I've been reading about the Diamond Top Formation. Since it's a rare kind of chart pattern that I don't see very often I'm not as familiar with it as I'd like to be so, last night and this morning, I've found time to do some research. It seems, according to most of the people who have written about it that "when a diamond forms at a top, the following down move is usually significant". So, it's possible that my prediction of a price drop to $0.0016 was not far enough. Don't panic! I said possible. So, I'm going to go out on a limb here and say that IF - IF, now mind you, the market does not find support at the 200 day SMA, then I believe it would be probably that the price could fall into the triple zero (that;s 0.000) figures for at least a brief period of time until it is again able to rise and support at 0.001 to build a bass for a new rally back to test the $0.005 price level.
PINK Sheet stocks are known for wide price swings and none of these stocks are immune to them because of a lack of solid fundamental information about the stocks. Simply building a tractor, setting up sales locations and hiring sales people and arranging for shipping and receiving points are all activities that fall into the OVERHEAD category and which will cost the company rather then contribute immediately to increasing the bottom line. So, until a company produces its first quarterly report showing a positive earnings per share number, it will continue to be subject to wide price swings. Those are just the facts about the vast majority of PINK Sheet stocks.
IF you are going to trade in the PINK, you need to get into the habit of taking profits when they present themselves. IF you believe in a stock like TYTN for the long term and want to accumulate it, then the smart thing to do, is to sell at least half of your shares every time the market shows signs of turning around. There have certainly been a lot of those kind of signs in this market recently. So, don't be surprised if the price drops to the triple zero prices and also be ready to add to your position at the 200 Day SMA if it does not drop that low. As Will Rogers once said when he was asked for his views on the stock market ... "I think you should take all your money and invest it in some good stock. When it goes up, sell it. If it doesn't go up, don't buy it!"
My personal preference would be to buy a couple of million shares of TYTN at $0.0008 rather than be forced to pay $0.0016 for it. You know what I mean?
AI
