Just as I was wrong that it would hold 45c (as you and many of us also thought) I feel it maybe unwise to presume it is unwise to sell at 36. It may even go lower. Easily down to 30c if no news comes soon. Ig the deal is delayed well?????
I am as such still on the sidelines when the dead cat bounce did not last. Traders playing.
You warned not to sell at 45 so many may have lost out if they followed that advice. As always people must DYOR.
I feel it may easily have a whammy of a pump/boost come mid Dec. A surprisingly good outcome when the real fear has set in. Which will be this week for many of the medium term investors/traders when they see directors not taking options. I say late this week or early next week might be a better time to buy for thsoe wanting to bet a deal will come through.
The quicker the better mgt give a update the better,rather than leaving eveyone in the dark. The AFR article was to hold the price/lock in buyers for the instos.
Another few media articles initiated by mgt showing confidence might help improve the sp over the next week. No news will lead to fallen falls - and flat days followed by more falls IMHO. Could be wrong!
I hope some news come quick. Good luck to all traders and esp long term holders! Always DYOR!
Hold if brave/have faith - sell if cannot lose more.
MEO Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
