Checkout this FULL LENGTH CLASS on Short Squeezes and Halts Pending News: https://www.youtube.com/watch?v=afNhgCc-LCw&ab_channel=WarriorTrading
NEW UPDATE: OCOEE, FL, Aug. 29, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – iCoreConnect, Inc. (Nasdaq: ICCT) (“iCore” or the “Company”), a cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform, today provided an update on recent trading activity following the close of its business combination with FG Merger Corp. (“FGMC” (Nasdaq: FGMC), a special purpose acquisition corporation. Today, trading of ICCT’s securities was halted on Nasdaq when it was identified that certain shares did not convert using the post-business combination exchange ratio. The situation has been corrected and the Company will resume trading at market open on Wednesday, August 30, 2023.
Shareholders seeking additional information on how this may impact their individual positions should contact their respective brokerage firms.
#daytrading #stocks #stockmarket #rosscameron #warriortrading
NEW UPDATE: OCOEE, FL, Aug. 29, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – iCoreConnect, Inc. (Nasdaq: ICCT) (“iCore” or the “Company”), a cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform, today provided an update on recent trading activity following the close of its business combination with FG Merger Corp. (“FGMC” (Nasdaq: FGMC), a special purpose acquisition corporation. Today, trading of ICCT’s securities was halted on Nasdaq when it was identified that certain shares did not convert using the post-business combination exchange ratio. The situation has been corrected and the Company will resume trading at market open on Wednesday, August 30, 2023.
Shareholders seeking additional information on how this may impact their individual positions should contact their respective brokerage firms.
#daytrading #stocks #stockmarket #rosscameron #warriortrading
What's up everyone? All right? So in this episode I want to talk about Icct? A stock that um, squeezed up today made a really big move. 24% gain change from the close um but is currently halted. All right. So I thought this would be an opportunity to talk a little bit about this move.
and before I do we can look at the overall Market S&P 500 really strong day for the overall Market I didn't even check my um, my long-term positions. my swing trades uh this afternoon I I don't you know I don't check them every single day. Well I check them in the morning but I don't check them later. So um yeah so a Green Day there for those positions Pepsi Proctor gamble um Coca-Cola is down a little bit on the day, but anyways not that much.
but the overall Market made the made a nice big move so that's great to see. Uh, you know the fact is we had a really strong um, you know May June July and then August has been a little colder because the overall Market's been pulling back. so the overall Market is a bit of a rising tide that lifts. All Ships and this Market pulling back made for a little bit of a more difficult month of August with the exception of I suppose VFS which for me was by far my biggest winner of the month.
Um, it was VFS right? let's see. Um Iccc. Oh so this is I'm on my star link so let's see. Um yeah it said my my internet timed out there for a second so you know this is um this is unfortunately part of the part of the deal with there it goes all right.
So anyways I'm I'm I'm parked near a field I'm mostly pointed North Northeast pretty clear view of the the sky. but anyway so VFS this was the one that I by far made the most money on this month. Had some really good trades on it although I gave back a little off the top uh but in any case still finishing in good shape on this six five green days with this big gap here, but today was a pullback day. Worth noting that it is on lighter volume but it's a pretty big red candle.
So with VFS pulling back this morning morning I didn't take any trades on it today I was like no I think I think the part's over on this one. looks like it invert looks like a head and shoulders coming back down. so I think I'm done with that. uh ICT I Initially pre-market didn't really think much of it.
Some folks mentioned it and I I looked at and I was like yeah well I don't know. It's kind of a weird candle from yesterday. you know the daily candle's red. 11 million shares but really sold off hard.
so I was like well you know what's the what's the setup on it and this was a special acquisition company. Uh well, it was a Spack merger so special acquisition company. blank check company ended up merging with ICT which is a Um or was an OTC stock. So by doing this merger it allows ICT to move up to the NASDAQ and SO commencing trading yesterday August 28th the um the thing about it is um some you know I I like trading Spack mergers but I don't like obviously this selloff that's what I was not feeling great about. the thing that this has going for it is that it's a blue sky setup so you know but it has has to break over yesterday's high which was way up here at 470 so you had this topping tail and I just I just didn't really see it happening. Anyways, at the open it squeezes up and halts up and there's mosquito in here. so I got you so it halts up and that was at $2.66 so you know I wasn't in before the halt. Uh, some of you guys probably did get in at that pivot of 222.
