Charting
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Whats going on with you? You Disappeared for a while there, are you even in this stock still? Or did you bail? Next Round of Financing is on the table Right Now, and about to be Relisted on the BB, that should send this Stock into Orbit, have to get rid of all these "WEAK HANDS" First, Let all the Bailers Bail so we can get ready for the next run into the TEENS!!!
Chart is screwed eh?
Billy It would seem pretty stupid on their part to short the stock at these levels, but how else would we explain the trading activity? We know the actual float is so small that there are hardly any shares available, so where are these 503,000 380,000 200,000 after the bell trades coming from? and all the buying that has been going on and they take it down to .032 on nothing trades? It Doesn't make any sense. Unless this guy just put them in a margin account and is selling them and the broker didn't notice the restriction stamp on the cert? But that scenario is very unlikely.
Thats 200 MIL, the A/S is getting reduced from 1 Bil to 200 MIL, Check the last PR.
I heard it may be something to do with Best Buy.
harr449 You hit the nail right on the head!!! This is exactly what the shorts want to happen, keep people from buying in, they know the float is almost non-existant, and for them to cover with-out people bailing they would have to run it up to get people to part with any shares, they don't want that, that would cut into their profits, so they are taking it down, shaking the tree and scaring people into bailing so they can cover cheap, these guys are pros and are using every trick in the book to cover cheap and make their top dollar on their shorts and by the looks of things it's working, UNFORTUNATELY!
To add to my last post, anyone trading MLXO Knows that the MM's are short on shares and any significant buying pressure makes this stock run like a wild animal, the Problem we have is that it's been down for a while and not enough Investors know about it, so the buying pressure has been limited, the word has been getting out about this stock and is on alot of peoples radar, so the next leg up may see a bigger swing and break .075, if we can break .09 after that, this stock is gonna blow big. If we could just get enough buying pressure to cause a Forced-Buy-in of the Shorts, then we could have ourselves a SERIOUS RUN-UP, like the .15's we've been talking about so much.
The following is where I believe we are at right now, in the consolidation period, we have been there for almost 5 weeks now, I'd say another week or maybe a few, and we break .075 on the next leg and hopefully this gives us the MOMO to get to the double digits.
Cup with Handle:
This is one of the most common trading patterns that begins after a stock makes at least a prior up trend of 30%. That's the first thing to look for on a chart. Your first sign that this stock has shown at least some power in 30% or more growth in its price.
The next typical trading activity is to see the stock's price pull back, where in effect it is taking a break. This is where you'll see a base forming on the chart, or what we call a consolidation pattern. That holding pattern is key, since it's the area that weeds out the less committed stockholders and provides a launch pad for the stock to perhaps move up in price. Any stock requires support of strong buyers to make major price moves.
You will find that the entire base pattern should last at least 7 weeks and can be as long as a year and a half. The stock will usually not correct more than 30%, but many historical patterns have corrected as much as 50% in a severe bear market. Much of chart reading is common sense. In strong markets, you'll see stronger patterns, given three-fourths of all stocks follow the general market trend.
So, once you've identified this basing pattern, then you'll want to go through each week and look at the action. Again, you'll understand and see more clearly by linking to the above-mentioned areas for the specific signs of this Cup with Handle pattern.
To help remember the elements of a base, it may help you to make a checklist that you can use to search for stocks showing this emerging strength in their patterns:
Is there a prior up trend of at least 30%?
What type of base is it?
Is the base long enough?
Are there signs of strength and support in the base?
Where is your precise buy point?
Is there a breakout on heavy volume?
My post on Hotstockmarket; Certain Stocks are down all over the OTC Today, I was watching KLGE Level 2,(I just bought in last week), along with MLXO, and they Took KLGE Down to .28 from .325 on 5k trades at the same time they took MLXO down on 5k trades all at around 1:45, it was like the MM's had certain stocks all hotwired together to take them down at the same time! Damnedist thing I've ever seen! I wouldn't get too worked up about this dip, I see it as another buying opportunity, the CEO has another awesome PR in the works and hopefully we will break the resistance at .075 next leg up. Patience Wins out here, I've been in this stock for over a year and have bought at .09 all the way down to .005, I've played the highs and the lows During this whole time period, you have to trade these stocks, buy the dips and take some profits at the highs and then buy back when it dips again, stocks will take a dip after a run-up it's just the nature of the game, all stocks do this not just MLXO, I've traded this stock so many times that I made my Initial Investment back Months ago and have been trading free shares ever since, But I have held a Minimum of 500K since last fall, I will hold no less than 500K of MLXO Until it hits the Teens, Until then I will flip a hundred K or two on the highs and lows trading in 5K to 30K blocks.
