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I sold for the short term gonna wait to see if it pulls back a little and get back in. I hope it does or I’m gonna kick myself.
My statement has nothing to do with Tony. I’m staying the obvious. There was a lot of buying in upper 20s from new and likely existing shareholders but lots of new. It stands to reason that the longer it lingers BELOW the price that those buyers bought it at the more likely they are to sell some and selling begets selling. There are psychological retracement levels that the average human bails on which is exactly how trading algorithms work. They look at the trade blotter and where the bulk of buys were at they use tried and true retracement techniques that generally cause some percentage of selling. Fibonacci retracement based on Fibonacci numbers are levels at which people bail. These are numbers that occur in nature and oddly even the human mind works along these numbers.
You won’t have accurate support and resistance for day trading because this stock doesn’t have short interest. Most selling in stocks is a combo of short interest and things like stock becoming free from note conversions say. This one is almost all conversions so that doesn’t create proper support and resistance because there is no obligation to buy back. What you can look at is that over last 6 months you can draw a line across upper 20s where there was a lot of buying. You would expect that if that is broken there will be selling at some point if it lingers below that level long. That’s about the level of technicals you can apply to a stock that doesn’t have both longs and shorts.
It’s not one person who got impatient obviously because it has broken all technical support in upper 20s. Without a PR there is nothing to stop it from falling.
Not here. There is downside risk to .19. I would pick a little there.
Any positive thoughts on this it looks really bad?
This thing should not be trading down at all with Tuesday in sight. Hopefully it changes. They need coverage like CNBC plug.
Is there a PR today? Usually they don’t come out on Friday.
Hopefully for a nice vacation rather than as just a bag holder
Again what you are saying defies that actual observations of short interest etc. retail traders don’t have access to shorts without making calls to their broker and there really is no motivation for someone to do that at the levels we are seeing. This shorting is institutional.
I can’t see how short interest rate dropped. Nobody sold today it was a solid day that looks to get better so I think games are being played again.
With the pullback in the market the ETF should do well - there’s some great names that recently got hit and should rebound
They have to. If there wasn’t continued shorting this thing would erupt 20 points. They are hoping to slow this down, hope for some event that benefits them, hope that people get bored of this. It’s a lot of hope but technically this thing is in our favor right now. We will need continued buying and it doesn’t have to be a lot.
I think this does get to 14 easily regardless of what the real value of the fundamentals are. This is a technical play and the institutions are bad at predicting unpredictable behavior. The buying behavior here defies what fundamentals would tell you so I do see this easily going to 14. With sustained buying and further increase of short rate it could break through then next stop 20. Having said that there are always things we have no view into and the institutional are very crafty when it comes to trapping investors.
I was a developer for institutional trading platforms which is why I became familiar with the end to end trade flow. I’m very familiar with how algorithmic trading plug ins work. It’s possible to buy very rudimentary algos for a retail platform but much rarer to build your own - but what I see here is large institutional algos at work with lots of money. This is not the action of individual retail traders.
This is algorithmic though. Retail traders can’t place bid and ask that quick to drive this up.
I agree that some of that is happening but the short interest is going up massively based on short interest rate so the pump and dump theory doesn’t explain everything.
Like I said on previous post. Retail traders can’t manipulate the the short interest the way it was manipulated. They were hiding naked shorts by failing and then last week were forced to allocate the fails properly back to short which spiked the short interest. I worked for a bank for 30 years and was a subject matter expert on settlement and that’s what it looks like to me. Only funds can play with allocation of naked shorts between fails and paying short interest. Depends on the cost of carry which one is more advantageous and how long you can do it before compliance reins you in.
Not sure what you mean by big retail but the only people that can play with fail to deliver numbers versus actual shorted shares allocations are institutional accounts. That’s why it shot up from 12 percent to 80 in a few days. They had been hiding the actual naked shorts in fail to deliver numbers and probably were forced to properly allocate those to actual shorts. Retail can’t do that. That’s a fund working with the prime broker and the prime broker probably put the hammer down and said no more games.
Shorts losing 7 percent a month in their holding just holding it with this short rate. At some point someone has to fold.
Also two reverse head and shoulder
Chart says to me hits 11 at least tomorrow
Well hopefully that’s the end of it
I added in the mid 3s a little then luckily I had an appointment and didn’t get back till near end of day and picked up the rest at .027 and .0275
Anyone notice the 8.8 million share trade for .03 after hours
I added another 500k shares avg around 03
I happen to know they are not and if you knew me you’d know I’m very skeptical but not so on this one
Can someone address this statement who has perhaps spoken with him?
I’m curious how it went from 11% to 77 in like 3 days. They must have been hiding their shorts in fails and then were forced to allocate them properly.
Jackpot just wondering what your perspective is on what Freethem says about PR on this.
Do you think they would extend the board if the ETF was cancelled? I dont
I don’t think swing traders made a killing it would have been very difficult to time the swings on this. I sold a position I had pretty much near the top today. Got lucky was able to buy it back cheap.
Does it close green?
Me three
Please explain
I’m adding here I think there is good support under .05
However there’s also a reverse head and shoulders at around .04.
Should get this stock on the wall street bets board
I think it would be healthy to simply go up a penny a day rather than a fast run
That would be great but what is that based on? That would put the value of the company at over 1 billion.