The entire day was nerve racking with eager buyers piling in premarket, then sellers taking profits for a few hours followed by the bumpy ride up to the finish. There is a lot of nervous trading but MAGS still finished higher that any other stock. The MO is still there and building IMHO. I have a core position but day traded long 2 times yesterday.
Sharp? I didn't notice. End of day pullback is healthy to every stock. BTW I was nervous on Wednesday when MAGS closed at its all-day high point. Now it's OK. $43 on Monday, $55- next week, then we'll get -guess what? S-P-L-I-T!
17 days ago this stock was 10.00 and the volume was 6,500 shares and looked at every days'price and volume back too 1999 the stock might of averaged 70,000 shares a week,this what bothers me,some are comparing it to TASR which is a train wreck waiting to happen,their gross margin is 4 times that of Mags and a lot less labor intesive to set up and maintain,TASR looks like a 10.00 toy gun selling for 1,260.00 a piece the third world countries ,China ,korea ,taiwan will make and sell them for around 250.00 watch and see,there is no reason on earth mags should be trading in tis range 10.00 maybe 40.00 noway they are not generating nuch in groos sales beware the MM sharks.
It is a three day weekend. The weak cannot handle holding stock that long. This was expected and this is good.
If there is any news about anything, and I mean good or bad, in the middle east, this goes UP and UP.
Next week they, the weak who sold at the end of the day, will buy there shares back at a premium. GAP up on Monday.
$65 by Friday.
See my previous posts if you do not understand.
Best of Luck!!!
I noticed short covering at a 100 shares at a time at the end of the day.
Great stratagy. EG: If you have 1000 short, you cover after hours, 100 at a time. This way you get out without a great loss.
I watched every tick on MAGS today. I actually thought the stock acted great and filled the gap nicely. MAGS definitely showed some resistance at 40 but based on todays volume and the RSI...MAGS will go higher from here. Thats not to say that we might ot see a pullback or consolidation along the way. If you dont have the stomach for 10-20% inntraday moves then you are in the wrong stock. With this tiny float of 2.5 mill that actually turned over 5 times today you will see all kinds of tactics to steal your shares. Don't even think of unloading a share unitl the split becomes a reality.