$MPIX recaptures 20 DMA/Bears fail to break 50 DMA

$MPIX recaptures 20 DMA/Bears fail to break 50 DMA

The trend is your friend and right now the trend for $MPIX is up. Bears spent most of this light volume day attempting to break the 50 DMA support line via bidwhacking. As you can see there was a 1 million plus share bidwhack a right near the close. You can also see those 1,000 share bid whacks, 5,000 share bidwhacks, and basically annoying trades to push down the price.

Now the bashers are going to tell you something about dilution or insider selling, blah blah blah, but the fact is that today, just as yesterday, these sales come right on the 50 DMA support area. Someone is clearly trying to break that level and trigger some selling.

If you were watching the L2's today you may have noticed million plus bid orders at .0025 and sometimes down on .001. Gee do you think somebody wants your shares?

This is exactly what the bears did back in mid May when I first got here. They would bang on support until they scared all the weak hands and a bunch of people dumped millions of shares indiscriminately. That is how I loaded up on this stock originally and have been selling the rips and buying the dips.

Somebody clearly wants to shake out the weak hands and as I mentioned yesterday, they are most likely doing so through naked shorting, which means that this is probably a small hedge fund or institutional trader. If you watch the MM's on the L2 you will noticed guys like CSTI, NITE, and VNDM constantly playing the ask. Those are not retail.

In any event, I am much happier doing updates here on Investor Hangout and hopefully we can keep this place basher free for a while.

Once again, $MPIX has recaptured the 20 DMA, and actually closed right on top of the green trend line from earlier. This could be a sign that the move back through the highs is near.

[IMG]http://i.imgur.com/l7y8w.png[/IMG]

[IMG]http://i.imgur.com/oP1jV.png[/IMG]