posted
Volume really looks good, but I think someone is holding this thing down on purpose. It was trading at .027 then someone jumped in to quick with .021 when they could have sold for .027
IP: Logged |
posted
ABSD has been dropping every since the CEO resigned back on Feb 26/27, but it seems to be leveling off now around .02. I think once things stabilize in the company, it will start to climb again. When the details of the stock dividend is unveiled and the sale of its subsidiary EFTAS is complete, this thing will shoot back up into the .10's range again. $$$
IP: Logged |
quote:Originally posted by cactus33: im still in, my stomach hurts a little, but im ok, lol
Me too! Oddly enough, the lower this goes, the better the chart looks for a bounce. The entire float has changed hands this month or so it would seem. Daily volume keeps getting higher and higher while the PPS keeps getting lower and lower. To think that this was at a 52 Wk. high of $8.00 last April. What's changed other than the CEO?
IP: Logged |
posted
It would'n make sense for them to be diluting. That's like shooting holes in a sinking ship. It's got to be something else, maybe the CEO leaving is the big scare. However, the CEO left for health reason, not that the company was in trouble.
posted
Im in at .06, I keep asking myself why I didnt sell. Who thinks this thing can turn around? Is this company in trouble? The way the stock is going its to hit a micropenny. I wish I had shorted this thing.
IP: Logged |
posted
i know it looks like its doomed, but i have seen this before, look at wtro.. it did the same thing over .40 to .03 before rebounding to .07 plus..
i dont know if this will happen here, but there are more to the penny market than what it appears. remember that mm's have to make a market and have most likely absorbed a butt load of shares during this. They all have a bottom.. just very difficult to find them i still think it turns very soon. and it will breathe. risky play here.
IP: Logged |
I'm seeing "looks like its doomed, but have seen this before," and "why didn't I sell" and on and on--yet scanning 4 pages of posts, I see 3--count 'em, three--charts posted. And very little discussion...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
im new tex, lol.. i could care less about that DD, no one knows for sure whats going on. looks like bs takedown, got more at .0175 avgd under .02 easy now, any lower, i'll eject.. bottom play.. and a whole lotta shakin.
Ex-CEO held 15mil of the 20mil o/s. My guess is he has been dumping since he resigned (this coincides with the start of the drop). Others that have the stock are dumping too due to panic selling. Question is, who the heck is buying all of these shares?
Well, if someone wants to sell, and there is no one that wants to buy, market makers (as a requisite of their position as a market maker) must buy when someone wants to sell, if there is no matching buy order from another trader. It's how they make the market. Otherwise, all this would come to a grinding halt, right?
Take "black monday" in the 80's, for instance. People were dumping everything they owned once the market started to crash. Who the heck was buying then? You guessed it, MM's. No one else was there to buy, so they had to, and you can bet that they were hocking everything they owned to keep the market from completely imploding. While that is an extreme example, it's true of any stock that is being dumped. Think about IGAI, PHEI, BANY, or any of the big diluters, who is buying those shares when they dump millions into the market? You know, the MM's...
It's the same premise when a stock is going crazy on a run. There are not always sellers to fill the orders when a stock runs on high volume and the price gets crazy. Sometimes, there just arent the shares in the float to purchase, yet, the stock keeps going. So, who is selling then? Do you really need to guess, yes, it's the MM's. And what are they doing in this case? Naked shorting. It's the only way the markets can work down here. They buy when the have to, and they sell when they have to. When they are loaded up, they run the stock to offload the inventory and make money. When they short a stock, they kill the price to buy back cheaper, and make money. Rinse, and repeat...
So, what does this have to do with ABSD, skip? Bring it back to the first paragraph... "If the CEO is dumping all of those shares, who is buying?" The MM's are buying, and at this point, they are loaded up. So, to me, that means that at some point here, they will run this up to offload the inventory...
All that said, I grabbed some today. Been watching since it started dropping. I missed bottom by a little, but I will average down if needed. As I sincerely think that the MM's are loaded up, and they are going to need to offload at some point. You can bet they won't do it at this level. I like it to bounce soon, and the above explanation, is why...
quote:Originally posted by argj00: Excellent insight skip. There is hope in this one. At which price do you think it will go to when the MM's start to unload.
LOL The million dollar question.
argj00 as with all pennies don't get greedy. Its easier to unload while the price is rising.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Roll Eyes]](rolleyes.gif)
![[Wink]](wink.gif)
![[Confused]](confused.gif)
![[Cool]](cool.gif)
![[Smile]](smile.gif)
