SKNN came up on my volume breakout alert last week. I put it in my watch list and researched the stock a bit. I liked what I saw, they have a revolutionary 'shoe concept'.
What they do and when you can get it http://biz.yahoo.com/prnews/061102/neth014.html?.v=77
Now they are patented http://biz.yahoo.com/prnews/061120/nym108.html?.v=51
Nice, but my main interest is in the chart. The breakout was on huge volume and SKNN moved to new highs. After 4 up days the usual pullback started to play out. And this is where I wanted to make the first entry. My entry criteria is based on my own interpretation of the G pattern (which I have named STEPS Short Term Explosive Penny Stock). I aim to have 2, first on the identified end of pullback and second on the classic G pattern breakout (STEPS). For me SKNN has completed the first part and I am setting a buy for potential second entry.
I will detail later the criteria for my entries (i.e. how many down days, where do I enter on the pullback, Stops etc)
For now though, the chart:
STEPS is so cool 8)
I think it's a great idea you're developing this since one of my main difficulties is buying after a pullback, when it is still down. Watch my NVLS and DIET plays, instead of buying the dips (on an ascending trend, of course), I was only able to chase the price higher, leaving several % points on the table.
Thanks AussieTrader, looking forward for further developments !
Quote from: AussieTrader on November 24, 2006, 01:54:50 AM
SKNN came up on my volume breakout alert last week. I put it in my watch list and researched the stock a bit. I liked what I saw, they have a revolutionary 'shoe concept'.
What they do and when you can get it http://biz.yahoo.com/prnews/061102/neth014.html?.v=77
Now they are patented http://biz.yahoo.com/prnews/061120/nym108.html?.v=51
Nice, but my main interest is in the chart. The breakout was on huge volume and SKNN moved to new highs. After 4 up days the usual pullback started to play out. And this is where I wanted to make the first entry. My entry criteria is based on my own interpretation of the G pattern (which I have named STEPS Short Term Explosive Penny Stock). I aim to have 2, first on the identified end of pullback and second on the classic G pattern breakout (STEPS). For me SKNN has completed the first part and I am setting a buy for potential second entry.
I will detail later the criteria for my entries (i.e. how many down days, where do I enter on the pullback, Stops etc)
For now though, the chart:
Great stuff you are doing with STEPS here, I copied your other post to my collection of best posts, applaud!
I am in SKNN also, entry at 1.46 after Fous turned me on to it. I mentioned in my Bank of America Free Trades thread that I couldnt buy this stock with Etrade, only Bank of America which I thought was interesting... Anyway, I love their concept. I wasnt too impressed by the cautionary tone of the 10Q, but otherwise the fact that they now have a patent is awesome, they really do have a revolutionary concept here, I would love to catch a double on this so that I could get a free shares ride...
Anyway, I have a question about your chart and entry. The arrow you drew to your entry makes it look like you entered on the last red candle day, but I assume you actually entered the next day on the reversal white candle, which would be consistent with what you have detailed with STEPS. In that case, I guess you would have been able to make your trend line to the low of the red candle, then look at the reversal candles forming and determine it was time to enter. If so, did you enter near end of day, or beginning of day? Just curious because you got a great entry price, and I would like to follow your method exactly :)
Quote from: tokyopua on November 27, 2006, 12:08:31 AM
Great stuff you are doing with STEPS here, I copied your other post to my collection of best posts, applaud!
Cheers man, I hope it will prove a profitable system. This is the STEPS post that Tokyo refers to http://www.3stocksonfire.org/trading/index.php?topic=7595.msg78305#msg78305
Quote from: tokyopua on November 27, 2006, 12:08:31 AM
Anyway, I have a question about your chart and entry. The arrow you drew to your entry makes it look like you entered on the last red candle day, but I assume you actually entered the next day on the reversal white candle, which would be consistent with what you have detailed with STEPS. In that case, I guess you would have been able to make your trend line to the low of the red candle, then look at the reversal candles forming and determine it was time to enter. If so, did you enter near end of day, or beginning of day? Just curious because you got a great entry price, and I would like to follow your method exactly :)
Yep you got it. My entry was on the white candle day, my line stopped short on the chart. I used 3 confirming attributes: 1) Open above previous close 2) Support at $1.35 seemed to be strong and had been touched multiple times over the past few weeks. 3) I drew an ascending support per my earlier chart. SKNN had quite a deep pullback so I was able to employ that line in my entry reasoning. If the pullback remained high up on the breakout candles, I would likely not be able to so easy use 2+3 in my confirmatory entry.
Good luck Tokyo, looking for that double ;)
Hey FOUS is in as well, that is #4 on my entry reasoning ;)
Good Trading
SKNN touched $1.72 early this morning, but on puny volume and the bid never held there, so that shows rejection and possible failure at the breakout point. so, I have not opened a breakout position yet but will continue to monitor. Also as a fresh breakout is key to my system and failure at that point is not, I am protecting my pullback buy with a stop in the $1.55 area.
hi,
in at 170.
volume candlestick chart attached
maxi
It broke the 52 week high !! 1.78 now 52 week high ! :o ;D
Strong day for SKNN on a bad day for the markets, it did come back from that early morning rejection of $1.72, so lets see:
If it looks nice, I may join today
hi,
low volume so far . i wonder if this at a double top for now. putting a tight stop a couple of pennies below the 5 day
any comments?
maxi
HI,
i had to be honest with myself and realize i wasn't happy with this trade. i don't like the action today and i didn't like my entry yesterday. it looks bearish (just broke my pivot 172 as i type) it had no strength at that top of 177
so i got out 172.
glta still holding
maxi
Quote from: rickjust on November 28, 2006, 11:23:13 AM
HI,
i had to be honest with myself and realize i wasn't happy with this trade. i don't like the action today and i didn't like my entry yesterday. it looks bearish (just broke my pivot 172 as i type) it had no strength at that top of 177
so i got out 172.
glta still holding
maxi
Well you may prove to be right Maxi, I would prefer that SKNN be taking out those highs with some gusto, but it is finding it hard work. That said most of todays action was transacted above $1.70 and the past 2 days candles just show indecision at these levels, the chart remains indesicive, but it can go either way. I don't know which way that'll be, so I'll just follow my trading plan.
Quote from: AussieTrader on November 28, 2006, 09:08:02 PM
Quote from: rickjust on November 28, 2006, 11:23:13 AM
HI,
i had to be honest with myself and realize i wasn't happy with this trade. i don't like the action today and i didn't like my entry yesterday. it looks bearish (just broke my pivot 172 as i type) it had no strength at that top of 177
so i got out 172.
glta still holding
maxi
Well you may prove to be right Maxi, I would prefer that SKNN be taking out those highs with some gusto, but it is finding it hard work. That said most of todays action was transacted above $1.70 and the past 2 days candles just show indecision at these levels, the chart remains indesicive, but it can go either way. I don't know which way that'll be, so I'll just follow my trading plan.
