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Something just seems wrong with this drop. I didn't think we'd be approaching the 200 day moving average this fast. I thought I'd done well picking up a few more shares when it was -16% down yesterday... how wrong I was!
Small stocks are always going to drift without news, but I wouldn't have expected multiple days of double digit percentage drops, especially as there has been no negative news trigger either. Big seller? Perhaps somebody knows something (well, somebody always knows...)? Disappointing to say the least.
There is no such thing as a "code 1". Code 1s are the result of small time punters trying to influence the market and nothing more. Does anyone here really believe that market makers will print trades of 1 unit to the exchange to let everyone know that news is coming? They are more than capable of making plenty of money from us already.
Source: I work for a UK brokerage. A big one.
I just dipped my toe in the water here. I agree that the risk seems to have been priced in and this buying volume makes me suspicious/curious. Upside must outweigh the downside at this market cap. Finally, something interesting that isn't a tiny mining company.
Always.
You are of course free to put faith in such "signals", but I am absolutely certain that it's nonsense. MMs do not need to play games when they always have been, and always will be, a step ahead of punters like us. They will see moves coming a mile off and react accordingly. The FCA would have come down on this many moons ago if there were indeed any weight to it.
I can absolutely guarantee you that the trade 1 means nothing at all and is simply the result of stupid punter trying to influence the market. MM's do not play silly games like this. They respond to supply and demand and create liquidity as necessary.
Rubbish day of course, but we should probably all chill out. I'm very much writing this for myself too, as I'm the least patient person who's ever walked the earth.
Nothing goes up in a straight line, and when it does, it usually comes down sharply too. The rise from 14 June peaked at over 180% on 2 July. That's a big gain in a short space of time, and one where the momentum would inevitably be tested.
I predict the next day or two will be choppy, and a red open tomorrow is almost a certainty in my opinion. The charts suggest nothing will change unless a conveniently timed RNS lights a match under UKOG's behind.
In a few weeks, where do most think we'll be? I think it's very likely that it'll be a higher price than where we are now, and I see little reason it won't set a new 2018 high by the end of July.
Peace out. Go England!
Does anyone else think that a 20m mcap is still too low despite today's eruption? God knows what will happen tomorrow, but in, say, a month, where could we be? Seems to be high levels of insider buying and institutional ownership, and I guess today proved why!
Just hoping people will act with caution and not dive in head first because the company have Blockchain in the name. I can't remember the name of the stock (possibly PYC or VAL), but someone on these forums claimed to have remortgaged his house so he could invest even more money. The stock didn't go up and he was tied in. What a hideous position to be in. I don't mean to sound discouraging, and I'm not trying to derail the Bloctrain, I just don't want anyone to stake too much thinking "this is the one". For all I know, it could well be, and I sincerely hope that it is! My opinion is buy, but getting greedy in a stock like this is like punching a honey badger in the face... It probably won't end well.
This board was dead and the stock unknown a few weeks back and all of a sudden we've got umpteen genuine holders... Let's all be honest, most of us will flip this or at least seriously de-risk if it does multiples. The only thing going for this stock at the moment is the chart. It looks to have gathered some upward momentum, but that's it; it's just hype. To anyone reading this, particularly new investors/traders, please, do not remortgage your house for this. Be sensible and make decisions based on genuine news and your own in-depth research rather than speculative commentators here. Realising 20-30% annually will get you rich faster than you think. To be transparent, I do have a position here, but make no mistake, this stock is a punt.