Not pumping or reccomending this, just expressing an opinion/hope.  Another typical OTC sub penny stock imo with billions outstanding and billions more authorized (see recent sb2 filing).  Volumes are light to almost non existent unlike others that have had a big pump in the past year.  

Stocks like CNES/CYBT or SEIH though didn't spike because of their fundamental performance.  Hoping RNKE can make a similar move in the future.  Risk isn't great for me in terms of $$$ because the PPS is so low.  If it happens....Whoopee, if not... no biggie.

At around $50 per 100K shares if it gets run up to just 1 cent, that's $1,000 per 100K shares.  But I wouldn't "invest" anything other than risk capital.  

Still waiting to see what happens here with some decent volume.

Krill:
This one looks extremely risky. I am personally not going to touch it. Not only is it in the sub pennies, but it had a 1 for 7 split.

Seth

Yep, fundamentally it's your typical OTC stock as far as I'm concerned.  

I see it as risk/reward.  At current levels it's about $50 per 100K shares.  If it gets touted by an outfit like shazamstocks or stockprowler then I think it has potential for significant short term appreciation.  CNES/CYBT are a couple that got pumped up around 1.5 cents.  Even if RNKE gets to 1 cent that's $1000 per 100K shares.

If it doesn't happen?  I can afford to lose a few hundred.  Certainly not for everyone, people tend to like a good story, some hype and + price movement I've found.

A bit more volume today, but still not very much considering the PPS and the fact there are about 2.9 billion o/s.  I'm  looking for volume of at least 25 million in a day and want to see which way (if any) it moves.  

Here's RNKE's chart with my thoughts.  FWIW I'm not "investing" in RNKE as such....I'm merely speculating on it's potential for a signifcant gain from current levels.

The 6 month chart shows the PPS in steady decline, but over the same period the OBV trend has been upward, almost a perfectly inverse relationship.  OBV stands for "On Balance Volume", on days the PPS closes up the volume counts + and on days the PPS closes down the volume counts -.  It's a money flow indicator with rising OBV indicative of "smart money" flowing into a stock according to Joseph Granville who created OBV as a technical indicator.  

FWIW when a stock is paying promoters and pumpers I disregard OBV as an indicator.  When the pumpers are working a stock it ain't "smart money" buying imo but Joe Sixpack.  

The 50DMA has provided firm resistance and a break above would be extremely bullish imo.

Stochastics show an extremely oversold situation.

Can't  insert a stockcharts.com image so here's the URL:

http://stockcharts.com/def/ser.....Lp14,3,3]&pref=G

They'd dropped the bid to .0003 but brought it back up to .0004....for a stock with no news and no promoters it's looking interesting anyway.  Americanbulls has it as a Buy If, but if it closes up on Monday I think that'll change to a Buy Confirmed.  Time will tell.....

bid/ask .0004/.0005 last check....not much happening, volume only 300K or $120

bid ask still .0004/.0005 but someone finally stepped up to the ask.  SCHB and NITE boxing on both sides though.  

It took an extra day but American Bulls has it as a confirmed buy now.

http://www.americanbulls.com/StockPage.asp?CompanyTicker=RNKE&MarketTicker=OTC&TYP=S

Krill,

Go here for Time and Sales: http://www.otcbb.com/asp/quote_module.asp?qm_page=57967&qm_symbol=RNKE&symbol=RNKE

I've had all my money in VDWB for 2 months now and have had $32 left in my account since then.  Today I decided to do something with it and bought $24 of RNKE at the ask (48,000 shares).  I currently own the stock, but the only way it is going to go up is if it is pumped.  Only three trades took place today and a $24 transaction does not justify a "confirmed buy" in my opinion.  The bid and ask did not budge, therefore the stock did not really go up.

Fair nuff lemon.  FWIW I think you're playing it schmart.  CNES, CYOS, CYBT, ITCV, AMRE...there's a long list of sub pennies and low pennies with imo similar share structures that have gone ape.

@ $50 or so per 100K shares the risk isn't great for me.  I can spend more than that on a night at a pub.  If RNKE does get a shazamstocks type "feature" or something similar and they run it up to a penny....WHOOOOOOPEEEEEEEE.  If it doesn't happen it's not much to lose.

I'd turn $24 into $480 if it hits 1 cent and I'd be a happy camper

I used to shy away when I saw a bad history and hundreds of millions of authorized shares, then I saw stocks like CNES, CYBT, SEIH explode.  Now I just try and get in early and out during a pump.  

A bit of action this AM on the ask...but hardly anything to write home about.  We're gonna need a feature or profile by some outfit here in my opinion....that's all it seems to take.

Over 1.5 million today and all at the ask.  But RNKE isn't what I call "in play" yet....

IMO that's when the market starts ringing the dinner bell for Joe Sixpack and Sally Housecoat...When the bid is stacking and the ask is thinning and the pumpers are screaming:

"Look at level II, GET IN NOW"

Check any of the recent pumps on RB...when SHRN was .15+ or AMRE was 20+, or CNES/CYBT/SEIH over 1 cent.

Pretty typical trading imo,

2:24:44 PM Trade 0.0004  20000  
2:00:28 PM Trade 0.0005  1000000  
11:37:52 AM Trade 0.0005  200000  
9:32:54 AM Trade 0.0005  386500  

20,000 sold at the bid for $8....

All but 70,000 at the ask....it's been cemented at .0004/.0005 for days now with NITE and SCHB boxing.

0.0004 50000 15:16:50
0.0005 1200000 15:05:58
0.0004 20000 14:24:45
0.0005 1000000 14:00:28
0.0005 200000 11:37:53
0.0005 386520 09:32:55

If RNKE does get put in play in my opinion it will move very fast, and if that happens I wouldn't suggest chasing as it's easy to get bagged in sub penny runners...CNES and CYBT are a couple with tons of "investors" who got caught around 1 cent or higher before the PPS tanked on those.    

