Magellan Energy, Ltd. (MGLG)

[StockWatcher]

This stock hit my scanners and I started doing some research. I remember this stock from 2009. And I made some money off of it because I live in TN where the Company was doing the drilling and I went out to the sites to verify that the Company was actually there and drilling and they were. Not sure of what happened to the company but in my research today looks like someone has taken the company over.

Apparently there were billions of shares sold into the market, but the MMs were forced by an order from the SEC to Finra via the State of Delaware to remove the illicit shares. So from what I can tell the Share Structure is back to the original share structure before the debacle, so looks like 900M A/S with about 600M Float.

I looked back at all the trades this year and someone started seriously accumulating in February of this year and amped up their buying in July and August. There have been more shares purchased than ever before in the last two months.

So whoever took over the company is the buyer or people in the know are buying is my best guess.

I found that a Market Maker Gendarme acquired 500M shares not registered through the Russian Group and they sold them into the Market in July and August of 2009 and made $355,000 off of them. Those are the shares that they were forced to buy back by the Courts. The SEC ordered that most of the money went to the Company. I think part of it went to the SEC for fees and fines.

But Gendarme had acquired shares of 12 different companies in the span of 2 years, 2009 to 2010 and sold 15 billion shares into the market tanking all of those stocks. With MGLG they just dumped them into the market all at once which was what killed MGLG and caused the SEC to get involved. The SEC sucks in my opinion because they halt a stock which punishes the Company and creates massive losses for the shareholders. How backwards is that. Seems more like to me that the SEC Naked Shorts the crap out of stocks then halts them, fabricates these huge outrageous lies then keeps the money. Dark Pools, just dark Pools.

Well good luck if your trading MGLG, I made money once before why not 11 years later, LOL. So I jumped on board today. I got the shares quick which means the MMs have MGLG coded into their systems. I find that very interesting since most stocks on the grey market usually takes a couple to a few minutes to fill trades.

Lets see where this goes. If MGLG break above .0035, then it will go to a penny, .0099 to be exact. If it breaks the .0099, then you are heading for .0127. If it breaks that you are looking at .023. Personally I will be ecstatic and thrilled if it gets to .003.

Good Luck