I made a nice profit on this and will get back in soon. Could have made more if I was watching the volume better.
I think the comments are VERY valid and not whinging. The fact of the matter is insider trading 100% happened in this instance - my broker said he had not seen such blatant insider trading in some time. They let the market know 1.5 days after they had sold it down! Being critical is NOT whinging! Very important for HC readers to have access to all sorts of views - including critcla ones - they are often the most udeful. (opposed to ramping or downramping) Such posts help make people more careful when trading!
The fact of the matter is the CEO would have known they were behind and should not have led people on - letting the sp rise knowing it would fall. This may be no fault of his own that they are delayed - I feel we have a good mgt team there that can deliver the goods. This does not mean however they will always do the right thing when it comes to making $! Greed = greed! They will of course put themselves/those in the know - before general shareholders. As we have just seen. We must all be less naive and understand this will happen again and again when trading.
Of course it does with many stocks but it does not make it right. It is why watching volume is so very important - more so than sticking to a chart's indicators. Charts are good for setting a stratgey - especially when done by skillful people like the guy who does the charts on this thread.
VOLUME monitoring/understanding volume - when to pick botting opposed to to a big sell down etc however is something more traders should do! It is a skill. One we should all try to improve on.
Good luck to all - be careful but I do feel MEO is still a winner in the making. Just the corporate culture has a lot to be desired!
MEO Price at posting:
67.5¢ Sentiment: Hold Disclosure: Held
