posted
Seems to be growing support under the bid at .03.
I don't think we go down anymore. I think we go up soon!
BF
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Notice how it is moving on 50k hits? MM's have few sells and few buys so they have put blocks down as fences and turned attention elsewhere. Once a few of those blocks get hurdled their attention will come back.
Not saying that means news is emminent but it does suggest that no one is currently interested in selling below current pps.
BTW, that 50k at .031 that moved the bid was a partial fill for me. Rest of the order will sit for the day but I kinda doubt it'll fill.
BF
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posted
The last of the .03's were taken out with a 50k order.
I took out the .031's with a 50k order.
Someone else just took out the .032's with 3 orders equaling 49,995...
Anyone else seeing the pattern here?
Unless some bagger with a ton of shares dilutes the market we move up from here.
Bring it baby!!!!!!!!!!!!!!!
BF
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Ask is thin all the way back up to .05 which was the support level we broke 2 weeks ago.
All we need is a little momo and with financials and reenlistment back to the OTCBB coming any day now I really think that momo is only a matter of time. Very good chance of seeing 100% rise from this level by end of next week. FWIW. IMO.
BF
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The Michelex Corporation is supposed to file it's registration for Relisting on the OTCBB Exchange by Friday Oct.13th 2006
Posts: 749 | Registered: Aug 2005
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Seller entered the market. Brought us down to .033/.035.
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Not as much as I was hoping but any good sign of life is welcome.
Should be a good Friday tomorrow.
BF
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MASSENA, N.Y., Oct 13, 2006 (PrimeZone Media Network via COMTEX) -- Michelex Corp. (Pink Sheets:MLXO) "Michelex" (or the "Company") a plastic manufacturing company and an audio record production group announced today that their Auditors, Seligson & Giannattasio, LLP have completed the company's audited financials for 2004 and 2005. This will enable the company to have the 15(c)(2)(11) filed to quote its common stock on the OTC Bulletin Board which is currently in process; however there can be no assurances as to when the 15 (c)(2)(11) will be approved or whether it will be approved at all. Thomas Gramuglia, CEO of Michelex announced that since it restarted production on July 10th, the company has been successful in regaining market share. The Company's August sales were up 140% over July, and September sales were up 70% over August. The company anticipates that their operating margins will increase due to the declining costs of polystyrene, the raw material used in manufacturing its products, which is predicated to the oil industry cost per barrel.
The Company has leased another building in the Massena Industrial Park giving it an additional 20,000 square feet of warehousing space needed to accommodate the plastics manufacturing plant.
The Company also announced that one of its two retail websites (plastics) is operational and generating sales. (www.michelexmedia.com) The music retail website is near completion and expected to be on-line next week (www.hindsightrecords.com). This website will feature product from its music catalog including Big Band, Classical, Country, Comedy, Polka, Children's Music and will also offer special seasonal promotions of Christmas Music.
Just came out not too long ago. We should move this afternoon once people start seeing it.
Bigfoot
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posted
We can't see the financials quite yet as they haven't been posted but I really like this paragraph here.
quote:Originally posted by The Bigfoot: Thomas Gramuglia, CEO of Michelex announced that since it restarted production on July 10th, the company has been successful in regaining market share. The Company's August sales were up 140% over July, and September sales were up 70% over August.
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posted
They better be great. The bloodbath still continues with this stock. I hope they have enough money to buy back some shares. I think there is some short selling.
Posts: 806 | From: CT | Registered: Dec 2005
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There is a rumor floating around about Tom G. planning something to that effect but you never know what is true with that stuff until it is PR'd.
What we know we have is financials for the last year coming out and an SEC approval to the OTC soon enough. Anything else is cake!
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VFIN and UBSS are the only two that moved down. Every one else still has their places in the 4's and 5's from before. We get a little volume and push past the ******* VFIN who has been the main a-hole on level 2's and we are thin all the way up to .05.
Just need to get the believers back!
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posted
Michelex Corp. Announces Audited Financials Completed MASSENA, N.Y., Oct. 13, 2006 (PRIMEZONE) -- Michelex Corp. (Pink Sheets:MLXO) "Michelex" (or the "Company") a plastic manufacturing company and an audio record production group announced today that their Auditors, Seligson & Giannattasio, LLP have completed the company's audited financials for 2004 and 2005. This will enable the company to have the 15(c)(2)(11) filed to quote its common stock on the OTC Bulletin Board which is currently in process; however there can be no assurances as to when the 15 (c)(2)(11) will be approved or whether it will be approved at all.
Thomas Gramuglia, CEO of Michelex announced that since it restarted production on July 10th, the company has been successful in regaining market share. The Company's August sales were up 140% over July, and September sales were up 70% over August. The company anticipates that their operating margins will increase due to the declining costs of polystyrene, the raw material used in manufacturing its products, which is predicated to the oil industry cost per barrel.
