Member Info for MyrtleMan

Choo Choo - the train is leaving the station... anyone else want to get on board?

By the way, the 50-day moving average was tagged today, it looked like it was a magnet pulling it down for the last week.. maybe now they're tagged it and it's bounced off it we might start to see it drift back upwards.. grasping, I know, but trying to stay positive here. A strong close to see it come close to green or even go green would be even better, creating a very bullish hammer candle..

Last chance to buy around 6p.. those waiting to buy around 5p could be disappointed when the 'avalanche' of shares they expect to hit the market doesn't materialise and it starts to take off again. Lots of weak hands being shaken out here and someone is buying in size (e.g., 500,000 lot filled at 5.94, not at a basement price..)

Market Makers taking the urine there with filling that poor guy at 5p

Buys are starting to appear, finally, but there is a heavy seller capping the SP at the moment. Maybe we're starting to see the turning point..

I'm guessing the only positive news we might get out of today is an indication that the subscription was massively over-subscribed and that investors only got a fraction of what they were looking for, both PIs and IIs. That might suggest a lot will still want to get in and will be happy to start buying in the market again, as we are not far from the placing price as it is. There has been a serious lack of buyers in the market for the last week, there has barely been an uptick as many were waiting on their placing details or to see if it does indeed fall to 5p.. maybe that might get them interested again. That and maybe an update on Shell/BAs position seeing as it is a board meeting.

And that's exactly where it ended up today. I suspect we'll continue to flatline here until after the 16th.

was for £96... calm down.. :-)

I thought they started at 100 for 'I need shares' - is it a variation on 500 or 505? http://www.pennystockdream.com/Market-Maker-Signals

We could see an afternoon move here.. possibly...

There won't be much downward pressure. There is only £1m worth of shares in the retail offer and most will just hold, averaging their entry price down. IIs and funds etc who bought in on the big placing are not after a quick buck here, they invested for the long haul as they see where this is going..

Closed at 8.98p.. beautiful.. should gap over 9p on the open tomorrow and head towards 10.5p

We're coming to the apex of a bullish pennant, looks ready to pop higher.. the move could take it to 9.20p

A few technical points of note. 8.30p is where the trendline drawn from the lows of June 3rd, 12th, 24th and 25th is currently lying, and is temporarily keeping a lid on it.. once we break through it (and it looks inevitable, it is creating a bullish flag all morning), then we could continue to creep higher.

The 23.6% retracement of the drop from the highs to the lows is at 8.23p, next target on the Fibonaccis is 9.86p (38.2%) and then 11.17p (50%).

9 day MA also sits at 8.72p, just above the high today of 8.62p

Garbage. Move along Static

According to the trades list there was an 'Unknown' trade of 300,000 at 5p at 10.04am. That must be a mistake, the print is not showing up on my charts..

must have been a glitch, not seeing 5p traded on my screen..

Maybe not today.. but a close above 9p would be a brilliant start and we could gap higher on the open again tomorrow and gun towards 10.50p..

Yesterday afternoon and today's price action only suggests one thing to me, more good news is coming.. someone always knows more than us poor retail saps, they knew about the news on the way up, they knew to sell in to it before the placing on the way down. Now we're on the way up again, there must be either Govt or Shell/BA news imminent..

FOMO!

There's the opening gap above 7p and the gap closed at 7.32p almost immediately.. bid keeps rising, I think it's safe to say the floor is in and it can only go one way from here. That gap above 10p is a very tempting target now.. the retail placing will have no more impact on this, it's only £1m worth..

Coincidence? I think not..

Anyway, maybe that is the bottom in now and Boris's push will be the catalyst to see us move higher again as FOMO starts to kick in and those who want in don't get everything they want in the placings.. If you really want in, this is still a bargain at 6, 7, 8, 9, 10p.. bag a few more at 5p in the placing and you've a nice entry level.

I still don't get who is selling the millions of shares though.. someone wants out now for some reason, is it really worth scalping a sell at 6p against buying at 5p in the placing? I don't think many will bother doing that..

Buyers keep buying millions, although they keep getting marked as sells. The foot might be taken off the head now though and we might see this start to breath again, they really wanted it all afternoon. Wouldn't be surprised to see this gap higher to around 7p on the open and stay strong all day again... first gap target at 7.32p and then a really nice big gap to go for at 10.45p..