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Lately simply transition to bottom feeder accumulation. Most size gobbled up @ ask side in good block sizes. MM OTCX could be used by anybody but pretty orderly patient sellers so probably not a note with orders they need to sell x per day in order to sell block size in given time frame.
Not the time to sell here especially not 100k market sells like yesterday lol
Patient accumulation with stronger hands taking over IMO
MM OTCX has been buyer last couple trading sessions especially Friday.
MM OTCX showed 300,000 share BID @ $0.16 past few days and today 200,000 share BID @$0.18.
On a low volume day might try to box the price and see if they can get somebody to sell and fill MM OTCX without having to raise BID price….
Think of it as MM OTCX wants to buy more shares BEFORE the price moves UP so they park some resistance/brakes on the ASK side
Closing
MM OTCX takes its BUYING BID @ $0.1910 and rolls it into buying up all supply @ $0.20 ASK....
What a change of heart for MM OTCX LOL
Ha ha ha, sure attracted MM ASCM quick BUT MM OTCX gone on the ask side so notes possible done or today’s inventory gone ....
Time stamp 12:44:04
T Trade print 489,462 @ $0.1680
Time stamp 12:20
100k clean ask hit @ $0.18
Time stamp 12:13
263,888 clean sweep buyer @ ASK @ $0.1750
6/3
AH t trade print 250,000 @ $0.1940
6/4
AH t trade print 446,311 @ $0.1980
6/7
11:51:42 t trade print 296,738
AH t trade print 450,415 @ $0.1770
6/8
Day pre arranged block 423,676 @ $0.1823
10:44:17 t trade print 393,676 @ $0.1750
AH t trade print 97,713 @ $0.1750
6/9
13:23:58 t trade print 420,162 @ $0.17
AH t trade print 176,076 @ $0.17 (thanks penny)
6/10
15:53:05 t trade print 320,448 @ $0.1670
AH t trade print 60,687 @ $0.1650
Above Total 3,335,902
https://m.facebook.com/pg/Programa-Istmo-1276683332492010/posts/?__nodl&ref=page_internal&mt_nav=0
Another live event now, signing of docs gobierno del estado de Veracruz
Yes, my mistake. Date of filing = first t trade. Correct it with today’s update
6/4
AH t trade print 250,000 @ $0.1940
6/4
AH t trade print 446,311 @ $0.1980
6/7
11:51:42 t trade print 296,738
AH t trade print 450,415 @ $0.1770
6/8
Day pre arranged block 423,676 @ $0.1823
10:44:17 t trade print 393,676 @ $0.1750
AH t trade print 97,713 @ $0.1750
6/9
13:23:58 t trade print 420,162 @ $0.17
AH t Trade print 176,076 @ $0.17 (thanks penny)
Above Total 2,954,767
Stink,
Nice buy! Glad you didn’t decide to chase last week trying to push price up to $0.21 but instead bought 20% cheaper, smart
Thank you :)
Anybody catch yesterday’s AH t trade size? Should be around 160-170k but I missed it, thanks
Time stamp 13:23:58
Block trade 420,162 @ $0.17
6/4
AH t trade print 250,000 @ $0.1940
6/4
AH t trade print 446,311 @ $0.1980
6/7
11:51:42 t trade print 296,738
AH t trade print 450,415 @ $0.1770
6/8
Day pre arranged block 423,676 @ $0.1823
10:44:17 t trade print 393,676 @ $0.1750
AH t trade print 97,713 @ $0.1750
Above Total 2,358,529
Keep in mind these are the “obvious” prints we can catch, I’m sure there are others smaller ones during the trading day AND the high volume days (incl the low print to trigger low avg price for conversion) those are part of the total note sells too. Simply sold short and covered with the shares issued, a safe bet once timing of 10q filing is/was close.
T Trade 97,713 @ $0.1750
Sure the blocks posted earlier today were part of today’s note sellers inventory
Time stamp 10:44:17
Block 393,676 posted @ $0.1750 (only off 30k in size from prior comment)
Certainly part of note seller and might be a mid day t trade print IMO
Different playbook today, looks like pre arranged buy/sell
If so the exchange @ $0.1823 might represent today’s note sellers inventory, it’s early yet but size fits 423,676 shares
T trades
Background, a small public company needs money to operate so they raise cash by borrowing money from lender xyz under specific terms like interest payments, duration and conversion details etc.
the company does not pay lender xyz back in cash but instead according to term sheet converts the note payable into shares. Lender xyz now got paid back BUT they are not stock investors, their business is in money lending so their objective is to sell the shares they got and have cash again.
This cash they then once again are able to lend to companies in need and the cycle repeats.
Remember there is always the outstanding shares and the float of a company at every beginning of the day and trading occurs between buyers and sellers of stock. The sellers had to buy the stock prior before being able to sell the stock (not talking short sales here) so that the float stays the same.
Now enters the note holders XYZ who got shares issued from the company (for debt repayment) and these new shares have to enter the market and float of the company. Those are the numbers that change in outstanding, restricted, unrestricted etc that otcmarkets reports from the transfer agent.
