Today was distribution day on massive volume, not accumulation. The announcement was by and large expected by the market as evidenced by the run on stock prior to today, worst kept secret?! lol, the sp doubled + within a few months. The announcement was packed with superlatives which effectively dragged in the retail market to buy on open providing the liquidity for a net exit of stock. For whatever reason there was actually no substance to it, perhaps the market will be enlightened in due course.
Its easy to ask how many were suckered into selling because of the downrampers, its just as easy and relevant to ask how many people were suckered into buying on open because of the rampers?
This thing will likely bounce once volume kills off, for those caught with stock there is a fair chance you'll get a second bite at the apple so I wouldnt panic sell at this stage, again watch for volume to die off and trading ranges to tighten up before a followthrough run, may take a week or so but it should happen.
IMHO only
Good luck holders.
MMZ Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
