Trading Summary - August 22. In early trading,
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Posted On: 08/22/2019 9:12:43 PM
Trading Summary - August 22.
In early trading, everything was progressing as expected with the small number of shares available under .7000 bought out rapidly, the .7000+ break, a decisive $35K buy at .7100 and the hod .7350 started.
Then, without reading it correctly or providing considered comment, a moron on iHub posted a link to a Form 8-K which stated that the USN is taking "corrective action" and intends to cancel the existing contract.
This precipitated minor selling in the .6000 > .3000 range - followed by panic selling / profit taking on low cost basis shares in the .3000 > .1500 range.
Almost immediately, iHub basher / scammers like "munimi" tried pouring fuel on the fire.
Meanwhile, top traders seeing the opportunity were able to secure shares primarily in the .1300 > .1600 range and - by ask hitting - get a reversal up to .2500 in a fairly thin manner.
After alerting the actual action and opportunities both here and on iHub, trading settled down somewhat with bids in depth at higher levels .1450 > .1650 filling and the ask being extremely thin to .2000+ again.
Paradoxically, traders who were able to observe and trade throughout the session - and react quickly enough - were able to make multiple $4-figure profits whilst also reloading an inventory of shares at a variety of the cheaper price points for trading to the upside. I certainly made more today than I would have otherwise.
A relatively small number of people secured the majority of the cheapest shares (deduced from observations and a process of elimination compared to my own trading).
Doubtless there will be further scam attempts to dupe people to sell - ludicrous prices are being suggested currently - less than half the price held continuously during the 12 months since the aircraft were first acquired whilst awaiting updates. Those who understand the value of the Tristar aircraft fleet aren't going to let that happen.
Bottom line - trade what you see and ideally keep your overall cost basis within the previous banked profits figure or convert to free by trading aggressively from the bottom up. Most people had the opportunity to do that in the last hour of trading even if they hadn't managed months ago on the first significant run.
In early trading, everything was progressing as expected with the small number of shares available under .7000 bought out rapidly, the .7000+ break, a decisive $35K buy at .7100 and the hod .7350 started.
Then, without reading it correctly or providing considered comment, a moron on iHub posted a link to a Form 8-K which stated that the USN is taking "corrective action" and intends to cancel the existing contract.
This precipitated minor selling in the .6000 > .3000 range - followed by panic selling / profit taking on low cost basis shares in the .3000 > .1500 range.
Almost immediately, iHub basher / scammers like "munimi" tried pouring fuel on the fire.
Meanwhile, top traders seeing the opportunity were able to secure shares primarily in the .1300 > .1600 range and - by ask hitting - get a reversal up to .2500 in a fairly thin manner.
After alerting the actual action and opportunities both here and on iHub, trading settled down somewhat with bids in depth at higher levels .1450 > .1650 filling and the ask being extremely thin to .2000+ again.
Paradoxically, traders who were able to observe and trade throughout the session - and react quickly enough - were able to make multiple $4-figure profits whilst also reloading an inventory of shares at a variety of the cheaper price points for trading to the upside. I certainly made more today than I would have otherwise.
A relatively small number of people secured the majority of the cheapest shares (deduced from observations and a process of elimination compared to my own trading).
Doubtless there will be further scam attempts to dupe people to sell - ludicrous prices are being suggested currently - less than half the price held continuously during the 12 months since the aircraft were first acquired whilst awaiting updates. Those who understand the value of the Tristar aircraft fleet aren't going to let that happen.
Bottom line - trade what you see and ideally keep your overall cost basis within the previous banked profits figure or convert to free by trading aggressively from the bottom up. Most people had the opportunity to do that in the last hour of trading even if they hadn't managed months ago on the first significant run.
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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.