MPIX Daily Chart ~ What to do When the Beast Takes a Rest
Good evening MPIX/ZZXers! The pullback and the consolidation continues. The hardest thing to do in the OTC penny arena is trying to decide what to do when you are holding a stock with a nice gain, and it begins to move down. For those that have very little idea of what their investment is about, or for those that are pooping their pants and left their box of Depends at home, well, they typically sell near a bottom. The flippers will get their small gains and typically move one as did those who sold their .005s and .006s in the .007/.008 level. As a stock move to higher levels, it becomes more difficult for those traders to get a 20-30% gain. So what we might be seeing the last three days is the final selling from these type of individuals.
The question for everyone else, that is holding MPIX for the long term, monster gains that many of us hope to see, is when might be a good time to add more. I personally never know when a bottom is going to occur. All I can do is watch the trading and the chart to get an idea of where a calculated entry point might be. In conversing with many individuals over the last few days, I know a lot of you have continued to add from the .017s into today's .013s. Whether this is the bottom or not, again, I have no idea. What I do see is a stock that ran from .005 to .019 without a correction and now consolidating between a low of .013 to the .018s for just over two weeks. If one believes in the new management team, and share the opinion and thoughts that MPIX is going to eventually move into the dimes and higher, what's the difference of .013 to .016? Obviously, one can purchase more shares. But on the other hand how would you like to be those that were sitting in the high .004s/low .005s only to watch the stock run to .019? My opinion is the same will occur again with those waiting for the high .00s to .012s. Maybe they'll get lucky, but probably not. Once the company becomes 100% compliant with their filings, the reduction of the OS, the application to the QB, audited financials, and the many projects/events that management is working on are announced, it will be GAME ON! So those of you wondering when a bottom might be in, you just might ask yourself where you see MPIX going when these various items are executed. I say much higher.
As to the chart, let me state that MPIX, to me, is not a technical play but rather a fundamental play. I will continue to use the chart but not to time any sell orders at this time. Perhaps months from now, but now way will I be caught on the sidelines hoping for a Mickey Mouse dip when I'm expecting big numbers down the line. There's no doubt we are currently in a correction. So far we've seen the .013/.0132 level hold since the drop from .019. The long tails on the candles show the intraday selling with nice recoveries into the close. Although most indicators are in decline, they are also no longer in extremely overbought levels. All this is good for the next leg up whenever that begins. As more nervous, impatient, and uneducated shareholders sell and those shares are accumulated by longer term holders, the more prolonged the next move up will be. As many who purchased in the .005s sold for 20-100% gains, those same type of flippers, IF entering here in the .015 range, will more than likely be holding for the .02-.03 area. Even though it makes for a decent move for them from .015 to .03, those of us holding shares in the sub .005s, that move would equate to another 300% gain on top of the current 200%. When we begin trading in the .10 and higher levels, I see moves from time to time with .02-.05 intraday swings. For those with an average of .005, a move of .05 is 1,000%. For my friends who held DROP a couple of years ago, I'm sure they remember the 9-12 month move from .0015 to 1.25. It certainly didn't go straight up, but I recall a .20 cent move to the upside one day. Imagine holding 1 mil shares when a day like that happened. Those are the days I am waiting for here with MPIX/ZZYX. Will we ever see them? Who knows. I say yes but that's just my hope.
Patience and completely understanding what one is holding with the MPIX/ZZYX team in place are being offered one huge potential for massive gains. Obviously, the company needs to execute, and I have little doubt they will make us a lot of money. Yes, exciting days ahead, imo. GLTA
