sudden change in direction, page-2

mg555

No idea. Except that it had gone up too steeply and needed a retrace, but I didn't expect such a severe correction.

If its not insiders reacting to bad news (and MYX does not have a history of either bad news or insiders) then it may just have been hedge fund or trader profit taking after a 100% rise in less than 6 months. Happily my stops were hit at 80 and 78 so I am now just waiting for it to settle and then will rebuy. Tricky though as some previous down moves have not been as steep but have gone further down in percentage terms. So there's a chance that it will head as low as its 100 day moving average of 62 cents. It has bounced its 100 day ma twice before in the broader uptrend. If its up on Monday/ Tuesday then we may have seen the bottom and if its down then 62 may be the target. We shall see!

H