General discussion (MEI), page-1405

I did buy back at 24, but only a small portion. Reason being want to see how far the pullback goes. Also my holding was not very big like many others over here, so was easy to play out.

MEI is in strong bullish run, but it still is trying to do in healthy manner. After a rise there is pullback and retest of levels and then it moves. So gives opportunity to those who miss.

Another thing which was weighing on my mind is that it was reaching a psychological level of 500m market cap - when it touched 26.5. I am not sure but I would think that as it gets over 500m cap, it will come to notice of many big players. This should usually be positive if fundamentals are strong, many big players may see value here. But some could also see an opportunity to short if it was possible. On Thursday 1.2m shorts out of 24m, so still not high. Don't know about Friday. So watching this level carefully. Once it gets over this, there should be early 30s in play.

For those interested, I do a Weekly Report across 26 REE stocks. It has weekly and yearly performance, also some commentary on general markets. MEI is the leader of the pack with 353% gain for the year - wish I had got in that time. I came in only after CR when price came down to 11/12 level. Have had 2 good runs. Waiting for another one. All the best.

https://hotcopper.com.au/threads/mtm-weekly-report.7370668/#post-68116418