Congrat Ulations Nice trade. Uh I saw some of our members did get in uh which is great so you guys understand these setups. I didn't take that trade I was kind of just like I didn't have any trades pre-market and I was sort of like you know I didn't break the ice with any trades pre-market Yesterday was a nice green day. Maybe I don't need to push my luck.
Uh, it's okay just to be patient and wait for the next one to come along. So I did a dip and rip on the resumption I got in at 29, 9, 290 295. it pops up to 315 and then up to a high of 325. I sold made 500 bucks and I was like all right you know, whatever small green day but I'm in Canada $500 goes a long ways up here.
So and it's said US dollars so I was like no 500 is good. That's fine. You know yesterday was a great day so whatever. uh and then I I I left.
You know I went to go. um you know I went to the beach and did some stuff and uh, enjoyed the rest of the day and then um so I missed this whole move. So this ends up curling up here and I could tell you that when it came back up to here, this was the indicator that you know when it was curling right in here. H it could kind of go either way.
you know this could just be sort of like a little bit of a bare flag that's going to descend. Break to the downside, but when it broke back over three right there and then B basically double tops up to 321 and then it pulls back. You do have that red candle and you know what? You even have that flush there down to 270. that's a 50 Cent pullback that's substantial.
but then it bounces back up and holy smokes, look at that on that candle. 750,000 shares of volume and it rips through 350 355 Three topping tails in a row. that's a little indecisive, pulls back and then rips up here to Four Tops Over four pulls back to 420, another topping tail drops down, dips down to 350 is big green candle 500,000 shares, pops all the way up to 470. Nice to five pullback.
very clean. Bull flag light volume pullback blast through F to 550, then all the way there up to six. Now it's hot, momentum's moving. Micro pullback goes to 650 to 7, up to 750.
Phenomenal. That's the top. That's the high, that's the high of day. It pulls back here to 550 I'm I'd probably be the um, the guy who chases it like right here at 748 and then stops out.
you know, a minute later. But um, you know I mean I Just sometimes when when you miss these you just like if you miss a good entry. sometimes it feels like where do you even get in. But uh, you did have a couple of nice setups that was a clean one right there. You had a nice micro pullback right here and right here and those are probably the best. And that's when it really started to get going. That's when it got excited. So then it comes back up and right here.
It's actually looking very similar. This pattern very similar to what we saw back here at 321, right? So if we go back here to this 321 spot, very similar kind of coming back up and oh boy wait, what's going on And then it just stops. So what happened? it's halted. All right.
So now we have a halt. So if you go into um NASDAQ halts which you know I I will periodically from time to time. Where's my mouse? There it is. Um, so you could see Icct halted.
T1 News pending trading is halted pending the release of material News That was at 12:23 p.m. and it did not resume. It hasn't resumed yet. So now people are freaking out a little bit because there's people who are stuck.
They're holding it long. There's people holding it short. They're stuck. They don't know what's going to happen.
It halted at 564. Um, you know. So unfortunately we're in this situation where there's rumors, people are saying oh, it's You know what's going to happen. Um, and we're We don't.
We don't know. So if we go to Icct and the SEC filings, Um, we've got the registration. So this was Securities registration termination this. Um, so let's see.
Um so termination of registration. You know. the thing is, it's puru to the merger agreement and plan of reorganization. This is confusing.
So that was today. These are all old. That's all old. So registration termination? That's weird.
H Well um you know at this point we don't know. Uh and it it could be the the exchange halted the shares because they went up so much. Um, they announced closing of the previously announced business combination with the FG merger Corp which was the Spack common stock of the combined company will operate as Icct. every 29.84 shares of Iore outstanding prior to closing will receive one share of the combined company.
