RE:RE:Classic Thinly Traded Stocksbandit69 wrote: bandit69 wrote: When there is no buying interst in an equity, "iceberg" orders start to appear, then a large volume support "bid" price shows up at a lower level not far from the iceberg. Slowly but surely, day by day, the price drops, icebergs get lower and lower, bid blocks also drop and thus the price drops slowly and controlled.
There was a short position of about 245k shares last I checked, not sure what is is at now because of course that information only comes out 15th and 30th if I remember correctly. Just another way to fleece retail investors by witholding information.
Then all of a sudden, depending which way the controllers, whomever they may be, either pull the iceberg or the support volume...most times it is the short side and support bid volumes....thus causing a price plummet. Or, if the controllers, whomever they may be, pull the icerbergs and add a significant bid volume to support the price if they want it to stay in a certain range all while knowing there is no buying or selling support and the chances of either bigger blocks being bought are low. If they are, another block magically shows up on level II soon after In addition, Canada is well known for naked short selling. Selling shares that don't exist.
It won't surprise me to see a large cross trade show up eventually to enable someone to get in at the preferred price range. I can't say that for sure of course but it won't surprise me. If it does, I will see it and report it here.
Welcome to Canada. :)
Yesterday at about 3:47EST a huuuuge trade of 1000 shares bumped the price up to +.03 to .68 and sold by our friend "anonymous". Low of the day was .64. This morning the price magically opened at .64 and strangely our friend "anonymous" (welcome to Canada) has done the buying so far as of this writing.
These are the facts. You draw your own conclusions. :) hahaha
today the berg sits at .69 and support block sits at .59 both about 40k shares. I have been watching and tracking this closely as always and will continue to track. These buy/sell volumes have been consistent each stage lower for the past several weeks.
It is important to become intimate with an equity since knowledge is power...power that politicians and many many others in society don't want you to have because it is easier to pick pockets of those who blindly follow and trust. Like many utility co's, especially telecommunication co's that creep your bill, contract or not basing their creep on the fact that the majority wil not notice or will let go since it is "only" a dollar or two.
But, add up the number of those picking your pockets like this and it adds up very fast. People are surprised when they actually sit down and add it all up. It is like the old take a penny and double it each day and you it gets to a large number very fast. That is the power of compound interest and pickpocketing. hahaha
$5.3 MILLION by day 30...yes...million. Impossible you say? look here or simply do it in Excel if you don't believe.
https://www.newtraderu.com/2013/08/19/how-much-does-a-penny-doubled-every-day-for-month-end-up-being/
anyways, end rant. hahaha