Charting
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new5005; You seem to profess to be a Christian, so why don't you pray for WISDOM and INTELLIGENCE! You have a serious need of KNOWLEDGE Bigtime! Start with the book of Proverbs or something, maybe go and get your High School Diploma!!! LOL!
DEAD DUCK; LOL! What was your alias? Why did you lose it? just curious. You don't have to reply if you don't want to.
DEAD DUCK; I agree, I am waiting for a solid bottom and then I have set aside several grand to load up with. When Michelex is done restructuring and they make a move back to the BB or even if they happen to get real bold and try for the Amex, this puppy will see one heck of a bounce In My Opinion.
new5005; Hey Rookie, like they say, We report you decide, I reported what management told me, nothing more nothing less, you decide how much Integrity they have. Why don't you call them yourself from now on and refrain from even reading my posts, I would personally appreciate it much! Go bother someone else with your meaningless blather, I don't have time for Insolent Fools.
new5005; Don't let what bother me? Man dude I wish your posts made more sense, then at least your posting would be contributing some intelligence to this board. Where in my post did you get the impression that anything was Bothering me in the first place?
No mention of Termination of Cornell Deal? That is little strange. Some here are not getting the overall picture, I don't blame anyone for bailing though, but my take is they are drastically curbing spending in order to get back to doing profitable business again, possible Amex listing is a good sign, I mentioned that a while back, not Amex but Nas small-cap. This PR is only a month late along with the late newsletter, this is a start but we need much more than this. This is part of the risk Investing in penny stocks, the whiners may be better off bailing. At least there is no talk on bankruptcy eh??????? That would suck!!! I will ride this one out.
lakers17; Tom G. said that back in April long before they were delisted to the pinks, he said that in response to the question about what they needed all the financing for. I questioned the need for a $10 Mil dollar SEDA when the company has $15 Mil in assets and has had the pleasure of having 28 years of profit, he said mainly for raw materials for their manufacturing, he said sometimes they get swamped with orders and don't have the capital to purchase enough raw materials to keep up and end up having to turn down some business. Thats sad when a company like this has to turn down it's main source of revenue, Also I'll bet with many plastic products being Petroleum based, with Oil prices skyrocketing, I'll bet their raw materials cost has been going up as well. This stock is going to roar when they get financed and pay off Cornell. What I don't understand is why they are having so much trouble getting financed when Major lending Corporations are lending cash out to Companies hand over fist right now with Interest rates as low as they are.
todayinow; I don't, thanx for the vote of confidence. I am not trying to defend Tom G. and his lack of Regard for shareholder confidence, or the Idiot IR guy. The bottom line here is that we are dealing with a company that has been turning away business because they lack funds for raw materials, they can't even keep up with their orders, they have been massively manipulated by a giant, greedy hedge fund that have their claws sunk in deep. Things like this don't get turned around overnight, they take time. I have over 10G's in this company and I am not bailing because the hedges are naked shorting this to keep the downtrend line from becoming bullish, we are still on the sho-list, and I doubt that any of the legit shorts have been covered yet. Cornell will play this out to the very end, what have they got to lose? Michelex is done with them, so they haven't a thing to lose. I am just trying to look at this from a longer-term outlook, ya know the bigger picture.
bankofblake; Try glasses or contacts and reread my post before you criticize me please! My post said quote; I am "NOT" comfortable with the decline. Please have your facts straight before bashing me, I am not defending Tom G. or the IR Idiot.
Posted by: Investo7
In reply to: bankofblake who wrote msg# 1846 Date:6/30/2005 11:33:19 AM
Post #of 1851
On the bright side, at least we are dealing with a 33 year old company that has seen 28 years of profit and whose product is still in great demand, granted the head of the company is inexperienced in the public traded arena, but he broke it off with Cornell as soon as he realized the mistake, so hes not that stupid. They have a lot more riding on this than we do, I am not comfortable with the decline, but I am comfortable to believe this will turn around. Patience will win out here in my opinion.
lakers17; Yeah but one thing you have to consider is that the company has more orders than they can fill! That tells me that their product is in great demand, and when business is booming like that the chances of the company folding are pretty slim, I agree that their handling of the Investor Relations side of things is awful, I blame that on the IR Guy, hes a Joke, Tom G. needs to fire the SOB and hire someone thats going roll up his sleeves and get down to business, it's Toms fault for not replacing him. Also they just paid off Wells/Fargo, once they get Cornell paid off we should see a turnaroound in my opinion.
