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I concur :D
With this volume I expect that great news is imminent!
Lookin purdy! If Mgmt was smart they would hire a stock promoter.
I got back in a couple of weeks ago and I like the way MDMN is trading here. It looks to me that the potential for a leg up between .17-.25 is a real possibility with what is going on with MDMN. I think there will be news before the end of the month, just a hunch.
This is a shell game. I dumped my shares today at .012.
I find it funny how a few days ago John Maddox's Linkedin page showed him as the CEO of Aspyre.com and now that is gone.
Google "john maddox aspyre" and you will see in the first search box his linkedin page link and read the description below that and you will see Current:Aspyre.com,:Halberd Group, LLC,; Sellmybusiness.com
Here is the link to his linkedin page:
http://www.linkedin.com/pub/john-maddox/6/6b8/5b5 (notice that Aspyre is now gone 'in' his page but it shows up on the google search)
I did find this however...
https://twitter.com/AspyreNetwork
Remember I was the one who figured out that Aspyre.com was going to be the first company (because it is the only company). And it has not even launched yet. And it is almost a year and a half overdue for launch according to the Twitter page above.
I DONT LIKE SNEAKY EXECUTIVES!!!
Good luck to all the longs on here. I made my money and I hope you make your money as well!
I guess I was right.
Link?
As I mentioned I spoke with John Maddox on July 3rd and he said there was going to be an announcement today but he did not tell me what the announcement was going to be.
Aspyre.com? Could this be the first company?
The UAV stuff no longer applies. So.... maybe.... remove that and... copy and paste what they stated as their new business plan according to the latest press release?
Hey MODS, UPDATE THE PAGE!
I spoke with the new CEO, John Maddox, on Thursday. He said an announcement will be out Tuesday. He did not tell me what because he said he could not but I did some research and I found this...
http://www.linkedin.com/pub/john-maddox/6/6b8/5b5
and
http://investing.businessweek.com/research/stocks/people/person.asp?personId=54801140&ticker=HALB
I think there will be a merger/acquisition announcement pertaining to the other company on that link with a webpage... Aspyre.com, he is the CEO Aspyre. (showing a launch this summer)
This is all my own research.
FACT: NEWS WILL BE OUT TOMORROW.
I may jump back in MDMN. Support, as far as I can see, starts at .0632 down to .0557. If I get the price I want I am in and if not no biggie.
It's ok. As I mentioned, if the news did not make this move up, I would dump my position. I made a great profit although I thought it would be better. I may buy back if it trades down around .067. I sold at .0874.
So I guess by the reaction that this is not so great.
Perhaps someone let the cat out of the bag?
If we can get some momentum buying we can easily see over .10c today.
If they update the metal values on their properties in conjunction with the JV and they are both good news then 1+ would be possible if they hired a proper PR firm to get the word out. Time will tell.
One of the posts in the intro to this board states that the property has an estimated 3.75 million ounces of gold. That is 4.95 billion dollars in gold at 1318 an ounce. So if there is a considerably larger amount of gold, plus all the other metal and mineral values on the properties, then this jumping to a 2 billion dollar market cap is not out of the question even if it is 'irrationally exuberant"
I admit I am very new to MDMN but I have been in the market for many years and I have seen crazy things.
One example is a company called Smart Serve Online(Which no longer exists). SSOL. It went from .07c to $186.00 in 3 months. So it is not out of the question.
If the news is good I would prefer it to hit after July 4th so everyone is out of vacation mode.
There is a slight possibility that we could close at .089, slight.
In the words of you Beth...
Profound!
And, sadly, but given the competition, undeniable -- Post Of The Day!
Thanks! I am familiar with the usual cast of characters that hang around these boards but thank you for the warning. And yes anyone who thinks market makers or management bother with these boards is delusional.
Based on my research I believe that this company is at a very important point and the potential is there. Again, as I have mentioned, I use charts as my main approach. News is important but charts, to me, are more important. As I have previously mentioned, the 17c-19c area is a major resistance level and if we can get above that congestion on heavy volume then MDMN can be a huge winner for everyone that is long.
I think this is a possibility because of the age of the management(they want out in my opinion), how long the company has been around, and the issuance of the $35 million in Preferred stock tells me there could be something ready to happen that could make this stock move sharply higher. None of this matters unless the stock breaks above .19c very strongly.
I just got involved with MDMN back in the beginning of April so I admit I am new. I only found this resource very recently. I joined here because I like to hear about the company from people who know more about it. A friend of mine told me to take a look at MDMN and I decided that I would throw a little money into. I am not a penny stock guy but I find the history of this company interesting and I think there is potential.
I realize a lot of people here have been through some big ups and downs with this company and their management, I am not in that same boat.
I am familiar with insider trading laws however I believe that they are broken quite often.
I was a professional trader for for others for 17 years and retired at 42 and now just trade for myself.
I suspect that when this deal is announced that MDMN will talk about how much of these metals are estimated to be on their properties along with the terms of this JV (hopefully).
The lack of volume tells me that either these insiders are very tight lipped or not telling any of their 'friends' because the deal sucks.
We are done for today folks. I highly doubt we trade over the 1million shares + to get above .09 today. Since as of this post only 674,410 shares have traded for the day.
I know, I know penny stocks are different, blah blah blah.
