Trading Summary - November 8. Closed yesterday
Post# of 4378
Posted On: 11/08/2016 4:24:27 PM
Trading Summary - November 8.
Closed yesterday at .0024.
Gapped up at the open today to .0026 - broke .0030 very quickly on relatively low volume - and then reached a new 2016 and 52-week high of .0033 very quickly as well.
During this period, any selling was conducted in a sensible manner with no bid whacks and small amounts being made available on the ask.
After a few people sold in an irresponsible manner - first by whacking the bid at .0030 and then by stacking the ask - a number of weak hands panicked and continued to try to sell small amounts. The more weak hands we get out at this level before major updates later in the year the better. On the huge 3Q 2014 run - which took 5 weeks total - momentum was lost for 2 weeks in the .0075>.0099 range when weak hands sold to strong ready for the next leg .01>.0219.
There were only medium size sells - one for 10M on the ask at .0020 which got taken out in seconds with 2 x 5M slaps - and another for 7.8M which somebody sold at .0017 after stacking the ask at .0019 with it for some time.
The bid at .0016 was 20M at its peak - nobody got any significant amount at .0016 which was the low of the day.
Close at .0018 with only around 4M on the ask at .0019.
All the main players are still in (as deduced from posts and trading volume off the bottom).
Going forward, either those seeking to run it up towards .01 will hit the ask tomorrow or we may see further consolidation until the next update from the company due soon (in November).
In the meantime, all eyes are on the results of voting on mj legislation in several states (see my earlier post today).
Total 170M traded today - peak high up 37% - close down 25% - although E*Trade showing +31% close due to an after market transaction for 529,755 at .0032 at 16:12:52.
Closed yesterday at .0024.
Gapped up at the open today to .0026 - broke .0030 very quickly on relatively low volume - and then reached a new 2016 and 52-week high of .0033 very quickly as well.
During this period, any selling was conducted in a sensible manner with no bid whacks and small amounts being made available on the ask.
After a few people sold in an irresponsible manner - first by whacking the bid at .0030 and then by stacking the ask - a number of weak hands panicked and continued to try to sell small amounts. The more weak hands we get out at this level before major updates later in the year the better. On the huge 3Q 2014 run - which took 5 weeks total - momentum was lost for 2 weeks in the .0075>.0099 range when weak hands sold to strong ready for the next leg .01>.0219.
There were only medium size sells - one for 10M on the ask at .0020 which got taken out in seconds with 2 x 5M slaps - and another for 7.8M which somebody sold at .0017 after stacking the ask at .0019 with it for some time.
The bid at .0016 was 20M at its peak - nobody got any significant amount at .0016 which was the low of the day.
Close at .0018 with only around 4M on the ask at .0019.
All the main players are still in (as deduced from posts and trading volume off the bottom).
Going forward, either those seeking to run it up towards .01 will hit the ask tomorrow or we may see further consolidation until the next update from the company due soon (in November).
In the meantime, all eyes are on the results of voting on mj legislation in several states (see my earlier post today).
Total 170M traded today - peak high up 37% - close down 25% - although E*Trade showing +31% close due to an after market transaction for 529,755 at .0032 at 16:12:52.
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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.