I Wasn't even totally clear exactly what the float is on this. the market data. Um, there's a all the market data vendors have different numbers for what the float is so you know at this point. Unfortunately, if you're in it, you're stuck and you're just.
you just have to wait. and if it ends up they say that there's you know they're not aware of any additional news to support the 250% move. Um, aside from the previously announced merger, then it's probably going to open lower if they have some additional news. But the fact that the news hasn't been released already to me what that indicates and you know, just guessing. But what that indicates is that it was maybe halted by The Exchange And that and because we've seen this happen before, Usually it'll say halted pending You know by The Exchange and they're asking more information. but sometimes it says halted pending news When this has happened and they are, haven't, it's halted pending news. but they haven't put out the news it, they should put out the news. If they actually had news, it would have come out like right away.
You know that's that's kind of the thing. They don't just stay halted like this usually, so it it doesn't look great to me if you're in it to the long side. Unfortunately, that's my guess but could be wrong and we'll find out. Um I don't know when Pro probably tomorrow.
but but I don't know when. So we're just in one of these situations where you know you. You really, you hate to get stuck in a um, a news halt. especially when you're stuck overnight.
People who are stuck. Uh, on the short side, they're going to have to pay borrowing fees until this resumes. So every day that they're short, they have to continue to pay borrowing fees. The borrowing fees on this today when I looked were Point Um, let's see, they were 9 cents a share.
Um, so let me just take a peek here. That was early this morning though. it probably went up. Um, had 44 million shares of volume today, which is a lot of volume.
So the price went up to 18 cents a share. So people were borrowing at 18 cents a share. So if you borrow 10,000 shares which isn't even a big position to me, that that costs you $1,800 per day, it's going to cost you $1,800 per day to hold that position So if it's halted for 10 days, you owe $118,000 in borrowing fees. If it's halted for three months, well, you know you're you're in over well over 100.
Grand So that's the crazy thing with these high borrowing fees is that if you get stuck, you could end up paying more in the borrowing fees than you could even make on the trade. which really would feel devastating, especially if it did end up resuming at like $2 because you're like I was right, but I still ended up losing money on it. So anyways, um I saw some people asking about it. so that's my take on Icct it's halted.
Um I I Maybe suspect that the exchange halted it and asking the company to issue a news, um, release to you know, um, explain the move and so they're asking their lawyers. They're like guys, uh, write something up I don't know what do we write and then they look at what the other company's right and they say there's we have no material, you know, news to report and then usually they open lower When that's the case. that's what this looks like as I've seen that before, but you know you could always be surprised. and maybe there is some really good news that's going to come out tomorrow and it'll open it like $10 a share.
and if it does, that's going to be crazy because that would be unexpected. But let's not get our hopes up too high. so that's Icct. That's my review. I Made 500 bucks on it. Uh, did not get stuck in it, which is always a great great day when you don't get stuck in a trade. Uh, but um, only made $500 on it. so nothing really that exciting.
Uh, $4 Uh, $98 and oh, you can right there. 18 cents to be exact. So uh, and no trades in my, um, my margin account. This is just my retirement account that I was trading in.
so made some money in a retirement account. taxfree. That's good. and I'll be back at it first thing tomorrow morning.
so hope to see you guys in the morning. Reminder: Tonight is the last night of our um Dog Days of Summer sale. so check it out over at Warrior Train.com if you haven't already and I'll remind you guys as always I Hope you hit the thumbs up. Hope you subscribe to the channel and don't forget trade is risky.
My results aren't typical and there's no guarantee you'll find success. so manage your risk, take it slow and I'll see you back here first thing tomorrow morning for the morning show.
@DaytradeWarrior Ross, any thoughts on $SQL tomorrow? They announced a 1-40 reverse split today effective at midnight. New price tomorrow with a new nano float at about 180k. How do we play this and the halts?
incredible
Now squeezing for the 20.00
How can we know that a stock is moving to Nasdaq, is there a bot or database that will be easier to know such a thing in the future?
how high will this go?
I traded ICCT. Had 700 shares. Sold 600 for a $400 profit. Then I held 100 shares hoping for higher highs and then it halted up. Scared but the morning I sold 100 shares for another 100. $500 profit. Small account.