"What" is More Important than "Why"
In his book, The Psychology of Technical Analysis, Tony Plummer paraphrases Oscar Wilde by stating, “A technical analyst knows the price of everything, but the value of nothing”. Technicians, as technical analysts are called, are only concerned with two things:
What is the current price?
What is the history of the price movement?
The price is the end result of the battle between the forces of supply and demand for the company's stock. The objective of analysis is to forecast the direction of the future price. By focusing on price and only price, technical analysis represents a direct approach. Fundamentalists are concerned with why the price is what it is. For technicians, the why portion of the equation is too broad and many times the fundamental reasons given are highly suspect. Technicians believe it is best to concentrate on what and never mind why. Why did the price go up? It is simple, more buyers (demand) than sellers (supply). After all, the value of any asset is only what someone is willing to pay for it. Who needs to know why?
Conclusions
Technical analysts consider the market to be 80% psychological and 20% logical. Fundamental analysts consider the market to be 20% psychological and 80% logical. Psychological or logical may be open for debate, but there is no questioning the current price of a security. After all, it is available for all to see and nobody doubts its legitimacy. The price set by the market reflects the sum knowledge of all participants, and we are not dealing with lightweights here. These participants have considered (discounted) everything under the sun and settled on a price to buy or sell. These are the forces of supply and demand at work. By examining price action to determine which force is prevailing, technical analysis focuses directly on the bottom line: What is the price? Where has it been? Where is it going?
Even though there are some universal principles and rules that can be applied, it must be remembered that technical analysis is more an art form than a science. As an art form, it is subject to interpretation. However, it is also flexible in its approach and each investor should use only that which suits his or her style. Developing a style takes time, effort and dedication, but the rewards can be significant.
These are not my words here is the link...
http://stockcharts.com/school/doku.php?id=chart_school:overview:technical_analysis
Beth0515- Fundamentals do not play a role in technical analysis. It is strictly price, volume, support and resistance levels.
It is all about accumulation and distribution, relative strength and many more technical studies that go into a chart. It is both an art and a science combined because it is how the individual reads the charts that makes it an art.
That being said shares outstanding do not matter. It works with companies with 10 million, 100 million or 2 or 3 billion shares outstanding.
Think of the law of supply and demand. If more people want it then it is more valuable and if less people want it then it is worth less. That is for anything including stocks.
When I look at this chart I see major resistance between 17c-19c regardless of what you think the reasons are as to why it did or did not punch through those areas does not matter. What matters is if, on the next leg up, it breaks through those resistance levels or not.
In my experience the harder the resistance is to break through the greater the move to the upside once it is broken.
Based on what is going on with MDMN there is that potential but do not think for 1 second that if there is a stall at .17c-.19c I will not dump my position.
As far as the $35,000,000 in preferred shares, I would say they have already been converted since the stock traded over .10c so your shares outstanding are what they are plus an extra 350 million common shares.
But make no mistake that Market Makers will let this thing fly if there are large buy orders hitting the tape.
If fundamentals were a true measure of stock prices then all we would all have to do is buy companies with low p/e or price-to-book or price-to-sales ratios and we would all be multimillionaires.
I have no emotional attachment to MDMN I am using it to make money, that is all. I realize from your posts you are in a different mindset than I.
I use technical analysis as my main approach. It works for me but it does not work for everyone.
I believe things will be clearer in very short order whether good or bad. I tend to think it will be good based on my entry into MDMN. I can not speak for anyone else but myself. But I do wish for everyone who is involved on the long side of MDMN to make a killing!
Thank you for your post Arkeo! I have been in MDMN only the last few months. I was lucky enough to buy a lot of stock near the recent lows. I am a technician. I look at price and volume. Resistance and support levels.
What I see is that there is a lot of congestion around the .17-.19 area. As I have mentioned before, if, these levels are taken out with sufficient volume then it would not surprise me to see a much sharper move up. Where the stock goes if it does breakout is another question. It really depends on the quality of the news and what it means for the company going forward.
I have seen stocks like these go from .05c to 2.25 in a few days, it is very rare however if MDMN management is smart then hopefully they hired a company that promotes these types of companies when there is big news on the horizon. It could bring thousands of new shareholders to the party and help a lot of the people who are looking to get out-get out.
My guess is that we will get this news before next Wednesday so these guys can be home for July 4th. Just a guess, but, it seems there is a lot of guessing going on here already.
By when? Cause you need volume for that!
It has to get over those hurdles first and then it is a whole new ball game. But those are some big hurdles, technically speaking.
.19c is the highest MDMN has ever been as far as my chart says. There is a lot of resistance at .17c
So if this is something 'big" or a 'game changer' then these levels have to be taken out with strength in volume and price action. Volume is key. Otherwise it will top out around these historic levels and drift back down. Period.
It is all a guessing game unless you have insider information and if there was a 'leak' then the 4.52 million shares that traded today would have been 45 million shares and the stock would be much higher if there was 'good' news and it was leaked and down if it was not so good.
So keep guessing if you want but none of us knows anything except where MDMN has been and where it closed today. But we have no idea where it will be going.
Don't like the lack of followthrough from a technical standpoint.
Looks like we are done here for today.
What is your timeframe for the $2 level?
I've got a better one:
I'm not convinced yet. Volume tells the story and it is not good enough!
Ground control to Major Tom? LOL!
tic toc? That sounds like a bomb getting ready to go off.