Yes I could have bought it cheaper....but one never knows. I just wish I had bought when I first saw this stock in July when it was trading below 7 1/2
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Sully, I would agree with this concern/risk a month or two ago, but then the recent auction with PJM (utility for the NJ, PA areas), they actually increased their market share by 1% while also increasing the rates they would receive. They now have revenue locked in with their largest customer for several years, so this risk seems to be off the table in the medium term. Yet no movement in the stock to this info.
It is because of their possible los of income from their demand response program in NJ, PA Areas
This could be a major loss of income
I haven't owned the stock long, having "discovered" it in late July. IMO, its value proposition is independent of energy prices. That said it does trade with the energy sector and so falling oil prices have dampened its appeal and added to its volatility.
This volatility provides the opportunity to make trading profits...so right now, I would buy below the 50 DMA and sell a little above the 10 DMA while keeping a base investment for the long term. A riskier but more profitable trade is to buy below the 10 DMA and sell as it approaches the 200 DMA.
This has become a "show me" stock. It will take more than one good quarter to prove that it can make the transition to something other than a low-margin demand response company. Things keeping it down include: low energy prices, the Supreme Court hearing, a management team that loves to grant itself more shares, and a negative tangible book value. Quite a list!
This is a very frustrating stock. Nothing but good news for months and they smoked earning last quarter, yet the stock is not moving. I assume this has be shorts holding it down? Long run it will move up, especially as the shorts start to get squeezed, but I don't understand how that hasn't started happening yet. Anyone have any thoughts one way or the other?
Last earnings were better than expected, but I think it will take another good report to make anyone believe in this company after the debacle. They lost a lot of credibility.
Wouldn't you know it...as soon as, I think I know something the market proves me wrong. Today I guess we will test the 50 DMA. Assuming that holds and ENOC closes above the 10 DMA, I remain bullish.
For the last week or so, the 10 DMA has looked like a bottom on the daily trading. The only exception being Friday and appears to have been caused by resistance to crossing the 50 DMA. The successful cross of the 50 DMA seems quite bullish to me. Today, the 20 DMA crosses the 50 DMA which may lead to some additional investors and confirms the bullish short term trend.
I suspect we will run into additional resistance at the 100 DMA, 9.65, and so that can serve as an upper limit for short term trades. The 200 DMA is likely to provide greater resistance and I would not plan on that being crossed before the next earnings report in November.
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