Hi Ross. We can see upcoming volatility halts as LULD. How can we see (anticipate) upcoming T1 and T12 while trading? Thank you
Can you tell which scanner our which tool you ussed anf how to install it on pc. Love form india❤❤❤❤
Holy crap! Everything your saying is spot on! I was watching it for the break of 3.. it wasn't breaking so I took my dog out when I came back in it was all the way up at 4 got in around 4 was upset and let it go at 395. I wish I could be quicker with my stops but when I hit my hotkey it's already five cents lower at then when I sold it
No trade on Aug 30th. …
UNHALTED SQUEEZING FOR THE 10.00
icct is trading
DBGI
Thanks so much for doing this Ross!
Hey Ross, if you ever up reading this, can you explain the retirement account? How are you able to trade on there and make money and pay no taxes? Were you able to create a roth IRA with your broker and you just use the money on there to grow the account independently through day trading it? Thanks in advance
I traded in ICCT yesterday with my paper account and my last order got frozen in the halt after the my paper account bugged out and didn't let me sell for a nice $900 profit
when i got the paper account back up it's in halt and suddenly down like $4000 🙈
so glad it wasn't with a real account, would been so nerve wrecking what those news are.
EDIT:
Now that it has opened up again, it would have been the most lucky haults.
Currently the trade is up $6300 and went into another hault, but because of volatility.
I just put a stop loss below th recent candle for a $3500 gain. I wouldn't have needed to do any other trades today.
Just let this one go as far as possible and follow it with a trailing stop loss.
Could you give advice about how to avoid get stucked in a T12 halt? I know that it's because there was no news but VFS didn't had news too but was not halted, and went much more, thanks bro
The bull flag when it broke 5 was just free money
hahaah 500$ in Canada goes a long way….Ross talks like he doesnt have any "spare change" in his pockets.
Thx for your content Ross! Similar case with $EDTX: it got halted 1.5 months ago with a T12 halt (Additional Information Requested by NASDAQ). Absolute disaster for people who got stuck short and have to pay borrow fees…
Ross really great video, exactly the kind of content and info I’d like to see!
totally irgnored it because of higher float, untill afternoon lol
hi what about the float at (ICCT) It is higher than the standards you mentioned(-20M float)
If I follow your trading standards, how and when can I ignore the float standard? Thank you
Ross is really a legend. Thank you so much for what you do.
Just found this online.
“Today, trading of ICCT’s securities was halted on Nasdaq when it was identified that certain shares did not convert using the post-business combination exchange ratio. The situation has been corrected and the Company will resume trading at market open on Wednesday, August 30, 2023.”
Hahaha “ I got you, you son of a… Soo it halts up” 😂
I didn't want to ask in the chat room today, but how does effect ur acct value? Like if I'm at $26k in my acct, and at halt I still had $6k worth of $ICCT… would that mean I drop below PDT? Or do you keep the value of the halt (counting Twords PDT wise) until it resumes???
Thanks for pointing out possible trading pitfalls.
iCoreConnect released PR confirming that trading will continue at market open tomorrow (Aug 30th)
I thought SEC can only halt for maximum of 10 days? You comment at end of vid that if you’re short and the halt goes for 3 months you could be out a ton of money. Don’t disagree about the $ aspect but don’t think a halt can last more than 10 days.
Stock will resume trading AT MARKET OPEN TOMORROW – LATEST NEWS HEADLINE: OCOEE, FL, Aug. 29, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – iCoreConnect, Inc. (Nasdaq: ICCT) (“iCore” or the “Company”), a cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform, today provided an update on recent trading activity following the close of its business combination with FG Merger Corp. (“FGMC” (Nasdaq: FGMC), a special purpose acquisition corporation. Today, trading of ICCT’s securities was halted on Nasdaq when it was identified that certain shares did not convert using the post-business combination exchange ratio. The situation has been corrected and the Company will resume trading at market open on Wednesday, August 30, 2023.
Shareholders seeking additional information on how this may impact their individual positions should contact their respective brokerage firms.
Learned my lesson with these random tickers years ago. Think it was $LFIN…. All could be going well and then bang the stock is halted for t1 or even worst t12. Now I just stick to what I know especially when using big size.
That BAM was filed the 28th not today.. look at the actual date.
Ross, I have scratched my head till I'm bald!