MPIX Daily Chart ~ Nothing New as Far as the Chart
Post# of 2561
Posted On: 03/24/2014 2:15:48 AM
MPIX Daily Chart ~ Nothing New as Far as the Chart Goes
I've mentioned often that MPIX isn't a chart play, and it should be used by those seeking to add more shares with a long term mindset. Looking at this chart below, it seems that the .007/.0071 are has become the support level for those looking to enter or add more. Every once in awhile, that line is penetrated with a quick recovery into the .007s and .008s. For those of you that might have been around on Wednesday, that was fun to watch. I have four friends who all had GTC buy orders in place in the .004s, .005s and as high as .0064. During the orchestrated takedown to .003 on a total of 850,000 shares, those of us watching saw the bids strangely disappear from the L2s just before the one minute bear raid hit. As we continued watching, one by one all the GTC orders came back into the box. If this really was a bear raid by the crooks, it resulted in not one share being panic-sold into the market. If that order was a market sell order, then one must ask why none of the open orders were filled. Once the uplist to the QB finally happens, and the long awaited announcements of what T.E.A.M. has been working on over the last many months, it's going to be interesting to see how the market reacts. I again have to draw everyone's attention to the fact that MPIX has approx 1.16 billion shares in the OS yet barely trades 2 million shares per day with the occasional increase in volume to 10 mil when a number of swaps occur below all bids. Compare that with companies with OS of 500 mil to 1.2 billion. They all trade in the 10s of millions of shares daily. Very interesting following the evolution of a company as it transitions from 'left for dead' to a future, global entertainment beast. The time will come where shareholders will be rewarded for their patience. GLTA
I've mentioned often that MPIX isn't a chart play, and it should be used by those seeking to add more shares with a long term mindset. Looking at this chart below, it seems that the .007/.0071 are has become the support level for those looking to enter or add more. Every once in awhile, that line is penetrated with a quick recovery into the .007s and .008s. For those of you that might have been around on Wednesday, that was fun to watch. I have four friends who all had GTC buy orders in place in the .004s, .005s and as high as .0064. During the orchestrated takedown to .003 on a total of 850,000 shares, those of us watching saw the bids strangely disappear from the L2s just before the one minute bear raid hit. As we continued watching, one by one all the GTC orders came back into the box. If this really was a bear raid by the crooks, it resulted in not one share being panic-sold into the market. If that order was a market sell order, then one must ask why none of the open orders were filled. Once the uplist to the QB finally happens, and the long awaited announcements of what T.E.A.M. has been working on over the last many months, it's going to be interesting to see how the market reacts. I again have to draw everyone's attention to the fact that MPIX has approx 1.16 billion shares in the OS yet barely trades 2 million shares per day with the occasional increase in volume to 10 mil when a number of swaps occur below all bids. Compare that with companies with OS of 500 mil to 1.2 billion. They all trade in the 10s of millions of shares daily. Very interesting following the evolution of a company as it transitions from 'left for dead' to a future, global entertainment beast. The time will come where shareholders will be rewarded for their patience. GLTA
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