Agreed it would have been nice to see the expected breakout. As a further consolation though, the drop today occured on the lowest volume in all of November, so probably packs less of a punch. Also, this stock just came up in Terliso's 3 magic line strategy filter, so this stock can now be a "3 magic lines STEPS" combination stock, lol! Finally, 13 ema still racing up to provide us some additional support coincident with the trend line you drew in your charts. Time will tell, but the overall picture still seems bullish.
Quote from: AussieTrader on November 27, 2006, 01:02:07 AM
Hey FOUS is in as well, that is #4 on my entry reasoning ;)
Thats probably the best reason I've ever heard to enter a stock! hehe jk ;)
Im still holding this sucker as well. I wasn't really expecting to see a strait line breakout from the low of its retracement and wasn't it expecting sknn to rise strait back to previous highs so fast. We're do for some consolidation, and i love consolidation. I don't really know why but i feel a lot more comfortable when stocks take a breather for a little bit ;) i guess i just always expect consolidation, so when it comes, im like oooooook theres my baby lets cool off and recharge and then kick some more ass in a couple days lol.
Anyways, there isn't much value in this stock yet. But i think speculation on the concept will push this to new highs soon enough.
-fous
Still following the plan. Today was a low volume inside day which may set up next continuation leg. Looking for a close above $1.72 to get confirmation of resistance being turned to support.
nibbled some @$1.62
Quote from: AussieTrader on November 30, 2006, 08:01:33 PM
Still following the plan. Today was a low volume inside day which may set up next continuation leg. Looking for a close above $1.72 to get confirmation of resistance being turned to support.
Hi Aussie,
I am curious about how to place a volume bracketed order that you refer to on your chart. What exactly is that, and what is your current criteria associated with it, i.e. what volume level, etc. Also, I dont know if I have that with Etrade, do you mind letting me know which service you have? Thanks as always for your help! :)
Quote from: tokyopua on November 30, 2006, 11:10:11 PM
I am curious about how to place a volume bracketed order that you refer to on your chart. What exactly is that, and what is your current criteria associated with it, i.e. what volume level, etc. Also, I dont know if I have that with Etrade, do you mind letting me know which service you have? Thanks as always for your help! :)
LOL, Hey Tokyo, you are giving me too much credit on my Stop conditions. Basically and I like to keep things as simple as possible, I set an alert just above my stop price (in my streaming quotes setup). If the alert fires I will look at the 5 min live day chart and determine if what I am seeing is a selling off that will require action or just normal fluctuations that occur in the day.
Cheers
Aussie, OK, now I understand, thanks for the reply on that.
15 min and 30 min charts for SKNN looking now like they could be setting up to form the handle of a cup and handle pattern, hopefully it does and we get a breakout today or Monday.
Some more volume woud add validity to the current movement, but I'll take it :)
Breakout to new highs in progress, $1.85 HOD as I type ;D Volume is not huge yet, but decent, better already than the last 3 days and about to already cross the average volume line on my chart.
SKNN is in breakout mode, confirmed with volume increase, slightly conservative rough target of 2.25 ;)
Yep that was nice confirmation. NO need for me to post a chart as Tokyo's gpt that covered ;)
I'll just illustrate the technical target here ;)
Pondering if its a good time to sell now or hold it........ ;D
$2.03 (where it is trading HOD as I type) is top of the channel, so it might retrace a little from there if you think you can time it and get back in. But there is still upside based on the triangle breakout beyond 2.03.
Quote from: tokyopua on December 06, 2006, 01:29:18 PM
$2.03 (where it is trading HOD as I type) is top of the channel, so it might retrace a little from there if you think you can time it and get back in. But there is still upside based on the triangle breakout beyond 2.03.
Hope you didnt sell and waited for that "upside" I mentioned, we didnt seem to have to wait long, trading at 2.14 now as I type!
I found the reason for the huge move today:
------------------------------------------------------
Fashion Footwear Manufacturer Boemos
NEW YORK, Dec. 6 /PRNewswire-FirstCall/ -- Skins Inc. (OTC Bulletin Board:
SKNN), developer of a revolutionary, patented two-part, interchangeable
footwear structure consisting of outer collapsible "Skins" and an inner
orthopedic support section called the "Bone," announced today it has finalized
an agreement with Boemos S.P.A., a preeminent Italian manufacturer of designer
footwear and industry leader for over 50 years. Boemos craftsmen will be
responsible for the production of the Skins Collection to be sold throughout
U.S. retailers in 2007.
Boemos has constructed high-quality footwear for Dolce & Gabanna, Coach,
Diesel, and the Kenneth Cole Collection among many others. Mark Klein,
president and CEO of Skins Inc., commented, "We are very excited to be working
with such a prestigious and reputable group. Boemos is an experienced
manufacturer whose polished quality will serve as an ideal counterpart to our
elite brand and innovation. Having a 'Made in Italy' designation by Boemos also
strengthens our retailers' marketing efforts and enhances our profile within
the fashion and footwear industries."
Klein concluded, "The initial response to the unique Skins design has been
overwhelmingly positive and should demand exceed our expectations, Boemos is
well positioned to meet our production requirements moving forward."
About Skins Inc.
Skins Inc. created and is continuing to develop an innovative two-part,
interchangeable footwear structure consisting of outer collapsible "Skins" and
an inner holistic orthopedic support section called the "Bone." The design
allows consumers to purchase one inner section, the Bone, and numerous outer
Skins, resulting in multiple style variations from the same pair of quality
Bones, always with the same feel and fit no matter which Skin is being worn.
Skins' objective is to create a new attire concept that allows and encourages
consumers to frequently change their footwear, while experiencing equal comfort
in all designs of shoes. This uniquely positions the Skins concept between
footwear and apparel industries. For more information, visit
http://www.skinsfootwear.com.
CONTACT: Skins Inc.
Ryan Mulhern, Investor Relations
(866) 633-1060, Toll-free
[email protected] Forward-Looking Statements
Statements in this news release that are not historical facts are forward-
looking statements that are subject to risks and uncertainties. Words such as
"expects," "intends," "plans," "may," "could," "should," "anticipates,"
"likely," "believes," and words of similar import also identify forward-
looking statements. Forward-looking statements are based on current facts and
analyses and other information that are based on forecasts of future results,
estimates of amounts not yet determined and assumptions of management. Actual
results may differ materially from those currently anticipated due to a number
of risks and uncertainties beyond the reasonable control of the Company. These
risks and uncertainties include, without limitation, those detailed from time
to time in the Company's filings with the U.S. Securities and Exchange
Commission, and include, among others, its limited operating history; lack of
profits from operations; uncertain ability to raise additional funds on
acceptable terms or at all; ability to successfully design, manufacture and
commercialize its proposed product; its reliance on one unproven and
undeveloped product type; rapidly changing consumer demands for footwear
products; unestablished brands; degree and nature of its competition; ability
to employ and retain qualified employees; and limited trading market for its
common stock.
