Six weeks of heavy selling drove PPS to .0314 low.
Post# of 56324
Posted On: 10/17/2014 1:53:25 PM
Six weeks of heavy selling drove PPS to .0314 low. I find this interesting because despite heavy volume selling week after week (last 6 weeks) that the selling does not appear to be longs dumping shares which speaks volumes on the steadfastness of longs and obviously shows a continued shareholders support.
Also, even with the volume of shares sold over this 6 week period PPS has been resilient and is now trading at the upper range of this current downtrend so be watching for confirmation on price action next week.
One thing seems clear. That is the people or group selling over the last 6 weeks have no compunctions with driving PPS down in advance of license which must also mean those sellers also have sufficient holdings that selling at this time still leaves them well positioned for a gap up on license news.
This is the problem (for shareholders) when approximately 2,500 million shares are in the float. IMO, the SS is the single most significant issue as this hinders everything from a merger to an uplist.
While there are many trading strategies, I personally feel the safest is to hold and accumulate on lows over a long period of time.
Why?, Because this remains a new industry full of twists and turns. Who, for example would have anticipated a FINRA halt in all equity securities, a political blowup by Lakeshore, Delays by HC and so on.
Ultimately, it is the need for tax revenue that continues driving this industry and politicians have demonstrated countless times that while they seem to constantly stumble that that always find a way to cross the finish line when it comes to creating tax revenues via regulatory means. after all, government don't make money, they take money and this is done by regulatory means so "getting it right" just means "setting up a means to maximize tax revenue".
IMO, FITX has done a very good job positioning within this new industry. I am not at all personally concerned with price action as the company and the industry move forward.
Also, even with the volume of shares sold over this 6 week period PPS has been resilient and is now trading at the upper range of this current downtrend so be watching for confirmation on price action next week.
One thing seems clear. That is the people or group selling over the last 6 weeks have no compunctions with driving PPS down in advance of license which must also mean those sellers also have sufficient holdings that selling at this time still leaves them well positioned for a gap up on license news.
This is the problem (for shareholders) when approximately 2,500 million shares are in the float. IMO, the SS is the single most significant issue as this hinders everything from a merger to an uplist.
While there are many trading strategies, I personally feel the safest is to hold and accumulate on lows over a long period of time.
Why?, Because this remains a new industry full of twists and turns. Who, for example would have anticipated a FINRA halt in all equity securities, a political blowup by Lakeshore, Delays by HC and so on.
Ultimately, it is the need for tax revenue that continues driving this industry and politicians have demonstrated countless times that while they seem to constantly stumble that that always find a way to cross the finish line when it comes to creating tax revenues via regulatory means. after all, government don't make money, they take money and this is done by regulatory means so "getting it right" just means "setting up a means to maximize tax revenue".
IMO, FITX has done a very good job positioning within this new industry. I am not at all personally concerned with price action as the company and the industry move forward.
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