REDG Trading - September 14. I did warn several
Post# of 1674
Posted On: 09/14/2015 4:22:10 PM
REDG Trading - September 14.
I did warn several times that the MMs selling for the last remaining convertible debt holders were trying to sell on the ask at .0004 but that, if people didn't buy each day, they would dump into the bid. They signaled that over the last few trading days by dumping 2 to 4 10M chunks a day.
Today, with the news, people should have buying on the ask - initially the GTC orders from flippers at the open were the same at about 14M - but very few did and so yet more was added to the ask - back up to 40M+ and when that wasn't bought, they dumped into the bid.
Now the MMs will probably try to sell on the ask at .0003.
The REDG CEO has confirmed that today's news was just one of many deals in the works and wasn't "the big one".
At the end of the day, the medium term prospects all hinge around a successful launch on November 4 of the GSL ad supported comics at Toys R Us and through opted-in comic shops. Provided the ad spaces are filled, REDG will be worth pennies next year after financials - it doesn't really matter which of the many assumptions and calculations you choose to pick - from this level, even .01 would be just fine for many.
I did warn several times that the MMs selling for the last remaining convertible debt holders were trying to sell on the ask at .0004 but that, if people didn't buy each day, they would dump into the bid. They signaled that over the last few trading days by dumping 2 to 4 10M chunks a day.
Today, with the news, people should have buying on the ask - initially the GTC orders from flippers at the open were the same at about 14M - but very few did and so yet more was added to the ask - back up to 40M+ and when that wasn't bought, they dumped into the bid.
Now the MMs will probably try to sell on the ask at .0003.
The REDG CEO has confirmed that today's news was just one of many deals in the works and wasn't "the big one".
At the end of the day, the medium term prospects all hinge around a successful launch on November 4 of the GSL ad supported comics at Toys R Us and through opted-in comic shops. Provided the ad spaces are filled, REDG will be worth pennies next year after financials - it doesn't really matter which of the many assumptions and calculations you choose to pick - from this level, even .01 would be just fine for many.
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A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.