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No note holder would short the underlying stock without the restricted stock already priced/converted.
The note holder is simply locking in gains by shorting at high prices as in MRGE case conversion prices were what $0.05s and much lower while the stock price was rising over $0.10 then $0.20s ....
Today’s action IMO, failed break of $0.25 and some profit taking! Stock is STILL UP 2% on 660k volume WITHOUT any official PR or news! That is good in my book ;)
Note holders would only be shorting a security IF they had a big block of shares that was still restricted BUT the note holders wants to lock in a sale price now.
Short the stock collect the proceeds and cover with your own conversion shares once restrictions are lifted.
Always a possibility BUT since all notes are converted (maybe not all sold yet) chances of note holders basically shorting against the box are low...
Simple without real news there are plenty of nimble traders selling into the little hype from this great boards DD and with the delays and no PR planning on buying back lower IMO
With the big note sellers gone chances of shorting is minimal IMO
Just profit taking or MM trying to push the price lower again to bring more buying interest/volume back...
If that 250k seller block is real it will flash on the ASK during next couple days until buyers take it out IMO
Resistance @ $0.25 didn’t break and volume slowed down. With no PR or any official confirmations it’s tough for the share price to continue higher
Makes share price vulnerable to profit taking and/or MM sending stock lower all it takes is show/flash “oversized” block for sale and BOOM slides begin
This case daily volume was just about 350k shares and MM CDEL hits highest BID of the day with 350k block. Yeah genius if you really aim to sell and achieve max price.
Next break up that block, let 100k sit at the same ASK price and drop other 250k lower and hit BIDs....
Textbook ...
BIDS are building above $0.24 and $0.25 resistance is being tested.
If MM ETRD and CDEL would stop dropping 20k or 30k orders into the BID we could see breakout
MM OTCX showing best BID ....
Pressure building
Boom
MM bids are rising!
Very constructive & exciting
MMs will tighten this spread mostly by lowering offers IF there are no buyers showing up for the high ASK $0.218.
So expecting spread to tighten if buyers don’t step up and raise bids IMO
But low volume, Mexican stand off / waiting for AMLO to give green light is on
No facts,
It was meant as a general statement that retail shareholders sell out of missed timelines, fear, share price down 10% on volume makes small investors nervous
Every seller needs a buyer and with 2million in volume there were plenty of both.
Filled $0.1960 and $0.1961 today since I still believe patience will pay off but it was another “missed” AMLO news moment and I had hoped for all our sakes that “something/anything” positive would be said today....
MM NITE back EOD with 200k buying block moving it higher to accumulate.
No doubt, always do your own DD and make your own decisions!
Just sad to loose fellow shareholders close to the finish line!
Down 10%+ on heavy volume without any direkt negative news is not “productive trading” in my book.
Furthermore it is truly sad to see “weak hands weeded out here” as those are probably retail investors.
It would be great to have early retail investors finally in this rigged game here have/had a chance to beat the big money BUT now they throw the towel.
All it needed was for AMLO to drop one little tidbit about the coming exciting Isthmus corridor development news and shareholders here would continue with their conviction and the “elevated/news awaiting” share price would look much better today.
Unfortunately another news “opportunity” has passed and MRGE probably has lost some newer shareholders.
Let’s hope for “something/anything” positive that will bring good shareholders like jrf back
Steam Roller
Rocket Ship
Runaway Train
I’ll take them all
MM NITE showed up EOD yesterday pushing large BID higher into the close....
mM NITE showing up this morning too with 200k BID @ $0.20
Now MM NITE move new 100k BID from $0.21 to $0.215 .... fingers crossed for no BID whack and let mM NiTE steam roll over MM INTL lol
Jackpot
Agree!
MM INTL has 50k block for sale $0.22 and with additional confirmations now from AMLO directly that Monday morning releases on deck it’s game on!
Now the risk of “complete delays of announcements” switches to “are MRGE projects in the announcements only”
Any buying volume could bring FOMO MOMO buying and positioning for possible BIG payday coming this Monday
Looks like pre arranged trading.
The 3,999 are actually part of 4,999 which is mostly broken up into a 1,000 down tick (between bid - ask spread) and a 3,999 buy @ ASK.
Possible that MM CDEL has been disposing shares from a note (in 25k blocks) and today was part of pre arranged exchange of a bigger lot.
It’s not the first time this pattern of 4,999 buys broken up into 1,000 mid print & 3,999 ask print has been observed for MRGE
It’s Volume and that is key!
There be more volume once this right range breaks.
If somebody starts selling more aggressive below @ $0.19 I believe there be more BIDS coming in soaking up “cheap” shares
Same on the upside, if somebody were to start buying aggressive above $0.20, FOMO sets in and more buying frenzy could be triggered
Typical MM will try to induce either one of the above in order to trigger more volume which makes MM more money called the “head fakes” ....
2.5 more trading days.... that’s imminent compared to some investors here waiting for YEARS
Good luck
Jet,
You know MRGE prospects, you know about the possible announcements coming within days correct?
So are you buying because of that knowledge, are you adding?
Probably/Maybe not since you already built a position long before in anticipation.
But you are also NOT selling because of this looming great news ...
