I will try to remember to remove the s. As for trading range. We shall see. I do agree that .07 held twice now. The test is to see how much pressure the middle BB and 10 day sma put on the pps. If we do break .07 then major support lies at the 200 day sma and bottom channel at .06 which is but a penny lower.
LFAP chart~~~ Expanded to 4 months to include 4/3/19. The OBV has been flat for 3 months showing how the MMs bled off excess inventory without serious disruption of the PPS. Yeah, I am down 43% but last month my small add at .074 makes me feel like a stupid genius. ;-)
John Kent & Thoth have raised some points on who is selling. I added some research links below the chart to add to the mix of our valid assumptions. Whatever the MMs are doing with the inventory we are entering the Rectangle Bottom setup thanks to a "creative Making the Market strategy". It is going to be a hot Summer so we should be able to squeeze a few bucks profit from a sprinkle of reaction highs, so be alert guys. Remember to keep a core position because we might be sitting on a 'MOAB bomb'.
"Officers and directors of companies, owners of restricted stock, and owners of more than 10% of a company's stock are legally required to let the SEC, and thereby the public, know when they sell, or intend to sell their stock."
"intend to sell" form 144 of course
"Form Definitions
"Insider" is a general term for officers and directors of a company. However, most "insider" rules also apply to shareholders who have more than 10% of the company's stock. "
"Restricted stock, in general, is stock that has been purchased in any way other than a public offering. There may or may not be actual restrictions imposed by the company or underwriters on how the owner can dispose of the stock (often there are). However, for SEC purposes, restricted stock means stock sold directly by the company to an investor in a privately arranged sale. Exercise of stock options generally does not fall into this category.
Form 144 filings report the proposed sale of any restricted stock. While this includes company insiders, it also includes anyone who owns restricted stock, as defined above, regardless of how many shares."
now this part is where many investors get confused.. definition: "Insider" is a general term for officers and directors of a company. However, most "insider" rules also apply to shareholders who have more than 10% of the company's stock (no mention of unaffiliated shareholders here) here is the rule.. "Form 4 filings state the changes to an insider's holdings when they occur. The Form 4 includes purchases and sales as well as exercise of options, disposition by gift, or other transactions." (no mention of unaffiliated shareholders here)
see.. everybody files the form 144 but..only insiders (see definition) must file form 4
When do we see form 4s?
"Filing of the SEC forms listed above is mandatory and required by law. However, and unfortunately, they are not required to be electronically filed as part of the SEC's EDGAR database. The EDGAR database, which is freely accessible on the Internet at www.sec.gov, contains all of the electronic filings made by a company. However, since electronic submission of Forms 3, 4, 5, and 144 is optional, many companies make only a paper filing of these forms."
"Form 4 information is filed after the fact. Many companies report Form 4 transactions monthly, for transactions in the previous month. If the Form 4 information represents stock that is not restricted, and therefore, not subject to Rule 144, there is no advance information at all. Simultaneous exercise and sale of options often falls in this category."
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