RE: Melt downI have been watching the trading on several juniors lately and it is common to see the last trade of the day go through Anonomous for 100 shares to take a stock down a few pennies at the close and paint the tape. The only logical reason I can think of is some houses are short, and trying to keep investor sentiment low, OR, houses are setting up low bids to accumulate cheaply and trying to encourage selling.
As for MAG, I think the stock is going to correct all the way down to $12 to fill that gap when the JV news came out last month. I have a bid in at $13 too, but am also fishing for cheap shares at $12 and I hope it happens, before we move on the next leg higher. The MACD has rolled over and on thin volume, I think MAG will be walked down to support before it recovers to set new highs later this year. The trading history for this company is filled with big moves up, followed by nasty corrections.
cheers!
COACH247