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Strong RELATIVE outperformance for MRGE vs ALL of OTC land today.
Earlier 2 or 3 50k blocks were actively bought/absorbed as well.
Higher volume than all yesterday’s volume already...
Nice to see ;)
12:00 pm barely 100k volume for the day.
MRGE stuck in trading range OR waiting mode.
On the daily view the MA (50) @ $0.327 has been a clear resistance and selling point since mid Dec 2020 when price broke below the MA (50).
On the weekly view the MA(40) @ $0.2804 shows a good support / buying point since beginning of 2021.
Shareholders continue to sell / reduce their holdings while others keep adding a typical dance until MRGE announces news to provide confirmed information to move price to a new valuation point.
Boring until it isn’t lol
https://stockcharts.com/freecharts/gallery.html?MRGE
Thank you for your continued shared DD
MM tend to match size on BID and ASK so once you start seeing bigger sizes it signals either big buyer or seller you see MM working to find a match.
Big Bid @ $0.24 sits and waits while the ASK hangs around $0.26 and $0.27 then big sell order drops way below last price and ask @ $0.25
Today was a day where MRGE lost shareholders IMO
It’s a capitulation for some and a new beginning for others or bigger bets going forward! I have been a buyer in the early $0.24s dip
Good luck
Excellent current status description
Contacted Brian @ Rubenstein this morning and got the same information about Ward’s delayed departure due to weather conditions.
No reason to doubt it, just turn on the weather channel. In addition family members in Texas confirm electricity blackouts and I certainly wouldn’t want our CEO trying to fly/travel to Mexico in these conditions IMO
News and updates will follow, timing unconfirmed! Has been the same official message for all this time JUST block out the noise/rumors and don’t try to front run or perfectly time this event.
Good luck ;)
Filled couple buy orders as well last week on the dip and today $0.27s $0.26s
Same set up as last couple days. Investors taking little profits here and there by BID sales and/or posted ASK offers.
Enough patient buying interest so far to absorb and keep MRGE in tight trading range.
It’s relative low volume so nothing until bigger volume either side shows up
https://stockcharts.com/freecharts/gallery.html?mrge
Impatient Shareholders taking small profits here & there and are probably investing in ALL the exciting OTC runners around MRGE.
No big changes.... so far IMO
Stage is set for a Friday scary sell off....
posters talking about buying 50k lots but implying they are way overextended so next they be unloading and voila 50k block pops up @ $0.30
What’s more, 2 week timeline until BUST and dream ending predictions ....
Last time “this playbook” pushed prices down into the low $0.20s and even below, ANYBODY that bought the dip was able to cash in on a quick 100% return on those shares!
Don’t be fooled
Not so fast, not even sure those were real t trades. Looked like into the close the ASK was lowered with an immediate BID paint then the ASK was bought up and those two buys (25k & 51,340) just got posted right after close.
There have been delays by all brokers for all trade confirmations, etc so not sure if this was a t trade or not?
excellent map/pipeline locator for Texas
https://gis.rrc.texas.gov/GISViewer/
zoom into AREA 4, then activate the "visibility" tab on the top left and in the menu click to activate "PIPELINE"
MM CSTI puts up a BID ~55k @$0.29 and when there is no sellers well let’s ALSO put up MM CSTI 100k @$0.31 ASK for sale.... ;)
Small bid whacks? MM cleaning of rest shares from selling blocks? Beginning of the month lots of bookkeeping and cleaning up OR ELSE conspiracy? Plenty of orders with xx7s and xx8s
Probably combo of investors continuously taking chips off and patient Bidders in no rush
Today’s favorite selling block size 64,500! MM CDEL most active providing plenty of supply
Brian Hyland?
Vice President
Rubenstein Public Relations
1301 Avenue of the Americas ,
New York ,
NY 10019
bhyland@rubensteinpr.com
The same block is still being liquidated from the original 240k to 120k yesterday now down to 66k @ $0.345
The same block “for sale” from yesterday 240k is advertised again by same MM CSTI and there 120k left @ $0.37 ASK
In addition MM GTSM fronted ran that offer with 100k block for sale, currently 44k left @ $0.36
No $0.40 predictions for today will happen without these offers cleared out IMO
But when you least expect it BOOM always possible ;)
OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER 2020 OPERATING RESULTS
Oxford, Michigan – Oxford Bank Corporation (“the Company”) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (“the Bank”), today announced profitable operating results for the fourth quarter and year ended December 31, 2020.
