Top Ships Inc (TOPS)

[LiveLife]

Quote by Kabuli - "This company has nothing to do with Global economics until they get the money they want. It will pop once Pistiolis announces he is done with offerings, But until then it remains volatile and risky for the novice trader like me and some others, while a good money maker for the experienced trader."

I have a question.

So if TOPS is in "Dilution" mode and other shipping stocks are not, then on Friday, why did various shipping stocks trade similarly -
Popping pre-market, gradually falling intraday but still closing green (with exception of RLOG/SHIP)?

The stocks are DCIX, TOPS, DRYS, SHIP, GLBS, RLOG.

Keep in mind that often penny stocks move independent of company fundamentals and chart trends.

Are penny stocks manipulated? Yes.

Do longs/shorts post to benefit their positions? Yes.

Do longs looking to buy post negatively to push the price down? Perhaps. < Wink >

Since many are shorting TOPS, will they post negatively to benefit their short positions? Perhaps. < Wink >

I am just a technical swing trader who trades according to share price movement while looking at different indicators. I am far from 100% on my trades and sometimes wrong on my trade predictions. But things I have noticed over the decades are when the board discussion turns mostly negative with talks of everyone bailing, it's usually the time to buy. When everyone is euphoric talking of going to the moon, that's usually time to sell.

Once the longs are done accumulating their shares and shorts cover their positions (and go long), you will know by posts turning from mostly negative to mostly positive. < smile >

I bought at $.31 and time will tell what will happen to shipping stocks on Monday pre-market and market open. If TOPS pop next week, I will take profit. If TOPS falls, I will sell and wait for another entry point. I don't dictate the share price but trade accordingly as indicated on my watch list - https://stocktradingmodel.wordpress.com/2015/05/17/hello-world/

GLTA