I missed $CIE: Hanging there, Nice Sideways~
This trade that I missed $CIE. This stocks has been low valued for long time. And even got reversed last summer. I’ve been watching but I missed. If I hold it on Fri. I could short at 0.61, and 0.5. I did not because I could not get my entire shares short. I wanted to have 7500 shares short. 900 here at 0.61 and then 2100 at 0.5. I just waited too long. Perhaps the company was going to sell the shell or properties before the bankruptcy(announced it could be happened around Dec). Then the price could be higher than 0.70 cent. You know when you have this type of sideway price action for many hours. You have to take it. It will dry up. I wish I did 3min earlier short 6000 shares at 0.50, but it dropped quickly. However, I couldn’t get any position at this time. The big drop and ok-volume 1M. Trade 30,000 shares a min. This pivot point is very important when it cracked sideways. You should see at 0.56 . I could put a limit at 0.61 looking back on this fix I could short 5000 shares. And by the time I put a limit order at 0.61. It was 0.72 cent high. 0.11 cent different. I could get all 5000 shares out. And $500 costs me. A day ago, it was haning 0.69. It was still up on the day. It’s still way up, but actually I could take off 7500 shares(just to be prepared). Then it might get some panic at 0.50 cent closer to the gap higher 0.42 cent. That was ideal. 2000 shares at .50 cent. 5500 shares at 0.40 cent. It’s roughly almost 0.30cent per share. You can see it’s nice but there was a big bitter holding 2.5 million. It’s being all day with 20,000 shares. It comes in everyday now. They are going to keep speculating legally or this company hire a company to promote or get the list back in Nasdaq. That they can be at least 5 Million dollars’ equity, share holders’ equity. They only have 1Million shares out there(less than). Every single shares were traded twice. Now they become very small company. If it’s above $5 share to be able to repeat in Nasdaq. This is a kind of funny. Nasdaq listing play. This was pumped 45% in two days without a news. I think a firm out there this company is hiring that is doing the spike for them. I know there might be manipulated wrong, analytical, illegal, non-ethical.. who knows.
More importantly, this sideway cracked is Perfect for shorts!!!! You could find many sideway price action like this from 7 to .20 cent in a few days. This is a type of morning stock panic. That is the begging and the end~ Gradually take off a dollar a day. You could get solid profit! Sure it might be risk to buy or short because of gap-up in the morning. But you could figure out a good position in between quickly for the sideway price 0.60 cent(at least). Defiantly, at 0.58 I should. It’s such a company going to be bankruptcy. I was not sure when it the due day. It is a good pattern. If you can look back 100 days. $CIE had same happening near 0.42 cent. When 0.49 was crashed, it was always a spike in one or two days. I missed this buy. It was too quick and too chopped. It is not exactly buy and short same pattern but sideway price action is similar, but I don’t know how high the price goes up. Downside is much easier. CIE has been failed many spikes. This spike will be failed too. I might take this tomorrow. Smaller gained I want.