On the bright side, at least we are dealing with a 33 year old company that has seen 28 years of profit and whose product is still in great demand, granted the head of the company is inexperienced in the public traded arena, but he broke it off with Cornell as soon as he realized the mistake, so hes not that stupid. They have a lot more riding on this than we do, I am not comfortable with the decline, but I am comfortable to believe this will turn around. Patience will win out here in my opinion.
wzebra33; In my opinion Tom G. doesn't really seem to give much of a chit about us Investors, that might sound crude, but I call it like I see it, I mean really, how hard is it to put together a newsletter? I could do it in a day or two! Whats this Charles guy doing? He can't even return phone calls or answer emails! Tom G. and family are the majority shareholders so they care about the PPS, but us? Not much. I think he is focused on getting the company profitable again and getting out of the hole they are in, we are an afterthought, reality speaking.
I just want anyone reading this thread to know that I am planning on averaging down again, BUT, I AM NOT ADVISING ANYONE TO DO SO. Make your own decisions based on your own DD and Financial ability. Just because I call the company and have conversations with the head of the company and post my findings in no way makes me affiliated with the company other than a concerned shareholder, and just because Matt gave me the responsibility as moderator of this thread in no way means I am giving ANYONE Financial Advice. Do your own research before Investing, don't take my posts as Investment Advice.
wzebra33; Ferrari!!! Yeah, that was a good one!LOL!Seems like the Ferrari needs a Jump or a new Battery too! Tune-up Maybe? Maybe the Motors blown? If they are that much in debt, maybe it got REPO'd???
wzebra33; My wish right now is that some shareholders here who plan on sticking this one out would call Tom G. or email him and see what he tells them, I feel almost all alone here, I only know of a couple others who have called and spoke with Tom G. or emailed him. We need to really start a storm of phone calls and emails, light a fire under their azz. We need to know whats going on, wheres the 10K, the 10Q, the newsletter for June, the PR's we were told were coming??? I have done this many times before in stocks that I had alot riding on, having a lot of conversations with management, but I don't like to be the only one and then get scrutinized by everyone when those doing the scrutinizing don't call or email at all. I am only an Investor, I have no ties or relationship with Michelex at all, other than being a shareholder, in fact, before March I didn't even know about Michelex at all, I was refered to MLXO by an Investor on another online Investment Forum, I chose to use I-hub to post info about MLXO because there is almost no dialogue going on about MLXO on any of the other Investment Forums that I am a Member of.
purlieu; I just posted the info in the I-Box up at the top for all to read in a summary.
purlieu; OK heres the scoop, back in Oct. 2004 an investment banker was advising Michelex, this Idiot was the one who hooked Michelex up with Cornell, at that time according to Tom G., he had no idea what Cornell would do to the Michelex Stock, and he was unaware of their reputation. Michelex signed a SEDA with Cornell, (Standby Equity Distribution Agreement), I think it was for $10 Mil, That means anytime Michelex needs cash, Cornell would cough it up. Back in March-April when I first began speaking with Tom G., after he found out what was happening to Michelex stock from Cornell selling and short selling, he told me that; "They were not going to draw any funds from Cornell and were seeking alternate financing", ALL OF THE ABOVE ARE TRUE, BUT WHAT HE FAILED TO MENTION, AND I DIDN'T KNOW AT THE TIME I POSTED THAT POST, WAS THAT MICHELEX DID A $1 MIL PRIVATE PLACEMENT WITH CORNELL BACK IN OCT.!!! I just recently found this out, I knew about the Private Placement from reading the SEC summaries but I was unaware that the Private Placement was to Cornell Capital and was for $1 Mil, I was just recently informed of this by "speedmasters", I believe he posted it a couple weeks ago, but I spoke with speedmasters on the phone a couple weeks ago and found this out. He found out from confronting Tom G. a couple weeks ago about the Private Placement and who it was with. I thought most everyone who has been on this thread new about that, I am going to put a write-up in the I-Box with the facts we know about the Cornell Deal so everyone can read it.
bankofblake; One thing you have to understand is the fact that Michelex still owes Cornell Capital somewhere in the neighborhood of $500K on the $1 Mil Michelex borrowed last Oct., I was under the impression that Michelex didn't borrow any funds from Cornell, but they did last fall, Cornell sold approx. half of what Michelex borrowed and according to Tom G. Cornell has agreed to stop selling shares while Michelex acquires new financing to pay Cornell off, so as long as Michelex still owes Cornell $500K, they are still a MAJOR PLAYER here, if Michelex doesn't pay them off, they can go back to Converting and dropping the PPS even more, when the day comes that Michelex pays the Greedy Bastards off and they PR that, we should get one hell of a bounce, because in my opinion Cornell has yet to cover their shorts and they have no incentive to do so until Michelex pays off their debt.
