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I did that - nothing.
Just an intro commercial, then silence.
not getting anything either...
complete silence at Traders Nation
Dosen't explain zero shares traded. EOM.
What is going on here?...
No volume? What gives?
Agreed.EOM.
Company cannot issue shares below par value...
IMO any shares being sold at .0009 or lower are shareholders or short sellers.
stock is trading at par value...
you are correct IMO, the company cannot sell shares below par.
read:
http://www.wisegeek.com/what-is-par-value.htm
Point taken. However...
This IMO is a good point to take a shot at a move upwards. As I've posted before, even if you assume all 3 billion authorized to be outstanding, you're talking about a trailing PE of ~1, and a forward PE <1. That is a ridiculously cheap valuation.
Also, par value on the stock is .001 - they are not allowed to issue stock below that. That is why I think we got the price/volume surge at that level. People know that barring another 14C signifying a RS, and with the numbers this company is putting up, this could be an excellent entry point. I will concede that a close below .001 could indicate that another 14C is coming, but until that happens I maintain this is worth the risk for me.
Here's some more on Par Value (from wisegeek.com):
In finance, par value is the least amount that a share of stock can be sold for, according to the terms and conditions that are found in the regulations of the issuing company. In most cases, the par value will also be the initial trading price for the stock when it is introduced in the market place. However, the expectation is that the par value for the stock will shortly be exceeded by a higher market price.
It is important to remember that the establishment of a par value for a stock offering is essential to the basic structure of any stock. By establishing the minimum amount or price that a stock can be traded, the company makes places a limit on how far the stock can fall before being removed from active trading. This helps protect the company from any attempts to devalue the stock below a certain point and thus make it possible for raiders to acquire cheap stock and a controlling interest in the corporation.
Price/Earnings ratio based on 3 Billion Authorized shares...
Stock is now trading at a PE of ~1 based on the full 3 BILLION shares that are authorized.
Unfortunately, based on the rate/history of dilution in CCTR, IMO you really have to assume the authorized will eventually become the outstanding. Question is, how long will it take to get there, and will there be a period in the interim that the company will let the stock breathe for a while? There could be a real nice run if the dilution stops for just a little while and the valuation is allowed to take over.
The huge recent volume surge and pop around .001 suggests to me that area may possibly be some sort of bottom. And again, with a PE of around 1 based on the AUTHORIZED share count of 3 billion, I am finally off the sidelines. Bought at .0015, .0013, and have one more order in at .0011 - first thing is to see if this holds .001 on a closing basis. If not, I'm out. But I am willing to take a 25-50% loss because IMO the upside is many, MANY times that.
Anybody who disputes that, please show me another stock with these type of growth rates, trading at a PE of 1 based on the AUTHORIZED share count. I know I won't get a response because there aren't any others out there. But please, feel free to prove me wrong.
Valuation almost always wins out at some point, even if in this case it's only for a while based on the 800 pound gorilla...dilution.
More cash than market cap...
this is EXTREMELY rare in a growing company. They could theoretically buy all the shares out for ~2 million bucks, and still have over 2 million left.
Granted, they are a diluting machine, but even all the way up to the 3 billion authorized share count, I challenge anyone to find a cheaper valuation in the trifecta combination of PB, PE, and PS.
If you have one, please post the symbol. I doubt that you can.
They (the MM's) will only cover...
When they are forced to cover. Only sustained buying pressure will force them to cover. If the buying pressure tails off, they will continue to relentlessly short this until they turn the tables and force the longs, out of fear, frustration, etc. to sell their stock. Only the true longs will be left, and they will continue to think they are getting a bargain buying "cheapies", while those cheapies continue to get cheaper and cheaper.
So it's really up to those longs or potential longs with dry powder to step up and buy, instead of being cheerleaders. Otherwise, this stock will end up like 99%+ of the other penny stocks out there - worthless.
Not a basher, just a realist. I do have a position, got in at .002 yesterday. But I do realize that the MM's hold virtually every advantage, and that for "us" to win any of these battles is quite rare indeed. That being said, in that rare instance we do win, the moves can be quite large.
The key, IMO, is to keep your losses small, so that when you eventually hit the big one, those gains outweigh the many losses that will eventually be incurred.
Anyone who claims I'm a basher, fire away. Again, I see myself as a realist who dosen't trade on emotion or delusions of grandeur.
So, lets see if IGSM turns out to be the exception, or one of the many failures that the penny stock market produces, thanks in large part to slimy MM's who short these stocks into the ground simply because they can.
Good job. If we print .0024's...
I will place a buy order at .0025
thanks g. eom.
when are the extraction results expected? eom
I'm with ya, cork...
Don't get me wrong, I hope you prove to be absolutely correct and my skepticism completely unfounded.
But anyone who has played these pennies long enough realize that the true longs ALWAYS believe that their situation is the exception to the rule. Most times they are incorrect in their assessment, but every once in a while things go as planned.
Truly hope this is one of those times.
To each his own, cork...
Personally, I feel relying solely on anticipated fundamental events, especially in a pink sheet sub-penny non-SEC reporting stock, is playing with fire.
The market is absolutely littered with these type of companies, and they always have their core of true believers who think the prospects are so solid, that the cheaper the stock gets, the more of a bargain it is.
I may miss out on the huge winner in the rare instance that the company actually does come through on what it claims, but on the flip side I always make sure I either preserve profits or keep losses to a minimum by using the charts.
Again, to each his own. For now, we're in this together and I wish us both success.
no buyers = no upward movement. eom.