The Company’s quarterly consolidated earnings for the three months ended December 31, 2020, were $2,257,000, or $0.98 per weighted average share compared to $1,603,000, or $0.70 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $7,001,000 or $3.04 per weighted average share for the twelve months ended December 30, 2020 compared to $5,277,000 or $2.31 per weighted average share for the twelve months ended December 31, 2019.
Total Assets of the Company decreased from the prior quarter to $698.2 million as of December 31, 2020, as customers began receiving forgiveness payments from the SBA on their Paycheck Protection Program
(“PPP”) loans and the company paid down its Paycheck Protection Liquidity Facility with the Federal Reserve. This compared to $505.4 million as of December 31, 2019, representing a 38% increase yearover-year, owing to the Company’s participation in the SBA PPP program. The Company increased loans outstanding to $541 million at the end of December 2020 compared to $341 million a year earlier.
Deposit balances from customers are up 29% year-over-year and totaled $588 million as of December 31, 2020, compared to $456 million as of December 31, 2019. The increase in deposits was primarily the
result of the new customers the Bank gained as part of the PPP program in 2020.
The Company’s total stockholders’ equity increased to $54.9 million as of December 31, 2020, representing book value per share of $23.74, compared to total stockholders’ equity of $46.6 million, or
$20.37 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $53.3 million as of December 31, 2020, or 14.2% of risk weighted assets compared to $46.1 million, or 12.7% of risk
weighted assets as of December 31, 2019.
“In the fourth quarter, the forgiveness piece of the Paycheck Protection Program (“PPP”) loan portfolio accelerated compared to previous quarters” noted David Lamb, President and CEO. “During the fourth
quarter, the SBA forgave $35.7 million of the first round of PPP loans with the expectation that this will continue accelerating and largely conclude by YE 2021. We have also began participating in the 2021
round of PPP although we see significantly lower demand than the 2020 rounds. This appears to be the result of our customers having returned to a normalized level of activity, so they have limited or no need
for additional government assistance. Our long-term focus on diversification by industry has mitigated the impact because we are not significantly exposed to industries that have been materially damaged by the pandemic like sit down restaurants or hospitality”
Lamb continued “Net income in the fourth quarter benefitted from the loan forgiveness process which accelerates the amortization of the PPP fees. The PPP fees are included in interest income. The Bank also continues to provision to the ALLL because of the still high level of uncertainty, albeit at a lower level than earlier in the year.
Management will continue to review and analyze appropriate level of
reserves as asset quality metrics don’t justify levels today. Operating expenses continue to decline due to restructuring work over the past several years. as well as our team continues to work remotely to protect
our team and community. Our team is excited about the opportunities in 2021as there is more activity in non-PPP business lending. That being said, we fully realize the future challenges from margin compression and technology investments as well as continued economic uncertainty which could impact asset quality.”
Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Wixom, Owosso, and in downtown Oxford. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about
Oxford Bank and its complete line of financial services, please visit www.oxfordbank.com.
https://www.oxfordbank.com/about-us/oxford-bank-news.html
Jon,
I believe your critique of this company / CEO was NO NEWS or updates and the inevitable selling pressure.
So what changed your mind? You hear rumors/ news again? Thanks
Today’s special MM CSTI advertising 240kblock for sale all day and we got 15k nugget seller active SMH
Either way, price won’t move higher with continuous sell supply! News PR would easily chew through the sell supply here and MUCH higher IMO
Solera National Bancorp Announces 2020 Fourth Quarter and Year-End Financial Results
Company Release - 1/27/2021 9:00 AM ET
Earnings per share grows 62% year-over-year to $1.42 in 2020
LAKEWOOD, Colo., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Solera National Bancorp, Inc. (OTC:SLRK) (“Company”), the holding company for Solera National Bank (“Bank”), a business-focused bank located in the Denver metropolitan area, today reported financial results for the fourth quarter and twelve-months ended December 31, 2020.
Highlights for the quarter and twelve-months ended December 31, 2020 include:
- Pre-tax pre-provision income grew 91% year-over-year to $9.82 million for the twelve months ended December 31, 2020 compared to $5.13 million for the twelve months ended December 31, 2019.