SOURCE Skins Inc.
/CONTACT: Ryan Mulhern, Investor Relations of Skins Footwear, 1-866-633-
1060,
[email protected] /Web site: http://www.skinsfootwear.com
(END) Dow Jones Newswires
12-06-06 1009ET
10:09 120606
---------------------------------------------------------------------------
SWEET...two in one day!
Applaud the pic.
Quote from: fous on December 06, 2006, 09:07:09 AM
I'll just illustrate the technical target here ;)
...so now that $2.18 was made what? Should we expect it to test that as support now?
What a great day for SKNN for sure. Congrats all who were in.
I am locking in some gains today and will sell 33% of my position. This is a slight deviation from my STEPS exit rules as that calls for sales in blocks of 50%. My basis for selling is 1) this is the 3rd candle since the breakout point (per STEPS exit guide) 2) Yesterdays move was so powerful it demands some profit be put away. 3) Only 1/3rd because I expect SKNN has more in the tank and I can afford to hold through consolidation to try and catch that.
Remainder will be on a stop $2.05 on a close below or volume backed intraday penetration.
Good Trading
Update: Sold 1/3rd $2.32
Quote from: AussieTrader on December 07, 2006, 09:59:04 AM
What a great day for SKNN for sure. Congrats all who were in.
I am locking in some gains today and will sell 33% of my position. This is a slight deviation from my STEPS exit rules as that calls for sales in blocks of 50%. My basis for selling is 1) this is the 3rd candle since the breakout point (per STEPS exit guide) 2) Yesterdays move was so powerful it demands some profit be put away. 3) Only 1/3rd because I expect SKNN has more in the tank and I can afford to hold through consolidation to try and catch that.
Remainder will be on a stop $2.05 on a close below or volume backed intraday penetration.
Good Trading
Update: Sold 1/3rd $2.32
Sold half myself, will look to add back for sure on consolidation!
Quote from: 422fwhp on December 07, 2006, 09:27:14 AM
Quote from: fous on December 06, 2006, 09:07:09 AM
I'll just illustrate the technical target here ;)
...so now that $2.18 was made what? Should we expect it to test that as support now?
I think SKNN is a bit ahead of itself right now and some of the moving averages need to catch up. SKNN also broke out of any kind of channel I tried to draw for it. Right now if it stays above the channel, that is at 2.16.
Another possible support is 2.10, which is about half of the marubozu yesterday. Another area for support could be $2.00 because it is psychological, and the 13 ema should catch up to that level by the time SKNN could drop that far.
If the current candle today were to close around 2.10 or below I would take that as close enough to a dark cloud cover that I think it could be the case that that support doesnt come in until the breakout zone is tested again. But its looking stong so far at 2.32 again!
This is a great speculative stock, and I am thinking to just hold my last half for the long term regardless of what happens, but its important short term to realize they still have no revenue stream until they start selling. As I mentioned before, this stock is like a shoewear equivalent of a biotech with a great drug in its pipeline, lol.
Forget dark cloud cover from my post below, its trading at 2.43 now, we might see 3 white soldiers instead! ;)
SKNN is following the STEPS pattern to perfection ;)
Read about STEPS:
http://www.3stocksonfire.org/trading/index.php?topic=7595.0
Let's hope for a nice gap up so I can sell then :)
Out at $2.64 ! This may be the best timed trade I've ever made...thanks to ya'll.
Applauds again.
laterz...Jody
Quote from: tokyopua on November 29, 2006, 01:17:46 AM
Agreed it would have been nice to see the expected breakout. As a further consolation though, the drop today occured on the lowest volume in all of November, so probably packs less of a punch. Also, this stock just came up in Terliso's 3 magic line strategy filter, so this stock can now be a "3 magic lines STEPS" combination stock, lol! Finally, 13 ema still racing up to provide us some additional support coincident with the trend line you drew in your charts. Time will tell, but the overall picture still seems bullish.
The T3MLS & STEPS... what a combo!!...applaud all traders in this thread! ;) :D
Quote from: 422fwhp on December 08, 2006, 10:30:46 AM
Out at $2.64 ! This may be the best timed trade I've ever made...thanks to ya'll.
Applauds again.
laterz...Jody
Congrats Jody, to quote Col. John "Hannibal" Smith from the ATeam 'I love it when a plan comes together'
Will update my exit plan on my remaining 50% position over the weekend.
I have opened a new STEPS position in MVIS here is the thread http://www.3stocksonfire.org/trading/index.php?topic=4160.msg80229#msg80229
Nice work Aussie-beautiful. :)
Quote from: 422fwhp on December 08, 2006, 10:30:46 AM
Out at $2.64 ! This may be the best timed trade I've ever made...thanks to ya'll.
Wow...came back after lunch to see it up quite a bit :o Oh well, profit is profit.
Thanks again...Jody
Skins Footwear Named to I.D. Magazine's 'New + Notable' the Year's Sharpest Product List for 2006
PR Newswire - December 11, 2006 08:00
NEW YORK, Dec 11, 2006 /PRNewswire-FirstCall via COMTEX/ -- Skins, Inc. (OTC Bulletin Board: SKNN), developer of a revolutionary, patented two-part, interchangeable footwear structure, announced today that it was named to I.D. Magazine's "New + Notable - The Year's Sharpest Product List" in their December 2006 issue. Skins footwear was among the 75 pages of cutting-edge products to grace the much sought-after design magazine. Interested parties can visit http://www.skinsfootwear.com to view the press clipping.
I.D. Magazine included a picture of Skins unique footwear structure. The caption read: "Thinking you should never have to sacrifice comfort for style, SKINS FOOTWEAR founder Mark Klein invited the design firm Banfi Zambrelli, as well as Koby Levi and Studio Dror, to create a revolutionary two part system: The outside is a collapsible, interchangeable 'skin' that will be available in styles ranging from sneakers to stilettos, and the interior is an orthotic 'bone' that gives the shoe a familiar fit even as its look changes."
Unloaded 12.5% more at 2.94 for over a double (bought at 1.46). Tried to sell 25% but it fell too fast and I only got a partial fill, might still get a chance later but I will be happy to hold the rest even if not, this stock has a lot of potential in 2007 >:D
I sold another block at $2.94 yesterday. Now I am left with 1/3rd of original position.
Now STEPS trade intention was short term explosive gain and that is sure what we got. Just thinking now whether to move the remainder onto a longer term hold approach or to stay true to the entry reasons and exit aggresively on a short term trendline or some such.
