posted
Interesting, but looking at the chart, goes weeks without trading sometimes. Seems like a frontload going on. May be able to make some bucks off it, but spread is 100% right now! I'm sitting this one out. Good luck to you though.
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Your absolutley correct about it trading thinly, some days not at all. Just an observation when it does trade.
Traded on 8/21/07, 50K shares, slightly over the current 50 day avg,(which would have been less then, but we'll call it even), closed at .015, a price decline of 57% from it's 8/15 close of .035
Then it took time off until after the holiday, and traded 5.7 times its 50 day average closing at .0095 with another 36.7% price decline.
Today it does almost 23 times its 50 day average volume being down another 32.6% at todays low from yesterday's close, or 81.7% price decline from the 8/15 close of .035. It did close up today at .01, so if you were watching and bought at .008 or less, I think you did good.
Hope everyone is till with me and not confused with volume and price facts. To recap we have a stock that went from .035 to .0064 a decline of almost 82% while first equaling, then 5.7 times, then 23 times its usual volume. Beatings like that get my attention.
Frontloading? I would think if it were being frontlaoded with those type volume spikes compared to average we would have a price increase. Why? First the obvious, SUPPLY & DEMAND. Second, with an O/S of 11,268,316 that million plus volume today should have caused a price increase throughout the day, not a 52 week low.
Can I tell you with 100% certainty why the price declined on such unusually high volume? No, but here's an educated guess. The MM's have the most powerful tool in the world, it is called control over the Bid/Ask process. Those shares you see being traded at these discounted prices are frontloading alright, but by the only individuals that can frontload and have the stock price do just the opposite of what it should do. They kept lowering the B/A causing a panic sell.....and guess where those shares are now?
So, they loaded up on panic sold cheap shares, took it down harder than I expected today, to .0064. No one can say when it will bounce, but I wagered a small amount that it will. I guess because of how thinly traded it is, one might get caught, but I have never seen a stock run on zero or little volume, when it's time the volume will be there.
I have to disagree with this being frontloaded for the reasons explained above. It's a decent little penny stock being manipulated. Peruse the Form 10, they have sales, 1.2 to 1 quick ratio, a little cash on hand....They have some staggering long term debt, but what sane penny player thinks long term?
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
Glad to see you guys on this. 11mil o/s is very nice. I like the unusual volume as well. BTW, half of the volume today was in one trade at .0064...
Look what it did 9 months ago from this price level...
posted
Will, I agree completely and can't chalk it up to anything other than a mistake on my end. I looked at the volume, and for some unknown reason, must have never even looked at the price. My apologies.
(However, can I keep my rep as a basher up by saying it could be the company diluting or a big holder that just decided to bail and chased the bid down? )
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posted
The bid was .007 , there was one MM on the ask at .009, so I put an order in for .009. Immediately, NITE moved from the ask to the bid on .009. Usually he holds it back.
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posted
That is a possibility, there is a lot of convertible notes out there. Trouble is you don't know when someone is converting and dumping. If that's what it is, it will bounce when they're finished. Just takes patience, volume, and some more Bid support now - .009 / .014 now.
quote:Originally posted by PCola77: Will, I agree completely and can't chalk it up to anything other than a mistake on my end. I looked at the volume, and for some unknown reason, must have never even looked at the price. My apologies.
(However, can I keep my rep as a basher up by saying it could be the company diluting or a big holder that just decided to bail and chased the bid down? )
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
Can't tell if they are going to pop it, then really kill it, or just really kill it. Bottom line, there is obviously some dilution going on, but it will bounce. Question is, where do they take it before they really bounce it?
That said, the o/s is still really small and it can/will bounce easily when it does... In fact, it might have several lower lows, then nice bounces, over the next couple months. I think we got another JUNI on our hands...
posted
My thoughts are get in and get out, take the 25% and 30%s, then buy back in when it drops. I bought this twice, I'm in at .0079. I wasn't at the computer today so I didnt see it hit a penny or I would have probably got out. But this moves very easy. So we will see.
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posted
This looks to be the case, can't win em all, but it did advance after alert, probably won't take off though, they'll keep selling.
quote:Originally posted by will: That is a possibility, there is a lot of convertible notes out there. Trouble is you don't know when someone is converting and dumping. If that's what it is, it will bounce when they're finished. Just takes patience, volume, and some more Bid support now - .009 / .014 now.
quote:Originally posted by PCola77: Will, I agree completely and can't chalk it up to anything other than a mistake on my end. I looked at the volume, and for some unknown reason, must have never even looked at the price. My apologies.
(However, can I keep my rep as a basher up by saying it could be the company diluting or a big holder that just decided to bail and chased the bid down? )
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
IP: Logged |
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