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The following is a story about horizontal drilling in Oklahoma. Seems kind of fitting to post here.
http://money.cnn.com/2008/10/07/smallbusiness/good_well_hunting.fsb/index.htm
I flipped during this whole mess and picked up another 5,000 shares. I would have done better, but I was away from the computer when it was around .20 and had to get them back at .25.
I hate seeing panic selling on one of my stocks, but at least this time I took advantage of it.
Nothing has really changed forward looking. If you bought for the future it will still be there. Remember, oil sold does not equal oil pumped. Months ago, many suspected the company would pump and hold some oil so as not to alert those around them while acquiring more leases. This is because oil production doesn't get reported until it is sold, not when it is pumped. I wouldn't be surprised if down the road we find out much more oil was pumped in this time period than we are guessing at.
Yeah, just the slightest buying pressure will push it right past .35. If we don't get the volume, they will probably walk us back to .30 & .32.
MM's definitely want to keep this down for some reason . . . wonder why?
Yes it is. All those interested in the chart, take a look at the 60 minute.
- Convergence of the moving averages around .29 & .30 about 2 hours ago
- MACD turned back up and is now above zero and climbing.
- RSI crossed 50 and is still climbing.
- CMF is positive again and clibming.
- Short AROON (12) crossed bullish.
Now we just need some more volume and we will fly. Volume is key!
This close would break the 4 month trendline. I'm getting excited again.
I am still here. I bought in at .06 and am just waiting for developments to happen. I figure it might take a while. We are sitting on pretty solid ground with the spread so wide.
I just bought 21,300 at .18 and they didn't post it. That is BS.
I have been watching the after hours form T trades pretty close. Yesterday's was a very odd number of shares: 31,000. Considering the previous low of around 90,000, if I remember correctly, that is very low. I wonder, and time will tell, if yesterdays was the end? To be selling normally 100,000 to 250,000 shares a day then all of a sudden 31,000? That doesn't make sense, IMO, unless it was spare change in the account to finish off selling the position.
His/Her/Their longest break from when this started was 3 days so if we don't see any Thursday or Friday, I would bet he/she/they are done.
AND THAT MY FRIENDS WOULD BE MOST AWESOME!
IMO, this selling from the beginning of May, emboldened the MM's to short more and move HMGP from a nice retrace level in the mid .40's to where we are and have been lately.
I believe, if this is stopped for good, HMGP will act like a stock that just had an end to dilution. HMGP WAS NOT SELLING INTO THE MARKET, but I think this large seller had the same effect. End of shares being sold means a prompt and aggressive price correction to it's correct market value. Up, Up, Up we go!
.20(T) 141,000 16:10:49
+
Zero ask support
+
Drop below 200 DMA panic selling
=
Bend over and take it.
Peter,
This has been going on since the beginning of May. Usually the buying support is there to soak most of it up, but not today.
Hopefully he/she/them is almost out of shares or takes a break soon.
Finally some confirmed good news!
I just got an email from my contact at WBR. He said:
"We were able to secure some time and space to have the HEMI (and others) segment taped with Norman Schwarzkopf serving as host, this week. Later this week I should get an update on preliminary air dates. I’ll keep you posted…"
This is good. This may air sooner than we last heard.
I agree that it will most likely hold support. HMGP has the fundamentals and the chart is starting to looked primed for a breakout, IMO.
I also agree that the best plays are those that have positives on both sides of the fence. Also, if the company has good fundamentals, I can trust the charts more and have the faith/patience to let the play develop as it should.
That .2357 105,000 15:37:08 trade looks suspiciously like our after hours form (T) trades.
Maybe they were/are trying to put it in during normal hours to throw us?
I hate to say this, but from a chart perspective, if we break below the 200 DMA(.22 or so), you will be able to to get those shares much lower than .18/.19. Whether you believe in charts is irrelevant because 1/2 of penny players do.