One thing to note concerning the chart for MLXO, the CMF is in very good territory, the STO has dipped below 20, we are hugging the lower Bollinger, between .02-.025 breaks the Longterm Downtrend, the fact that MLXO is on the SHO list again is proof enough for me that this is being manipulated by the Hedges that shorted this, they don't want the Downtrend line broken just yet, they are hoping for Longs to bail, In My Opinion, The MM's are very low on shares, the proof for that is the movement in PPS on such low volume, a 26 Mil float should not be moving like it is on 20-50k volume days unless there is very little shares in the MM's coffer. I think the outstanding short position has yet to be covered, and they are hoping to cover in the subs, thus the reason for the short-fails, the MM's don't seem to have any more shares to loan out for shorting, so the are naked shorting enough to keep it from breaking the Downtrend line. Once the Downtrend is broken, it starts to look Bullish to Investors and thats the last thing Cornell and company wants, Bankofblake said that the Cornell deal is history, BUT IT'S NOT!!! Michelex still owes Cornell somewhere in the neighborhood of $500K, and I don't believe Cornell has covered a Dam Short sold Share yet. If Michelex doesn't pay Cornell soon, they can resort to Converting Shares to cash again. From what I was told, Cornell agreed to stop cashing in on stock to pay for the $1 Mil that Michelex borrowed while Michelex is getting more financing to pay them off, (I think they still owe like $500K), If Michelex doesn't pay them off soon, more Convertible Debentures will be sold. So why would Cornell cover their short position when Michelex still owes $500K??? They have no incentive to cover right now, but they do have a incentive to keep shorting and keep any Bullish indicators from popping up on anyones radar. So since Michelex still owes Cornell $500K, they are still a MAJOR PLAYER here. This is MY OPINION, but I am sure I am at least 90% close to the truth. I am waiting for some Pink Certs right now, as soon as I get them, I am selling them all and buying as much MLXO as I can below .015, if the ask gets there.
OT; IWWDE .0005 2 days ago, .005 this morn!eom
bankofblake; I agree about the summer, without something solid from the company, sideways or down looks to be the status quo for the next several weeks. They really need to put out some info, at least get the promised newsletter out, thats a bunch of crap not getting that out when they PR'd it. Makes them look incompetent.
Transat 5; I confronted Tom G. about a Buyback a month and a half ago or so, he said he would love to do one if they had the money to do it, I told him that at these prices and the PPS movement on such low volume that even a small buyback like a couple million shares would spark investor interest at least to radar this if not jump in, but I don't think he really got what I was saying. They really need a new IR firm, This Charles guy is a joke and doesn't seem to be helping the company at all in my opinion. I just looked at the chart for BLYC, WOW, I wished I had been up on that one a few days ago, I would have bought a TON. IWWDE a sub-penny that I owned a bunch of last fall, that I sold off before years end for a write-off just ran from .0005 2 days ago to .0027 this morning, looks like they are letting that one go pink too. IWWDE Now @.0035!!!!!!!!!!!!!!! 11:30. .0039 and rising WOW!
bankofblake; All the phone #'s are in the I-Box, I believe Tom is in Massena, New York this week. I don't believe he has an email address, but you can email the secretary and she will give it to him, I sent him info on Cornell Capital back in March and I had to email it to his secretary, I think the info I sent him opened his eyes about Cornell and what was a major factor in the decline of the stocks PPS. Shortly after was when he told me they were done with Cornell. One thing you have to keep in mind is that the Major players on this stock, the Hedges that shorted this are keeping an eye on the chart and do not want any Bullish indicators coming up, this is still on the SHO list and drops on VERY LOW VOLUME, I am waiting for .015 ask and I am buying a chitload. I believe they have shorted this more to keep the chart from breaking the down-trend line and dropping the PPS to get shares from the longs, Patience will win out here providing management is getting it together and will have some good news soon. But Tom G. needs to hear from us for sure, I have tried numerous times last week, I was busy yesterday but will be calling today.
Low Volume Summer Doldrums is a given, especially on a stock that failed to file their 10K and 10Q, and is falling even more behind with info for investors. Newsletter??? The chart is off right now, stockcharts didn't record the pre-market buy @.02, I emailed them about it. Not that it makes much difference right now anyways, we need some good news. This stock needs a swift kick in the rear!!!!!!!! We are very close to breaking the long term downtrend!
bankofblake; They are definitely working, everytime I call, he is either on the phone or in a meeting. The secretary said he is so busy right now that it's real hard to catch him with free time to talk, so I just keep trying to get thru, I didn't call today because yesterday I was told he had some very important meetings going on Thursday and we be out most of the day, so I didn't even bother calling today. Besides running the business and trying to make a profit, he has the stock problem to deal with.
