Trading Summary / Outlook - January 30. An exce
Post# of 7110
(Total Views: 118)
Posted On: 01/30/2020 6:37:40 PM
Trading Summary / Outlook - January 30.
An excellent day for $SKDI with a surge of .0050 > .0086 following on from .0032 > .0065 yesterday.
As long-term followers of my Watch List and comments here will know, $SKDI was successfully traded for multiple $5-figure profits on surges in November and December 2019 after the company effectively "reactivated" and declared its new CBD strategy and embarked on an intensive PR campaign.
At all times one had to be on the lookout for manipulation attempts as there was a suspect shorter / paid shorter's assistant on the amateur traders' forum iHub trying to dupe people to sell into the bid with a combination of all the usual tactics:
- dropping the ask to create a wide spread.
- stacking a walked down ask with shares he will still make a small profit on if hit (which experienced traders can usually spot and make a mental note of).
- nonsense posts and shorting / selling into the bid to try to dupe those who aren't able to interpret Level 2 data correctly to sell into a larger waiting bid.
Once a few more of the OTC top traders started taking on buying out the walked down ask 2 days ago, this resulted in the more dramatic type of moves we saw in November and December 2019 in the .01 > .1600 range.
Key to this is canceling any sell orders that may have been left over after the close as the MMs often try to gap the stock up - 100% > 400% was not uncommon late-2019. You also have to be ready to bid aggressively too and not be afraid to hit the ask at any price you think you can make a profit on ahead - whether it is the same day or a few weeks or months. Shares get scarce very quickly within each .0020 band under .01 - and within each .0050 > .01 band above .01 - and will be even more scarce when the 88% reduction takes place within a few weeks.
As those who have watched all day will have noted, it was relatively easy to get a move from .0070 > .0086 early on and also to defeat MM ARCA's attempts to get bid bid fills below .0070 - twice I was able to walk him back up to .0075 on my own and make ARCA retreat to .0083, .0169 and at one point disappear completely.
The key to success is to trade around a core position to be held at all times - since this is a "real" company with CBD products and over 110 outlets already selling - and be able to trade intensively as well.
Over a relatively short period of time, it is possible to convert the cost basis of the core to free based on banked profits to date.
I will be trading $SKDI throughout 2020 - as it is a regular earner and also fun for the full-time trader.
Today saw 14M traded and a move from .0050 > .0086.
After .0086 was started, a selfish moron tried putting 500K up at .0085 which caused a lot of amateurs to undercut the ask all the way down to .0074.
Subsequently, all the 100K > 250K asks at each level .0074 > .0080 were taken out pretty quickly - followed by a thin move back to .0085.
After a few shorting attempts aimed at .0070 - mainly thwarted by savvy traders outbidding, we ended up with a close at .0081.
All the above is my opinion and based on how I trade - only do what you're comfortable with - but it works for me.
An excellent day for $SKDI with a surge of .0050 > .0086 following on from .0032 > .0065 yesterday.
As long-term followers of my Watch List and comments here will know, $SKDI was successfully traded for multiple $5-figure profits on surges in November and December 2019 after the company effectively "reactivated" and declared its new CBD strategy and embarked on an intensive PR campaign.
At all times one had to be on the lookout for manipulation attempts as there was a suspect shorter / paid shorter's assistant on the amateur traders' forum iHub trying to dupe people to sell into the bid with a combination of all the usual tactics:
- dropping the ask to create a wide spread.
- stacking a walked down ask with shares he will still make a small profit on if hit (which experienced traders can usually spot and make a mental note of).
- nonsense posts and shorting / selling into the bid to try to dupe those who aren't able to interpret Level 2 data correctly to sell into a larger waiting bid.
Once a few more of the OTC top traders started taking on buying out the walked down ask 2 days ago, this resulted in the more dramatic type of moves we saw in November and December 2019 in the .01 > .1600 range.
Key to this is canceling any sell orders that may have been left over after the close as the MMs often try to gap the stock up - 100% > 400% was not uncommon late-2019. You also have to be ready to bid aggressively too and not be afraid to hit the ask at any price you think you can make a profit on ahead - whether it is the same day or a few weeks or months. Shares get scarce very quickly within each .0020 band under .01 - and within each .0050 > .01 band above .01 - and will be even more scarce when the 88% reduction takes place within a few weeks.
As those who have watched all day will have noted, it was relatively easy to get a move from .0070 > .0086 early on and also to defeat MM ARCA's attempts to get bid bid fills below .0070 - twice I was able to walk him back up to .0075 on my own and make ARCA retreat to .0083, .0169 and at one point disappear completely.
The key to success is to trade around a core position to be held at all times - since this is a "real" company with CBD products and over 110 outlets already selling - and be able to trade intensively as well.
Over a relatively short period of time, it is possible to convert the cost basis of the core to free based on banked profits to date.
I will be trading $SKDI throughout 2020 - as it is a regular earner and also fun for the full-time trader.
Today saw 14M traded and a move from .0050 > .0086.
After .0086 was started, a selfish moron tried putting 500K up at .0085 which caused a lot of amateurs to undercut the ask all the way down to .0074.
Subsequently, all the 100K > 250K asks at each level .0074 > .0080 were taken out pretty quickly - followed by a thin move back to .0085.
After a few shorting attempts aimed at .0070 - mainly thwarted by savvy traders outbidding, we ended up with a close at .0081.
All the above is my opinion and based on how I trade - only do what you're comfortable with - but it works for me.
(0)
(0)SFLMaven, Inc. (SFLM) Stock Research Links
"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.