- Net income increased 67%, or $2.37 million, year-over-year, ending 2020 at $5.93 million compared to $3.56 million for the year ended December 31, 2019.
- Cost of funds improved to 22 basis points for the fourth quarter; year-to-date costs of funds have improved over 50% from 2019 going from 72 basis points for the twelve-months ended December 31, 2019 to 32 basis points for the twelve-months ended December 31, 2020.
- Robust quarterly growth in traditional gross loans, which rose $32.78 million during the fourth quarter to $271.18 million, as of December 31, 2020.
- Noninterest-bearing deposits continued their steady ascent, growing $24.68 million during the fourth quarter to $235.17 million at December 31, 2020.
- As of December 31, 2020 criticized assets represented 4.5% of total assets, compared to 5.4% as of September 30, 2020 and 4.0% at December 31, 2019.
- The fourth quarter 2020 yielded an impressive efficiency ratio of 32.9%, an improvement from 39.7% for the third quarter of 2020 and remarkable progress from a year-ago – 50.6% for the fourth quarter of 2019.
- Return on average assets was 1.63% for the year ended 2020 compared to 1.42% for 2019.
- Similarly, return on average equity improved for the twelve months ended December 31, 2020 to 13.5% compared to 9.4% for the same period in 2019.
For the three-months ended December 31, 2020, the Company reported net income of $1.85 million, or $0.43 per share, compared to net income of $2.12 million or $0.51 per share, for the three-months ended September 30, 2020, and net income of $872,000, or $0.21 per share, for the three-months ended December 31, 2019. The fourth quarter 2020 results included $782,000, or $0.18 per share, in provision expense compared to $355,000, or $0.09 per share, for the linked-quarter and $378,000, or $0.09 per share, for the three-months ended December 31, 2019.
For the twelve-months ended December 31, 2020, the Company reported net income of $5.93 million, or $1.42 per share, compared to $3.56 million, or $0.87 per share, for the twelve-months ended December 31, 2019. The year-to-date 2020 results were hindered by $2.15 million, or $0.51 per share, in provision expense compared to $540,000, or $0.13 per share, for the twelve-months ended December 31, 2019. However, the year-to-date 2020 results were bolstered by $1.48 million, or $0.35 per share, in gains on the sale of investment securities compared to $278,000, or $0.07 per share, for the twelve-months ended December 31, 2019.
Martin P. May, President and CEO, commented: “2020 has been an unparalleled year. I am proud to announce the Company’s results to our shareholders, as our results clearly show how hard our team has worked this year despite the many challenges. We transitioned to remote working with only a few days’ notice and without any interruption in customer service. Then, we worked tirelessly to deliver emergency funding to over 660 small businesses through the Paycheck Protection Program (PPP) all while we continued to grow our core banking business. We continue to attract core banking relationships month after month and those relationships are bearing fruit in our noninterest-bearing deposit results. Noninterest-bearing deposits grew 53% in 2020 and are now well over $200 million.”
Operational Highlights
Net interest income after provision for loan and lease losses was $3.26 million for the quarter ended December 31, 2020 compared to $3.02 million for the quarter ended September 30, 2020 and $2.14 million for the quarter ended December 31, 2019. Net interest income after provision for loan and lease losses for the twelve-months ended December 31, 2020 of $11.02 million increased $2.28 million, or 26%, from the same prior year despite the $1.61 million increase in provision expense during this time. The increase in the provision for loan and lease losses during 2020 was primarily due to the growth in the loan portfolio, uncertainty in the market caused by COVID-19 and the downgrading of several credit relationships experiencing intense pressure from the government-mandated shut-downs.
Despite declining interest rates, loan growth has led to a $1.13 million, or 12%, increase in interest and fees on traditional loans for the twelve-months of 2020 compared to the same period in 2019. Additionally, interest income was aided by an influx of PPP loans during the second quarter that bolstered earnings $2.07 million during the twelve-months ended 2020. Further contributing to the growth in net interest income was the $473,000 decline in interest expense for the twelve months ended2020 compared to the same period in 2019 despite the $145.18 million increase in total deposits during that time.
