Yup - the chart one guy posted in the threads is different, but he's looking for the same as me - wanted a close at 0.041. I thought it was going to come too, as the ask went up to 0.05 after I entered. We'll see........
Alcoa reported positive AH. US futures trading up at this moment, as well as most commodities. Asian markets are 50/50, and Europe is up. The direction still hangs. There was a lot of sector rotation the last month, but as usual, now all bets are off.
We could be setting sail on some of those ships after all. I see OCNF (why do you guys pick that one over others?) hit support at 1.20 and closed close to the more stable 1.25 line. Things of course are still dicey until more of a direction is established as reports come out.
Last edited by Dr. Dave; 07-09-2009 at 06:46 AM. Reason: Had a buy target for DRYS but reevaluating
Dr.DaveOriginally Posted by Dr. Dave
ocnf has been a favorite going from a purchase at .95 up to what it has been and back ..I have also picked up some gas money on egle and drys,I am just looking for a new entry point on them...
(ocnf) lost some ground on news of dilution they sold some ships and repurchased some others..the last few weeks I have not tried to ferret out any news on it..
Do you know if there are still R/S fears, it may bounce on this support level... I'm maybe looking for an in on one of the others too... just want to see a decent setup. I have PACR which is involved in moving freight, looking for it to hold its support today.
On a fundamental basis, If a company adds a revenue stream, is there a good way to figure out how it could affect stock price? Lets say a company has 30 billion shares outstanding. It reports an additional revenue stream of 30 million/year. This new revenue would be an additional .001/share. If the average industry P/E ratio is 18X, would it be feasible to say that it would mean a bump in share "value" of .018(ish)?
Standstill - not a good day for options day trading.
Bill, you should know that I got the order partially filled at open this morning.
So far, I've snagged 11,000 of 20,000 shares ordered, all at $.0195.
gl with your buy!....
thanx for posting the chart and your opinion. im playing this one strictly on the breakout pattern and may hold a small amount of free shares long term.
im borrowing from my poker skills here. a combination of a breakout pattern and the ceo going to europe to solicit investors looks like a decent formula for a profit in my portfolio. i think this play is plus EV so im going with it.
thanx for your target , i truly appreciate your opinion.
Don't know if you saw the earlier trade - the bid and ask were at where they are now, 0.37 and 0.40 - as soon as the trade went thru, it switched to 0.40 and 0.45. Then it settled back down. We need a buy at 0.041 to get it rolling. I didn't put much in at all. If it looks like a pattern failure - like if it appears to hit the midline, I'll likely cash out, if it hits a target, I'll pull 4/5 out and let the rest ride.
Man, I was all excited to see what the rest of the market is doing today - I've practically been up all night, slept for like an hour - I may have to just go back to bed... These MGLG trades are a riot though... 2000000 shares here, 150000 there.
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