It has nothing to do with panic fools or charts or fundamentals.....it was simply a case of ppl trying to protect their capital from another major fall in the US.
It was 50/50 which way the US would go last night...that's called gambling in a casino...if the US had fallen another 200+ points last night, I've no doubt MPO would be down again.....as would most other stocks.....
And if last night was a dead cat bounce and the US plummets again, then todays action on MPO and other stocks will be laughed at by those that weren't willing to take the gamble and buy (or not sell).....
No rights or wrongs in this situation....aim of the game is capital preservation....
Hopefully most ppl come out of this week (assuming the turmoil reduces after this week) with little scarring and more astute understandings of the state of play in the markets for the future.
Cheers
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
