Just an FYI to you long term holders of MAGS...
This MadMax person is not long MAGS. His m.o. for many years on Yahoo is to post very "bullish" statements about any particular stock while he shorts it. He tries very hard to get others to buy while he shorts. On some smaller stocks, he has done very well. He does not buy stocks on the long side, as you will see if you research his "picks" since 1998. Virtually every one of them fell well below the price they were trading at when he first "appeared" on that stock's thread, posing a an "ultra-bull".
I do believe he works for a small firm that capitalizes on shorting small co's, preferrably with small floats. His track record is pretty darn good for shorting stocks. It appears MAGS is his latest "pick". FWIW :)
The reality of MAGS as it sits now is indeed a bearish chart as verified by the daily, weekly, and monthly charts. No need to buy in just yet if you are looking to as odds greatly favor more downside. MAGS downtrend began on December 11th and has not looked back since. JMHO.
Sitting near 52 week lows still and may look to buy on a nice shakeout. Patience.
Indeed...however, it did not affect the stock price in a positive fashion whatsoever. Now, all the "risk" of a major "short squeeze" is virtually gone from MAGS and the short side is safer than it has been in years, imo.
Short of a sudden buyout, MAGS should drift lower from here to levels I have previously identified as major support.
Thanks for posting that data, ben...very interesting.
Short. MM's have decided not to play games on the spread for once. MAGS should break down in earnest any moment. Stay tuned folks and watch how TA is used in its purest form ;)
No pie in the sky "hunch" predictions here...just good, solid technical analysis. When support is tested for too long, it WILL fail. Pure and simple.
MAGS is a looooooooooooong way away from ben's "MAGS will be trading north of $12.00 by end of January" prediction. Not trying to beat a dead horse, just want to make sure the newbies do not get burned by statements such as that, with no factual basis to back them up. ALWAYS TRUST THE CHARTS...THEY ARE UNEMOTIONAL.
Has anyone here seen what MadMax has done to the IOTN board? He began "posting" on one of the latest "picks" (pretending to be a bull) at over $10.66, FYI. Still think he's harmless?
His outfit (a small hedge fund, I believe) preys on small cap stocks to short....and they do well at it. Must be frustrating for companies to have to deal with these guys, for there is really nothing they can do about it (barring sudden news of a buyout, etc.). On the bright side, for those looking to buy, they will provide a very nice entry at much lower prices as they continue to short in very small lots day after day, week after week, month after month. If I have it pegged right, they are more than likely short at around the $10.00 - $10.50 mark.
As I said before, they are very good at what they do and if you do just the minimal amount of DD, you will see for yourself. PATIENCE PATIENCE PATIENCE is the name of the game if you are looking to buy MAGS.
Hope some of you heed the warning about MadMax.
$9.00 now MAJOR resistance for MAGS....not quite what Ben had expected this month. You see, when the charts are as clear as they are in MAGS, one would never have come out and stated "I expect MAGS to rally north of $12.00 in January". Had Ben been educated in technical analysis, he would have been able to forecast, with a high degree of certainty, the direction MAGS going forward.
Technical analysis takes years to get a firm grasp on...but once you do, it's extremely POWERFUL. Are your trades going to be 100% correct each and every time because of it? Of course not. But I can tell you this much, harnessing its power will allow you to increase the number of winning trades over losing trades 100 fold.
MAGS is still being shorted and sold here, that much is very clear. If you want to obuy in for a possible border fence play, then all you need is patience...for MAGS will indeed be trading much lower here soon as the markets begin to correct in earnest (long overdue). With MadMax on board, odds of the nice shakeout are very, very high...for he is good at what he does.
I truly hope you are learning something here, Ben. I know your heart was in the right place when you said this stock was selling off from $10.50 last month due to "tax-loss selling". I knew it had nothing to do with tax-loss selling. I knew your heart was also in the right place when you made the statement "I expect MAGS to rally north of $12.00 in January". I knew odds of that happening were less than 2% and odds were much much greater the stock would continue to fall (as stated here last month). I'm not trying to be rude, sarcastic, or arrogant...just hope you are trying to educate yourself in technical analysis. As I said before, if you are able to do harness TA, you will be DANGEROUS. JMHO.
Onthejobsf is the one acting like a shortie, and a VERY NERVOUS one, at that. Kindly spare us the BS, ojt, and be ready to cover.
MAGS is a steal below 10, as we shall soon see... very good numbers for quarter and year are on the way, and beyond that, more good numbers to sustain and grow MAGS into the future.
Read 'em and weep, shorties.
VIVA ISRAEL, GO, MAGS!
I am most certainly not short MAGS...if I was, I would no problem whatsoever announcing such. Those who know me, know that to be true.
Now, let's get back to reality here my friend. You ave been here for over FOUR YEARS saying the same thing over and over and over again (MAGS has bottomed, it's a "steal" down here, will explode any day now, etc. etc.). Do you realize how utterly foolish you look? Do you have *any* idea how much money you could have made in thousands of ANY other stocks in the past six years, instead of sitting on dead money waiting for "the day to arrive"?
Breeves, you clearly have absolutely no idea how to invest, much less how to trade. Your extremely boring "MAGS is a steal down here...it will explode any day now"" mantra is real old...as in FOUR YEARS OLD. It's pretty pathetic, Breeves. I have a feeling you don't hold many shares of MAGS, if any at all. Nobody in their right mind would hold such a dead stock for FOUR YEARS with absolutely nothing to show for it. Either you are just plain "rock smart" or you have another motive. I think I know which one it is ;)
All one has to do is see your history of messages in MAGS and they will see the same posts from you week after week, month after month, YEAR AFTER YEAR saying the same thing. Come on "Breeves", it ain't rocket science.
Do me a favor and do not try and match wits with me on this thread, for your history speaks for itself as it relates to MAGS and your other extremely weak stock picks...none of which have done anything whatsoever.
Sorry to obe so blunt...but someone needed to say it...and you opened the door wide for me ;)
The chart on MAGS is clear for now...it ain't going up anytime soon. If it does get a dead cat bounce from here, $10.50 will be the absolute cap as it has been for years. The 52 week lows should break here soon. I'm planning on buying a few shares because of the whole border fence thing that MAGS may or may not participate in. But I'll be buying at lower prices for I am patient. This stock is too thinly traded for me to short, otherwise I'd give it a crack.
I have a feeling you believe MadMax is truly long this stock, breeves...you silly boy ;)
....bingo! Huge dump just minutes ago...52 week lows will break and the shakeout will commence. Get ready, folks ;)
Once again, Ben is left scratching his head as he predicted a stock price north of $12.00 by end of January. It was in the charts, Ben...I tried to tell you over and over. Like I said earlier, if Ben had a firm grasp on TA, he'd be one dangerous SOB!! :)
...more shares being shorted this morning....very small pieces, but they add up day after day, week after week. MadMax should be here soon on the false bullish stance. MAGS is firmly in "short the bounces" mode. Patience is all that is needed if one want in at lower prices. JMHO.