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Media General, Inc. Message Board

  • thugwatch666 thugwatch666 Oct 11, 2011 12:10 AM Flag

    Huge bid/ask on Level 2

    Reading the bid/ask can be tricky. And market makers or indiviudals placing the orders can change or cancel them in a second. But if out there it can be filled.

    Today with MEG in the mid 1.50s monster bids and ask showed up for several minutes. On the ask were 450,000shs, 250,000 shs 200,000shs and on the bid were 160,000shs 200,000shs 100,000 shs. I don't remember the exact numbers but those are close. After several minutes they all disappeared.

    What were these monster offers telling traders? Market maker games or is MEG about to see some serious fireworks. The 4 million shs short could have those folks very nervous. Or else a big holder wants to clear the deck for tax loss purposes.

    Most volume is nothing more than flippers, as was Dan's 16,000 sh trade. Without sellers the shorts cannot cover. These huge offers were some sort of flag that the shorts want to cover and lock in the gains. BUT THEY CANNOT COVER WITHOUT SELLERS. One exception to that would be market makers who trade for their own account- long and short.

    Of note is these monster offers showed up after Amin's 'deep value' piece showed up on Marketwatch. Shorts know that a few bigger players can start and keep buying and drive MEG up resulting in a major short squeeze.

    In Amin's MEG assessment he stated it was worth losing it all in a bankruptcy for a potential 1 year 5 bagger(more or less). One scenario of Amin's has MEG at $9, the other at $12, by year end 2012. He says then sell it.

    Amin is signaling other players and hedge funds- PILE IN! Lets' squeeze the cockroaches.

    $1.60 to zero--or will it be $1.60 to $9 or $12. With MEG's tiny market cap and tiny float fundamentals need not have much to do with a large price rise. A few skilled players can tell the shorts- LET'S PLAY BALL.

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17.40-0.05(-0.29%)Oct 21 4:02 PMEDT