I've called Tom G. several times since Tues. and have not been able to get him on the phone yet, I will post anything I find out about this disappointing info I was given before.
The fact that this stock is back on the SHO list tells me that this is definitely being manipulated to keep the PPS down and keep the appearance of not breaking the Long-term trendline, Cornell and it's Hedge buds are watching this chart for sure. We know that the PPS moves on very little volume, the MM's don't have a lot of shares to dish out so they have resorted to naked shorts now to keep it down, I believe they are watching the chart and trying to drag this out as long as possible by keeping the PPS from breaking the trendline thus keeping any new Investors from jumping in. Just my opinion, but as long as we don't break the trendline, any Investors watching this one are reluctant to jump in.
At least I know my theory was right, that there is a sizeable short position here and Cornell would just assume to drag this out and let longs bail out until this is in the subs and they cover on the cheap. But in reality, the SHO list is kind of a Joke when you think about it, 10,000 shares per security, or one half of 1% of the O/S! I think many here own much more than that. With an 88 Mil O/S 1% would be 880K half would be 440K.
Hurley; The last time the CMF was this high, we were trading @.15. I think with any decent news and some decent buying pressure, this is going to fly! Also, you might want to set the Williams indicator to 28 period reading, it's more accurate in a long downtrend.
new2005; Most seasoned Investors really don't care about the product the company makes, they are interested in the specifics of the company, Financial statements, SEC Filings, Profit/Loss ratios, Share Structure, Chart, I could go on and on. The pics are OK, but I think most would agree here that they really don't matter to potential Investors, and all the Info that we have up now, the IMPORTANT STUFF, is taking up a lot of space, especially when things start to happen and we put PR links and Info in the I-box.
hurley, could you repost the chart? Thanx.Nemo; I am involved in over 80-90 various stock groups for other stocks I am involved with, Michelex is the only stock I am using I-hub for right now, if I had more time and more use for I-hub, I would get a membership but I really don't have the need for it at the moment, also getting ready to go on vacation soon, so I'll be in and out for a few weeks, but I will still be checking in every day or two.
wantoberich; Hey, would you ask Matt if we can remove post 1739 by new2005? It is MISINFORMATION! Michelex has never done a REVERSE SPLIT, only a Forward Split. This is Bad info to have up on the board, but I don't want to get into trouble with Matt for removing a post if it's not in violation, so if you can PM him and ask, if he says yes, go ahead and remove it.
wantoberich; Maybe you could Private message all those who went to the other board since it was erased now and we are back to normal, like; ecp1976, transat 5, hurley cruppers, anyone else you can think of, also please tell Matt thanx for me since I can't send a private message. Thanx.
wantoberich; Thanx that was quick, Hurley we need your chart again! LOL. I only have 4 posts left so I am going to use them sparingly.
hurley cruppers; Thats good news, a promise kept, so far. Ya know if you look at the one year chart, MLXO looks to have formed a Falling Wedge, also with a Triple Bottom, a Reversal could be in the short-term future. That is if the company gets it together and has some solid news to put out, I have patience on this one, I have jumped the gun and sold too ealry before and missed out on Major runs, I'm not missing this one!!!!!!!!!!!
http://www.stockcharts.com/education/ChartAnalysis/fallingWedge.html
We may be forming a Triple-Bottom, although a Triple usually takes Months and not weeks to form, the first two lows were almost 2 months apart. If this dips below .02 on the ask I am buying a bunch.
http://www.stockcharts.com/education/ChartAnalysis/triplebottom.html
Haddy; It's been almost 2 weeks since I last spoke with Tom G. I was going to wait till tomorrow (Tues.) and if we still don't have a PR out say by 11-12 noon, I am going to try calling again and see whats going on. I will post anything I find out if I get thru. Also the newsletters they promised are way overdue.
Shorting? By someone who doesn't want this to break the DownTrendline? I'm sure the MM's know that there are people waiting to jump in as soon as it does. Just a wild theory, I'm probably wrong.
lakers17; To get on the NASDAQ Smallcap exchange it is a minimum bid of $4.00 and $1.00 minimum must be maintained once they are there. I just looked it up. Heres a link that has lots of info on this.
http://www.gopublictoday.com/services/services-nasdaq.php
lakers17; The NASDAQ Small Cap Market requires a Bid of $1.00, if a security falls below $1.00 for 30 days it can be delisted, I believe once they get a notice of delisting, the stock must have a Bid of $1.00 for at least 10 consecutive trading days. Don't quote me verbatim on this though, I haven't read the rule through in a while. I have been in a few NASDAQ Small Caps and watched them dip under a dollar for almost 30 days and then run back up, almost as if they were a Channeling Stock, but you know someone is behind the curtain not letting it get delisted.