If you want this to recover this year you better hope this holds the line.
I'm sure the negative remarks don't help, but I think the PPS is more affected right now by this huge selling of shares that has been happening for almost 6 weeks.
There has been speculation in the past but some are choosing to pretend it isn't happening. It has been going on as form (T) trades for about 3-4 weeks now
I believe it is some large shareholder selling out. The MM's buy them up from the seller and post it after hours so everyone won't as easily see it going on. Then they can sell during the day and even build a little momentum upward(intraday) to increase the spread from what they buy them for(every time lower than the posted low of the day) and sell them somewhere higher.
My scenario might be a little off, but usually on the days they happen we are even or down so I take them for a bad thing. It could be the company selling, but in this case I think it is a large shareholder.
WEIRD!!!!!!
I got 3 after hours prints
The one you said then 2 additional for a total of 3:
.2577 (T) 105,000 16:15:40
.2577 (T) 105,000 16:17:49
.2577 (T) 37,000 16:17:59
You always beat me to posting!
Yeah, those will be the really good times. I was pretty happy when it was sitting at .70. My accounts all looked really good then.
I will agree this is a good time to buy, but it is hard to convince some people to buy when there is some serious long term selling going on. When that ends we should pop though.
How about they don't? I actually would like it to go . . . UP.
. . . You know, the direction where we make money. Yeah . . .
Here is my daily bad news on the Form T trade . . .
.2553 (T) 65,000 16:02:38
EDIT: Zguy beat me too it. Congrats!
I see what zguy saw . . . .2626.
Yeah, pretty good day today . . .
Would have been better if this wouldn't have happened!
16:08:22 .2626 (T) 190,000
When will it stop??? Driving me crazy!!! ;)
Which ones? The ones at the bid or the ones at the ask?
I don't know whether to laugh or cry! Great PR and almost no movement. Oh well, just another day in HMGP. Last good PR pushed us down so this is okay I think.
I'm not sure what you mean, but as a little background. We have been having after hours form T trades in large numbers for about 2 1/2 weeks.
The first batch stopped for 2 days, then resumed. They stopped again, I think, Wednesday of last week, and appear to be resumed again today.
I don't really KNOW what they mean, there has been some discussion about it for a while. The following are ideas others have had about them:
- It is a large holder selling behind the scenes to the MM's.
- It is the MM's buying shares to cover the cert requests some are doing.
- It is a large holder selling on the market bought buy MM's to cover NSS.
Anyway, I don't really know, but like I said, they are usually associated with bearish days.
IT'S BACK!!!!!
We had an after hours (T) trade of 140,000 @ .25 at 16:05:40
It looks like instead of 2 days off, he/she/it went with 3 days off.
I'm still not sure what it means, all I know is on the days we have them we are usually down so I don't like them.
.21, here we come . . . I guess we can all lower our averages.
I'll take a stab . . .
.08
They are feeling so generous today Jagman. It must be Christmas in MMville. HAHA! All those lucky people getting their buys at the bid. :)
Thank you, that sounds like a possible explanation. I guess we won't know for sure, but it is nice to have another alternative.
Are you kidding me?
You said the MM's were playing games. I challenge you to tell me how they are at it again and you ask if I am one of them. That is childish and silly.
Yes, the MM's don't want it to go up. I agree, but I don't think in THIS CASE, WHEN YOU SAID THEY WERE AT IT AGAIN THAT IT WAS MANIPULATION, just some selling.
I am not panicking, just sick of people blaming the MM's EVERY TIME SOMEONE SELLS THEIR POSITIONS IN A STOCK AND THE PRICE GOES DOWN!
I am holding my shares for now as well, every stock goes up and down and every investor has his way of investing. None of that is at issue here.
He didn't manipulate, someone was selling so he lowered the bid. That is supply and demand. Just now some buying came in, 15,500 at the ask and viola . . . the bid moves from .28 to .29. A couple more at the ask and the bid will be back up.
