Trading Summary - June 10. 560M traded of whic
Post# of 1674
Posted On: 06/10/2016 4:29:31 PM
Trading Summary - June 10.
560M traded [although one source shows 760M] of which all bar around the first 7M was convertible debt selling on the bid or ask at .0002 (or thereabouts).
Of that 560M, 388M was at non-retail prices of .00015>.000198 or .000205.
It certainly looks like there is another note in play for 581M in addition to the one for 400M so I will be looking for signs of convertible debt selling market makers moving off the ask by the 981M mark.
Using my methodology - which is just my opinion - the total converted so far since May 26 is 197M up to yesterday + 553M today = 750M.
The bid at .0001 peaked at 403M.
There is also a theory floating around that it might have been shorted.
Pros of today's activity:
A large amount of convertible debt selling now out of the way before any significant news hits on projected revenues from POW Folio, ZWAG Box and Markiplier items prior to San Diego Comic Con.
Ultra-longs secured at least 50M (people I know) and possibly 100M (guessing from other posts) of the 172M that traded at retail prices today. These shares are will not be flipped anytime soon.
Ultra-longs were able to reduce the cost basis of their lowest price upwards long-term stash holding for a major move - and release shares at .0003 and above for sells earlier than previously planned.
Cons
One tick flippers undoubtedly got some .0002s.
It is not obvious yet what role each MM is taking.
Some people have panicked and are selling at .0002 - either for a profit from .0001s picked up in late-2015 or early 2016, or for a loss.
Whilst the ask is stacked in the 50M>100M, new inexperienced investors in this price range may be put off.
However, just this week, I have seen a stock with nothing going for it have a 100M ask bought out in one day and then the next day uptick for 3 ticks on 50M>100M per tick and then churn 100M at the hod.
So anything is possible at any time.
560M traded [although one source shows 760M] of which all bar around the first 7M was convertible debt selling on the bid or ask at .0002 (or thereabouts).
Of that 560M, 388M was at non-retail prices of .00015>.000198 or .000205.
It certainly looks like there is another note in play for 581M in addition to the one for 400M so I will be looking for signs of convertible debt selling market makers moving off the ask by the 981M mark.
Using my methodology - which is just my opinion - the total converted so far since May 26 is 197M up to yesterday + 553M today = 750M.
The bid at .0001 peaked at 403M.
There is also a theory floating around that it might have been shorted.
Pros of today's activity:
A large amount of convertible debt selling now out of the way before any significant news hits on projected revenues from POW Folio, ZWAG Box and Markiplier items prior to San Diego Comic Con.
Ultra-longs secured at least 50M (people I know) and possibly 100M (guessing from other posts) of the 172M that traded at retail prices today. These shares are will not be flipped anytime soon.
Ultra-longs were able to reduce the cost basis of their lowest price upwards long-term stash holding for a major move - and release shares at .0003 and above for sells earlier than previously planned.
Cons
One tick flippers undoubtedly got some .0002s.
It is not obvious yet what role each MM is taking.
Some people have panicked and are selling at .0002 - either for a profit from .0001s picked up in late-2015 or early 2016, or for a loss.
Whilst the ask is stacked in the 50M>100M, new inexperienced investors in this price range may be put off.
However, just this week, I have seen a stock with nothing going for it have a 100M ask bought out in one day and then the next day uptick for 3 ticks on 50M>100M per tick and then churn 100M at the hod.
So anything is possible at any time.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
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.
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