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CEMJQ Santa, You're a few days late! But I forgive you :P. Happy New Year already...Cheers.
You're right, dilution wouldn't effect PPS immediately, but following the laws of supply and demand...A larger supply of shares without an equal increase of demand for those shares makes each share worth less, and PPS "usually" will end up reflecting this.
No offense, but your math is off just a bit...50mil shares would have been 25,000 bucks, and if I was gutsy enough to buy and lucky enough to sell that many shares in one day, it would have been a 5000 dollar profit! I said I made a grand before commission, (10 million shares to be exact). you can believe it or not, my whole point was to show how day trading is a lot easier and more attractive when a stock is trading the way this one is. High volume and huge % changes with every tick. What do you think the MMs are doing? Same thing but in reverse and not legal since it's an OTC(sell at .0006 and cover at .0005). I mostly invest in the large caps so this is quite common, and the daily short interest in any stock is readily available...I'm currently holding a short position in B of A and Citi (BAC, C) at the moment. that's where I'll move 25 thousand around...Not here!
WOW, If that volume is from MMs, not too bad...If it's dilution, RUN, JMHO. I got a buck for the first person who can figure that one out :-/.
Yes, watch for confirmation tomorrow...If it opens at .0005 with selling volume and drops to .0004, you can be sure of manipulation. (After market orders are not allowed on OTC stocks)...There's always some last minute EOD order filling, but not half a days trading volume! Let's see how tomorrow plays out.
LOL...It's not as complicated as it seems...If you plan on selling, it only makes sense to make one larger purchase (I used a million shares as a round example). 1 buy and 5 sales is 6 trades, or 60 bucks commission with E-Trade. Now a move from .0005 to .0006 is a 20% gain. $60 bucks is a drop in the bucket on a 20% gain on my investment. If I bought 50 bucks worth of stock, then yes, it would be a dumb move, but I bought 100 times that (if your curious), so commission wasn't a big deal.
.0005 close...Someone made out between the .0004 and .0005 range...Huge buy and huge sell near E.O.D. Hopefully it will be back in the 5-6 range tomorrow, and not in the 4-5 range.
Yup...And I've definitely had bad timing, I think anyone who trades can confess to that. 100 million shares since my last post...volume is hard to predict...
Haha, I wish...If I had that power I would be wealthy and retired by now. Don't know why your order or other peoples order wasn't filled, maybe it was the timing or the amount being sold- no clue...I sold small blocks in a day, that's all. if you put 10 million shares all in one block at the ask, you're probably not going to sell unless there's a lot of buying pressure and or a big buyer out there. If there's a million shares for sale and a buyer wants a million shares at your selling price, that order is going to get filled before someone who is selling 10 million shares when only 1 million are wanted...Somewhat common sense...but yeah, no idea why the trade didn't go through for you. Perhaps I got lucky, but I doubt it.
Yes, that's the general idea, but if you look at the L11, no one would be alone at the .0005 or .0006 level all day...approximately 200mil shares have been traded between the .0004 and .0006 level today already. If I bought say 5 million shares, then turned around and sold five million shares the same day, which would equal 10 million shares, that's only 5% of total volume...And of course it wouldn't be sold in one giant block. Perhaps 5 million shares spread over 5-1 million share blocks (for example)...Now you have 5 orders on the ask...Each day trader has their own personal strategy...I'm generally not an active day trader, but I know how it can be done, and the high volume tight range trading suggests to me that it's going on quite a bit here. If you're long and have done your research, it won't effect you at all...No MM can stop a bullish stock, and why would they want to? They make money off of it to! The fact is the long-range charts show that were in fact not in a bullish trend, but are rather treading water if you will...If there's great potential here for the company, then just be patient and don't watch the day to day movements or it will get frustrating as hell with the volatility.
If you believe it's being highly manipulated by MMs, (I haven't followed the stock enough to say otherwise), watch the pre-market and first 30 min or so of trading. If trading is going on Pre-market, then the stock opens and or drops consistently in the very beginning of the day, then you can be sure that the MMs are being active or underhanded (pick you term). We can't buy this stock pre-market--a big sign--and if the price pops a little in the very beginning, people often jump on the wagon and that's when MMs pull the trigger causing a stock to plummet early on...but if this is the case, you'll see a correction fairly quickly and the PPs will pop back up (accumulation by everyone including MMs)...That's the easiest way to follow any MM manipulation. This applies to an average trading day (no good or bad news). Hope that makes sense.