Net interest margin fell to 3.74% for the twelve-months ended December 31, 2020, a 14 basis points decline from 3.88% for the twelve-months ended December 31, 2019. Chief Financial Officer, Melissa K. Larkin noted “Given that the Federal Reserve reduced interest rates 150 basis points early in 2020, the Bank’s 14 basis point decline in net interest margin year-over-year was relatively small. The Bank’s strong core deposit base enabled the Company to maintain a healthy net interest margin despite the declining yields on earning assets. Additionally, the Bank’s net interest margin began to increase again in fourth quarter 2020, primarily due to higher yields on PPP loans as those loans are being forgiven and the unearned fees are being realized in interest income.” For the fourth quarter 2020, net interest margin was 4.04%, up 49 basis points from 3.55% for the third quarter 2020.
Total noninterest income in fourth quarter 2020 was $650,000 compared to $1.09 million and $268,000 in third quarter 2020 and fourth quarter 2019, respectively. The decrease in fourth quarter 2020 was primarily due to gains on the sale of investment securities totaling $316,000 compared to $866,000 for third quarter 2020 and $113,000 for fourth quarter 2019. Total noninterest income for the twelve-months ended December 31, 2020 jumped 250% to $2.43 million compared to $694,000 for the twelve-months ended December 31, 2019. Customer service and other fees improved 62% year-over-year, from $261,000 for the twelve-months ended December 31, 2019 to $422,000 for the year-to-date 2020. Additionally, other income, consisting primarily of rental income, increased $293,000 year-over-year.
Total noninterest expense in fourth quarter 2020 was $1.41 million, compared with $1.43 million for third quarter 2020. For the twelve-months ended December 31, 2020, total noninterest expense was $5.78 million compared with $4.85 million for the same prior-year period. Compared to prior year, employee compensation and benefits increased $473,000 due to additional staffing to support franchise growth and occupancy expenses increased $197,000 due to the office building purchased in fourth quarter 2019. Other general and administrative expenses increased $277,000 as a result of higher data processing expenses due to the continued surge in new customer accounts. However, as a percentage of average assets, noninterest expenses have remained well managed throughout the Bank’s rapid growth, at 1.91% for the twelve-months ended December 31, 2020 compared to 1.93% for the twelve-months ended December 31, 2019. [Note: the increase in total assets due to the PPP loans has been removed for purposes of this calculation.]
The Company’s fourth quarter 2020 efficiency ratio (noninterest expense divided by the sum of net interest income and noninterest income) reached an impressive 32.94%. The efficiency ratio for the twelve-months ended December 31, 2020 was 41.16% compared to 49.98% for the twelve-months ended December 31, 2019.
Income tax expense for the twelve months of 2020 remained essentially unchanged at 22.7% in 2020 from 22.4% in 2019.
Balance Sheet Review and Asset Quality Strength
Total assets of $436.04 million at December 31, 2020 increased from $404.68 million at September 30, 2020 and $282.11 million at December 31, 2019. The increase compared to the linked-quarter was primarily due to the $32.78 million growth in the Bank’s traditional loan portfolio, a $10.65 million growth in the available-for-sale investment portfolio, and a $4.87 million increase in premises and equipment for a corporate jet, partially offset by PPP loans granted forgiveness ($19.67 million). Total asset growth from December 31, 2019 to December 31, 2020 consisted of PPP loans ($73.71 million), a 26% expansion in traditional loans ($55.73 million) and additions to the investment portfolio ($23.78 million).
Net traditional loans, after allowance for loan and lease losses, were $265.50 million at December 31, 2020 compared to $233.51 million at September 30, 2020 and $212.02 million at December 31, 2019. Net loan growth of $31.99 million during the fourth quarter of 2020 was driven by commercial loan originations of $54.54 million partly offset by payoffs, pay downs and an increase in the allowance for loan losses totaling $22.55 million. For the twelve-months ended December 31, 2020, the $53.48 million expansion in net traditional loans consisted primarily of commercial loan originations totaling $99.80 million, a net decrease in student loans of $1.53 million and payoffs, pay downs and an increase in the allowance for loan losses totaling $44.79 million. Additionally, the Company funded 665 PPP loans during 2020 totaling $93.72 million. These loans are fully guaranteed by the Small Business Administration and were issued to provide emergency relief to small businesses while businesses were closed due to the government’s stay-at-home order.