The Company has leased another building in the Massena Industrial Park giving it an additional 20,000 square feet of warehousing space needed to accommodate the plastics manufacturing plant.
The Company also announced that one of its two retail websites (plastics) is operational and generating sales. (www.michelexmedia.com) The music retail website is near completion and expected to be on-line next week (www.hindsightrecords.com). This website will feature product from its music catalog including Big Band, Classical, Country, Comedy, Polka, Children's Music and will also offer special seasonal promotions of Christmas Music.
ABOUT MICHELEX
Michelex Plastics, founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio - Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products - Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
CONTACT: Michelex Corp. Thomas Gramuglia (315) 769-6616
Source: PrimeZone (October 13, 2006 - 8:30 AM EST)
posted
this stock makes no sense. news out today should have put us in the green and we are still in the red. something is just not adding up.
Posts: 806 | From: CT | Registered: Dec 2005
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I'm not terribly excited about the response today either but I am giving it time. We should see more once the Q's are available for review. I also am looking forward to the SEC decision. There is no reason so far to believe that they will be denied acceptance to the OTCBB. I just wish I knew how long it might take for that decision to be reached.
Have a good weekend.
Bigfoot
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posted
Well I for one like the news today and bought. It looks like there's a big upside to this company. Sometimes it takes a day or two for ther to be a reaction. Hopefully that is the case here. I'm patient and think this stock will do fine. Bought it as a swing to possible longer term stock not a momo play.
GLTA Wally
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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Thanks for reminding us of what this looks like to a new trader. You are right there is tons of upside here! Some of us were expecting news two weeks ago and have some pent up frustration. Now we are seeing forward movement and it should be only a matter of time before all those good things we have all been expecting start comming.
Go MLXO!!!
The Bigfoot
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posted
MLXO was a BB until 3/31/05. As I understood it (I will find the links later, I had them at one time), the delisting and migration into pinks was largely administrative, and not an intentional desire to conceal information- the typical reason a lot of companies switch from BB to Pinks (IMO). They tried to reverse tracks quickly at that time, but were busy with some contract deadlines and soliciting some investors, which probably slowed them down. PRs indicate they have been trying to get relisted on OTCBB since July.
More DD to follow. I got in at .03.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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quote:Originally posted by bilgert: MLXO was a BB until 3/31/05. As I understood it (I will find the links later, I had them at one time), the delisting and migration into pinks was largely administrative, and not an intentional desire to conceal information- the typical reason a lot of companies switch from BB to Pinks (IMO). They tried to reverse tracks quickly at that time, but were busy with some contract deadlines and soliciting some investors, which probably slowed them down. PRs indicate they have been trying to get relisted on OTCBB since July.
More DD to follow. I got in at .03.
As an extra they were the victim of toxic financing by Wells Fargo. They succeeded in getting that solved.
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posted
150k so far this morning. Good volume so far.
Lets have a green day today!
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posted
Word on the street is filings have been sent in to get Edgared and any delay is in the hands of the SEC at this point.
As long as nothing is wrong with the filings decision about the move to the OTC should come out within a week of the filings.
If there is a problem with the re-enlistment forms the company has something like 60 days to remedy without needed to refile.
Here's to hoping we get some movement soon!
Big
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Take a look at the chart and play around with it for a while.
everything I'm seeing says we are just about to see a reversal here. If filings can time to it right and news on the re-listing comes shortly after than we are looking at a very solid increase.
Worst case I see coming is no news and a modest bounce off the .03 support.
We shall see.
The Bigfoot
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It may just be time to remember that before the slow drop these past couple weeks this stock moved by .005 ticks at a time instead of this piddly .001 crap. Lets get that trend started again shall we?
The Bigfoot
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(Yeah, it was a paint of 850 shares 2 minutes before the bell but it does signal potential for a very good Friday session.)
Look at our candlesticks for the week...
Monday we have a small white candle Tuesday and Wednesday we have Dragonfly Doji's Thursday we end with a nice white candle with a small shadow.
Our MacD is on the rise and about to cross,
Our RSI is undersold with a stir of life
Our Full Stocastics crossed today and hint at a rise.
CMF is positive and growing
Center line of Bollinger bands sits at .04 same as the 200MA with a 50MA at .05.
With confirmation tomorrow the ADX and Aroon will begin to show as well.
All this needs confirmation that a trend is developing but if you like the chart, like the spread of the L2's, like the history of the stock, and think that we have news around the corner like I do...this would be a good time to get in.
GLTA
The Bigfoot
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posted
Good morning MLXO'ers! Let's see what kind of Friday we have in store for us.
.029/.032 right now. New the paint at .035 would be gone but glad to see our ask still hanging higher than it has all week. Maybe we make that.035 come back and stay today???
BF
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Spinning top today. Tug of war between sellers and buyers.
MacD is a tick to the positive and the Slow STO is on the rise.
Very low volume today though. Says shares aren't getting released but it also shows weak buying pressure. This *needs* to change.
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