50% retrace TODAY of decent run from june lows smack bang on the 22.5 pivot ... classic sell the fact and prob triggered plenty of stoplosses along the way on a market bad hair day.
Global nervousness atm as DJ once again approaches pivotal support circa 9800 ... adds to the mix as well as fact this aint a daytrade. Maybe trading halt also also caught out some T+3 margin / daytraders to forced baleout (?).
Announcement today was company maker IMO and personally expect to see this a billion buck market cap within 3 years. One for the SMSF with greater confidence for mine now.
Screaming accumulation opportunity on any weakness short term. Shld bounce from here back toward 26.5 pivot and tread water inside that range until next news. Anything further down is oversold IMO.
Its all in the TIMING and them with spare cash and no rush to cover debt are the lucky ones.
IMBOOC
MFE Price at posting:
22.5¢ Sentiment: LT Buy Disclosure: Held
