CEO just sold 125,000 shares. That's on top of the 125,000 he sold the day before and same day the Apollo sale was announced in August. You think he may have been aware of the Apollo sale and traded on that information before it was made public? It's more than obvious...just look at the share prices.
For investors to bid up the share price now is a clear indication of an overheated market. At least a couple of the analysts have figured it out.
This CEO looks out for himself.
Anyone who looks at the 2 year chart can only come to the conclusion that it is an extremely bullish chart.
The shares will get to $2.60 - who knows when? What matters to me is that it is going to get there, and we're being given the opportunity to acquire more shares well below that price.
There was no uptrend before "that news".
No reason for it to move back up on Monday.
Volume is down
Trend is down (no surprise) and will continue
First wave of pumpers have mostly moved along, now those sheep who are always late to the party are buying thinking they're getting a bargain but will suffer immediately as the tiny buy volume (who wants to attempt to catch a falling knife?) will be swamped by the 2 million shares still out there purchased at higher prices waiting to be unloaded on any further weakness. A good number of those shareholders, having to simmer about it over the weekend will likely sell at the open on Monday causing an initial drop and likely moving others to sell. I could see the market makers immediately looking to take out stop loss orders at $2.50 right at the open and with the shares hitting the $2.40s will surely trigger others to sell.
Will be interesting.
Price target = $1.30
Understood - all I'm suggesting is that when you sell, you might consider not selling all of it - just in case you do not get an opportunity to buy back at a lower price and then having to watch the price just continue going up without having any shares. Psychologically I know (from experience), once you've sold, it's very difficult to repurchase the shares when it's at a higher price. It feels good trading in and out scalping 10 or 20 cents here and there (I've done it myself as well)...until it doesn't work and you watch the train leave the station without you.
For example, maybe sell 75% of the large position when you determine it's time to sell, keeping the remaining 25% - then when it falls back to where you want to buy, buy back the 75%. Call it a modified buy and hold - buy and hold a modest amount, trade with a bigger chunk.
Also, I think we may see a bit of a run up into earnings as we saw last quarter, so don't wait until it's too close. Just my thought.
In any case, hopefully your strategy works out - I think everyone is looking for an edge these days. Mine is to be patient when buying and selling - buy in smaller blocks on the way down, sell in smaller blocks on the way up. I have a tendency to be very impatient wanting to plow in to a position when buying, and then unload it all at once when selling. What I've found is that I'm generally getting in a little early and out too early as well and when that happens it's difficult to continue watching the shares go lower after the buy and higher after the sell. Though I've done well this past year, I probably could have done better having more patience - New Years resolution for me.
If you want to try and trade the stock, knock yourself out. However, I think there are enough people here who understand the normally low trading volume, normally wide spreads, and general difficulty in buying shares. I think that the latest movement in the stock and more general ease in purchasing shares is a result of people who plowed into the stock after the last earnings report, ran the shares up into the $2.20s a couple times, and have now adopted a trader mentality such as your own.
Be aware, that there will come a time when the stock advances, and it is not going to pullback enough for you to buy, or buy as much as you'd like. If your objective is to trade, then the better plan is to pick up a chunk of shares to buy and hold, then pick up another chunk for trading. That way you won't get left behind when the breakout to the upside comes.
If you look at the chart for the past 2 years, you will see that it is extremely difficult to trade this stock. If you sell on an advance, generally it does not pull back enough to where you'd want to be buying again. My belief is that your expectations are not correct as it applies to ITI shares - this is simply a short-term purging of folks who think similarly to you, as traders - they bought high, see a 10% pullback, get scared, and unload their shares.
Read the last conference call transcript, review the financials, read through the latest press releases.
The outlook for 2014 was already very optimistic. With the government/budget issues resolved, more Federal/government money is going to be made available and that means more business that was previously being held back.
Nothing wrong with trying to get a better price - but the company is buying back shares, and they may not let it fall back to where you are wanting to purchase. Mid-$1.90s may be the best you can hope for. If it pulls back to the mid-$1.80s, though I seriously doubt it, I will double my already large and growing position.
Won't even hit 1 million shares today.
Remember, it is going back to 25,000 shares a day and less. It traded zero shares last Friday and 14,900 for the entire week - think of that! Who is going to buy your shares???
Price target = $1.30
They are going to post another quarter of declining sales and another quarter of losses.
That's your good news.
If you're posting that you're looking forward to the earnings announcement, you clearly don't know this company and are stuck. Feltl loves you!
Price target = $1.30
You aren't going to get many more chances. The slaughter is right around the corner, then volume dries up, then the shares slowly trend back down again.
Price target = $1.30
The current share price is a negative because the news was nothing so important to warrant making company worth three times more in the span of 48 hours - they are still losing money and sales are still declining. This update to the existing SmartVest does not change any of that one bit.