Example: The note holder lend the company $10,000 @ 10% interest for one year and conversion price was set at a fixed price of $0.10 (MRGE conversion price is a floating calculation based on % of the lowest price in a certain period)
Note holder receives 100,000 shares for his principal repayment plus 10,000 shares representing $1,000 in interest payments.
Those companies don’t sit in front of their computers and try to sell those 110,000 shares, they “give/hire” a market maker mostly MM OTCX to sell this share block for them.
MM OTCX has this block of shares and sells them BUT since these are NEW issues shares they have to increase the float and not just simply buy/sell of exiting shares, so in addition to the actual sells MM OTCX does during the day they post the accumulated t trade for the complete day representing the shares MM OTCX sold on behalf of the client lender xyz at avg price (minus a little fee for MM OTCX for the work) and this additional print in after hours represents what was added (in case of dilution) to the float.
Bottom line: MRGE needs funding and these notes payables have to be paid back. It’s how MRGE stays alive!
Use these times of a forced big seller to accumulate shares at discounted prices! As penny described these not sellers sold shares in the $0.04-$0.06 area because they NEED to sell and raise cash. They get discounted shares and already made their money they do NOT hold shares and add market risk!
These bigger blocks do NOT represent somebody liquidating or somebody knows something bad! The opposite, bigger blocks represent here strong buyers buying from forced note sellers.
Hope this helps
T Trade 450,415 @ $0.1770
Timing fits for the 500k+ panic dump.
Not sure if this AMLO tweet should be regarded as a general comment about Mexico energy policy or more specific in relations to oil markets only....
Time stamp 11:51:42
Block trade about mid BID/ASK spread 296,738 shares definitely part of today’s t trade ;)
In addition to earlier prints around $0.19 and trades @ $0.198 where MM OTCX still sits at moment.
Filled $0.17 & $0.18 on this dip
Volume 11.30am above 1.1 million shares
T Trade 446,311 @ $0.1980
Strong support today marks today settlement price HIGHER than yesterday’s price of $0.1940
T Trade 250k @ $0.1940
Probably not the happiest or most glorious day in MRGE shareholders saga but at this rate note selling be over next week ;)
New images from FB isthmus corridor page
https://m.facebook.com/puerto.coatzacoalcos/videos/623643111942075/?refsrc=https%3A%2F%2Fm.facebook.com%2Fpg%2FPrograma-Istmo-1276683332492010%2Fposts%2F%3Fref%3Dpage_internal&_rdr
Too bad Mr Ward didn’t secure those beautiful pipes for our projects and instead they are exported to Canada ;(
But it could turn out to be a good lead that TenarisTamsa be producing our pipeline needs as well, product of Mexico
Www.tenaristamsa.com
Prior to any election it’s all politics and trying to influence voters. There is always another side just as Macod already posted. Ultimately for MRGE it is all about the projects and infrastructure needs of Mexico & their people!
Enough rumors / opinions going around MRGE and our CEO. Let’s add one more “Calm waters, maybe needed for AMLO’s BIG decisions, no politics or public opinions to worry about and simply add private company help / funds to govt mega projects!”
Either way, patience will pay
Smells like MM CFGN who absorbed $0.1510 volume was able with a sudden flip to some buying pressure to catch MM CDEL short iMO
Now another couple whacks at “fake” MM CDEL ask supply and a strong close.... good chance for another go around tomorrow!
News would make this a rocket! Back above moving average support above $0.32s @ open and straight to $0.50s
Correct, just checked as well and MM CDEL 150k sell @ $0.1729 dissappears and my BUY 2500 @ ASK got filled $0.173
Only to have next MM NITE appear with 240k sale block $0.172 and MM CDEL back @ 0.173 150k.
MM games and trying to shake tree here today IMO
MM CFGN absorbed 400k+ shares @ BID $0.1510, added more there too
It’s thinning on the ASK side, little buying pressure and we pinch hard today and chance bottomed $0.15, actually the little print @ $0.1402 will show low. IMO
Added $0.16s, $0.17s and an earlier fill on gtc order $0.20
Just for the fun of it! In all seriousness it’s ugly no other words but so is crypto and all of OTC markets today lol
Even better, instead of strong hold you have about 1.4 million share buyers that are adding! ;)
With no immediate catalyst on the horizon traders/investors are using MRGE as a piggy bank to fund more exciting opportunities IMO
They will return
Correct, 750k volume and most of it bought @ASK.
Sure looks like supply continues coming in BUT some bigger buyers stepped up and bought aggressive prob jackpot lol
Careful the preMarket trades and gap up for MRGE are mostly distribution days so don’t buy the excitement, wait for later in trading session pullbacks to add.
MRGE needs to re capture the MA (200) @ $0.325 to turn technical picture to bullish BUT agree today looks solid so far
This 42,230 share block for sale @ ASK by MM CDEL has been there for the last several trading days. Any buying pressure it vanishes only to appear at higher prices and to drift lower again @ ASK. Clearly got to eat through that game/sell pressure before shift in trend
Actually MM CDEL and MM ETRD were bid whacking here.
There was simply NO follow buying through buying volume on the gap up this morning.