Volume proceeds priceMy opinion for whatever it is worth is that long term this stock is a screaming buy. A true value oriented gem trading at a ridiculous forward multiple. Thats it, take the emotions of today away and look at the chart. Europe, double dip, deflation etc etc etc. There is always a negative to focus on if you want.
My take is the stock is low. Buy low sell high.
it might go lower yet.
Bought today, a little more. if we fill the gap would gladly buy a little more.
I think a large position needed to be moved. this thing has seen the offer filled in with endless supply. I go back to a post someone made about 2 weeks ago where they said they would be bid a 100k at 78 in 15 minutes. You know that bid held the stock over 78 for days.
Now we seem to have triggered the number where the volume is crossing out what needs to move. Someone is obviously taking on the position and I would think they should be very happy with it longterm. I was buying this stuff at 18 cents to sell it at 21 for a nice 3 cent profit only a few years ago. Was great value then as it is now. Will have to repost we were buying at 78 and complaining it was going down a fews year from now.
The chart is setting up for an explosive move. Volume is great, those who want to sell seem to have found the buyer.
Volume always proceeds price. the value warrants a much high share vlauation so if the volume is calling the next direction my say is up. If it is down well then I say I can alway place some more bids.
I have a little position I have wanted to add to for months. The stock just hasn't ever given a reason to get in. yes the obvious news is all positive but the stock doesn't react and the sellers are ever present.I think with the amount of volume the last few days that the sellers may have been offered a bid (finally). I played a hunch and took some today just in case. When this seller(s) is finally done this puppy is going to spook over a dollar in a wink.If I guess right I am within 10 percent of the bottom the difference won't be one future days high low differential.
I would like this company get away from penny stock status. Looks minor league. Lots of manged funds won't touch this at these stock price valuations. if the stock split 5 for one and the price was now close to $4 you get the marginability of the stock and a market price that warrants consideration from funds.
Would be nice for the stock to just trade up through 2 naturally but management would always be able to play that card and kickstart this thing when they get serious.
Either which way i say the bottom is near and we start a new trend the other way soon.
Size matters
I'm just a little longer
Have a great weekend
LC