The rate ADN is sinking it would not surprise to see the MEP trading gap filled imo. Have taken some cautious action to protect profits via reducing my MEP holding Wednesday. I dont hold ADN.
The way I see it taking profits on MEP, the profits can sit in the bank until such time as I think ADN has bottomed, then at that time I can buy back into ADN. The shorters are not worried over at ADN and that worries me as I cant see MEP's Wednesday's 19c high getting taken out now.
ADN threads are full of rampers which turned me off a long while back and one reason I sold that stock at 35c. (other reasons were T.A. & market cap for a spec stock). How low will ADN go? No idea but price & volume action will indicate a reversal of the down trend in that stock. Watching the charts & company announcements not the ADN threads.
MEP technical setup, page-209
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