Kentucky Energy (fka QMIN)

[KingofPennies]

As I have posted, QMNM is still hunting for .0006 That will complete the double bottom. The current ADX indicators show heavy downward pressure as the -DI is way above the +DI. That tells me we have many more longs that will soon bail. We saw that on Friday as the kool-aid is starting to wear off. Some others will start to wake up soon, too, and jump ship.

With no production, all this is for now is a CEO that is more than happy to keep issuing himself hundreds of millions of shares and dump them on the public market. And when the well runs dry, there will be a R/S. Plus, with time running out on QMNM to prove to the court system that the BK plan should be extended, there's a major league question mark if this company will even get to the point where they are pulling the coal out of the mine. The court system may force Eugene to throw in the towel and put an end to his stock printing machine.

Personally, I can see this all folding and going belly up. What good does it do to allow Eugene to keep living high on the hog at the expense of the shareholders? He has been playing this same game on people for well over 20 years and it appears the time he spent in prison did nothing to turn him around. It was just a couple of years ago when he played everyone on HVYW and there are no indications at this point that QMNM is any different.

At the current levels, QMNM has a lot more down side to come.