Nice ascending line on our intra day lows for the morning. Unless volume totally dies we should see a sustainable action in the .14's this afternoon. Time to start the train moving again. Slow at first until her fire gets stoked and she gains a head of steam.

Definitely hitting overhead pressure here. Looking forward to an illuminating day!

I think he is trying to say that a 100 share trade at .18 is the equivalent to fools gold. Sure looks nice but ain't worth crap.

that's fine by me. Either way we are going back onto a lot of watchlists next week after today's action.

Now that the heat is off we get to see if she is going to test her new range or keep riding high on the hog.

Wonder if it is that airline fund rj was talking about.

Just love it when my ticker starts blinkin like a christmas tree! :)

Yeah it was...literally went through a million shares in one minute.

THIS VOLUME IS INSANE

MAMA MIA!

Someone big has decided to get in. We are gonna bust into the 14's very soon if this volume keeps up.

That was a very rapid ascension. I am thinking we just got a new institutional buyer personally. Doubt we have the retail bones to end us above the .14 EOD though.

I would agree with some of that.

The stiff overhead resistance is the converted shares being transitioned as the former long term debt holders look to recapitalize. They are what capped the April run to .20 and they are what capped the July run as well. I thought volume was strong enough to push through but I ended up wrong there.

The rest of the trendline is retail. When you have a company that could be delisted sellers are aggressive and buyers are cautious.

Obviously I am bullish here or I wouldn't be writing. I like that we seem to have solidified above the .10-.11 which is where she was sitting prior to the Delta judgment and I do believe that we will see an upswing in pps prior to earnings which should spark the next push. When we reach the .20 we will unfortunately still feel some stiff resistance but I thought we could break it last run and after than phenomenal volume I am certain we will break through it on the next.

My main thing is that I don't see an upside for the MM's to allow this to break out of the trend so early. With volume as low as it is they should have all the cards they need to control price movement...so...why a candle now?

Are we really gonna pull off a white candle on such low volume?

Where did all the sellers go?

(Not that I am complaining, mind you. Just curious to the sudden let up on the downward pressure.)

Quite the little seesaw we have going this morning.

50k under bid 4 seconds after the bell.

Don't worry too much about it. Bid will open above .12 tomorrow, that is something they won't be able to jiggle on the chart.

OK...

So I figured out the big income tax burden was triggered by the issuance of securities to restructure long term debt so that was a one time deal.

Still trying to understand the large unusual item in the 2Q Expenses report but I have also figured out I was looking at it wrong and that items in parenthesis are incomes when reported under Expenses.

Not a great numbers man as you can perhaps tell. :)

Could one of you who has studied the Quarterlies tell me why there were such large uncommon expenses and tax burdens in the 2nd Quarter? They were a one time deal right?

Order Size starting to grow. Might just break the .14 resistance here.

Looks like we may have finally chewed through the excesses of the run two weeks ago. Should start drifting north on 3Q revenues anticipations IMO.

If the pattern of the past couple days holds true we should get some late day volume and appreciation.

Wish we weren't quite so dull mid day but as long as we close green that is what counts.

Not terribly happy with how we have been trading for the past half hour. Being led around by the nose IMO.

Got the feel of a good day shaping up here...

Even the DOW is green (for the moment)

Premarket hits already this morning

Is it finally time to give the 14 another push?

MESA's VP also acts as their general council. Both titles are listed on his form 4's.

Sigh...I hate when rookies dabble in pennies and don't understand the difference between a market order and a limit order.

Ah well...shouldn't make a difference. We are too close to having the float bought out for that to have any lasting effects.

Here we go now.

Bottom is in and it is time for the feast to begin!

Big blocks starting to show on ask. the first of the feeders.

Dude, someone is gonna feast on cheap shares once bottom is tested.

Looks like they want her to touch 15 one more time

upticks on bid and ask premarket

How can the float be 140M considering the rest of the information in that report?

Alright guys,

I went through the Form 4's and 13G's back to January 2008.

I can't promise I got absolutely everything but what I did get should be correct.

First company officers and family holders:

Jonathan Ornstein - CEO - 253,103
Ornstein Relatives - Mother - 10,000
- Daughter - 14,000
- Son - 14,000
Michael Lotz - President - 145,716
Brian Gillman - VP and General Council - 21,401
Paul Foley - COO - 100,000
Peter Norstrand - Director - 92,163
Maurice Parker - Director - 22,163
Daniel Joseph Altobello - Director - 20,663
Richard Theyer - Director - 17,663
Carlos Bonilla - Director - 15,163
Joseph Manson - Director - 13,663
Robert Beleson - Director - 13,663

Total held by Officers and family - 753,361

Note 1: I did not see a single sell made by an officer though January 2008
Note 2: The Vice President also has the title of General Council which may indicate the company is keeping legal costs related to the Delta lawsuit at a minimum.

Institutional Investors:

Capital Master LLC - 13,083,732 (This is total held after cutting position in half in May 2009)
Deutsche Bank - 12,726,422
Goldman Sachs - 10,109,356
Paribas Arbitrage - 7,315,268
Donald Smith and Co. - 2,754,861
Dimensional Fund - 1,678,569
Citigroup (Various Funds) - 1,460,581

Total held by Institutional Investors: 49,128,789

Total OS per website - 146,612,000

Total OS after removing shares held by Institutions and Officers - 96,729,850

Cheers

Nevermind

If Mesa has OS listed at 146M on their own website then it had better be accurate.

So in the last two days we have traded over a third of the entire OS and that isn't even considering how many shares are currently held by officers and institutions.

Hmmmmm. :)

Are we certain the OS is around 140M? I am seeing reports of anywhere from 25M to 299M.

LOL

I think you reload the boat at .175 when you are convinced there are no more chances at .15 :)

Gonna take off for a while and let this stock do it's thing.

Later

Pretty big liquidation there. Looks like you are gonna get your shares at the right price food stamps

Aye...

Intraday chart starting to turn a bit also. Could be I just spoke too soon.

You are right about market pressure though. Hard to have a good day when the DOW is off by 175 and a negative report on the airline sector came out same day.

Yeah...

Intraday we have lost the support at .18.

Gonna hold for Monday though. See if the what a long weekend with a chart showing all time volume high does to bring out new investors.

Here it comes!!!