The allowance for loan and lease losses at December 31, 2020 was $4.90 million, or 1.81% of gross traditional loans, compared to $4.12 million, or 1.73% at September 30, 2020, and $2.77 million, or 1.29% of gross loans at December 31, 2019. The 52 basis point increase in the allowance for loan and lease losses year-over-year was largely due to increased uncertainty surrounding loans that were granted payment deferrals at the height of the pandemic, in conjunction with an increase in criticized loans and overall growth in the loan portfolio. Total criticized assets of $19.41 million at December 31, 2020 decreased compared to the linked-quarter, down $2.37 million from $21.77 million at September 30, 2020 and increased $8.04 million from $11.37 million at December 31, 2019. Despite the increase, criticized assets to total assets remain manageable at 4.45% of total assets as of December 31, 2020.
Total investment securities available-for-sale increased $10.65 million at December 31, 2020 compared to $42.23 million at September 30, 2020 and $29.09 million at December 31, 2019. Held-to-maturity investment securities were essentially unchanged from the linked quarter at $10.42 million. The Company realized gains from the sales of securities of $316,000 during the three-months ended December 31, 2020, bringing the total gains on sales of securities for 2020 to $1.48 million.
Total deposits at December 31, 2020 were $382.15 million compared to $339.69 million at September 30, 2020 and $236.97 million at December 31, 2019. Noninterest-bearing demand deposits of $235.17 million, which represent 62% of total deposits, at December 31, 2020 increased $24.68 million, or 12%, versus the linked-quarter, and increased $81.07 million from $154.11 million at December 31, 2019.
Commercial and residential loans past due have remained inconsequential for all periods presented, with the only notable past dues coming from the student loan participation pool. Approximately 5% of the Bank’s traditional loan portfolio remained on payment deferral as of December 31, 2020, down from the 29% originally granted payment deferral. These concessions were granted to provide some relief to borrowers during the COVID-19 lock-down. $3.50 million of the student loan participation pool were 30 days+ past due at December 31, 2020. This was up from $2.91 million 30 days+ past due at September 30, 2020. Of the $3.50 million past due, $2.11 million were 90 days+ past due as of December 31, 2020. The student loans are backed by an approximately 97.5% guarantee of the U.S. Treasury under the Higher Education Act of 1965. This guarantee includes all principal and interest so net credit losses in this portfolio are expected to be minimal. Additionally, the Bank purchased the pool at a discount resulting in the Bank’s maximum exposure to credit losses slightly less than 1%.
Capital Strength
The Company’s capital ratios continue to be well in excess of the highest required regulatory benchmark levels. The Bank elected to adopt the community bank leverage ratio (CBLR) as allowed by federal banking agencies for qualified institutions in first quarter 2020. The CBLR provides for a simple measure of capital adequacy and is calculated by taking Tier 1 capital divided by average total assets for the quarter. Solera calculates the CBLR using Bank-only financial statements. As of December 31, 2020, the Bank’s CBLR was 11.3%, well above the required 9% minimum to qualify for using this simplified method. The growth in total assets associated with the PPP loans originated during the second quarter 2020 was the primary driver of the 2.9% decline in the Bank’s CBLR year-over-year (down from 14.2% at December 31, 2019). Excluding the PPP loans, the Bank’s fourth quarter 2020 CBLR would have remained 14.2%. Chairman Michael Quagliano commented, “We were aiming to pay our first dividend in the fourth quarter of 2020, but decided it prudent to maintain all of our capital until the uncertainty of the pandemic is behind us. Once businesses are allowed to be fully opened without government intervention and our asset quality remains stable for consecutive quarters, we will pay a dividend. We are hopeful that will occur during the fourth quarter of 2021.”
Tangible book value per share, including accumulated other comprehensive income, was $11.23 at December 31, 2020 compared to $10.75 at September 30, 2020, and $9.77 at December 31, 2019. Total stockholders' equity was $48.03 million at December 31, 2020 compared to $45.98 million at September 30, 2020 and $40.53 million at December 31, 2019. The $2.05 million increase in total equity is primarily due to retained earnings and secondarily due to the exercise of vested stock-options.
The fair value of the Bank's available-for-sale investment portfolio has improved from a year ago due to a decline in longer-term interest rates. As of December 31, 2020, the available-for-sale investment portfolio had a gain of $751,000 compared to gains of $549,000 and $118,000 at September 30, 2020 and December 31, 2019, respectively.
