but anyone who thinks the price of a stock always remains within a reasonable range of fair value is kidding themselves.
interesting battle today ...who will win?
1/ Mr Bot chipping away at 29.5 hoping the panickers panic; or
2/ The MEO believers who know it is worth more and refuse to sell.
LT holders.....ask yourself this.....if I panic now and give in to Mr Bot......do I really think the move down will be permanent or do I believe that even if it does crack 29.5 it will come back soon so no point worrying about short term moves.
I am in the latter camp. I couldnt care less if it drops a little more. It will come back in my view so whether it closes at 29 30 or 31 cents today I could not care less.
watching minute intraday moves is a nonsense unless youre day trading with a very short term horizon. worrying about intra day moves when you bought in for a longer time frame return is silly.
I know one thing...I won't panic. No need to.
MEO Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held