Yeah something big is coming, bankruptcy. The show is over the pump worked. Holter and Hoffman are out and a bunch of day trading momentum players got fleeced. It really didn't take much to gun this stock, some big buy orders, some option buying, and some posting on Stocktwits.
Last time the pump was in full force someone published news of a fake upgrade. Looks like the effort generated enough volume to allow Holter, Hoffman and the other guy to exit. Maybe Sincliar can convince them to reinvest.
Only today did the stock trade 3 million shares. Prior to this anomaly, the stock was trading about 250K per day. The instantaneous impact of a 60K buy was significant.
It is no coincidence that this surge in price occurred during a seasonally slow period. 9 Days and counting...
You can do math congratulations. I added more on the way up. I will have the last laugh. The stock has traded about enough volume to get Holter and Hoffman out.
Fundamental short. Did anything change on the ground? Somehow I don't think assembling the crusher added $60 million of market cap. This stock is a zero. Pump and dumps end badly. There has now been enough abnormal volume on traditionally light trading days for Holter and Hoffman to be out.
why? This is the greatest gift, an opportunity to short at ridiculous levels. The pump and dump will end soon enough. The action in the stock does nothing to change the fundamentals. No gold materialized and no cash filled the coffers. I can guarantee that assembling the used crusher did not add $70 million of market cap.
To highlight to insanity of TRX believers, I observe that some clown paid $1 for 3 Jan 2017 $1 calls. with the stock at $0.86. The lunacy of the trade is the purchaser expended more capital than required to buy the stock, the position has a potential loss of $0.14 more than buying stock, and the position is $1 per share less profitable than buying stock.
More trading in the Oct $1 calls 152 trade, all on the bid side. Not big by regular standards but interest in options has been non-existent for months.
No it was no bid x $0.05 going in. The 0.05 x 0.10 market followed. Normally I would say that someone is monetizing the embedded option that Sinclair gave away for free in some financing deal but I can't think of anything that is outstanding.
This incongruous with Energous' claim that the Watt Up won't change the price point of the device and the transmitter will be included in the box.
I don't have any bitterness towards Sincliar. I do though have a very low opinion of his ability to run a mining company. Sorry to shatter the illusion but eventually everyone finds out there is no Santa. The bottom line is he is just a bs artist there are plenty of those in the world. No need to be angry. I've never been a shareholder and I've never been a CIGA. So I didn't lose any money because I followed him or believed in him. His incompetence combined with the irrational behavior of his shareholders allows me to profit.
Congratulations. I've never said you can't make money trading this stock. I prefer to do it from the short side as that aligns with the fundamental outlook. Also the trend has been negative over the last five years. Looking at the chart there have been about 15 times over that time frame where trading from the long side has paid off. I just don't like those odds and wouldn't play them.