This is one of the best threads I've read in the MEO forum for some time.
There is no blame game just an exchange of ideas on how the stock is going and how pple are reaching their decisions and acting on them.
Of course MEO is a trading stock. All listed companies are. It is only when you get into the more expensive blue chips with dividends that you find more stability. Not that there is anything wrong with investors holding a small cap/penny for the long term if they believe in the fundamentals.
The decision to sell part of a holding with the view of buying back in at a later date and accumulate/average down or whatever is also fine. The important thing is that you make a conscious decision and don't look back.
Make sure you work the market not the other way round.
What I believe has happened in the last couple of days is the result of waiting for the ann and the SP finally settling down after the CR. The chart shows how the SP was simmering around 45c since the initial shock of the CR. This was helped by the 2M+ cappers around 70-80c. Once these stopped their daily fling at the beginning of the week, it seemed to be a sign for the price to move.
It is interesting to note that Commsec, National and ANZ each sold 5M shares during this period so, if they participated in the Nov CR (Commsec 4m, National 11m and ANZ 7m) then they would have just about got their money back with a slight profit. There was a spike in volume and SP to 50c around the farminee ann TH, Dec 18th, so this may be when reduced their holding.
I was surprised yesterday that, with the please explain ann, they didn't return. If they had it would have spooked holders even more and the SP would have plunged. Perhaps this shows that their intent was to keep the SP at 45c for VWAP purposes and the main ann is imminent.
Yesterday a different ploy was used when the bots came in for an hour before closing. This kept the SP at .49c. Attempts were made to keep the closing auction at 49c too keeping the diff between buy and sell to 1 share but other forces prevailed and it ended up at 49.5. This shows somebody else wants to buy in at cheaper prices.
It is all games and the roller-coaster that is MEO is no different. Looking across the board there are so many companies with lacklustre management that do not even make it on to the HC pages. Stocktoe was right when he said that the move this week was a technical break but, for the company to be come technically motivated, it must be active and have sound fundamentals. There is no yin without the yang.
After this ann finally comes along then the SP will go to wherever the market wants it to go (or feels it deserves to go). You can bet your life it will continue to be a roller-coaster ride at whatever range it ends up at. After all there will be the anticipation of the Artemis drilling and whatever other goodies they may come up with.
We all have to plan our strategies and be happy with our decisions - like we do in all walks of life. The share market is really just a microcosm of the emotional world in which we live - and aren't those emotions shown in the HC forums.
I will just miss stocktoe and OA reproducing it all in chart form:>(
MEO Price at posting:
49.5¢ Sentiment: LT Buy Disclosure: Held
