Oversold? technically not sure at this point as it's sill...

Oversold? technically not sure at this point as it's sill looking for bottom, but massive correction is unfolding in a very brutal way and today's panic selling says everything. Especially with the contribution of short sellers, she was driven down very fast in the last few sessions...feel very sorry for those who bought at the high and participated in the $8.5 CR. I guess it must have been headache for the big boys too as thin market depth also makes it very difficult for them to unload large amount of shares without trashing the share price.

Chart looks very ugly at the moment with no obvious support level above $3. If I were holding a big loss...might as well wait for it bottomed out, buy some to average down and hold for the bounce to break even or might even make some profits.

Correction will come, it's the nature of every stock's chart on any time frame you look at, be it hourly, daily or weekly. MCE has made astonishing high and is now looking for the low...will eventually ends somewhere in the middle...time is your best friend.