Amazon - Its 5th march ding ding, page-191

Brassmad

Couple of your previous posts about holdings in IOT.



20/5/16

I'm committed to holding IOT. In fact I bought more at 9.4cents because of the opportunity it offers.

23/5/16

g'day demon, I understand your frustration., but feel inclined to state my position in support of your comments.
I bought a parcel of IOT at $0.039 and have been buying parcels along the way. Last purchase was at $0.094..... It's just the way I trade, I build my holding as I gain confidence in the company, or cash in.
With IOT, I'm (at this stage) building my share base. I'm not a big trader, only hold a total 170K shares but it is significant cash for me.


Now by the above I'm guessing you are
1. not a big investor $ wise
2. $5-$10k is a significant sum for you
3. You are well underwater if the math above is close to correct
(hoping you sold at or near the high but experience tells me you didn't)?

Ok, so you have held out hope, I understand, it happens.
Now you have gone and bought more at around 3c today.
I'll bet a $1 you have done this after speaking to the IOT team at dinner, it makes sense.


Here are the issues IMO and this is from a trading strategy looking at the stock chart/board, nothing to do with IOT the company per se.

1. The SP is going lower, is a 83.5% probability based on every technical available.
2. 29m of the buy orders are at .001c (they are as good as fake) and I'll bet you $1 the 3m buyer at 3c is fake.
3. So we have at a guess 8m in real buyers and 4 x sell volume, with about 5 times sellers as buyers.
4. Large buyer pulled out last minute today.
5. Sp is in complete downtrend, below is a 30 day chart to confirm




The largest volume (around 13/2) has been sold down to ever since.
Its dropping rapidly on small volume, that is a very bad sign.

The 8th Feb was first peak, the 14th second peak, this made the big M or better know as the double top, then the Sp has hit lower lows almost daily for the past 2 weeks, and has not gathered any momentum to head north as yet.

Anyway, i'm again not talking to you now about the credibility or otherwise of  IOT, this is purely a chat about the chart and why the best time to buy is when the volume increases and Sp heads towards next support.



5 day chart above is even worse, this IMO has also to do with shares coming out of escrow last couple days, some will be sold, no doubt putting further pressure on SP.


I wish you well Brassmad, and others, I do, but I think you may have bought a bit too early based on the above.