Finally, Mr. Quagliano stated, “I’m excited to announce that we have made two stellar additions to our Board of Directors, Jordan Wright and Kreighton Reed. We believe each of their talents will provide valuable support to the strategic initiatives of Solera National Bank.”
Mr. Wright currently serves as Co-founder and CEO at Atomic Financial (https://atomic.financial/). Prior to starting Atomic Financial, Mr. Wright was the Co-founder and CEO at Unbill, a company he sold to online banking software provider Q2 (QTWO). Prior to starting Unbill, Mr. Wright helped start a cybersecurity company, NextPage, that was acquired by Proofpoint (PFPT) in December of 2011. Mr. Wright received a Bachelor’s Degree in Statistics from Brigham Young University. Mr. Wright loves the financial technology space and sits on several other boards / advisory boards of FinTech companies.
Mr. Reed is currently Executive Vice President of Business Development for Solera National Bank. Mr. Reed joined the Bank in May 2016 as Vice President, Branch Manager. In June 2018, Mr. Reed was promoted to Senior Vice President, as head of the retirement division. In April 2019, Mr. Reed’s role expanded to his current position where he is responsible for innovation. He is tasked with finding and developing strategic partnerships that will lead to long-term value-drivers for the Bank including new products, services, and technologies. Prior to joining the bank, Mr. Reed worked for Wells Fargo Bank for 9 years in various management positions in the retail banking sector. At Wells Fargo, Mr. Reed gained experience in diverse geographic markets including Alaska, Colorado, Nevada, Tennessee, Utah, and Wisconsin. He completed his B.A. in Latin American Studies at Brigham Young University. Mr. Reed has been active in volunteering with the Boy Scouts of America, and most recently was a Cubmaster in the Denver Area.
About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving the needs of emerging businesses and real estate investors. At the core of Solera National Bank is welcoming, attentive and respectful customer service, a focus on supporting a diverse economy, and a passion to serve our community through service, education and volunteerism. For more information, please visit http://www.SoleraBank.com.
This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly-owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.
Source: Solera National Bank
Contact: Martin P. May, President & CEO (303) 937-6422
-or-
Melissa K. Larkin, EVP CFO/COO (303) 937-6423
- tables deleted --
https://ir.solerabankonline.com/news-and-market-data/press-releases/news-details/2021/Solera-National-Bancorp-Announces-2020-Fourth-Quarter-and-Year-End-Financial-Results/default.aspx
“Fake” Wall absorbed 90k + in buying already lol
Don’t fall for this “fake” 240k+ ASK that keeps popping up
maybe MM CSTI really wants to sell? not how you sell SMH
BOOM !
New all time high $12.00
2k block buy @$12.00 posted 11:55 am
20k nugget BID whacked into the close here SMH
Probably related to the big opening BUY order of 75k @ $0.40.
That order was placed before market open and before any sell orders by other MMs were set/established
There is a buyer supporting $0.36 - $0.37 area with consistent 25k-50k BIDS and additional size ASK buys. Somebody making multiple $10,000 (25k @$0.37 eg) BUYS here throughout the day KNOWS something OR trust his DD and gut feeling.
About 550k volume or above $200,000 is NOT pocket change ;)
Always feel free to ask! If I have an answer I’ll share!
Trust me plenty new to learn EVERY DAY!
Well unfortunately I don’t have a magic crystal ball and don’t know what’s on the sellers mind.
But there are patterns that give indications and there are support & resistance levels that active traders use to determine buy & sell points.
There is one 60k block that’s been posted for sale by MM INTL yesterday and today @$0.40 and just moved down some to $0.38, so that block will most likely be absorbed today either at a lower BID or maybe a Buyer steps up?
The ma (50) sits currently @ $0.405 and this mornings open trade of 75k @ $0.40 with a quick flurry of sellers establishing orders from $0.38-$0.39 indicates resistance for now and a technical trader would try to sell some shares around these levels and try to re-buy lower at round numbers $0.35 or $0.30 or even looking at ma (200) @ $0.231 for extreme low buy point.
The technical trader would ALSO BUY back on a breakout above $0.40 - $0.405 resistance zone.
Now longtime buy & hold investors are sitting back here and sipping probably margaritas somewhere (since it’s always 5oclock somewhere) and probably forgot to look at the daily share price of MRGE for the last 2 or 3 days! They check in weekly or when news hits ;)
My bet still on breakout to upside!
