Right now, based on the balance sheet and other stuff I provided in a previous post, I believe this to be an excellent play to enter for an good early play for 2010. Of the Q's to get into at a bargain, I'd put it in a Top 10 at this point. I was made aware of its potential by some of my CEMJQ brothers...
This is an excellent read for those looking to enter. It pretty much sums up this play and it's potential. After reading it, I bought pre-bankruptcy under .04 pps. So it is highly recommended.
Just looking at the chart alone, it has the potential to reach at least .30 pps after the gap is filled...We are trading right under .07 pps right now on some consolidation and we might be filling that gap soon, so sub .10 pricing might be the time to get in, imo...
MESAQ is dealing with some legacy issues and are trying to shed some of these thru bk process. They are not insolvent and are not winding down. They are trying to do this without DIP Financing - very big imo and the fact that the bondholders have already been issued shares of commons stock is a big big big plus in my opinion...
For these reasons and the reasons I stated previously, I believe this could be a really good play this year. Not saying it is another CEMJQ play, but it has the potential to be a very rewarding play for those who get in under .10 pps as news develops...the entire os has already turned over before Q attachment too - this capitulation says to me that the bottom is already in...
Fill the gap to .12 first, then onward and upward...I like what I see on the two charts below...
60 min chart
She is consolidating nicely here...bands coming together and starting to pinch...nice flag pattern here in an uptrend - could be breaking out to upside soon - if pattern holds true...I like what I see from a chart perspective
Daily chart
She had a gap up recently and a bearish engulfing candle to fill the chart, and now consolidating...early beginnings of possible long term uptrend...I see a possible cup and handle formation here - handle being formed here on this consolidation period and once she's done, we move up - if the pattern holds true...
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