I'm not liking the trading today at all. A lot of selling going on. People may be booking there profits for now and waiting to see what happens. You are right about .0065. Problem is that what may happen with that expectation is when people see it break... it may lead to "mass exodus" and high volume selling. Everyone is watching that line carefully.
Appears that AmericanBulls rated CYTP a sell yesterday... acknowledging a bearish engulfing candlestick pattern. I believe this may have psychologically impacted the stock in a negative way. Shareholders are reevaluating positions.
AmericanBulls stated: Today a Long Black Candlestick formed. Sellers were aggressive and selling pressure was strong. Be careful, this may be a potential turning point!
The last two candlesticks formed a Bearish Engulfing Pattern. This is a bearish formation that marks a potential change in trend, and indicates that the bears have sized control from bulls.
quote:Originally posted by Jeremy: If it does drop below .0065 though, I'm out, taking the gains that I have and will wait for another entry. If it goes below that line, the MACD will cross below it's signal line for the first time in months, and would probably start quite a trend reversal.
But until that happens, this shouldn't be that big of a deal.
Jeremy, I'm watching that closely too. I've already taken a big chunk off the table just because I had too much at risk for one play. I still have a big chunk on the line, but am waiting to see if the consolidation stops here. If it turns up, I'll get back in and take a little loss on my caution. If it turns down...the rest comes off soon!
posted
I'm not liking the way the day is going either.. but I still don't think it will drop below .0065. But you're right, if it does, you'll see it go down really fast.
But I'm still locked in with a profit, so I would be comfortable getting out in the 6's, let everyone sell, then get back in around the 4's again for the next ride.
But if it doesn't drop below .0065, I'm staying in, because it still would not be a bearish comfirmation.
posted
I just tried to set a stop loss with ameritrade, and I guess it won't let me on otc bb's that's nerve racking. I have to leave for the majority of the day today, with no safety net.
Posts: 179 | From: Tacoma, Washington, United States | Registered: Sep 2003
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posted
You know that yesterdays trading was unusual also. Amazed me that Friday close strong without any selling pressure at all... then amazingly... Monday seemed like there was a lot of selling pressure. Mach
quote:Originally posted by Jeremy: I'm not liking the way the day is going either.. but I still don't think it will drop below .0065. But you're right, if it does, you'll see it go down really fast.
But I'm still locked in with a profit, so I would be comfortable getting out in the 6's, let everyone sell, then get back in around the 4's again for the next ride.
But if it doesn't drop below .0065, I'm staying in, because it still would not be a bearish comfirmation.
Good luck to you. I know you are probably kicking yourself for not booking any profit above a penny. mach
quote:Originally posted by skatchmo: I just tried to set a stop loss with ameritrade, and I guess it won't let me on otc bb's that's nerve racking. I have to leave for the majority of the day today, with no safety net.
posted
I'm off my yesterday highs by 20%. I left some in there, but I took 1/2 off the table. I guess I'm officially one of the "weak hands" you talk about.
Kevin
quote:Originally posted by machtabow2: Skatchmo,
Good luck to you. I know you are probably kicking yourself for not booking any profit above a penny. mach
------------------ "I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use." - Galileo Galilei
posted
Is this groundhog day. This is a replay of last week. BAMM on the ask holding the price down. I expect a quick move to the upside when BAMM gets off the ask just like last week. Plenty of buyers at this level this morning. Accumulation is continuting this week. Just my opinion but I think there is still something bigger going on. Would have been great to trade out in the .008s and buy back here, but it is not worth being out of this if news hits before the open.
quote:Originally posted by ve3avw: wow -- it used to be 5 mesages per minute and now nothign for 20 minutes ... are we loosing interest or holding our breath??
I for one REALLY hope it goes back up .. enough of this .0067-.0068 BS!~
I think there is a lot of breath holding going on!
quote:Originally posted by buzz: no one is selling. Bid will build throughtout the day. The group accumulating is going to have to pay a higher price to continue
Buzz
The MM's do look set up to take this back up if there is any kind of buying pressure at all. We shall see.
posted
my interpretation is that when an MM is in the same position for more than 10 minutes, that he is intentionally holding the price down. The lowest ask by an MM is the only price that is active. Sure if someone puts a sell order in at .008 and someone puts a bid in for that, the sell will go through, but because the MM has the ask at .0068 the price will drop right back down as if to say. Hence, MM's control the price.
Posts: 747 | From: NYC | Registered: Aug 2003
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posted
I put as big an order as I could afford (which isn't that big!) at BAMM's ask. It filled. I wish someone with more resources would put through an order for 3 or 4 million at that ask to bust them off it. The fact that they are standing pat at that level doesn't seem to be a good sign.
Kevin
quote:Originally posted by Bhodisatva19: my interpretation is that when an MM is in the same position for more than 10 minutes, that he is intentionally holding the price down. The lowest ask by an MM is the only price that is active. Sure if someone puts a sell order in at .008 and someone puts a bid in for that, the sell will go through, but because the MM has the ask at .0068 the price will drop right back down as if to say. Hence, MM's control the price.
------------------ "I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use." - Galileo Galilei
posted
MM boring me to death today. This trading is very slow. CYTP down. AFRR down. At least CESY is climbing for me today. mach
Posts: 2695 | From: orlando | Registered: Sep 2003
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posted
Ahhh, (the fog lifts a little)so does the demand eventually override them or do they just reach their objective and move on?
I've had the last two days off due to the fires here in So. Cal. and thought it would be a good chance to pick up on some of this stuff. But when games are being played with the stocks it makes it tougher, especially when your not real sure what your looking at in the first place!
posted
big spread. BAMM just played everyone who sold this morning. .0075 looks tough at least for today. when it goes we will move fast into the 8' -9's
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Peter Antipatis of Capital Research Group Inc.
WESTON, FL, Oct. 28, 2003 (MARKET WIRE via COMTEX) --
Watch Tekron Inc. (OTC BB: TKRN). TKRN just announced big news! The Company has been executing on its growth strategy, and it could be a huge gainer in near-term trading! Other stock market standouts include: Cybertel Communications (OTC BB: CYTP): Market Perform, down 13% on 82 million shares, Point Group Holdings Inc. (OTC BB: PGHI): Market Perform, up 117% on 43 million shares, ADC Telecommunications (NASDAQ: ADCT): Market Perform, up 6% on 43 million shares.
------------------ "Humor. Don't leave home without it" !
Posts: 304 | From: conroe, tx, USA | Registered: Oct 2003
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quote:Originally posted by kevinbailey: I put as big an order as I could afford (which isn't that big!) at BAMM's ask. It filled. I wish someone with more resources would put through an order for 3 or 4 million at that ask to bust them off it. The fact that they are standing pat at that level doesn't seem to be a good sign.
Kevin
Kev....you and I are thinking a lot alike today! I watched level 2 on this for a long time before deciding to buy back in at .0068. I've gotta leave the office for the rest of the afternoon, so I hope I come back later to see this in a nice green position! Even if it settles in around .0075 for the day...that would be a nice close after all the consolidation.
quote:Originally posted by PSU90: Kev....you and I are thinking a lot alike today! I watched level 2 on this for a long time before deciding to buy back in at .0068. I've gotta leave the office for the rest of the afternoon, so I hope I come back later to see this in a nice green position! Even if it settles in around .0075 for the day...that would be a nice close after all the consolidation.
posted
I was back in at .0068, trying to take out BAMM's bid. Must have worked!
Kevin
quote:Originally posted by machtabow2: Market gaining confidence. mach
------------------ "I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use." - Galileo Galilei