Originally Posted by
Stock Magician
Bill,
I have been thinking about this as well. I suspected that a gap up this morning would induce some heavy profit taking. If you think about the people who got in between .0001 - .0003 with 1k in they were look at between 10 - 25 thousand in profit. yes that;s 1000 to 2500% profit.
But, come on . . . I thought there would be a lot more people holding even with huge initial profits. Additionally there were a ton of flippers. This can really slow down the bull. I believe that is why we are having so much volume. We have attracted too many stock buzzards.
BEHL had me thinking about that. They have had a very quiet rise in pps. 40M in Volume compared to MGLGs 1.8B. This just shows that you have a lot of flippers and manipulators in MGLG. Not to mention that when you have a huge profit taking dip many times the hanger oners (those that only jumped on the stock because of the rumors) will panic and dump causing a cascade.
A letter stating that they will be generating revenue didn't even turn this around. I think we will just have to wait out the storm. In the end I still think this will be a solid stock. We are dealing with human emotion/psychology right now. The only problem was that it worked against us instead of for us this time.
What say you Bill, Ray?