I agree, Chuck. There's still potential to make some big money, but not huge money with this company. I decided to sell my position this morning at a very small loss. The capital preservation you mentioned is definitely more important than anything else because that is the test of guts. It's kinda like when good logic meets good intuition. With the way the chart is looking, the lack of volume, emotion, and solid news, I didn't feel like waiting for 0.013 to come around. This will steadily go down until emotion strikes in my opinion.
I agree that 0.016 was a major support, but I'll even be graceful and say 0.015 based on the Bollinger band. However, the 0.013 support point is already being threatened despite the one trade today that one person made for 1 million shares. I believe that the 'powers that be' won't turn the switch back on until it hovers around the 0.01 range. Time will tell.
I'm not sure what you mean by (true value) being 0.016. Considering there are no dividends available, the only two factors to work with are the market cap (approx. 3 mil.)and the shares outstanding (approx. 500 mil.) which calculates to roughly $.007. That seems accurate to me, and I'd like to use it a reference point as an 'alleged' bottom.
I don't know, Chuck. I must admit that I like CDNL. The way I see it, they will be around for a while, and will continue to grow at a slow pace. I don't think it will ever become a major corporation, but I do see slow, long term growth. That being said, I can see this being a long term flipper with emotion striking from time to time. I think some decent cash could be made as long as emotions are monitored as well as good TA.
In the meantime, I'll be spending some time today horsing around with the FINVIZ website you told me about. I think I'm getting a handle on how chart analysis works, so doing some research on FINVIZ is appropriate. I'd like to start contributing more to your page rather than being a taker, so to speak.