Three Stooges giving up on .0023's?...
Looks like ETMM, NITE, and UBSS are trying to scrounge up some .0024's instead. Can't imagine many sellers are left, although I suppose Moe, Larry, and Curly can always manipulate to give the impression that more supply is hitting the market. Hopefully, it won't scare many into selling, but it might.
In either case, some real buying needs to happen. Otherwise this will roll over.
And to those looking for shares even cheaper - careful what you wish for. If the charts break and the momentum builds up to the downside, there will be plenty of "cheaper" shares available, and probably for a while.
Pretty clear to me that the mid-point of the BB's are where support is. Whether or not it will hold is anyone's guess.
thanks. eom.
.0027 or .0028 close? EOM.
That's actually a good point...
For those of us that like to buy breakouts, it only helps those of you with the gumption to buy the dips. You will make greater % returns than us, so you should be happy that we try to pile on when the MM's are having trouble holding the stock down.
And make NO mistake, the MM's are always trying to hold these pennies down.
In a way, we work together; you guys provide the floor, and we hammer away at the ceiling.
i agree, g-ianni...
volume will be the key, especially at the ask.
and of course, on cue, another bid whack at .0028
just beautiful (insert sarcasm here).
I see that phresmeat...
And look what happened to the bid/ask when you did. If nite can be taken out, .003+ is right there. Unless of course The Three Stooges (NITE - moe, ETMM - larry, and UBSS - curly) keep playing their games.
As far as me buying, i buy breakouts. which is what i thought we had earlier this week. i will wait until/if we get past .003
to all responders to my post...
don't get me wrong, not trying to cause trouble. and kudos to you who have been buying all along - especially those who are doing so at the ask.
totally respect the fact that if you don't have the funds right now, you can't buy. i am more referring to those that do, believe strongly in the prospects of the company, yet wait on the sidelines for someone else to jump in, or plant themselves on the bid and let someone else buy the ask.
my point is simply this is ripe to run, NOW. level two is very thin, so IMO this is the time to pounce on it.
another end of day slam like wednesday and the momentum could be gone by monday. either way, this is an interesting play. either we are being set up by the MM's for another drop, or this is ready to roll. At this point, I think it could go either way.
Don't see it...
high for the day is still .0027
?????????????...
Nobody is willing to take out NITE at .0028?
This is my problem with message board cheerleading. You have a stock ripe to breakout, yet no one puts their money where their keyboard is. I have a small position, but am still wary of a breakDOWN. Unless somebody, ANYBODY, steps up, that danger still exists.
L2 is very thin, threes are right there. Why aren't any of you "believers" buying the stock?
oops, hit enter by mistake...
meant to say I picked some up at .0001 earlier this week.
Barring a reverse split, as long as there is a bid on the stock I see this as a risk free trade, no matter what happens.
I've never seen a actively traded stock close below .0001 - if they are out there, please provide a symbol. Thanks.
picked some up at .0001 ...
I've been doing this for over ten years...
And I have NEVER seen what just happened in the last few minutes.
I had a feeling the MM's were artificially holding this down, but I was not expecting that.
Beyond incredible.
Disagree, but to each his own...
Of course you're going to miss out on big movers that are news driven sometimes, and of course you will sell out too early sometimes, and of course you will get shaken out too early sometimes. That's part of the game. But on average, they have served me quite well.
If you think they're unreliable, then you don't know how to use them and could be dangerous to your wallet. Stick to your method.
nope. not yet at least...
still hoping this is just a MM tree shake, and that some buying is yet to come from someone(s) before the close.
we'll see.
Nope. "Chart guy" still here...
Must be some other chart guy(s). I will stay in until I see how this last hour pans out.
I must say, I love the disdain for people who use TA as their guide. Has be good to me for knowing when to take profits without being too greedy, and when to cut losses before they get out of hand. And also when to realize when my investment is becoming dead money better used elsewhere. To me, that's a heck of a lot better than blind faith, waiting for "news" that may or may not come.
What's the latest here?...
I see you folks are still waiting on the pinksheet updates.
What is Brad saying now?
I'm here because of the technicals...
I am not waiting on news. If "most" are indeed waiting on an update, and the chart suffers as a result, that would probably be my cue to exit.
Looking forward to the last hour. I'm hoping for a little burst to close this strong, and set it up nicely for next week.
We'll see.
The close will be the key...
Good start to the day, but IMO where we FINISH will set the tone for next week. That's really what matters.
The last hour will have my undivided attention.
I have a position here...
Got in before the close on Friday. now it's just a matter of whether or not I want to stay in.
Thanks Cuban...
Guess the volume will have to come back without a catalyst.
If it dosen't, momentum wanes, and the stock toils in limbo indefinately. Just like I said with IC*Y a month ago, and I see people are still waiting on that one.
I will see if the volume comes back tomorrow before making any decisions. Too bad, because like that other one, the L2 is super thin. Dosen't need much, but it needs something. ANYTHING.
somebody posted here...
that there will be an update this afternoon or in the AM.
that's not why i'm here however. the chart is setup very nicely. THAT's why I'm here...
If news is coming...
I'm hoping it's by pre-market tomorrow.
And it better not be fluff, that IMO will be sold into.
I see that too, wake...
It's just that the volume REALLY tailed off yesterday, and as of this posting it hasn't come back. L2 is very thin, it won't take much, but it will take SOMETHING.
Looking for another spurt in the final hour. If it dosen't happen, I will be watching very closely tomorrow to see if the run is done (possibly).