Chart is Looking Awesome!!! Below--->>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
ecp1976 Where were you when this ran to .09? This is definitely going to the teens, the MM's can't keep it down too much longer, especially when they get back on the OTCBB. The new IR Firm I heard has the Stock valued at around .15, just what I heard, they need to PR that info for sure.
I think they are trying to shake weak hands, the shorts know they have to cover now, they want to cover as cheap as possible, so they are trying to get people to bail in order to keep the price down so they can cover cheap. Just my opinion.
Nope still holding for the big Kabooooom! I'm not the seller, whoever is bailing will be sorry when this is .15-.20 or more. If I sell-out, I will post it and turn the moderator duties over to someone else, but I don't plan on selling anytime soon, and even if it runs to .15-.20, I won't sell all, I will keep a couple Hundred K for .50+.
Looks like we may have a Double Bottom at .20, even though most Double Bottoms usually have a longer space in between.
I found this filing by KLGE Dated 2-21-2006, a 15c and the O/S is still only 63 Mil, does anyone know the current updated O/S? Just thought I would ask before I called the T/A.
Zagdad; Press Release Source: Michelex Corporation
Michelex Corp. Announces It Has Reached a Settlement With Wells Fargo
Wednesday April 12, 3:15 pm ET
MASSENA, N.Y., April 12, 2006 (PRIMEZONE) -- Michelex Corp. (Other OTC:MLXO.PK - News) has reached and signed a settlement agreement with Wells Fargo to end any/all litigation.
ADVERTISEMENT
Michelex has agreed to pay Wells Fargo $1,025,000.00 by April 20, 2006. Michelex also agreed to pay $1,400,000.00 by August 31, 2006 in full settlement of all debt to Wells Fargo. In turn, Wells Fargo has agreed to forgive $633,684.18 of debt for any claims Michelex has against Wells Fargo. Thomas Gramuglia feels that this settlement was necessary in order for the company to return to ``pre-2004'' levels and regain its market share.
Michelex is also pleased to announce to further reduce its' debt, it has signed an agreement to sell its building in Salt Lake City, Utah. In the agreement, Michelex will continue to rent space so its manufacturing facility will continue to operate. The first years' rent was included in the sale price. Once the sale is finalized which is expected on April 21, 2006, the company's debt will be reduced by $2,500,000.00.
These developments are very positive for the company and will allow the company to implement its plan to move forward and regain profitability.
ABOUT MICHELEX
Michelex Plastics, founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio - Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products - Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
Contact:
Michelex Corp.
Thomas Gramuglia
(315) 769-6616
--------------------------------------------------------------------------------
Source: Michelex Corporation
zagdad Your Kidding right? You don't mean to tell us all that you missed the PR last week do you?
It appears that Cornell did the Majority of their Coverting Shares to cash above .15, The majority of the Shorting was done above that too, I'm sure they did some below .10-.15, but they made their BIG MONEY much higher, Look at the volume in Oct.-Nov. 2004 and the Share price back then, they ran the Share Price up to $1.58 before the Shorts came in like a Bear on a Feast. Just my opinion.
Hurley very nice article! I'm sure the Cornell Short-sellers have heard about this, they have to be taking drugs just to sleep at night I bet!!! The SEC should have some news on Cornell soon I hope, 9 companies wow, Cornell is gonna gets theres for sure, hope they have to pay michelex a hefty restitution fine.
BUY-CONFIRMED!!! Americanbulls.com
Oh ok, Your post didn't sound that way when I read it, Lets hope we have alot of Dead Money moving into MLXO.