And yes it can be done, I flipped in the .0005, to .0006 range twice last week. I'm on the sidelines watching at the moment...Looking to take a long position but I'm not going to gamble with that until I know more about the Company, Share structure etc etc.
I'm sure I'll get slammed for this being my first post, but, if it hasn't been mentioned already, take a good look at what's most likely going on...A sub-penny stock, pretty high trading volume, tight trading range, and large % changes within this range...It's the perfect day-trading stock! Blame the shorts or MMs all you want, but from my trading experience, day-traders have a lot of control over the price. It's only common sense...If I buy 5 grand worth at .0005, then sell at .0006, then I just made a thousand bucks (I've did this a couple times last week). If you're a pattern day-trader, you can do this numerous times; if you're really good at it, you can do it confidently with much more than 5 grand. The high volume of buys and sells within the .0001 range is evidence of this...I missed a buy at .0004 ...The biggest risk is if the stock plummets..."If", or for those holding long "when," news comes out or PPS pops, the day traders will simply hold and go for the ride.
I'm not bashing the stock at all, to be honest I know very little about the company other than what I've scraped out of their PRs and a few comments on this board. I have quite a bit of market experience, however, so it makes perfect sense when you look closely at the LII movements and intraday charts that a lot of day trading is going on. MMs certainly have their influence, but more often then not, people like to blame MM shorting in penny or sub-penny stocks as the culprit for the PPS not rising, when it's probably traders buying and selling back and forth. Some people make a living this way . Cheers, GLTA.
"unimpressive" ...Give it some time, always low trading volume market wide this week and next. Paint it green, I'll take that!
Cute stock...Irrelevant. Not related to CEMJQ or it's shares...bump.
30 Min EOD action...Let's see if she wakes up .
I don't think retail would pose much of a hindrance if they were buying and selling--and they always are--but with news like this, a smart retail investor will hold for more than a quick flip knowing that 10% is nothing compared to short term potential...Although I do wish they would have announced this on Monday :P
Very nice to watch indeed. The best company news has come out since the post-bk highs and we are still trading well below that level, which tells there's a strong upside in the short term and of course a potentially much larger one in the long run. GLTA
And tomorrow is a half-day for the OTC stocks too right?
Yeah I wasn't planning on following it today until I got the news notification on my phone...Kinda changed last minute shopping plans haha.
Ya I think it will really heat up by EOD. This should generate more than a few percentage points here...Been waiting to see this news for a long time now.
This is a ride I haven't been on in a while...MMs can't seem to fill orders fast enough LOL.
That would be fantastic! Hope people didn't turn off their trading ears too early this season...This type of news should bring volume into the millions, once people find it IMO
Well hopefully the money will continue to flow...For all our positions. A side note...I hope you follow LII quotes and closely monotor the intraday volume and moving averages, They're crucial for helping time the market. Well off to enjoy my Friday, hopefully we'll hold strong above a dollar, and maybe see an EOD run. Cheers
I agree, the last major run had motivation behind it, but it broke way outside of technical logic and ran up out of control (a nice thing), but...It made the correction abrupt and dramatic (snapped back the average 50% very quickly) then slowly trickled lower until recently. This rally hasn't been as long lasting and is, as you stated, backed by a lot more fundamentals...
Congrats on that...And there's nothing wrong with daytrading at all. If the market could be timed perfectly, everyone would do it, it only makes sense. What I hate is naked short selling--you can bet that morning cliff dive was some of this--but only nite and other MMs can pull of this dirty little trick. I'm not an avid day trader (especially in OTC stocks), but have been trading long enough to catch the patterns. Shorting Citigroup after Bank of America announced their TARP repayment was almost a no brainer...Fincancials stabalized this morning so I covered for a nice gain. Outside of today's pattern, this stock has been way too unpredictable for me to even consider daytrading it. I'll take a little profit on some weeks then add on low days (bought a huge block in the mid-.60s), but that's about it. My position is long and bullish.
