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Thread: Level 2 action today, if anyone wants to be depressed

  1. #1
    relmor2003 is offline
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    Level 2 action today, if anyone wants to be depressed

    MM's are still in complete control, and just executed a take down to prevent a rise past .151. They are trying to hold .15 and break past it, without selling pressure whatsoever today. Anyone expecting a huge surge for today can forget it.
    20% chance .15 wont hold.
    New positions: Wait
    Adding positions: .15 cents should be ok at this level.
    Selling to rebuy lower: I dont have enough information yet to advise this.

    I print screen proof of the take down for my files. Did it with 500 block shares today.
    Last edited by relmor2003; 03-09-2009 at 11:22 AM.

  2. #2
    killerkaul is offline
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    relmor.................. thanks for that, will cont. monitoring. ..killer.

  3. #3
    relmor2003 is offline
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    Buyers are reluctant to move up past .15 cents. They still feel thats going to allow them to purchase today. Until they see differently, longer it stays there, better the chance it wont hold, MM's will look for a moment of weakness, and break it past there. If its still flirting with .15 cents for another hour, not going to be good.

  4. #4
    mogami is offline
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    MM's

    lots of 100 share blocks

  5. #5
    relmor2003 is offline
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    Quote Originally Posted by mogami View Post
    lots of 100 share blocks
    Yep, got my print screen on that one too. When it hit .151 they did it with 100 share blocks this time, as volume is lower than when they used 500 earlier in the day.

  6. #6
    mydogniles is offline
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    Joined: Mar 2009 Location: Burlington, CT Posts: 24
    glad to see you guys on patrol. i am thinking about buying again but concerned about action leading up to 3/17. it's amazing, at least from a pure "changing of events" stand point that we are not moving higher. my god, how much better off we are today than just last week. and yet no real movement in price.

    guys, what needs to happen to move this pig higher? any single event, or is it just a culmination of several positive events that generates enough buying that the mm's can't hold back? seems like common sense alone puts siri at .25 no problem...but here we are stuck at .15. if r/s eliminates this type of manipulation then bring it on...that's all I can say. at least we might then see some upward movement. right now, siri could announce a huge q4, fcf, maybe even a profit, and this pig would sit at .15.

    my pubic hair is turning gray over this stock!!!!

  7. #7
    relmor2003 is offline
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    Talked to some day traders. They dont touch charts like SiriusXM's nor do they trade stocks under $1 usually. This stock is NOT a daytraders dream. Buyers are weary of buying before March 17th, and the MM's are talking advantage of spotty buying pressure. Going to have to have more news, or the MM's wont reevaluate the price, as no one is forcing them to at this time. Plenty of buyers who think .14 cents will hit again, looking down the list.
    Since this stock is a MM money maker, they will move the price at some point. Just have to be patient, and hope its up, not down. Either direction will generate huge volume. .13 to .16 looks like a "dead zone" of interest.
    Last edited by relmor2003; 03-09-2009 at 12:02 PM.

  8. #8
    mogami is offline
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    volume

    Looks like the volume will be up compared to last weeks pre news levels but below last years average. (today will be about 35 million on the NASDAQ page that is generally lower then what is listed on other sources) Last year I think average was around 50 million per day.

  9. #9
    mydogniles is offline
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    thanks for the feedback relmor. i'm bullish on the q4 report. mel gave guidance when the quarter was almost done so he had a pretty good idea of the numbers. plus they announce additional cost reduction, i think about 100 million, that they hadn't expected. that news was totally ignored at the time, but i think it should play out nicely in q1 guidance. one think mel is good at is watching expenses. chris russo was interviewed by howard a few weeks back and mentioned that he asked mel for some additional funding to do some stuff on the weekend and mel said no. he said you can spend every dime you're budgeted for...but not a penny more. to me that spoke volumes about the operation controls mel is implementing. i'm a little concerned about oem sub guidance, but i supposed that is priced in already. so counting on something positive to keep the momentum going forward...

  10. #10
    mogami is offline
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    day trading

    Quote Originally Posted by relmor2003 View Post
    Talked to some day traders. They dont touch charts like SiriusXM's nor do they trade stocks under $1 usually. This stock is NOT a daytraders dream. Buyers are weary of buying before March 17th, and the MM's are talking advantage of spotty buying pressure. Going to have to have more news, or the MM's wont reevaluate the price, as no one is forcing them to at this time. Plenty of buyers who think .14 cents will hit again, looking down the list.
    Since this stock is a MM money maker, they will move the price at some point. Just have to be patient, and hope its up, not down. Either direction will generate huge volume. .13 to .16 looks like a "dead zone" of interest.
    Hi, I can see that. There is no movement anymore. Back in Dec and Jan you would have .05 between days high and low and the high was always in the morning after opening. It was easy to trade. Sell right away and then buy back around lunch and sell again right before close. Repeat by buying after hours after price went back down.
    Currently we are in the doldrums

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