Grayman,
You start of by berating the sellers who smashed MDX down. And then you finish off by saying you are out with a small profit.
Why did you sell. You are no better than the sellers you berated earlier.
Until the placement is complete, MDX will struggle to make any headway. Everyone knows there are shares coming onto the market at 10c. Quite possibly those sellers today sold because they are taking up their entitlements. It makes good sense.
Also, drilling is not going to commence until the next quarter. Thats quite a wait for some, and usually the share price suffers when there is no good news anticipated in the immediate future. So expect further selling pressure.
I certainly considered selling my MDX holding when it was trading in the low twenties today. But I bought for the longer term and am happy to hold until drilling is underway and results come in. That is when we will see the real run occur on MDX.
In the meantime, the price will probably slip and that is the time to top up.
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