All day long 20k nugget seller, right into the BID
Wonder where the seller is deploying his cash
Thank you
NGI (Natural Gas Intel) maps
Does anybody know the "as of" date of the 2020 maps and when 2021 maps come to market?
The NGI America map
https://www.naturalgasintel.com/ngis-2020-north-american-map-of-north-american-pipelines-lng-facilities-shale-plays/
hold your cursor over the map and it magnifies to readable size, it identifies our Concho - Progresso line as "proposed pipelines"
also check for the import/export points (#18)
Same plays out for the NGI Mexico map
https://www.naturalgasintel.com/ngis-2020-mexico-pipeline-infrastructure-lng-facilities-shale-plays/
Our Progreso Line is listed as "pipeline projects"
Yesterday’s buying strength also coincided with the 6th Mexico Infrastructure Projects Forum Jan 19-21, 2021
www.mexicoinfrastructure.com
Why? Because suddenly little bid whacks coming in and MM OTCX posts 80k?
Anyway right call so far
10 am and POOF
MM OTCX disappears and only hurdle left about 94k CDEL order @ $0.40
Could push higher here IMO
what sparked todays STRONG buying
was it yesterdays conference by AMLO
https://www.facebook.com/pages/category/Show/Programa-Istmo-1276683332492010/
there were a multitude of videos showing progress on all fronts around 20min mark you can spot some pipelines under the highway/bridge :)
Did anybody review these?
On a different note, what does this board DD have for who/what is "J&E administration Integral, S. de. L. de C.V."?
https://criterionrsch.com/results/companies?entity=5f48f70aabadaf482bfc6f99
Mirage signed LOI for 200 MMcf/day last year
https://www.globenewswire.com/news-release/2020/08/27/2085009/0/en/Mirage-Energy-Signs-Letter-of-Intent-to-Provide-200-MMcf-Day-of-Natural-Gas-to-J-E-Administration-Integral-S-De-L-De-C-V-in-Mexico.html
maybe some old plans are back on the table for "Central America pipeline project"
https://www.naturalgasintel.com/billion-dollar-central-america-pipeline-project-once-again-on-the-table-in-mexico/
https://elorbe.com/portada/2018/06/10/afinan-empresa-que-tendra-a-cargo-obra-del-gasoducto-salina-cruz-tapachula-guatemala.html
It would start from with the The Salina Cruz-Tapachula pipeline
https://www.gem.wiki/Salina_Cruz-Tapachula_Gas_Pipeline
digging into Enagas (spanish company)
https://www.enagas.es/WEBCORP-static/InformeAnual2016/sites/default/files/good_new_energy_eng.pdf
there are already projects/pipelines they have successfully brought into operation with the Morelos pipeline
https://www.google.com/search?q=morelos+pipeline&sxsrf=ALeKk01OuQ7ChkXS0s7p_uFG7vG3XMc-UQ:1611083568960&source=lnms&tbm=isch&sa=X&ved=2ahUKEwin7NL-2ajuAhUFo1kKHREAAdwQ_AUoA3oECAsQBQ&biw=1920&bih=969#imgrc=B8w0UHUJcSY2sM
Opportunities are ENDLESS!
Very strong excellent BUYING volume! Multiple MM’s buying in big lot sizes.
Expected first buying wave stopped above $0.40 as MANY traders would sell a “quick double” from last weeks dip UNDER $0.20
Beautiful intraday retrace with another buying volume surge! Would have liked to see a NEW HOD but still excellent day so far!
t/a looks like a successful test of ma (200) @$ 0.227 with a STRONG bounce! Current resistance ma (50) @$0.401.
A close ABOVE $0.395 breaks the trend of lower highs since Dec $0.75 high and would confirm trend reversal IMO
https://stockcharts.com/freecharts/gallery.html?mrge
I sold trading shares from last week for close to 100% gains BUT not touching any longterm positions! Feels like a STRONG outbreak to new highs coming
Respectfully disagree,
Brian has been very responsive and provided answers to specific questions in a very timely & professional matter.
Rubenstein can’t give a timeline as Michael Ward our CRO can’t give a timeline, but it sounded positive/constructive & NOT months away ;)
What’s another handful of taco Tuesday’s