it.
Down a nickle in pre-market. Expect more drama today (I do hope I'm wrong)
If the shorts completely cover today after five days of failures to deliver, we will see $1.25 easily and they better hope they cover before new money comes in.
And for the love of God, remove your stop losses so the shorts don't shake out your shares.
Congratulations to all who held the line yesterday. Yesterday was yet another failure to deliver. Even though they got some shares from weak hands and forced several stop losses along the way, they are still short. The MMs will likely try the exact same tactics again today, depending on whether they are even shorter now than this time yesterday. But this is like a fart in a bathtub, its going to find its way up.
I forgot where to go to see the failures to deliver. Can someone post that again? Thanks in advance
I was waiting on .50 myself :( The shorts gave up sooner than I expected.
You could take those profits mentioned earlier... I'm guessing you don't intend to? :)
God has helped you. You will have an opportunity today to sell at .69 which would be a $10,00 daily profit. I recommend that you don't but its up to you.
I am not at all surprised by what has happened this morning. Still preparing to add when we get to .50. Anyone who has real faith in this company and planned to be long anyway should not be disheartened by this. I will be surprised though if this is not yet another fail to deliver day. Shorts are buying imaginary stock from each other now to cover their old failures.
Any minute now we should see another plunge because shorts like digging their hole even deeper in this stock. Don't be weak or stupid. This will be another failure to deliver when all is said and done.
Its probably just more shorts. This is survival of the fittest. Let the weak die, more for the rest of us down the road.
Personally I hope that short it back down to .50 so I can buy more. Imagine how many failures to deliver there will be tomorrow :)
I'd love too! I won't even put a price on mine. Just watching this and knowing I am a part of it is simply priceless :)
Mine are locked solid. I have an old grudge against shorts and would sacrifice half of my potential profits to see them lose their ass on this
I'm liking all the failures to deliver. I don't think any legitimate holders should even consider selling until the shorts have covered. This stock has been so heavily shorted that shorts will ultimately continue to run the price up on each other just trying to cover. I find that hysterical.