MNET followers:
This is a lengthy post, but please take a moment to consider its contents.
Over the past several days we have discovered much, and have seen increasing numbers coming here to take a position in MNET. Very exciting.
Yes, all of us here know that the Attards have serious plans for the shell, whatever they may be. Fundamentally, we are in very good shape here, without question.
Now, on to our next great fact about this issue;
THE TECHNICALS
Yes folks, now we have the technicals too.
It appears some are learning about how to put shares on the ask instead of banging and fading the bid. That is very encouraging, and it will prove out to be a huge moneymaker if we stick to the thoughtful trading here on MNET.
My Overview;
Possibly, some doublers/triples sold part yest, and maybe, HILL was selling for someone that had some shares from years ago, saw the sudden value in his/her account and decided to sell them as they are not aware of this not yet public current information we are privy to concerning MNET.
As many of you know, at the end of the day, HILL moved its ask to .17, which is highly indicative of an acceptable and highly profitable selling price for someone who has taken a position anytime the first couple sessions.
USBB moved to .10 ask before the open, NITE sat at .10 ask all day, interestingly, despite HILL's apparent inventory, their high bid remained in the 2nd tier @.07.
Nite led the way on the high bid all day, and did not attract a single seller, not one.
Unreal, but true.
NITE, by its large market presence, is the MM that is going to execute 80+ % of the trades here on MNET, thus far, NITE has moved off the ask with relative ease and has been the strongest bidder.
I think this issue can be a good learning experience for our fellow shareholders that have been beaten down and crushed in the issues they are accustomed to trading, the ones that have hundreds of millions or billions of shares.
You know, the ones where they (and myself on more than one occasion, lol) must sleep with one eye open, and don't want to hold over the weekend for fear of some terrible rumor or unpleasant news account.
On this one, as we have seen, and will continue to see in the coming weeks, the combination of the low float and the credible owners will have people buying more, selling less, and putting their shares on the ask if indeed they do wish to shed a few. Now folks, you just don't find that in the Pinks.
Not discounting the action of the previous 4 sessions, yesterdays action, Friday, is a strong indicator of what type of investor we are attracting here, I just have not seen many flippers coming in here yet, but I believe it will be possible to start attracting some starting with Monday's session.
I believe we about to experience some sustained gaps and runs, but, not without the attendant volatility. One must have thoughtful plans for this one, gaps are going to start taking out many asks that have been set for day execution.
If one analyzes the trading patterns over the last few days, it is obvious that it is under heavy accumulation and many are watching. For instance, after the huge gap up the first and second day, every fade in the bid, (the largest gap down was to .04) lasted only a few short minutes, and the issue recovered to its day high on 4-6 trades totalling less than 50-75 k. 50-74 k after being down 50%, that is unreal, thats $3-4 thousand dollars to wipe out a 50% drop in the price when averaging the share price during the "recovery". That borders on insult, but it is true and quite revealing.
Over 50% of the shares purchased this week,(40% of the entire float and over 50% of the consolidated trading volume for the subject period) have been purchased in the .07-.09 range. Mostly .08's/.09's if you really break it down.
If one looks at the time and sales, these are small trades and it is obvious people are starting to take starter positions and build on that, these holders are more likely to hold for longer periods, as their MNET holdings do not represent a large percentage of their portfolio.
These facts and others make for a very strong base folks, from which to make gains.
As I mentioned earlier, I believe that we are going to see some traders come in starting Monday. Relatively, the board chatter has been weak and spotty. This is good, the base has not been built on spamming and mindless pumping. Folks have visited the board, read its contents, seen who is involved, and bought a few. Its that simple. The board has 39 boardmarks this morning, very strong for a stock that has only 1.5 million shares to go around and is selling at .10, meaning the entire float is valued at a paltry $150,000.
In a post yesterday, I predicted that MNET was going to be the talk of the boards on Monday. The possibility of this is good from a technical standpoint and what is likely to occur.
Here is why;
Many traders are reluctant to enter this one unless it holds and breaks .10. They require conformation, they will get said confirmation on Monday, no doubt.
In the last half hour of trading Friday, the relative strength indicator made a big move to the upside near the dearly beloved 70% line. Very positive.
The on balance volume indicator would make Joe Granville wet his pants. Enough said.
The accumulation distrubution indicator shows a net accumulation of between 650-750 k, indeed, right where those .08's/.09's are, discussed earlier in the post. Bullish.
Of course, the MACD is positive during Fridays session, after being "weak" Wednesday and Thursday due to the "downticks" and some churning during those days.
We have only have a few shareholders here relatively, I am throwing some caution in the wind here to encourage holders to make thoughtful decisions as to how they will execute any sell orders.
One must be mindful of the fact that we have not had any relatively large buyers appear here, the largest single trade size has been 50,000. The next, 33,000. Both those trades have occured in the upper end of the trading range. By a large statistical percentage most of the trades have been in the 5-10 k range.
My guess would be that 20 or less board members here, own way over 50% of the float.
So far, with the first and second day as an exception, there has not been any intensive buy order flow to disrupt the ask.
This will all change starting on Monday, when .10 is breached. The traders will arrive along with all the rest that have disccovered MNET over the weekend and have seen what is going on. This will continue all next week and beyond. The bid will firm and it may be theoretically possible to trade this one a bit. This will create volume. The only thing in question as to this point, is whether there will be considerable ask fade. I just don't know if there are enough shares available to make a intraday trade worthwile. We shall see what the traders decide on Monday.
If the traders believe they can get enough shares to make it financially worthwhile to them, coupled with the fact that people wishing to take a traditional trading position want in as well, this could turn into a tremendous momo play imo, if the volume appears and the bid stays firm and the spread between bid and ask is not prohibitive, it will happen without question.
That is why you need to ponder this weekend as to where you want your shares sold if you decide to let a few go. Stick to putting them on the ask, you will be amazed how much difference that makes as to how strong the issue trades to the upside, how much stronger support lines are established, and how firm the bid will be. Try it, you will like it.
Take advantage of the coming volatility, don't let it use you. If you put shares on the ask, put them in at varied price levels, you will have much better gains.
It is my sincere belief that this issue is going to trade at .25 or more prior to the Attards make anything public.
If the Attards were to make any move, even something as mudane as updating Pinksheets, or, something as simple as releasing a PR to announce that they have plans for the shell, all bets are off folks.
Have a good weekend all.
All the best to you and yours.
AI