I've been watching the intraday as well. The pattern does look quite similar, though some things are missing...Namely volume. We're trading on low volume so far today, while that Friday was a pretty heavy sell-off. Support is setting up nicely as well...I'm still leading towards a daytrading Friday: The peaks and valleys are almost textbook IMO.
I think it's daytraders having a ball with the stock today...the morning sell (selling), fast rise (buying), drop back (selling), now seems to be starting to rise again ...Not fun to watch, but if you're a daytrader, this stock is paradise today...We've hit daily bottom, let's see where she closes.
Time for the afternoon swing! Let's see that chart painted green! lol.
Agreed...Well put...I too liked the tone of the PR. First time I've seen Rogerson break out the pom poms, which makes it very believable and good news to me...to many pumping stocks release weekly PRs just to say how great their company is...Not the case here; no fluff in my interpretation at all.
Someone has probably answered this already, but I will just in case. Share dilution is simply adding more shares outstanding. It doesn't effect your personal share holdings, that would be only during a forward or reverse split of shares. If they do an equity swap/share dilution, X ammount of shares would be issued at X price into the market. The negative side is the more shares out there, the less value per share...The positive side, it would be paying off important debt, which I think is fine. As to how many shares or when this could happen, I have no idea. They plan on exiting Ch-11 by Summer 2010 according to yesterdays PR, so part of their plan, if indeed this is what they plan, would be to present to the courts and publically announce a share offering. I think this would have to be part of the POR, but not exactly sure...Either way if you follow the court docs and news, you'll be well informed ahead of time. For an example of what is meant by an equity swap, Bank of America (BAC), and Citigroup (C), are perfect examples of this. BAC did about a 12% share dilution recently in order to raise funds to pay back TARP...Citigroup is doing the same thing. Hope that helps.
In my opinion, I interpret this to mean that the commons will remain intact but with dilution...This isn't definite of course, but the wording, as I see it, points directly to this...And as the rest of the report glows positive, share dilution wouldn't be a bad thing necessarily, especially since the share price will likely be much higher than it is currently by the time an equity swap would be undertaken...With the PR and nice uptrend, I can see Post-Bk highs being retested shortly. Things are looking really good!
Slowly pushing away at that resistance...a little increased volume should due the trick
Yeah, oddly the volume isn't quite out of the gates and running...or even walking thus far...on the plus, the normal morning drop off seems to be absent (at least as I write this)...I'm flipping screens back and forth from this one to my large caps...My large caps financials are having a great day...I'm ready for a second green day here, bringing more confidence that we are beginning an upward trend and yesterdays gain wasn't just a correction from the big sell-off on Monday...GLTA
Same here, the hourly chart was about extremely bullish going into EOD...I have a feeling we'll see a nice bounce and reversal from here, heavy volume as well.
It's been retail most of the way in my opinion...There's more activity revolving the ch-11 precedings than most people understand or care to read about, and nothing major has perked attention as of late...Many people are probably getting impatient as they see large caps with double-digit gain possibilities every day (shorting or holding long)...But as the others have mentioned, as far as the public information has been given, there hasn't been any dramatic change to warrant such a plummet in share price in my opinion.
No, I took a small profit over a year ago on this stock and moved on...From the looks of things, I made a good choice...GLTU.
I agree, but definitely on my watch list. While the debt is extensive, their shares outstanding is still quite low--relatively speaking--and they are aggressively seeking financing, business expansions and sales of their main patent technologies. I particularly like the recent news listing about the initial testing agreement with China...With the exponentially growing energy demands in China, there's a lot of potential money to be made if things go in their favor...Plus I think they're an excellent candidate for a buyout from a larger energy company. A large and profitable Energy company would seem to benefit greatly IMO off of the research and technology that Evergreen has. Keep a close eye on this one, for if/when they make a deal expanding their business and or merge with a larger company, the PPS is going to fly...Hopefully this will happen soon, or their PPS climbs above a buck soon so they don't get unlisted from the NYSE.
Bravo! Great job once again .
Nice block going through, bringing us back in green territory.
LOL...I have to repeat humourously to this one (as others have as well)...CIT files CH-11? No way! I'm glad CEMJQ's DIP financing is through CITIGROUP...A slight difference? Um, yeah, Citi's got a few more assets and government involvement :P.