Yesterdays action was normal as far as I can see, now I expect some consolidation under $3 to set in. We may even see yesterdays high $3.05 become a new breakout entry point.
1. Introduction
First of all, congratulations to all of you in this great thread, fantastic execution and management of the trade ! AussieTrader has style 8)
Second of all, I was so stupid in not paying attention to this thread (and Aussie sent me a PM on it), just because I was short on time and read "skin and bone", so I thought it was some biotech concept I wouldn't understand without a lot of due diligence.
But no, after all it is the most amazing and simple concept of footwear (http://www.skinsfootwear.com/). I'm stupefied nobody thought of making this earlier.
Well, I'm going to apply my usual analysis template to SKNN, because not always a good concept means a good stock to invest.
2. Profile
Skins Inc. (SKNN) created and is continuing to develop an innovative two-part, interchangeable footwear structure consisting of outer collapsible "Skins" and an inner holistic orthopedic support section called the "Bone." The design allows consumers to purchase one inner section, the Bone, and numerous outer Skins, resulting in multiple style variations from the same pair of quality Bones, always with the same feel and fit no matter which Skin is being worn. Skins' objective is to create a new attire concept that allows and encourages consumers to frequently change their footwear, while experiencing equal comfort in all designs of shoes. This uniquely positions the Skins concept between footwear and apparel industries. For more information, visit http://www.skinsfootwear.com.
3. Technical Analysis
3.1. All History Chart
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=30050;image)
SKNN.OB started trading on the OTCBB in March 2006, after a merger with Logicom.
Volume picked up in November and the stock doubled in about a month.
3.2. Short Term Chart
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=30051;image)
What can I say, there's only one way to this stock, and that's up ! Yesterday's candlestick was bearish, so we can have a bit of consolidation over the short term. I can't wait to study the fundamentals !
(damn it, no fundamental data for SKNN on my "Fundamentals" service, I'll need to check it directly from the SEC filings. Not a problem)
4. Fundamental Analysis
4.1. Number of Shares Outstanding
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=30052;image)
Wow, I love this, not even one share sold over the last three quarters. The current market cap is 34,526,006*$2.7 = $93.22 M.
4.2. Liquidity
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=30053;image)
The company raised $2.52 M in March 20, 2006, through two private placements:
«Logicom, pursuant to the Share Exchange Agreement, effected two private placement transactions in which we sold a total of 3,000,000 units and raised an aggregate of $2,520,000.»
Since then it has been naturally spending the money, since it had $0 in revenues, as you can see on the declining working capital graph. Working capital in Q3 was already negative ($1.06 M), so I'm pretty sure SKNN is diluting shareholder value as speak.
It desperately needs money now, nevermind the perspectives.
4.3. Revenues
Revenues were $0 since inception in May 18, 2004.
4.4. Profits
The company lost ($3,539,481) since inception. Net loss in Q3 was ($677,099).
4.5. Recent News
You can read recent news here: SKNN summary (http://finance.yahoo.com/q?s=SKNN.OB)
5. General Overview
SKNN is a new and very small company (when considering the assets on the balance sheet) with what seems to be a brilliant idea. That idea (which is patented (http://biz.yahoo.com/prnews/061120/nym108.html?.v=51)) is currently valued by the market at $93.22 M.
They just signed a production agreement with Italy's Boemos:
Skins Footwear to be 'Made In Italy' by Preeminent Fashion Footwear Manufacturer Boemos (http://biz.yahoo.com/prnews/061206/new014.html?.v=83)
They say their product will hit US stores starting in January 2007.
I wish they had more colours (http://www.skinsfootwear.com/), because I think the kids are the ones that probably will love the idea of changing their footwear colours the most.
So, considering the stock, here's how I see it: one needs to wait some more time. $93 M is a lot to pay for a concept, and also the company has negative working capital, so it may do a private placement or sell shares in the open market to pay for current expenses. Also, nobody knows how much will the product cost and how the revenue will be sliced between the retailers, the manufacturers and SKNN.
I feel I need more data, I need to see if the product starts selling well (there's the risk of being a flop, because it can be uncomfortable) and the specifics of the agreements. I don't mind paying a higher price for my shares, if I have more certainty.
For now I'm neutral on the stock, good luck to all holding :)
Hi All - I'm confused about the concept. Shoes, in general, are relatively cheap. Are the skins just going to be ultra inexpensive/disposable? Or is the insert going to be orthopedic/orthodic ... or something special like antimicrobial? I don't understand the benefit of why I would want to by a shoe system, when I can just buy a pair of shoes that I don't have to fuss with. Can someone set me strait?
-Samantha
David, thanks for the great analysis!
I wound up selling the 25% final portion of my stock today at 2.83. It was tough because I see so much potential in the stock, but I compared valuations to KCP (Kenneth Cole) which is about 450M (and whose shoes I actually own and see their stores in malls), and figured that the approx 90M SKNN value that David mentioned is just currently too rich until real revenues can be actually made.
Also, the candle yesterday was a bearish belt hold at the end of a major run up, so I expect consolodation down into the range of the first or second tall candle of the Three White Soldiers run (all of this per Nison principles). The final reason for my sell was that it was in my Bank of America account, and there is no commission which makes me feel more free to sell and buy back.
On the flip side, CROX has a valuation of 1.7B and no patent on their idea, so SKNN could just go to the moon and I might regret it if I cant get back in lol.
Quote from: SamanthaStephens on December 12, 2006, 11:08:56 AM
Hi All - I'm confused about the concept. Shoes, in general, are relatively cheap. Are the skins just going to be ultra inexpensive/disposable? Or is the insert going to be orthopedic/orthodic ... or something special like antimicrobial? I don't understand the benefit of why I would want to by a shoe system, when I can just buy a pair of shoes that I don't have to fuss with. Can someone set me strait?
-Samantha
Hi Samantha :)
I think the idea is for you to buy several skins, so you can have your shoes combining with your clothes. For example "today I'll use the red skin because I'll wear this red shirt", something like that. At least I think this should be the business model, like those girls that change the cover of their cell phones or watches to match with the clothes they're wearing.
Yes, skins need to be relatively inexpensive to sell a lot in the market place. I also wonder about those details before taking a more definitive view on the stock.
Quote from: David Randolph on December 12, 2006, 11:16:19 AM
Quote from: SamanthaStephens on December 12, 2006, 11:08:56 AM
Hi All - I'm confused about the concept. Shoes, in general, are relatively cheap. Are the skins just going to be ultra inexpensive/disposable? Or is the insert going to be orthopedic/orthodic ... or something special like antimicrobial? I don't understand the benefit of why I would want to by a shoe system, when I can just buy a pair of shoes that I don't have to fuss with. Can someone set me strait?
