Homing Pigeon candlestick today...
All factors pointing to a trend reversal (At least in the short term) and tomorrow should be a pivotal day where it might break out or break down...
Major resistance at 0.04-.0.05 level. I cleared then can end up any where between 0.09-0.16 level.
Welcome to the RS scam...
Sell a lot of shares to raise cash
Spend all that money or lose money every quarter
Do a reverse split so that the shorts can hammer it down
Rinse and Repeat
Just playing catch-up on the filings.
The fricking management wants 1:100 to 1:400 reverse split?? Shorts/MM etc... will hammer this back to pennies! My play is very simple... Wait for some pump up PR and let it pop a few pennies take your $$$ and run before the RS. (There is time until June-30th)
For the nth time... It is the weeks of the 15th and not a particular day. We will see if this was a pp & dump on May 6th for the new share holders or is there any substance to it?
Thanks... I missed it as it was right on the top. But looks like only about 9.2 M have been issues which would be the float size. Is there a vote o=for an impending RS? or was that information from last year?
1) Does any one know the company already got the votes to do a RS (Isn't the voting deadline June-3rd?)
2) Is 15 Million shares outstanding correct? If yes, what is the near term dilution threat?
I'm just in for a trade... just wanted to know if anybody has this information. Thanks in advance!
Even at that point the decision might have not been made... But, they will do something to muster enough votes for another reverse split.
Only 300 K shares added by shorts. That is not a lot, but the point being that a sudden gap up can take these shorts by surprise and could lead to a decent squeeze. It all boils down to tomorrow's earnings... If BTU were to surprise to the upside then expect a very powerful move to the upside.
The only silver lining is that the intra-day volume looked like accumulation.... Low volume sell-off and some bigger volume sudden buys. We will know tomorrow of the next big move is up or down... But, what seems to be certain is that a big move is definitely coming!
Wave-3 or Wave-C will unfold... but, Up or Down is TBD :)
No explanation for the 5.5 M shares volume on Oct-st, 2015. it was not short covering... No clear who sold? who bought? But, should know more by Nov-10th, 2015.
As of October-15th, 2015
Current SI: 6.2 M Shares
Prior SI: 5.9 M Shares
Increase (# Shares): 300 K
Increase (% Shares): 4.7%
SI as % of Float: 33.6%
Shorts added around 300 K shares during the recent run up from $17. Tomorrow's earnings release should move the stock in a big way in one direction or the other, hoping for a big upside move and to challenge the $28-$36 level first.
The next price move should be rapid and relentless, but oddly it is possible to have a Wave-3 price action on the upside or the downside. Although, I favor an upside move rather than a downside move... both of them are quite possible. What we do know if that some resolution is bound to happen this week...
Impulsively break $28 for starters and eventually $30 & $36
Wave-1 or Wave-A = 14.85 - 41.10
Wave-2 or Wave-B = 41.10 - 16.35
Wave-3 or Wave-C:
Wave-i of Wave-3 = 16.35 - 28.00
Wave-ii of Wave-3 = 28.00 - 22.03
Wave-iiii of Wave-3 = ???
Impulsively break $20 for starters and eventually $19 & $16
Wave-1 = 41.10 - 16.35
Wave-2 = 16.35 - 28.00
Wave-3 = ???
Bollinger bands have converged and short-term moving averages have converged as well. Big move is imminent, direction is the million $ question. Volume suggests a higher chance of an upside move rather than the downside.
A 0.6% Decrease and now 5.92 M shares short!!!!
As of September-30th, 2015
Current SI: 5.92 M Shares
Prior SI: 5.96 M Shares
Decrease (# Shares): 38 K
Decrease (% Shares): 0.5%
SI as % of Float: 32%
No surprise that the SI has hardly changed... The daily volume was relatively low. The next report should be very interesting considering big price swings on very big volume since Oct-1st, 2105 (After the reverse-split)
Bollinger Bands have been converging and range is getting tighter. Generally, this is a precursor for an upcoming BIG move. But, the million $$$ question is to the Upside or the Downside? The last time it happened in August, we got a strong upside move... Which way will it go this time? I would give a 70% chance that the violent move is going to to the upside...
Just one day left.... Good chance of some filing coming out tomorrow. If it does come out, Will it be during trading hours or after hours? Should be interesting to see how it plays out....
A lot of algorithmic trading that triggers BID/ASK levels is your answer. 80% of the trading today is by machines and they automatically pull out BIDS or take out ASKS depending on the volume and trend.
For Ex: Price was pushed from $28-$26 in just one minute on a volume of 140 K shares. The BIDS disappear once they are hit with BIGGER volume. Just like what happened on almost all stocks on Aug-24th.
" 100 DMA, Kijun-sen, downtrend line all of them stacked above the current closing level ($27-$30)"
Rest my case...
Today's low of $22.75 is approx. 38.2% retracement of the move from 16.35-28. We have to see tomorrows price action for the next wave count
The pattern continues... higher volume on GREEN days and much lower volume on RED days. Resistance band $27-$30 and a big level @ $36-$41. Will have to wait and see how this plays out....
Another BIG up day (35%) on BIG volume (3.23 M, 48.5 M shares pre-split). It does appear to be a impulsive move, but follow through is the key. I still expect somebody to be filing 13-D/13-F on/before Friday.
If this is indeed a Wave-3 or Wave-C then the move should be powerful with gap up... BTU has a kumo-twist and potential kumo-breakout, 100 DMA, Kijun-sen, downtrend line all of them stacked above the current closing level ($27-$30). If broken then $40 test is def. in the cards.
If it can get above $41, Almost no resistance between $41-$65 and shoot up to $80-$87.5
But, one step at a time, $27-$30 and $35-$36 might offer a good bit of resistance.