Replies to post #5345 on OMDA Oil and Gas, Inc. (OOAG)

[rrufff]

I can't disagree with what you posted. However, in the case of a pink sheeter, where the CEO can unleash a torrent of shares, you have to be extremely quick and get out as soon as you start to see the blocks coming from the company.

If you look at the chart, going back as far as late 2004 and you'll see what I mean. The odds of making money on this are remote unless you get out extremely quickly.

[jimwalters]

Technical analysis only works on companies with regular trading and real liquidity. This stock, and most penny stocks for that matter, do not adhere to technical patterns. You might as well take your money to a craps table. Your odds are better there.

Yes, technically the stock is up recently. It is not real trading that got it there. Look at the spread. 0.0024 x 0.003 does not give one a warm fuzzy. Investing in a stock that you take a 20% haircut off the bat due to the bid/ask spread is not a wise investment.

Plus, the rise has been on nearly zero volume. Since you are so into technical trading you should know that most technical trends require a jump in average daily volume to confirm the technicals. You don't have that here. 800k shares a day for the past two days on a sub penny stock? Please. This thing looks like it was manipulated higher on purpose. The only technical that confirms is a probable bear trap. This thing could easily fall back to 0.001 tomorrow on even less volume. Caveat emptor!