I think alot of people radar a stock like RNKE, but won't buy until or unless they see some + movement.  But getting a decent fill when a sub penny runs can be difficult at best with emotion taking over causing many to buy at or near the high before the bag gets closed.

One thing I haven't previously mentioned is the financial dealings RNKE has had with Cornell Capital.  Cornell has dealt with quite a few lately, MSSI, CYOS, LMMG...MOBL (thanks ugh, that's what reminded me)....

8K Filed today....

Form 8-K/A for ROANOKE TECHNOLOGY CORP


--------------------------------------------------------------------------------

26-May-2005

Non Reliance on Prev Financials, Audits or Interim Review



ITEM 4.02. NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIALS STATEMENTS TO A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW
The consolidated balance sheet and statement of operations included in the financial statements filed by Roanoke Technology Corporation prior to the date of this current report on 8-K will be restated as discussed below. On March 23, 2005, management, after consulting with the independent auditor, determined that the Company had not recorded the value of the beneficial conversion feature and related discount and amortization of the discount on the notes payable in accordance with EITF 98-5. In addition, the Company failed to correctly accrue an officer's salary in accordance with his employment agreement.

As such, the Company intends to restate its consolidated balance sheet, statement of operations and cash flows for the year ended October 31, 2004 to present such statements in accordance with generally accepted accounting principals in the United States of America and EITF 98-5. No prior quarters or financial statements were affected by the restatements.

On March 23, 2005, Roanoke Technology Corp. will file an amendment to its October 31, 2004 10-K to restate its previously reported financial results for the fiscal year end 2004 as stated above.



--------------------------------------------------------------------------------

CONTROLS AND PROCEDURES

As of the end of the period covered by this report (the "Evaluation Date"), our management, including our Chief Executive Officer and Chief Financial Officer, conducted an evaluation (Evaluation") of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rule 13a-15(e) or Rule 15d-15(e) under the Securities Exchange Act of 1934. In the course of the Evaluation, we identified a significant material weakness in our internal disclosure controls and procedures.

In January 2005, our Independent Auditor advised our Board of Directors that during the course of the fiscal 2005 audit, they noted deficiencies in internal controls relating to:

• A weakness in our financial reporting process as a result of a lack of adequate training in the accounting department.

This internal control weakness may also constitute a material weakness in our disclosure controls. In response, we have provided additional training to our accounting staff in order to ensure that there were no material misstatements in our consolidated financial statements. Our Chief Executive Officer and Chief Financial Officer concluded that as of Evaluation Date our disclosure controls and procedures were not effective, however, as of the date of filing of this amended report, our Chief Executive Officer and Chief Financial Officer concluded that we maintain disclosure controls and procedures that are effective in providing reasonable assurance that information required to be disclosed in our reports under the Securities and Exchange Act of 1934 is recorded, processed, summarized and reported within the same time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Although we currently believe we will not need to take additional step to remediate the above-referenced material weakness, we will continue to evaluate the effectiveness of our design and operation of our disclosure controls and procedures on an ongoing basis, and will take further action as appropriate.

NITE and SCHB finall backed of the ask last check, and today's trading is all at the .0005 ask save for a weenie 10,000 trade for .0004

0.0005 1000000 10:49:32
0.0005 2000000 09:48:28
0.0004 10000 09:37:56
0.0005 200000 09:32:58

Uptick now .0005/.0006 last check, one more uptick lemon and you're green.  Don't see any paid pump  yet but my eyes are peeled.

Quoted from krill

Uptick now .0005/.0006 last check, one more uptick lemon and you're green.  Don't see any paid pump  yet but my eyes are peeled.

Krill
IMO
this Stock will be on hold for a while

JIMO



ugh45

Actually, I break even at 0.000796 according to my calculations.  I paid $7.12 in commissions to buy and will pay another $7+ to sell...unless it is over $1 when I sell, lol

Quoted from LemonButt

Actually, I break even at 0.000796 according to my calculations.  I paid $7.12 in commissions to buy and will pay another $7+ to sell...unless it is over $1 when I sell, lol

ROFL, thanks for that lemon...at $1.00 I'll be taking a very very long vacation in my new car  A penny or 2 will suffice for me, but I'm hanging loose and will hit what's pitched.

Grab a look at the chart if ya have some time.  If we hit .0006 that's a break above the 50DMA which has been historic resistance lo these past 6 months while RNKE has been trending down.  Hoping a reversal is close at hand.

Here's the stockcharts chart.  I don't think it's wise to rely too heavily on charts with otc/pink stocks because it is my opinion that they are too heavily manipulated.  With that being said I don't disregard the chart either....I'm more prone to totally disregard a chart if a stock has paid promoters hyping it, which is not yet the case with RNKE.

Over the past 3 months OBV is flat, despite the decline in the PPS...so volume on up days has been basically even with volume on down days "on balance".  Stochastics are pointed up with the fast line breaking over the slow line below 20 which from my experience can serve as a bullish near term indication.

If the bid/ask holds at .0005/.0006 then any buying at the ask will take RNKE over the 50 DMA.  Breaking above that MA and holding would be a very bullish indication in my opinion.

There's the 50 DMA broken, if it can close there or higher I like our chances for a run lemon....thanks for fixing the chart

Volume over 8.5 million last check...and I don't see any news or anything yet.  Ask looks like it's getting hit nicely.

Above the 50DMA, chart (thanks lemon)

Good Luck to everybody who has it, lol
JIMO


ugh45

The bid has climbed from .0003 to .0004 and is now at it's current (as of today's close) .0005

Some news I think would be helpful.