10 mm share bidwhack in last 10 minutes of trading

10 mm share bidwhack in last 10 minutes of trading

This was the  bear raid I was expecting today. It was the hardest attack I've seen since the rally, and that 10 mm share dump in the last 10 minutes is the smoking gun. The problem is that there is no panic selling occuring, which is in fact what the objective of the bear raid is. they want people to panic and dump shares at market so they can pick them up on the cheap.

They needed a close below .002, but they got exactly the opposite, a close at .003. Remember what I keep emphasizing folks, the weekly support level of .002 is a major level which has not been closed below since the rally of summer of 2011. It may bend but it has not broken.

This was a holiday shortened trading weak with crap volume and if you think this is bad, you should see what the bears and bashers are doing to my other stock, TECO. That company actually has revenue and is going cashflow positive but they hit that thing without mercy every day.

Judging from the PR schedule history of MPIX, they tend to release stock moving news on the 18th of the month, and generally during the 2nd half. In addition, it was mid September of last year that MPIX started it's initial breakout that toook the stock up over 8.5 cents in mid October.

Remember what I keep saying folks, this stock loves to run on cycles, which is why I love trading it so much. I expect a few more raids early next week, and should they happen to shake out some more shares below .002 I shall be accumulating again.

It's good to be a trader folks, have a good weekend.