Friday, March 18, 2016 9:47:13 PM
After viewing this very rudimentary chart, I have a question and some comments beneath it:
Back on January 7th, SDOC gapped DOWN from .15/share and opened at .10/share.
That very session, the shares sold alllllllll the way down to the .03 level (maybe the .027's if memory serves me correctly)
Volume on that day was a staggering 161,559,700 shares
The following day , the shares opened at .03 and hit a high of .08 on volume of 135,324,600 shares
For a period of WEEKS, the shares traded between the .03 and .06/share on TOTAL volume equivalent of the Jan 7th and 8th sessions.
https://beta.finance.yahoo.com/quote/SDOC/history?period1=1451620800&period2=1458350616&interval=1d
This would indicate the sideways churn/accumulation during this consolidation period. Some "investors/traders" were comfortable taking profits of 100% at the .06 - .07 ranges
That's great.
Good for them, right?
100% is 100%
I was in accumulation mode during this period of time, loading in the .04's and .05's and didn't scalp a share. I build a sizeable position of several hundred thousand shares at this core average.
On 3/4/16 the PPS broke out of it's usual sideways consolidation pattern with an OPEN/HI/LOW/CLOSE of .05/.07/.05/.07 respectively and on 3/7/16 we hit a high of .15/share and closed at .14
The following day (3/8/16) we again hit a high of .15/share on volume of 53,667,900 shares
The following day (3/9/16) we re-tested the .15 area of resistance and FAILED to breach it.
When that occurred, it was a clear sign to SELL the shares.
You can clearly see the resistance in the white and red candle located directly above the blue 50 period MA line on the chart above.
That's when I began distributing my shares in small tranches down to the mid .13's while holding a fair portion of my core .04-.05 shares.
If one feels (gut or otherwise) that a stock is going to go DOWN substantially, why not sell it - book the gains, then re-purchase lower?
As the PPS began to reverse and trend down to the 13 EMA line, my goal was to purchase as close to that moving avg as possible.
And so I did.
Unlike most here, I post ALL my exits and re-entries in REAL TIME.
Two sessions ago, when the PPS popped once again (on seemingly great news that SDOC made their interest payments) to the .15 area but FAILED to breach resistance, we had a short term DOUBLE TOP (as clearly evidenced on the chart). When the breach failed, that was a clear sign to SELL.
Now that the shares are retracing back down to the 13 period exponential moving average at .09/share, it's a prudent move (if you are RE-ENTERING the shares after taking profits twice) to re-enter as close to .09/share as possible.
So that's what I'm in the process of doing.
I purchased shares today at .1001 only to see the stock trade down further to .095
Will SDOC trade BELOW the 13ema?
Sure, why not.
It has in the past (see chart) but usually only mildly below it, and usually only for a few sessions.
Right now the 13ema is the line to watch as a true level of SUPPORT.
Will I add more if it breaches below the 13ema?
Yes
Why?
Because I don't believe SandRidge Energy is going to file Bankruptcy in such a manner leaving shareholders completely insolvent.
Their credit rating as been INCREASED from a D to a CCC and even the reporting bureaus say the company can remain solvent for at least another 6 months.
SandRidge is NOT a play on higher oil prices. A week or two of higher oil prices, isn't going to save the company. Patient Bondholders are what's going to save the company.
I could go on and on with what SandRidge is doing from a FUNDAMENTAL basis to cut costs and weather the storm, but no one here really cares- as it's just my subjective opinion.
I'm holding core shares with a mid .04 average and have been BOOKING GAINS on the rips to .14 and re-buying the shares on the dips to the .10's .09's .08's and .07's
At some point in time, I wont be able to do this anymore - and I pray it's because the PPS has taken off to the upside and long gone are the single cent buy op's
I wish everyone here good luck, and only ask for all the lies and manipulation type posts to stop.
Back on January 7th, SDOC gapped DOWN from .15/share and opened at .10/share.
That very session, the shares sold alllllllll the way down to the .03 level (maybe the .027's if memory serves me correctly)
Volume on that day was a staggering 161,559,700 shares
The following day , the shares opened at .03 and hit a high of .08 on volume of 135,324,600 shares
For a period of WEEKS, the shares traded between the .03 and .06/share on TOTAL volume equivalent of the Jan 7th and 8th sessions.
https://beta.finance.yahoo.com/quote/SDOC/history?period1=1451620800&period2=1458350616&interval=1d
This would indicate the sideways churn/accumulation during this consolidation period. Some "investors/traders" were comfortable taking profits of 100% at the .06 - .07 ranges
That's great.
Good for them, right?
100% is 100%
I was in accumulation mode during this period of time, loading in the .04's and .05's and didn't scalp a share. I build a sizeable position of several hundred thousand shares at this core average.
On 3/4/16 the PPS broke out of it's usual sideways consolidation pattern with an OPEN/HI/LOW/CLOSE of .05/.07/.05/.07 respectively and on 3/7/16 we hit a high of .15/share and closed at .14
The following day (3/8/16) we again hit a high of .15/share on volume of 53,667,900 shares
The following day (3/9/16) we re-tested the .15 area of resistance and FAILED to breach it.
When that occurred, it was a clear sign to SELL the shares.
You can clearly see the resistance in the white and red candle located directly above the blue 50 period MA line on the chart above.
That's when I began distributing my shares in small tranches down to the mid .13's while holding a fair portion of my core .04-.05 shares.
If one feels (gut or otherwise) that a stock is going to go DOWN substantially, why not sell it - book the gains, then re-purchase lower?
As the PPS began to reverse and trend down to the 13 EMA line, my goal was to purchase as close to that moving avg as possible.
And so I did.
Unlike most here, I post ALL my exits and re-entries in REAL TIME.
Two sessions ago, when the PPS popped once again (on seemingly great news that SDOC made their interest payments) to the .15 area but FAILED to breach resistance, we had a short term DOUBLE TOP (as clearly evidenced on the chart). When the breach failed, that was a clear sign to SELL.
Now that the shares are retracing back down to the 13 period exponential moving average at .09/share, it's a prudent move (if you are RE-ENTERING the shares after taking profits twice) to re-enter as close to .09/share as possible.
So that's what I'm in the process of doing.
I purchased shares today at .1001 only to see the stock trade down further to .095
Will SDOC trade BELOW the 13ema?
Sure, why not.
It has in the past (see chart) but usually only mildly below it, and usually only for a few sessions.
Right now the 13ema is the line to watch as a true level of SUPPORT.
Will I add more if it breaches below the 13ema?
Yes
Why?
Because I don't believe SandRidge Energy is going to file Bankruptcy in such a manner leaving shareholders completely insolvent.
Their credit rating as been INCREASED from a D to a CCC and even the reporting bureaus say the company can remain solvent for at least another 6 months.
SandRidge is NOT a play on higher oil prices. A week or two of higher oil prices, isn't going to save the company. Patient Bondholders are what's going to save the company.
I could go on and on with what SandRidge is doing from a FUNDAMENTAL basis to cut costs and weather the storm, but no one here really cares- as it's just my subjective opinion.
I'm holding core shares with a mid .04 average and have been BOOKING GAINS on the rips to .14 and re-buying the shares on the dips to the .10's .09's .08's and .07's
At some point in time, I wont be able to do this anymore - and I pray it's because the PPS has taken off to the upside and long gone are the single cent buy op's
I wish everyone here good luck, and only ask for all the lies and manipulation type posts to stop.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