Billy I really don't think we will see any major selling tomorrow, most people that are holding this know there is much more ahead in the short-term, and are holding, we seem to have based here around .05-.06, next week I think we will see a move upward, the cup and handle looks ready for a break-out, most cup and handles will have a short LULL in the action just before taking off, kind of like the calm before the storm. Just my opinion, we will see what happens next week, many are on vacations this week.
Check out this link, is this you when your stock tanks???
http://i17.photobucket.com/albums/b52/DeportTheWitless/Killthecomp.gif
Harr; I picked up 10K and 15K at .055 before the close.
Watch for a PR on Monday possibly, I heard they will have one early next week for sure, most likely Monday. They were going to hold this one off until Monday and put out a Full Length PR Covering Many New Developements, but they had to PR the signing of the Wells Fargo settlement. You have to be happy that we are holding our gain to .05-.065 area, last PR we had short-term Pumpers and Dumpers selling off and in combo with the shorts, we crashed from .09 to .024, so this is very positive that we are holding ground here, now with some Institutional buying should be coming along with short covering, we should break the former high of .09, double digits will be next.
Thanx Moe for Confirming my prior posts.em
Come-on Volakin,(Pre-Lips=New2005),,,,,,,,,,,,,,,,,,
NOW DON'T PUT WORDS IN MY MOUTH. These are your words NOT MINE! Thats how you got in trouble before on the I-Hub Boards. Do any of my posts say that? Better wake-up yourself and realize that the Stock Market Game is Rigged in the Houses Favor just like the Casino is,(But not as Bad), The MM's are the House and "Most of the Time", they are Better Informed than We are. Michelex happens to be one of those "RARE" Finds. Thanks to the New SEC Rule going into effect in July, we will now know the Short Positions of the BB and Pink Sheet stocks.
Posted by: volakin
In reply to: Investo7 who wrote msg# 4150 Date:4/11/2006 11:42:45 PM
Post #of 4152
So you think MM's are the smartest folks that ever lived.
Wake up.
You are Very Naive, and Gullible to think that these Market Makers are not "WELL INFORMED" about the Stocks that they Make a Market for, and will Bend the rules for the Institutional Banking community. It just shows your Lack of Experience in the Markets. Maybe one day your eyes will be Open. Since you are posting on the Christian Cafe board and seem to Read the Bible a little, you might be Familiar with the Phrase; Where as Once I walked in Darkness, Yet "NOW I CAN SEE"!!!!!!!!!!
You really do have alot to learn! Think about this for a minute, who will the MM's look out for first, the retail small-time Investors like us, or the Institutional Bankers Like Wells Fargo, Cornell Capital, Investment Bankers that Advise Corporations and put Multi-Million Dollars Loan agreements Together like Michelex has had, the same Investment Bankers that handle Numerous other Corporate Funding deals, and when they sell-short a Corporation like Michelex, do so to the tune of Multi-Million Dollar Short-Positions, do you think for one minute that these Proffesional Market Makers are not kept up to speed on what the Companies are doing? The same Company that they are Making a Market for and Handling Millions of Dollars in Trades, do you think for one Minute that they aren't doing their homework? Most of us retail traders are doing this on the side, part-time, as a way to make extra-cash besides our Job, while these Market Makers EAT AND SLEEP THESE STOCKS 24/7, BELIEVE ME THEY KNOW MORE THAN WE DO MOST OF THE TIME, THEY KNOW GOOD AND WELL WHAT WELLS FARGO IS DOING, THEY KNOW WHO IS SHORT ON THIS AND THEY WILL KEEP THIS PPS CONTAINED AND DOWN TO THE LEVEL THAT THE INVESTMENT BANKERS WANT TO COVER AT, THE BEST THEY CAN, DEPENDING ON THE LEVEL OF RETAIL BUYING THAT COMES IN. If the Retail Buying Levels off like we have been seeing, do you think for a Minute that these MM's will not try to Manipulate the Market here to make the Investment Bankers happy? So they can cover on the cheap side? OF COURSE THEY WILL!!! Ever Heard of a KICK-BACK???
