Timbo, I understand things look bleak, but for me it was a simple matter of buying stock that is in some sort of trading range. What the general public thinks about it is meaningless to me. This recent sudden demand may be further evidence that the big boys are accumulating it and that the lesser dogs in the pecking order of big dogs are catching on that something is about to happen. While they, the composite man (CM - aggregate of big players, smart money, insiders' friends and relatives, etc), appear to have been accumulating for about a year and a half, they, including the insiders, didn't want the company to look attractive. They've been trying to get the public to sell to them and keep any new pubes out until they are ready to have the public mark up the few remaining shares available to trade.......low supply of stock available with demand >>> rising prices. So far it has built enough cause for an effect to $16.50; a 79% gain from my 9.20 purchase. The only really important question for me would be, is a move from the 8- or 9-area to the 16- or 17-area a big enough move for the CM or will they try to keep it in the trading range and accumulate more? I think we'll find out when it tests the $11-area. Weekly as of Friday's close: Updated P&F using a $0.30-box size and 3-box-reversal
Why didn't you sell in the 16's? Have you been holding it that long? I appreciate your time to respond,and your input. The recent spike is due to buyout rumors. Do you think you will see 16's again. I fully understand the tree shaker effect, but the writing on the wall tells me things that charts just can't do. Hope it works out for you.
I bot it Jan 19th, so still waiting on the 16s. The recent spike could be just the public coming in, but for sure was due to demand exceeding the supply of stock available to trade. So one conclusion you can hang your hat on by this action, is that the supply of stock is in short supply. It appears to be holding price; so I'm thinking it was not just the public coming in and taking quick profits, and as of yet it does not appear to be a pump and dump-type operation. Whether or not it was a rumor, or true that something is being talked about, or just a way for the CM to attract public attention in preparation for the mark-up phase, is immaterial to me. $16? Well yes, that's what the P&F above, appears to indicate. If it doesn't go to 16.50 then it'll go to zero. Of course, another possibility is that it may do both. I'm not sure I fully understand anything but I do believe that every consideration, every money-on-the-line decision is distilled into the chart and the chart has no agenda, it cannot lie, it cannot hide intentions. The insiders and those in the know, do not write on walls, that is, they don't write truth on walls. I know most people do read the writings on walIs and most of them are buy and hold investors that don't have anything better as they have little to no chart-reading skills. After 15 years of trading, I am pretty sure I do. Believe it or not, it is better for me not knowing anything about what is going on with the company. I think I'll give it some more time to see if it builds more cause at this higher level in order to effect a break out of the larger trading range. Thanks for hoping it works out. Daily Vertical Chart:
Staples ($SPLS) reported first quarter adjusted earnings that matched expectations, but the office supplies retailer reported weaker than expected revenues.
Staples to announce sale to Sycamore Partners on Wednesday https://finance.yahoo.com/news/staples-announce-sale-sycamore-partners-200746701.html
So that's that. No sense waiting for the 16's when the Sycamore deal is only paying 10.25/share sometime before December. Went ahead and sold this morning at 10.13 for 10.1% gain. In hindsight should've just sold back in April for about the same price.
Thought this was interesting $10.25 per share huh?.... Tell me that information was not known by "someone" 7 months in advance
It was known all along. If a person actually thinks that insider info, trades ,etc aren't a part of this game I feel bad for them. I said months ago this would never see 16 again. Charts can be deceiving, I seldom use them and have made a killing in less than 6 months.
