READ THIS! Very interesting FITX discussion going
Post# of 56324
Posted On: 04/30/2014 7:29:15 PM
READ THIS! Very interesting FITX discussion going on in the FB Greenrush traders group which I have cut and pasted below. Oceansize, given your experience as a broker, can you (or anyone else) confirm that this is true?? :
Markos Artemidors"The Green Rush Trading Group"
1 hour ago
FITX open market shares for the first time fell below 40 million. A complex OMT squeeze is occurring, MM will have a hard time between the 3 house exchanges.
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7 people like this.
Mike Mallder
Can you dumb that down for me?
Like · 5 · 1 hour ago
Micheal P O'Brien
Plz
Like · 47 minutes ago
Markos Artemidors
If a stock doesn't trade for more than 5 business days it's considered off the market (OTM). In other words, it's a long term hold. Flippers/Day Traders don't hold. Market Makers can only sell the shares that are in the open market between the exchange houses. As investors hoard shares less and less shares are available therefore a major spike is forthcoming. On average, due to the large float 2.6B, FITX had over 200 million OMT. Currently it's sitting under 40 million OMT.
Edited · Unlike · 6 · 42 minutes ago
Jacob Miller
So what's the resulting environment looking like ?
Like · 43 minutes ago
Markos Artemidors
OMT = Open Market Trades
OTM = Off The Market
Like · 1 · 43 minutes ago
Harold Keeling
Mark ....break all that down for us in kids English ...
Like · 3 · 41 minutes ago
Mike Mallder
Thanks Markos, I had a feeling that's what that meant but I wanted to be sure.
Like · 40 minutes ago
Travis Dufrene
Less Supply + More Demand = higher pps
Like · 5 · 37 minutes ago
Harold Keeling
Wow ...sounds enormous ! .... shares should be priced higher and heading into the license stage this is very good news !!!
Like · 1 · 35 minutes ago
Bob Donegan
It means we see a huge jump in price soon !
Like · 3 · 35 minutes ago
Jacob Miller
Now the question is do we sell off like many will at a 52 week high an pick up again when it drops back to .08's
Like · 33 minutes ago
Mike Mallder
How do shares come off of the float? Does fitx issue them or do the MM's take them?
Like · 22 minutes ago
Harold Keeling
That's not my question Jacob .... Im selling at 3 dollars ...It doesn't matter if it takes 5 years ...I should put my sell order in right now !
Like · 15 minutes ago
Jacob Miller
Lol that's fine too I'm 85 % long . I just want to grow a empire and eventually buy a couple countries an name them after myself before I'm 30 haha
Like · 2 · 13 minutes ago
Markos Artemidors
Mike, float is what's in the open market to include you, me, insiders, mutual funds (n/a), institutional (n/a), restricted shares & unrestricted shares. In the company's safe to say, there's approximately 1 billion shares. Now let's say FITX buys a company they go to their banked shares increasing the float. FITX can't pass 3.5B without a proxy vote by shareholders to authorize an increase in outstanding shares. I try to make as simple as I can.
Markos Artemidors"The Green Rush Trading Group"
1 hour ago
FITX open market shares for the first time fell below 40 million. A complex OMT squeeze is occurring, MM will have a hard time between the 3 house exchanges.
Like·Comment·Get Notifications
7 people like this.
Mike Mallder
Can you dumb that down for me?
Like · 5 · 1 hour ago
Micheal P O'Brien
Plz
Like · 47 minutes ago
Markos Artemidors
If a stock doesn't trade for more than 5 business days it's considered off the market (OTM). In other words, it's a long term hold. Flippers/Day Traders don't hold. Market Makers can only sell the shares that are in the open market between the exchange houses. As investors hoard shares less and less shares are available therefore a major spike is forthcoming. On average, due to the large float 2.6B, FITX had over 200 million OMT. Currently it's sitting under 40 million OMT.
Edited · Unlike · 6 · 42 minutes ago
Jacob Miller
So what's the resulting environment looking like ?
Like · 43 minutes ago
Markos Artemidors
OMT = Open Market Trades
OTM = Off The Market
Like · 1 · 43 minutes ago
Harold Keeling
Mark ....break all that down for us in kids English ...
Like · 3 · 41 minutes ago
Mike Mallder
Thanks Markos, I had a feeling that's what that meant but I wanted to be sure.
Like · 40 minutes ago
Travis Dufrene
Less Supply + More Demand = higher pps
Like · 5 · 37 minutes ago
Harold Keeling
Wow ...sounds enormous ! .... shares should be priced higher and heading into the license stage this is very good news !!!
Like · 1 · 35 minutes ago
Bob Donegan
It means we see a huge jump in price soon !
Like · 3 · 35 minutes ago
Jacob Miller
Now the question is do we sell off like many will at a 52 week high an pick up again when it drops back to .08's
Like · 33 minutes ago
Mike Mallder
How do shares come off of the float? Does fitx issue them or do the MM's take them?
Like · 22 minutes ago
Harold Keeling
That's not my question Jacob .... Im selling at 3 dollars ...It doesn't matter if it takes 5 years ...I should put my sell order in right now !
Like · 15 minutes ago
Jacob Miller
Lol that's fine too I'm 85 % long . I just want to grow a empire and eventually buy a couple countries an name them after myself before I'm 30 haha
Like · 2 · 13 minutes ago
Markos Artemidors
Mike, float is what's in the open market to include you, me, insiders, mutual funds (n/a), institutional (n/a), restricted shares & unrestricted shares. In the company's safe to say, there's approximately 1 billion shares. Now let's say FITX buys a company they go to their banked shares increasing the float. FITX can't pass 3.5B without a proxy vote by shareholders to authorize an increase in outstanding shares. I try to make as simple as I can.
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