I would gather that given the extensive sell off accross the board, and the lack of news to support this, that a fund/s with substantial positions wanted to lighten off exposure. That is just my guesstimate. If any one knows the real reason would love to hear it!
Add to the fact that many were looking a bit technically vulnerable and that today a lot of stops got hit below key levels and we have a lot of red around.
XJO at some pretty nice support as at the close, and we have fallen pretty hard of late all over the market. Might be bounce time tomorrow.... but after all the fear still present in peoples minds who knows. But you normally capitulate fully into your lows and a lot of stocks seem to have done that today.
There will be some good buying opps coming up I feel!
MPO volume today was still lowish.... so really its just a trickle of people moving out. Gonna be hard for them to get back in I reckon when it starts to move again.
MPO Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