-Samantha
Hi Samantha :)
I think the idea is for you to buy several skins, so you can have your shoes combining with your clothes. For example "today I'll use the red skin because I'll wear this red shirt", something like that. At least I think this should be the business model, like those girls that change the cover of their cell phones or watches to match with the clothes they're wearing.
Yes, skins need to be relatively inexpensive to sell a lot in the market place. I also wonder about those details before taking a more definitive view on the stock.
Yes, this is basically the concept. If you look at thier website (David has a hyperlink in his post) http://www.skinsfootwear.com, you can get a sense of how it looks for sneaker style shoes, but supposedly they would have bones that you could use for stiletto heals, etc. No question it is a cool idea, and they have a patent so really they should be pretty revolutionary.
Um... Miss Manners would have you match your leathers... not your clothes. ;) So shoes, belt and bag/purse should all match. For you ... I suppose that's shoes/belt and brief(case). ;)
I asked my hubby if I bought him an insert and a bunch of skins to swap out and he looked at me like I was losing my mind. And then he said he'd put the inserts into the first skin ... wear them till they fell apart ... move the insert to a second skin ... repeat. Granted he's no GQ model ... but I think he's a lot like most guys... if I were to overgeneralize the simplicity of the Male species... hahahahahaHAHAHAHAHA
The styles they have on their website ... are very reminiscent of the old Nike Bill Bowerman waffle iron running shoe that Prefontain wore... which seems like a technology and fashion step backwards.
The issues I see -
*Guy/Guys and shoe horse women like Amelda Marcos ... or my buddy Nicole... will just buy shoes.
*People who don't care about shoes ... won't be buying a system to resolve an issue they don't have.
*Sport shoes are so high tech now ... I don't think an insert system can compare for performance.
Who does that leave? The poor - who can't afford to overbuy the skins and "trendy" guys... ???
-Samantha
LOL, I get asthma if I laugh too much, so please stop Samantha !
QuoteWho does that leave? The poor - who can't afford to overbuy the skins and "trendy" guys... Huh
-Samantha
I'm sure this isn't a product for the poor, or it wouldn't be made in Italy, but in China. I think this just leaves "trendy".
I'm not thinking so much about guys, but girls (well, and some guys, but not me, I'm your husband's style on shoes). Girls between 10 and 25 years old. I guess that should be the target market for SKNN.
Well, girls have different covers for their cell phones, why not different covers for their shoes/snickers?
But you brought up a good point Samantha, the target market for SKNN is probably smaller than for other companies in the same industry, so maybe, although it looks like a cool concept, it will trade at a below average valuation if/when the business matures.
FYI
Only 2 months after being charged with pump and dumps from the Secretary of State of Massaschusetts, Geoffery Eiten is up to his old tricks. In a recent mail piece, Eiten reccomends investors purchase shares of fledgling shoe company Skins Inc. (SKNN). With a market cap of $100 Million and 0 revenues to date, Eiten wants us to beleive that footwear is the new bio-tech.
For the full report go to
www.stocklemon.com
Quote from: purple on December 12, 2006, 03:11:15 PM
FYI
Only 2 months after being charged with pump and dumps from the Secretary of State of Massaschusetts, Geoffery Eiten is up to his old tricks. In a recent mail piece, Eiten reccomends investors purchase shares of fledgling shoe company Skins Inc. (SKNN). With a market cap of $100 Million and 0 revenues to date, Eiten wants us to beleive that footwear is the new bio-tech.
For the full report go to
www.stocklemon.com
Wow, stocklemon can really kill a stock, I am actually surprised that SKNN held up so well given the beating that they gave it. And it is funny that they used the same analogy that I have, i.e. that this stock was behaving like a biotech given it had no revenues.
Anyway, SKNN bounced off of the top of the channel I had it trading in last time, will try to post that chart soon. I still see negative momentum down just based on the chart, and possible follow on effects of the stocklemon article, so I dont think it is likely I will try to re-enter tomorrow.
Quote from: purple on December 12, 2006, 03:11:15 PM
FYI
Only 2 months after being charged with pump and dumps from the Secretary of State of Massachusetts, Geoffery Eiten is up to his old tricks. In a recent mail piece, Eiten reccomends investors purchase shares of fledgling shoe company Skins Inc. (SKNN). With a market cap of $100 Million and 0 revenues to date, Eiten wants us to believe that footwear is the new bio-tech.
For the full report go to
www.stocklemon.com
I downloaded and read the documents filed by the Peoples Republic of Massachusetts. Apparently, this guy didn't pay his tribute to the state and now they are coming after him. They say he is operating without a license.
Massachusetts is not a bastion of freedom. Rights guaranteed by the US Constitution are only granted after paying the appropriate licensing fees to the state. You have to register your firearms with the state including your shotguns. Last time I checked the right to keep and bear arms was the second amendment and to my knowledge it hasn't been repealed. Massachusetts you may remember is the state that told the world it's okay for Adam and Steve to be "married". If you want to sell your house in Massachusetts you have to make sure the septic system is upgraded at your cost. Doesn't matter if you have lived there 20 years, if you want to sell it you have to make it adhere to the new code.
Freedom to murder your girlfriend by drowning her in a submerged automobile is only allowed if you last name is Kennedy. I'll bet Teddy doesn't have to register any of his firearms either.
According to the documents I downloaded from http://www.sec.state.ma.us/sct/sctnat/natidx.htm you can't promote your investment newsletter without a license. Your investment newsletter may be your opinion about how stocks are performing good or bad, but in the Peoples Republic of Massachusetts you will not exercise your 1st amendment rights with out paying the appropriate fees. Failure to do so will get you a 52 page complaint complete with 227 pages of exhibits. Never mind the fact that you put a fine print disclaimer on all your marketing materials, that is of no consequence. You didn't pay your fee, so now they going after you. Prosecuting you for this is much easier than prosecuting a Kennedy for murder.
Taxachusetts the Pay State. I had a 1974 Mercury Comet in 1985 and I got a bill from the town of Plymouth stating that if I failed to pay $1.24 in excise tax they were going to revoke my driver's license. $1.24! Excise tax is what you pay for the privilege of owning an automobile. I didn't have a checking account when I was in high school, so I went down to the townhouse with $1.25 in cash, they did give me one penny back in change.
I'm not a lawyer, but from what I read this Geoffery Eiten is guilty of making money and not paying his tribute to the party bosses. I'll bet Geoffery Eiten can drive his automobile across Dike Bridge in Chappaquiddick at night without going in the drink though.
SKNN is listed as a client of Geoffery Eiten's OTC Financial Network here: http://www.otcfn.com/sknn/index.html and I did get a brochure from his firm. I get lots of these from firms like his. I did the same thing I do with all of these so called recommendations I make a note of the symbol and load it in QuoteTracker to keep an eye on it. I see some of you on this board have found Medved QuoteTracker too. Good program and it won't cost you and arm and a leg. I keep track of it in another program that will cost you an arm and a leg and it's telling me this is still a good stock to own right now. The MACD buy line is still way above the sell line and the moving average line is still going up despite today's drop to $2.58. The software tells me to stay in so I'm staying. Perhaps it's going a little down before it goes up again.