Just called the company, The CEO is out, but I found out that the PR is DONE AND READY TO BE RELEASED! But they are waiting on 1 piece of paper from Wells Fargo, 1 Single File has yet to be faxed over and then they can Release the PR, They said that the odds are very good that it will be released Today, if not, it will be out Tomorrow at the very Latest, so I feel better now, we might have 1 more day to wait, "MIGHT". So keep your eyes open Today.
I changed the CMF on the I-Box Chart to 10 Day For a more accurate reading.
Chart is showing a nice steady uptrend gaining ground everyday, this is good for building a nice base instead of the big swing to .09 we had, only to be shorted back down to the .02-.03 level, hopefully these gains we are having will be stable ground and we will hold to these gains and not get shorted back down anymore.
Americanbulls.com Posted BUY-CONFIRMED Friday!.em
Only Matt can Boot the guy I think, Myself, Hurley, and Speed can Delete his Messages, but only Matt can suspend him which would limit his posts to the Jailhouse I think, If I can Ban the guy, then I don't know how to do it, never had too, I sent Matt a PM about him, waiting to get a reply back or just see some action, check the Jail periodically, if you see him post there, thats usually a good sign that hes been suspended. Matt doesn't always reply, he just acts, he will suspend the Villian and not send a reply back, in this case, I don't really need a reply from Matt if he just Suspends the guy, or a good firm warning from Matt sometimes will stop the crap Too. If anyone knows how I Ban this guy from this board, if I can, please post it so I know.
This Chart? Oh this Chart! If it were a Steak? I'd eat the Dam thing it looks SOOOOOOO GOOOOOOOOD!!! A BEAUTIFUL CUP AND HANDLE ALL READY, SET, GO, AND BAM, BREAK-OUT TO THE UPSIDE!!! WHAT A THING OF BEAUTY THIS CHART IS RIGHT NOW! Sorry had a few Drinks and I thought this Chart was a Steak there for a Minute! LOL, HAHAHAHAHAHAHA.....................................
Speedy, same to you man! Feel free to "Delete at will" in regards to this punk, we don't need a side-tracking Gck-off after a year of our time in this stock.
Hurley Hey man, feel free to "Delete at will" in regards to this punk, we don't need a side-tracking Gck-off after a year of our time in this stock.
g-invest This Company has had "1" PR in "9" Months, SO WHERE DO YOU GET OFF SAYING THAT THEY ARE RELEASING ALOT OF SPECULATIVE PR's? PR's as in PLURAL, Meaning MORE THAN 1??? Michelex has had a GRAND TOTAL of "3" PR's in the last "12" (count them) "12" Months, ARE YOU A FREAKING IDIOT? THIS COMPANY IS ON THE LIST OF THE TOP TEN COMPANIES THAT "RARELY" RELEASE A PR!!! 1 PR IN 9 MONTHS AND YOU WERE CALLING THEM A "PUMP AND DUMP" IN AN EARLIER POST OF YOURS THAT I DELETED, ONE MORE OF THESE NASTY UNTRUE POSTS FROM YOU AND I WILL JUST DELETE EVERYTHING YOU POST ON THIS BOARD, "EVERYTHING"! GOT IT THERE GCK-OFF???
Anyone that has the need to start selling before we break-out into the teens or even the .20's, Please DO NOT WHACK THE BID ON THE REST OF US! PLEASE ONLY SELL SMALL BLOCKS LIKE 20-30K AT A TIME, AND SELL AT THE ASK, THE MM'S DON'T HAVE ANY SHARES AND THOSE WHO WISH TO BAIL, AS LONG AS YOU DON'T SHOW DESPERATI0N ON YOUR PART, AND SELL LIKE I JUST OUTLINED, YOU WILL MAKE MORE PROFIT THAT WAY ALSO. IF THE MM'S GET SOMEONE WHACKING THE BID WITH HUGE SELL BLOCKS THEY WILL TRY AND KEEP THE PRICE DOWN ON US, SO PLEASE, "NO BID WHACKING NEXT WEEK"
Parobolic SAR Just dropped to the buy-side on the daily chart in the I-Box!!!!!!!!!NICE!!!Our next uptrend underway!