Investors & traders have positioned themselves for this event and are awaiting the ultimate AMLO reveal .... that’s why there is not MUCH trading going on IMo
Macod,
where & how did you come to the understanding the Mirage/Northern will own/operate the port of Coatzacoalcos?
This is no small boating dock but a major operation! currently 29 ships/tankers moored!
https://www.vesseltracker.com/en/Port/Coatzacoalcos/Dashboard.html
If this ALL falls into place then just like rails arrived at the port, all pipeline material for new/retrofitting for MRGE/Northern projects should arrive there as well. Wonder if pipeline cargo is already on sea?
https://www.puertocoatzacoalcos.com.mx/news/662-api-coatzacoalcos-continues-to-apply-preventive-measures-in-the-face-of-a-health-contingency-2
big important port with substantial infrastructure already in place
https://www.puertocoatzacoalcos.com.mx/news/664-api-coatzacoalcos-continues-to-apply-preventive-measures-in-the-face-of-a-health-contingency-3
Filled some $0.192 today as well.
Sure there is sellers BUT it’s not MM OTCX anymore! That’s where the real supply of shares came from the final notes!
MRGE started this year around $0.05 and currently that’s a 4 Bagger! Of course there is going to be sellers locking in profits! Especially with timelines getting pushed further out and timing still NOT set in stone.
More interested in BUYeRS and there is enough interest to absorb this 25k block dumper which displays great confidence by a lot of investors about Mirage/Wards ultimate success and ALL our financial freedom ;)
That’s what MM do, they make a market by providing Bid and Ask....
Obviously in the penny markets there is plenty of abuse and manipulation BUT big picture for MRGE VERY TIGHT range $0.19 a $0.21 the MA (50) @ $0.205
Every time the range got this tight for extended period of time 1-2 trading weeks MRGE exploded/resolved to upside!
MM ETRD was posting that 285k order while MM CDEL was still selling 25k like candy. Could be related who knows
Come on AMLO just say the words “mirage Energy”
MM CDEL has been selling ALL DAY long 25k blocks for close to 2 weeks
So maybe “retail” BUT a rich retail shareholder either liquidating or taking profits as announcements “should” be close but again there are NO announcements by Mexico yet so it’s high risk/reward!
Despite being closer than ever before to an AMLO announcement possibly as early as next week, the excitement build up / the trading volume / the trading activity / the tweets/ even board activity here has slumped.
The speculation bubble clearly got deflated, which would be a perfect surprise PR set up with HUGE / WILD share price appreciation.
One way or another it seems market players have placed their bets and just like a roulette table, the ball is rolling and shareholders are waiting for Black OR Red!
Welcome back ;)
SnL Chicago!!
New boat game cafe acquisition ;)
“End of THIS month”
That’s only 10 trading days!
Not sure if the “sell now try buy back lower” strategy is the pick here!
It comes down to credibility! Mexico has NONE lol, BUT Ward could provide shareholders with a project update or financing update even uplist updates which would install credibility and stability for share price!
Ward has already provided update on notes and share structure updates confirmed it. From here it is all about patience and Ward execution! Mexico needs Mirage as a partner and private capital investor!
MM CDEL puking out 500k position here .... should recover some after the last ~40k of that order get taken out
But that supply gets chomped @ ASK with constant buying
Always remember, tons of reason to sell BUT only ONE reason to buy !!!
It’s constructive trading action IMO
If the “greatest” news and announcement OR name dropping of MIRAGE ENERGY by AMLO is going to happen by early next week.... if if if
Then MM NITE did NOT get the memo! Continues to sell 50k blocks! Spreading them on the ASK line handing out candy to little kids!
First MM NITE 50k block chomped up @ $0.235 and next 50k block @ $0.24 showing....
Let’s see if MM OTCX @ $0.23 gets tested in the last 45min of trading today ;)
About 1.2mio shares traded first 1.5hrs today
And then suddenly MM NITE on BID and the ASK level 2 thinned out
Note finished for today? There was some aggressive 50k block selling into BID all morning
Mexican standoff done?
Time stamp 10:28:37
911 share buy
Time stamp 10:29:56
50k block sold
Mexican standoff continues
PR states
Notes were all paid / converted
That does NOT mean all shares from converted notes are sold or have hit market yet
It’s a VERY positive as it signals end of shares from notes is near but there are still note sellers out there IMO
Strong 500,000 share volume first 30min of trading
Easy to see some leftover notes getting liquidated and trading positions that speculated on news sept 1st getting paired back
But on the buying side this supply is soaked up strongly! MM OTCX spotted on BID too ;)
Buying in these times/prices might not get the wife excited....
But selling in the future @$1s will excite her a LOT!
“Mexican standoff” lol
Never underestimate the underdog ;)
Big reversal possible today with a low of day set at trading start
911 share buyer vs. MM NITE 50k seller today, place your bets ;)
Agree, MM NITE certainly has some share supply to sell and uses 25k or 50k Blocks. Has shown up last couple sessions and prob has more to sell.
The right PR would clean MM NITE out in massive ASK chomps within minutes
Time stamp 14:45:47
MM NITE another 25k block just got chomp chomp @ $0.27