SKNN is a new and unique product. They had the foresight to patent so that means exclusivity. No copycats driving your products price down. Interesting idea, sort of like you keep the same rims on your car and replace the tires, you keep the same Bones on your feet and put different Skins on them. This will probably free up some closet space as the Skins won't take up as much room.
As for stocklemon....with a name like that does anybody believe any stock they talk about could make any money at all? Sort of like trying to get a good business review from scam.com.
Quote from: AussieTrader on December 12, 2006, 07:57:40 AM
I sold another block at $2.94 yesterday. Now I am left with 1/3rd of original position.
Now STEPS trade intention was short term explosive gain and that is sure what we got. Just thinking now whether to move the remainder onto a longer term hold approach or to stay true to the entry reasons and exit aggresively on a short term trendline or some such.
I stayed true to the STEPS methodology and stopped out around $2.5. There will be plenty of opportunity to re-look at SKNN over the coming weeks I am sure.
Stocklemon, defenders of the truth ??? Lol.
Will keep on watch
Barry, I agree with you in principle about stocklemon, but I have learned to respect them and Motley Fool in terms of what they can do to your money, regardless of if they are right or not. Motley hurt me in NVAX with one of their cut and paste crap newsletters where they just change the name of the company they dump on periodically. Were they right? No. Did NVAX go down? Yes.
I love the SKNN idea, and am looking for re-entry if the chart tells me to. But check out the power stocklemon had on another penny called STTK on April 4th this year from this article:
http://64.233.161.104/search?q=cache:PHS2DJ9R6HYJ:www.stocklemon.com/04_04_06.html+sttk+site:www.stocklemon.com&hl=en&gl=us&ct=clnk&cd=1
STTK never recovered and from its peak of 1.7 fell to where its trading at .23 today. Granted, totally different stories, but it does show that people listen to stocklemon, and that is all that counts unfortunately when it comes to stock price.
Here is the STTK chart showing the huge red candle due to the article:
Quote from: AussieTrader on December 13, 2006, 12:39:27 AM
Quote from: AussieTrader on December 12, 2006, 07:57:40 AM
I sold another block at $2.94 yesterday. Now I am left with 1/3rd of original position.
Now STEPS trade intention was short term explosive gain and that is sure what we got. Just thinking now whether to move the remainder onto a longer term hold approach or to stay true to the entry reasons and exit aggresively on a short term trendline or some such.
I stayed true to the STEPS methodology and stopped out around $2.5. There will be plenty of opportunity to re-look at SKNN over the coming weeks I am sure.
Stocklemon, defenders of the truth ??? Lol.
Will keep on watch
What else do you have on watch these days Aussie? I saw you got in MVIS, but I think I missed the boat there. I have been watching TTP and CSLR recently. David called a great short on CSLR, so not sure about it, but it is looking like it might reverse soon.
BTW, looking forward to your revised STEPS criteria. I went back and read the Elite G thread, and I understand it all now better having read STEPS, you made it easier to understand, thanks!
Stocklemon bash V's SKNN news releases, let the battle commence:
- Spring Collection Available in Early 2007 -
NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Skins Inc. (OTC Bulletin Board:
SKNN), a developer of a revolutionary, patented, two-part interchangeable
footwear structure, announced today that over 30 high-end retailers,
representing 50 stores nationwide, will begin selling the
Company's revolutionary footwear line in early 2007. The Company's "Skins and
Bones" will be sold in a multitude of high-end retailers including Littles of
Pittsburgh; Footwear Etc.; World Class Footwear; Abbadabbas; J Stephens Footwear
and Sportie LA.
Leading retailers across the United States had the following to say:
"Skins is the most innovative, revolutionary concept I have seen since I have
been in the shoe business." -- Joel Sigal, President Littles of Pittsburgh
"Gilbert and I are excited about Skins' brand new approach to footwear. It is
revolutionary, yet practical. The consumer is looking for new and functional
shoes. We believe very strongly in the concept and are willing to place a very
substantial order to back it up." -- Elie Monarch, President Footwear Etc.,
Sunnyvale CA
"It's a one of a kind practical idea with functionality and engineering, the
shoes have body and sole." -- Barry Hanna, President, World Class Footwear,
Miami FL
"Skins is one of the most exciting and innovative concepts I have seen in the
footwear industry. Nothing like it exists and the immense amount of
time obviously spent in formulation and execution of product will assure
the success of the line. Applause to all involved!!" -- Janice
Abnernathy, President of Abbadabbas and CoolShoes.com, Atlanta GA
"Skins is the most unique footwear concept in years. They have combined fashion
forward design with advanced comfort systems and delivered both on a remarkably
innovative chassis. We have the points and features we need to engage our
consumer in a meaningful dialogue. This helps separate our stores from the
competition." -- Gary Hauss, President, Group Nine Associate d.b.a. J Stephens
Footwear, West Hills CA
"Finally, a footwear brand that will stir up the industry not only by its sheer
innovation, but by the critical understanding of what it is needed to elevate
the game. Skins will be a serious player in this industry." -- Isack Fadlon --
President and Owner of Sportie LA
Mark Klein, President and CEO of Skins Inc., said, "From day one, our strategy
was to launch our Spring Collection using a select group of high-end retailers
in the U.S. We have achieved this goal. These retailers represent the
cutting-edge of the footwear industry, and are adept at keeping a finger on the
pulse of the latest in consumer fashion. Our next step will be to
grow exponentially by targeting select department stores and retail chains in
the Fall of 2007, with an eye on international distribution thereafter."
Its not by much, but I guess you have to give round 2 to SKNN since they stemmed the tide on what looked to be a chart headed down in sort of an Evening Star type pattern. Still watching...
...nibbled again at $2.50
:o
I think we need a chart here so we know what she looks like.... ;D
Ok all you nibblers out there... ;)
I think this might be a good stock to trade ... but I'm still not convinced the shoes will actually sell.
To follow up on my fashion plate, soap box dissertation, I feel compelled to clue you all in on WHY women LOVE shoes, bags, jewelry, makeup ... great haircuts etc.
We love these things because they never change size. No matter how big or small my "behind" gets ... I know I can walk into a store and buy a pair of 8 1/2 shoes. Even if I can't actually SEE my feet ... I know that they will faithfully remain the same size.
SKNNS will probably have very comfortable shoes. But ... that really doesn't matter to us. And, I think the whole insert concept won't work when you look at sexy little sling back pumps or fashionable heals - I think the insert will be too bulky.
