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Posted by: ChartFreak
In reply to: None Date: 9/6/2005 10:02:05 PM
Post #of 54
I agree,...
All the major exchanges (S&P 400, 500 and 600, DJIA, Nasdaq) bounced off their lows about two weeks ago at higher levels, and today (Sept 6) they clearly confirmed the next uptrend. The turn-around is partially seasonal, since alot of cash was on the sidelines while people took vacations the last two weeks of August. Now, it's back to business as usual and money will flow where there is positive development. And Siteworks is expected to have some considerable development going forward.
It can be frustrating to wait. Been through this many times before. It's these doldrums that test whether you are a swing trader or not. If you can't wait, I'd suggest sell, and let someone with stronger hands take over; no offense. Technically speaking, this stock is one of the best OTC stocks out there right now, but watch carefully when it first undergoes a little pop; there will be impatient sellers dying to get rid of their stock for a 60%-100% profit (.05-.06 area). Then, a week later, maybe two or three, they will kick themselves for selling too early. This one appears ready to undergo an actual rally, not just a quick intraday spike.
The Pluses: SWKJ has a legit business plan. There are many places in the world right now either undergoing massive development with huge influxes of money, or they need development very badly and are about to undergo a development stage. The population of the world, despite attrition through wars, disaster, etc. continues upward at exponential rates. Anyone who is talented and strategic in accruing work in construction will do well. Most companies like this are on higher exchanges, but I think if Siteworks continues to develop its business plan, they will literally explode. The closing of the loan on the Chiefland Walmart was a great sign, ie: passing the test with financial lenders, since it means that a financial analyst signed off on their financial history and trusts that they will get their money back with interest. Likely more of this will come (first loan is always the hardest).
And finally, but most importantly,... the oustanding shares. The small float is getting eaten up everyday. There was 130 million O/S on August 17th. 87 mill of those are restricted, leaving 43 million. I know of a group of traders led by a financial advisor (who I have been in contact with) who own 26 million, and there's another small group of individuals (message board members) who own about 10 million between them. That leaves about 7 million shares 'free-floating'. Now, 20 million shares have traded since August 17th; that includes some shares going back to the MM's, and trader-trader exchange. However, it is not long before there simply cannot be more shares being put on the market by the MM's, since, in my opinion, they have all been bought up by now. Certainly it cannot be too long before, through simple supply-and-demand dynamics, the stock starts a legitamate upward trend / rally.
Hopefully it acts like MBAH (another old-school stock) did last year. It meandered all summer, then the day after labor day started it's rally; take a look at the chart and you'll see what I mean. It went from .017 to .40, but it took until mid-November to do it. That's about 55 trading days over a 2.5 month period and a 2200% profit. And that was based on a motorcycle insurance and subscription plan. I think SWKJ is more legit than that was.
When news starts to pepper the market here and there about SWKJ, it will likely continue to send this one higher and higher over time.
Short-term Patience = $$$
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