NITE does manipulate. I have seen him do it over and over and over. But, in this case, I don't believe he is manipulating, he is just following the laws of economics, not playing games.
Remember also that NITE acts as the MM for some brokerages and it could be retail buyers and sellers moving it around as well.
What do I know though? I'm a computer guy not a trader.
He might be . . .
He started selling in my opinion around May 6 and sold pretty consistently taking a break on May 22 and 23. After that he started selling again until June 4 and hasn't been back since then.
In my eyes, he sells for 10 days then takes 2 days to go spend his money. Then he come and sells for 10 more. Maybe he is done spending it this time and back to sell more.
IMHO, I don't think it is him, the volume is to low for it to be him. I think it is someone that bought at .21-.24 selling for a nice gain. Good for him. They are going to miss out on more, but there is no such thing as a bad gain.
I see:
Sells
4,000 .31 @ 11:01
10,000 .31 @ 11:02
I think your? buys at .32 totaling 23,000 maybe 29,000?
Then:
5,000 .29 @ 11:47
10,000 .29 @ 11:48
3,600 .291 @ 11:48
10,000 .29 @ 11:48
5,000 .29 @ 11:49
10,100 .29 @ 11:49
5,000 .29 @ 12:13
Those buys at .32 aren't what I am talking about. It is the first at the bid at .31 then the rest around .29. I am not panicking or anything. Someone said the MM's were playing games or at it again. I am just wondering what "GAMES" the MM's are playing when someone sells 40,000ish at the bid.
MM2B, I'm still waiting for an explanation of what the MM's are at?
I've seen the 500 signal a gap and a direction, but not in the middle of the session. The times I've seen a 500 trade appear to mean a gap is in the last 5-10 minutes of the day signaling the gap the next morning.
Please explain to me what is going on. If it is NOT someone dumping 50,000 shares, 1/2 the volume of the day, what is it? I must be a newer one, what are they doing that is so crafty?
The MM's aren't at it, someone sold 50,000+ shares in the last 20 minutes. They lower the price because there is a lot of selling pressure with only 500/1000 shares buys to counter those 10,000/15,000 share sells.
The problem with AB is that the prices they post for buys and sells you can't match. In HMGP's case, if you followed them exactly, instead of 1411% you would probably barely break 1000%. I have watched them some in the past and because it is pure candlesticks, they make a lot of obvious mistakes a normal trader would not by following pSAR's, MACD, RSI, volume, moving averages, CMF, and other indicators.
My mistake this last time is that I gambled instead of reading the writing on the wall. I thought we had a little resistance at .27/.28 then the next one at .33/.34. I thought we would turn back down there because of a hunch, not the chart. The chart said hold and I was stupid and didn't listen.
Breaking .33/.34 IMHO is the test of a true long term trend reversal. We need that to break our slide the last 3 months. If we don't get it this time, we will eventually.
Nah, this is only in my IRA and ROTH IRA and not in my cash account that I am talking about. I don't have to worry about taxes on those.
You are correct in principle though!
It is a dangerous strategy. I flipped this 4 times since my first hold buy at .04. Twice it has worked well, once I had no change, and this time I lost. For me, I have broken about even overall trying to flip.
Yeah, I believe that HMGP will still be worth it.
All my money and original shares were had at .04 so a little loss from .27 to .30 is still worth it. Really I am just loosing shares that I had made on previous flips so I can't really complain. I will be around for the long haul.
I don't have a dog in the fight as it were, but I have been watching this forum for a while.
Since capted starting being positive on this stock it has gone down so if his purpose was to talk it up and sell into upward movement it failed. What he has said seems consistent to me. They found real stuff. The captain of the boat is a dork. They need to hire experts to get the stuff. They need to do it the right way. etc.
. . . They didn't hire experts . . . they didn't do it the right way . . . the captain of the boat is still a dork.