macdrsirules...Of course you have very valid...
Points to bring to this discussion...Charts and T/A are only ONE small part of the Overall picture...They basically show where the pps has "Been", but can also show where they may "GO"...
The charts do not move themselves...It takes outside influences like: The basic Fundamentals of the Company and traders 'sentiment' of such...PR's either positive or negative, MM Manipulation either positive or negative, etc...
Unfortunately on the Pink Sheets, the MM's are so much in control, I believe that they can actually "paint" the charts on an ongoing basis for all T/A people to see...
A prime example of this is PBLS...I believe the MM's painted the chart in the last two months to look like a descending triangle...They knew that when the pps broke below .025 the last time it was there, that a lot of people would be afraid that it would fall to almost a penny, and sell...
Then they could finish covering their shorts from the last run up at a lower pps, or finish buying in preparation for the next run up, which they now know is inevitable...
I believe they accomplished a bit of both during this week, as it is they who are now scared the pps will take off too fast, and they will lose control and be forced to sell short into the next rally to create needed shares...
This could be disasterous for them, as they may not get another chance to buy to cover these shorts at a lower price ever again...
The reason the pps never made it to a penny is because of the PR that came out on Tuesday, that brought many more buyers in, which kept a serious pullback from happening...
That is the reason for the Company's current strategy by removing around 100MM shares from the Market...I think it is safe to say that we all understand the logic behind the buyback...
But mac, I believe your statement that T/A and chart analysis does not work on OTC stocks always has an exception or two...Just ask one of our newest posters here called monkeybiz about how I and one other skilled chartist called almost every move it made for over 8 months in advance...The stock was CPTC, and I'm sure that if you ask him, he will agree that this actually happened...
We were able to do this because the stock moved on it's own merits, and as far as I can tell, was never a target of MM manipulation on the scale that PBLS appears to be...
That is why this Company must get it's act together ASAP, and move off the Pink Sheets as soon as humanly possible...IMO
Everyone here has done their DD, and we all share it, and know the awesome potential of this Company...I think it is a Crime that the MM's get away with the amount of manipulation that they do with this stocks SP...
If we are Patient, the Company has a plan in motion to stop this from happening, and hopefully keep this from happening ever again...I have Faith in the Company, and will keep that Faith, until I see something that makes me Lose it...
