MUST READ analysis on L2 of NECA---this is the Frank reality of MM's covering their naked shorts and shorts the past three days and bringing down the pps of NECA. Lets see how many naked shorts and shorts the MM's on the ask have left. I'm calculating about 10mil shares left that they need to dump. They have already dumped 10 mil over a three day period of t-trades. I'm sure they aren't too happy about that. Then again nobody asked them to take such a position and perhaps they disappear for a bit.
So what can one expect??? If its not a mega buyer in play scoping up all of these shares before news hits and it truly is massive MM dumping and covering (likely) - That could potential drop the stock price down to .0014 or .0015 if the buying power doesn't continue to create serious pressure on the MM's. However, just as quickly- buying pressure could force the MM's to leave the ask and hit the bid to buy more to cover raising price. . Yay! Then again- this is normal ebb and flow and its great to see the power of this stock in play to hold off those huge suspected trades.
Clearly - these dumps at T-trade are being orchestrated and even though its clear many people are interested in this stock as undervalued as it is- its hard when you're up against paid bashers and huge naked short positions. They have noticed the charts and are finding it tougher to depress the stock to dump the shares and cover easier. Clearly they see the wave about to pop and need out before it occurs.
This is why the chart appear ripe for the extended wave 3 and we may not actually being the significant wave upward until late next week- mid_November. That's in 5-7 trading sessions.
How could this change- 1- good news comes out or really any decent PR. Wouldn't that be great. The MM's would be stuck shorting and then bidding and it would dramatically increase the wave 3.
2- buying power increases and the MM's dump and run.
Regardless- the stock should have gone to .0017 today but we enduring significant buying pressure creatin a shock to the MM's and a huge 6.2 mil T-trade attempting to mask the huge dump.
Of course- it could also be signaling an insider or huge buyer!! That would be the greatest reality for the pps in near term.
With that being said, my opinion is this- we see .0014-.0015 at it worse eventually all dumped as I expect about 10 mil to be in hand currently.
If the buyers who believe in this stock continue to purchase- we can run most of those shares by Friday. , maybe we will see .0017-.0018 at worse again before the dramatic upticks! The higher we sit before the wave- likely the higher we go. Point of reference last time the Mm's made this mistake - we hit .0013 and it went close to .01 almost quicker.. It hovered around .006 for a few before falling again without news or any developments announced.
BTW- come on Canouse and NECA- communicate and release press to right your ship here for yourself! Haha oh the bleary and fun of investing.
If we see any major PR come out, as has been speculated here for a week or two now- we will force the MM's into selling short and buying to cover etc and BOOM the stock recovers and corrects very quick and up she goes. And when I mean up- I mean way up!
I look at worst case scenario in my opinions here so- based on the three large t-trades the last few days - it's likely the MM's are shorting and diluting. They are probably disturbed that some of you continue to buy despite their efforts. Credit to you. They like a Good challenge. Not all the time though- buyers efforts here has relatively succeeded in scaring off the MM's from these significant positions the next time around.
For now- it appears we may be stuck fighting them off for a few more days - unless new sor buying power stays strong. Worst case- .0014-.0015 for a day and at the very bottom of wave 2. Then a day of hammered out or slight uptick followed by a week of slow but slight upticks. Then explosion into a very extended wave 2.
All of these opinions are predicated on no news in the next week or two. If we do get any PR- we might see a huge uptick start by Monday of next week. That's what makes this exciting.
I don't give any stock advice bUT- make your own prudent decision....would you ever sell something at its all time low? Never. Patience is a virtue. We could never defeat a powerful MM nor try at this point. They have to cover or go on ask if the buying power advances or if goodPr comes out. So they must know something and are dumping real quick. They probably have to dump all by Friday.
Does this sound fair? Yes. It's the operations of the market. A true investor can see this ebb and flow and will stay strong during this time and thank those who told them to hold or even buy more real low as a hedge against their current positions.
Regardless- things are set up amazing ly well in relatively short order. I predict that by 9 days time- we will be comfortably over the .003 mark knocking on the .004's. we see significantly thin L2 after NITE or VNDM. They have been forced to shelter 10 mil in dumps the past three days. They must cover so its clear we are in for some more dilution. It's all good - we have come to expect this behavior. It's easy to try and shake out weak hands and small investors. It's much harded to fend off a unit of sophisticated investors who recognize an amazing buying opportunity when they see it. ;) Is like nothing more than PR or huge buying controlling the scene here and scaring off the MM's. it can easily happen but we don't need to. We know they must dump and of course this stock will rebound sharply.
We will see over .01 by mid November. Sooner if we get PR or theMM's dissipate earlier than expected and with less reaction to the price per share.
Happy trading and as always- this is just an old mans opinion. Very exciting future developing which is why it would make sense to wait out what looks like a storm - but is really very shallow waters where a huge tsunami is forming. I for one- always like to ride the wave.
