Unfortunately I stand by my technical read that SOMETHING isnt sitting well with the smart money, ie. the real size that has been dumping this on peoples heads daily since early April.. Now the ONLY thing that can truly shift momentum is news.. It's just been my past experience that the only companies that can keep the uber tight lip about upcoming product/announcements/earnings/ surprises, are the companies with the mean$ to keep insiders quiet (ie. apple/google/Netflix etc, the BIG BOYS). These smaller simple run home grown startups like MCIG will forever have loose lips and leaky intel, which leads to lots of inside folks or those close to the info, moving earlier than us general schleps.. So MY opinion/experience in these little penny lotto tickets has been, if one of them starts making waves with an actual product etc, you'll often see waves of buyers or sellers well ahead of news and information hitting the public. Again, just my opinion and experience and personally IF this S1 goes into YET ANOTHER round of comments, or something like a delisting or lack of numbers or something disappointing happens AGAIN in sept, it's no shock to me and I simply attribute the continuous falling pps since April as the forecasting flag that has been telling us all to look out... To my view, if eveything is so rosey and great, why is it continuing to fall? Short sellers??? Hardly! Why would ANY informed short seller overload short into a company that truly has something about to explode to the upside ? (As I mentioned and all short sellers know, NEWS can change everything) and those guys only pound down either empty worthless companies or companies that continually fall short or disappoint with news and delivery (it's my guess that the later is the case behind this drop since April) I have cut a large majority of my holdings as today's close is quite possibly THE ugliest chart throughout my ENTIRE watchlist of over 250 stocks.. Between spike in volume and close AT the absolute low of the day, I think you can all guess what's going to happen tomoro, and as someone on here already said, once the .20's start trading, LOOK OUT.. All I can say is, the charts already forecasted this for weeks upon weeks
As for short interest, it really doesn't matter in a issue that has hundreds of millions out, it can be covered entirely over a day or 2 with .10-.20 cent upside .. I am beyond certian (again just my opioniom) There is NOTHING this company will say ANYTIME soon, if ever, that will reverse 4 months of depressed buyers..other than they've been acquired by big Tabacco. But we all know that's not happening either in our time..
Good luck, I'll be sitting on sidelines watching the technical carnage with my piddly position, and I can assure you if anything drastic was announced, I Could EASILY buy ALLLL I can afford well below .35/.40 you will NEVER see this Gap more than a handful of pennies, and even then, a handsome bid on the open would be filled in 1 or 2 unnoticed hits..
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