We love to hate high heels. The higher the heel, the more painful the shoe ... the smaller they make our feet/legs look .... SOLD! That's why prescription painkillers were invented.
Shoes (etc) are a love affair. Now for those who still don't get it... both of these shoes are $250+.... approximately the pricepoint of skinns. Which woman would you rather date? I hope this is a rhetorical question...
Now do you get it????
-Samantha
LOL you are too funny Samantha.
Personally I would date this lady (well that is obviously untrue as I would naturally date my wife ;) anyway this lady whom I know is a big Skinns fan, and although not quite visible in the picture, she is in fact modeling the exact same pair of Skinns that you pictured for us ;D
Nice .... ;)
But I'll have you know that when they took my picture, I was actually wearing these... and you'll notice there's no way they could hide a sknn insert! hahahahaHAHAHAHAH
Don't feel bad Aussie buddy ... they told all the married guys I was wearing the ugly shoes.
-Samantha >:D
I totally agree. It may be a rush to judge. I just wanted to make sure that if the bulk of this website is male ... and they're banking on shoes. They really need more than just a chart and a good story. If a picture can tell a 1K words. I just wanted to make sure they had the BIG picture. ;)
Personally ... I live in Crox ... and if they make heelys in an 8 1/2 ... SOLD. I just thought it was important to help explain the mystique around "things" that women will kill for. If you're supposed to buy what you know ... I just don't want a bunch of guys running around high heal shoes... maybe they can all learn vicariously. hahahaHAHAHAHAHA
-Samantha
Using the 50 day moving average for support and a nice uptrend building. I like SKNN on a break of the small symmetrical triangle. Bought 1/2 my position in SKNN today at $2.67 - will buy the rest on a breakout of that triangle.
Entry: $2.67 (half my position)
Stop - 2.39
Shes going to be on fire if we get a little breakout from this symm triangle! ;D
Watch this one!
Just picked up a little SKNN here at 1.84 near its original breakout range.
If 1.70 to 1.60 range doesnt hold as support then I will likely sell it again. Might even average down if it gets into the 1.80 to 1.70 range.
The way I see it is that I am playing with the house's money on this one since I sold most of it close to a double last time ;)
Quote from: tokyopua on January 12, 2007, 02:48:48 PM
Just picked up a little SKNN here at 1.84 near its original breakout range.
If 1.70 to 1.60 range doesnt hold as support then I will likely sell it again. Might even average down if it gets into the 1.80 to 1.70 range.
The way I see it is that I am playing with the house's money on this one since I sold most of it close to a double last time ;)
Hmmm, rethinking this trade after looking at Calven's symettrical triangle and realizing that the downside target of the breakout could be more like 1.4... guess I will sit it out for the rest of the hour of this trading day, but since I am using BoA to trade and its $0 commission, I dont care if I have to sell quickly, better to avoid a mistake quickly.
Was having a look at SKNN.OB the other day on Fous's site (TTT.net), and I have to say it looks pretty interesting.
SKNN got creamed by a stocklemon report about pump mailers for the company and its lack of any earnings to support its valuation. While there is definitely some truth in all this and it does smell a bit fishy, they have also been releasing PRs that support the fact that they have a real product they anticipate putting to market in the next quarter.
Since this sell-off SKNN has put in 3 strong days, and while it got topped out at 2.18 resistance yesterday, it looks to me like SKNN could rally further here. I picked up some just below $2 (though I believe tokyopua did some nice bottom fishing earlier in the week), and am hoping to see it re-test 2.40 resistance next week.
Quote from: ScottishTrader on January 20, 2007, 11:02:52 AM
Was having a look at SKNN.OB the other day on Fous's site (TTT.net), and I have to say it looks pretty interesting.
SKNN got creamed by a stocklemon report about pump mailers for the company and its lack of any earnings to support its valuation. While there is definitely some truth in all this and it does smell a bit fishy, they have also been releasing PRs that support the fact that they have a real product they anticipate putting to market in the next quarter.
Since this sell-off SKNN has put in 3 strong days, and while it got topped out at 2.18 resistance yesterday, it looks to me like SKNN could rally further here. I picked up some just below $2 (though I believe tokyopua did some nice bottom fishing earlier in the week), and am hoping to see it re-test 2.40 resistance next week.
Hi ScottishTrader,
Yes, on the one hand I probably bought too soon, I got some lucky timing with the PRs about the company and now the chart looks better. I actually didnt want to sell it the first time, but the overbought condition was clearly going to break down the stock so I am glad I did. But I really like the concept.
This is a very speculative stock given that the company hasnt sold anything yet, but what keeps me interested is that they have a patent on a very unique idea for the two piece shoe (outer "skin" + inner "bone" parts). There has been some discussion on this thread about whether their current line up looks good, but I am less concerned with that. If you ask me CROX shoes are ugly as hell, but they are very comfortable and have been marketed well, so are selling like crazy.
As long as SKNN can figure that part out, the uniqueness factor of a two part shoe has massive potential, especially because it is patented! Even CROX has no patent, so they have a problem with knock off copies of their shoes.
The SKNN price point for selling the shoes is apparently quite high currently so they seem to be going after a higher end market, but high price points can always be dropped lower (though the converse of raising low price points never works once a precedent has been set). So basicallly I think they can play around to get the variables just right, but the underlying idea should sell itself in many ways. Many people will want to buy the shoes just to show off to their friends "hey, check out this cool new shoe I have, its made in two parts and I can change the outside to match my clothes!"
At the end of the day SKNN is my one speculative stock that I am holding. I hope the chart volatility can settle down too so that it can be held long term, would love to finally get in on the "ground floor" of a company with lots of future potential and buy and hold for once.
OK ... all you shirts and sknn fan(atic)s out there ... heads up ... we finally get to see the shoes ... and see what the critics think of the shoes Feb 1-4 in Vegas.
http://www.skinsfootwear.com/about/index.asp ... check out the news.
-Samantha
Sold for a slight loss today, got another break to the downside of a symetrical triangle. Lots of press releases recently about them participating in shows helped boost the company, but I cant ignore the technicals as much as I like the idea.
that's a bummer tokyopua,
Yeah, I don't know about this company, I think there is a lot of hype and the proof will really be in the pudding of when they actually start selling shoes and if they start to get some media hype. If we start seeing public media hype (beyond their own PRs) then I think we could see the share price take off. Its tough, 1.80 should be support, but thats what I thought before and it hit the 1.60s. I think this is th kind of stock that until we actually know somehting about the financial prospects, you either have to play it VERY short term, and just watch for intraday bullishness and a potential rebound, or just steer clear.
I think it needs to get back above 2.00 or 2.10 to break out of this downward cycle, although if I could I might see about picking up a litle if it hits the 1.60s again. Still, not looking too nice.
