Well, another bashing up for me by the usual posters.
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But lets look at the facts.
Last week MEI finished at 10. Today at 8.6. Roughly 15% drop. In a week. With a touch of 8.3.
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I know I am not the usual poster out here. Mainly, and some argue that's not the reason, because I always get a hostile reception. I have been posting for close to 1.5 years, concentrating on trading pattern and trading range. I argued when MEI was not able to get over 25, when its market cap got over 500m. Same reasoning at 31 after more shares had been issued. Many of my posts have gone to the bin. Why? I usually talk about SP, what I am doing etc. But for some its was a way of saying - get out of the way, you have no clue. We know what's happening. Many of my posts lost.
Now look behind. Someone claiming to hold over 6m shares. At over 30c it was close to $2m. Today its close to $0.5m. So $1.5m gone. But they may say, I got it at 2c, I am still ahead. Of course. I don't deny that. But if someone has an alternate opinion, don't try to act like God. Thats what I have been trying to say. For long. Make your $2m, and then another chance to make another $2m. That would be good, isn't it. In hindsight.
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You have to think, why is MEI dropping so big? It dropped close to 75% from its high? Why? Any takers.
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And most importantly, where is it going from here? MEI is a mercurial stock. I have watched nearly every trade for last 1.5 years. I don't take anything for granted. It can do anything. But I also observed that it was playing weak, since I got out well in 20s. So 2 things can happen. It will either make a comeback, but as I have been writing before 12c was the number even when its was playing 10/10.5 - I wrote its weak till it reaches 12. It never reached 12. Going forward, reaching above 10c and staying above that, will be a good thing. If things go wrong. it might sound outrageous, but 5c may be in play. Only because then the market would be saying, that its not economical. I don't believe that, but my fundamentals are weak. I follow price action. That too is weak. I wish holders well.
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