It appears MESG began another breakout today. The last breakout was
April 9th which was also a Friday. Breakout meaning increased price
and volume.
April Low High million shrs
8 10-3/16 11-3/16 .5
9 11-1/4 16-3/4 2.6
12 14-3/16 19-5/8 2.4
13 19-1/4 26-3/4 2.7
14 17-1/2 26 1.3
15 13-5/8 20 1.1
16 .4
29 13-1/2 14-3/4 .2
30 15-5/16 19 1.0
Point being, we will likely see higher prices and volume Monday.
The last breakout required 3 days to make an all time high. The news
on MESG is good and given sustained interest in internet stocks next
week, there is no reason why MESG will not move higher.
I must point out, that MessageMedia filed a S-3 Jan 22, 1999
registering 7,063,015 shrs for sale by various entities and people
sec.gov
These same people were restated Apr 23, 1999 in Form424B3
sec.gov
which suggests there are large shareholders out there looking to
lighten their load. If MESG runs next week, because of these people
looking to sell and daytraders, it may take 2-3 days to reach a new
high. In which case, as long as MESG sets a higher HIGH than the day
before, consider it a HOLD. The day it fails to push to higher levels
you might want to consider it a SELL.
I have BOT MESG at 5 and 10, and I'm beginning to think we will not
see those prices again anytime soon. Therefore, depending how far you
want to ride the MESG wave should temper your decision to SELL. |