I know ... I sound like Bitchin' Betty ... CAUTION ... CAUTION... I still contend ... the shoes are ugly. And since I didn't hear anything fabulously exciting from the media during the Vegas unveiling ... I have to think that they are just that ... ugly. And ... since my FABULOUS PICTORIAL PROOF and awesome argument (below) were not enough to sway any of you ... I'll take another tack.
YES ... women fart, we rarely glow and our feet usually stink to the high heavens. I've never met a pair of shoes that I'm so attached to that I would spend $300 on them ... only to have to burn them 6 months later. And even if I did ... maybe it's just me and my feet ... but I really would never consider taking the stinky insert out of one sknn and putting it into another sknn.
For all the chartists out there ... I'm seeing a double top with a failed attempt at a third rally during the make or break Vegas exhibit. I'm not so sure there is any "support" in this shoe company's stock price.
-Sam
As always Smanatha, your reasoning and analysis makes perfect sense. I agree, that until this concept is a proven success (and it may or may not be) in terms of recurring revenues (not forgetting the possibility that it could be a fad thing too - 6 months of the latest cool thing that gets chucked in the bin when the next cool thing comes along), Skins will be nothing more than a concept and a VERY speculative stock.
My advice would certainly be: if you've made some money on this stock in the past, be happy. If you're eying it up to pick a bottom be VERY careful, and wait until it does something bullish before buying. Oh and finally, keep any trading plans strict and short term until it shows you that it wants to go higher than recent trading - I think it needs to get above 2.35-2.40 resistance to show me that, at least.
any reason for the sell off ???
OK ... La-Onda
Love you...
I saw this when you posted it ... hoping others would hop on. Now I just can't resist. But before I tell you how much I hate the shoes and their concept ...I just have to ask ... WHY do you like the company, it's shoes and it's stock??
Again ... I love you ... just need to know if you're long/short or fashion "challenged"? ;)
-Sam
Seems like it was just a technical breakdown, out of a triangle pattern to the downside. Plus if you look at their financials it still doesnt seem like they are selling much but hot air. I have them on my watch list and was somewhat tempted to buy when it hit below a dollar but I didnt pull the trigger. Will keep it on watch.
I guess I would feel better if I knew they were on shelves near to me and I could go see the shoe in person to see if they suck as bad as Sam says lol ;)
Hi Sam,
I never falled in love with this stock ;D (and never bought shares) ;D
Just still wondering if there is other reasons for the gap down ?
SKNN: New 52-Wk Low @ $0.930 dn 20.51%
Friday , April 27, 2007 13:45ET
This is the 1st 52 WEEK LOW alert for SKNN in the past 7 calendar days.
The share price for Skins Inc. (OTCBB: SKNN) reached a new 52-week low today, trading at $0.930, down $-0.240 (-20.51%) from its previous close of $1.170.
The Company's previous 52-week low of $0.950 was set 282 days ago on July 19, 2006.
Eleven months ago, the Company's shares closed at $1.250. The price has declined more than 25 percent since then. At the time of this alert, the stock had traded 475,600 shares via 290 trades, 141.58% above it's 20day average of 196,872 shares.
This new 52-week low currently puts the stock:
36.48% below its 20day Moving Average of $1.464
41.89% below its 50day Moving Average of $1.600
50.70% below its 100day Moving Average of $1.886
The Company last released news on April 18, 2007:
"Skins Inc. Announces Launch of New Skinsfootwear.com Consumer Website"
cheers
Oliver
Tokyopua ... I've loved our banter on this one ... it's good. You keep me technical ... I keep you logical. hahahahha
La-Onda ... or should we call you Oliver? WAIT! You're a guy investing in shoes ..... hahahhah ;) sorry..
Personally ... The shoes ... well ... they speak for themselves. I would suggest you short them ... but the stock is going to be a pennie here any second... so I wouldn't advise that... :-\
I think that what this stock is trying to teach us is that we need to know what we're investing in - short or long. AND ... that for all the technical analysis we do ... there needs to be an indicator for common sense. The shoes are ugly. Go into your damn closet ... put your cute little nose in a pair of your sneakers ... and tell me if you think there's anything there that's worth pulling out and taking to another shoe. Um ... no... in my case at least. ;)
It was a good rumor ... I think it's nothing more.
Now ... I'll hold my Serena/Bitchin Betty tongue as long as I can ...
But I have to warn you ... sometimes I can't help myself...
-Sam
Bounce time : JMO
Chart up date
Hello Penny Traders!!!
Resurrecting an old favourite from the closet. Why? Because it looks like it is setting up a lovely low risk (relatively this is a penny stock) high reward play.
I am going to trade this using a 3Stocks trading approach we call STEPS (Short Term Explosive Performance Small caps ;) I traded SKNN before using this exact trading approach, you can view it earlier on in this thread. In fact I have the trading rules in a .pdf format. I'll see if we can make it available.
Anyway, for now here is the chart. No enty yet, looking for the first entry on reversal of the current pullback. I am targetting 100% return if this set up plays out correctly. That means exiting around $0.90c which is coincident (nicely) with the 200 day SMA.
This is what I am looking at:
Step 1 The Trigger. A volume and price explosion.
Step 2 The Pullback on lower volume.
Step 3 The first Entry (on or day following reversal bar).
Step 3 Entry #2 a buy stop entry set on breakout above the trigger day open/close whichever higher
Step 4 The Run
no news, up 6% 8)
Hey La-Onda, no news is good news ;)
Based on STEPS the pullback step has confirmed reversal, so I will be entering half a position in SKNN today. The set up looks as perfect as it can be. In my earlier post I mentioned this as a relative low risk play, this is because the pattern is in close proximity to ascending support line (red) and the short and medium term moving averages I use.
I will have a 2nd entry on the breakout of the $0.52 area for my full position.
>:D >:D
Quote from: AussieTrader on April 09, 2008, 02:14:31 AM
Based on STEPS the pullback step has confirmed reversal, so I will be entering half a position in SKNN today. The set up looks as perfect as it can be. In my earlier post I mentioned this as a relative low risk play, this is because the pattern is in close proximity to ascending support line (red) and the short and medium term moving averages I use.
I will have a 2nd entry on the breakout of the $0.52 area for my full position.
This set up has played out perfectly thus far. Just hope the RUN happens......For ow an updated chart.
Applaud! AussieTrader
Thanks for the lesson. I did not trade but appreciated the chart and explanation.
Hey Houlahan, thanks,
But in reality just following a plan can make anyone look like they know what they are doing ;)
I was just following the plan, in this case STEPS.
I am actually on holiday for this week and just popped into a cafe with access to update. I closed out two thirds position Friday just after the open and the rest I have on a stop currently set just below ascending support.
I closed this out a bit quicker (but still used my STEPS exits rules) because I knew I'd be at the beach 8).
See all in a week or so.