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The red action today was caused by a 35K share dump in the early hours... there was follow through selling all day... and I suspect this will continue for 3-5 days... then the shorts / put's will be tested ... I would like to say I won't close my position by next Friday... but depends on the short term catalysts... I would love to hear one of the stars in Hollywood say UGG's are out!
The time when you are most scared to short... that is the time you are likely to not make money... the time to short was this morning when it was pushing in the $70's nearing another 52 week high... that $70 number is going to clear the minds of the longs and let them remember how overblown this has become... DECK longs are lucky that their earnings were so great in the recent quarter because the market was preparing for a dump... this inevitable occurance should happen shortly... and is beginning now... this needs to head back toward a more reasonable p/e... over 20 on this company is ridiculous... the winter is over... and it's unlikely the popularity of the UGLY UGG's will continue... they are out! IMHO!
The reason it got this high appears to be the non stop upward pressure (causing shorts to bail out repeadedly) in the first place... I like the option play much more here because of the expense of the stock and the risk of any further short squeeze that will prove temporary... otherwise, this stock only deserves about a 8-13x multiple... 21x for a line of products that a surviving only because of the continued popularity of UGGS... one dangerous play for the longs... a solid play for the shorts from here IMO! Hello $40's by summer!
DECK Deckers Outdoor is ready for a pullback here IMO...
Chart is doing a flat bump off RSI 70 (bearish)
The MACD reached a top is is now preparing for a downward crossover.
Slow Stochastics has reached a top has turned... next time we head below $69 today or tomorrow, further selling should push it well in to low-mid 60's... and possibly upper 50's if the market continues flat to down.
I am opening up heavy on the $70 put option for April... $3.60 is steal!
LEAP is extremely overvalued here... outlook is sorta like XMSR and SIRI were when they were high fliers....
LEAP is significantly overpriced... should be near $40 over next few months... IMO!
SINT looks like tomorrow going to be a happy day!
I just added more ETIM's here at .0013... I will keep adding down to .0012... if I see prints below that... I may become a basher and sell... lol...
Too much gain in one day IMO... 200% on Friday... has to churn... I suspect late today / tomorrow will turn the corner... this is a low volume sell off given the massive 1.4 billion shares or so that were traded in the last 2 days... today is the ho hum selling pressure by fools who didn't sell in to the buying power, johnny come lately?!... by later today or tomorrow, the big money will be pressuring this thing higher... how high, I see .0030 coming quite easily by early next week!
Didn't have to be said... the sidelines like myself that missed day 1 waiting for sell off on day 2... ton's of volume... and minimal downturn... cleary today ETIM moved up and down quite easily... and violently given the volume of 506 million shares and covering .0016 - .0026... best of luck tomorrow... chartsters say support is .0015 as worst case...
ETIM today's pullback was to be expected... bought in today at .0017 and .0018... in for 6.5 million now... expecting higher ground this week... a pullback after a 200% gain on friday is not surprising, is it?
Buying ETIM 4 MM SHARES AT .0017/.0018 now... this is a great opp after the 200% increase, one must expect some weakness day 2... and if this is the "weakness", tells me ETIM is damn strong!
Adding FCX here... I was surprised by this mornings selling activing... I hope not to be surprised again... the selling this morning was like blind dumping... very odd.
Picked up FCX today at 55.29... thinking it is headed easily back to 56.30 by Monday if not on late day action today...
ABX ... often one of the loser picks looks to be maken a turn for the better... up above $29.30 and looking strong... I think this will be a banner break out week for ABX!
The question? Why is FCX not following other gold stocks...
First, today opened higher both gold and copper moving north... FCX has a muted gain... just a few cents...
Then, gold shifted away from it's highs... and so did copper... now both are significantly in the red.
So, why did FCX stay in a relatively tight range. Seems someone is trying to load up... but isn't willing to overpay. Someone is using the retail selling to build up a share count.
that is my only explanation... while gold was going from down .10 - down $5.60... FCX was actually rebounding... at the same time Copper was losing ground... FCX was rebounding...
Any other thoughts as to why there is clearly support in this area?
KGC is getting a push each day... and check other gold stocks... generally flat to down by comparison... someone is moving money in to KGC... and back to $15 or higher she is headed... IMO.
KGC is currently moving higher independant of the moves of gold and other gold stocks... let this be your sign that bid pressure is strong... and those in the know are getting shares of KGC...
Bought a batch of KGC at 11.20... just added another 3K shares at 12.20... seems she is unstoppable currently!
This was and is a great call... KGC clearly is standing out as a top performer of the next gold move... each day it's getting a pre open push... and I think the gold bugs are going to be proved correct in saying today is the beginning of the next leg up of gold... $800 in the next few months is possible...
I jumped in at 50.19... but just 725 shares... not enough freed up capital yet this new year.
I am loaded... adding tomorrow... CLYP gone means .01 coming soon! (I hope)
I was shaken off on Friday, looking to reload... it tried too hard to break 4.40 on Friday... when it finally did, there was not steam to keep it up... so, the slow sell off brought her down... i should have reloaded OED, but my day trading number dropped below 25K, so I got stuck.
Totally... also, dilution should end soon... a massive amount of shares have traded and the a/s just isn't high enough to allow much more ... it may already be done... look for a big gain... in the near term.
ETIM catching 3 mm shares in the last few mins... .002 on the bid now... with good support.
ETIM Wants to move... double bottom from yesterday... and the bid looking solid...
ETIM just started getting hit... b/a up ticks and 3 mm volume in last few mins.
ETIM just started getting hit... b/a up ticks and 3 mm volume in last few mins.
ETIM just started getting hit... b/a up ticks and 3 mm volume in last few mins.
Bidwhacker out... turn is on... back to 4.40 and higher...
* Sell at the ask here... you will get filled... patience.
CHCG... good opp to add here at 4.29... this thing is destined to break 4.95 in the next few trading sessions.
I do like today's doji?
$4.95 break coming in 1-2 trading sessions...
CHCG is looking outstanding... above average volume and another 10% gain today... off most radar screens... which I like...
With the massive volume... we have to imagine that the mixture of dilution and short selling as well as people giving up is causing this nasty decline... I just hope the dilution is almost done... because if I knew I had hundreds of millions of shares to dilute with... I would short at the top and dilute at the bottom and further pressure us down... hmmmmmm
I want someone to tell me wtf ETIM is going to stop diluting?
They said no further dilution in previous pr... but the current round is taking forever to finish? How much is left!
I was being sarcastic... $7 it is.
I guess they still need more liquidity... gotta pay around $10 to get a share?
They are claiming .27 for 2006
When did they sell those shares?
Does it have any shares for sale?