Medinah Minerals (MDMN)

[Medinaminer]

We can certainly make a reasonable deduction based on historical non performance on the part of Medinah BOD that the same will continue. Nothing constructive will come from the BOD. The safest assumption is a vote of no confidence in Medinah's BOD.

Looking at the chart, the safest assumption is to assume the share price will continue to go south.

As I stated earlier, maybe, just maybe, it is time to be the contrarian and do some bottom fishing here. Maybe, just maybe, it is time for Medinah BOD to deliver.

When things look great, as they did around the time of the shareholder meeting, hindsight says it was obviously not the time to buy. Now that things look gloomy, it may be a good time to buy. Today's action was encouraging in that the share price did not tank and closed at the top of the day's trading range.

I expect a bounce. I just can't say if it will be sustained or fade again to sink to print lower prices. The share price action is now a function of positive news vs. bad or no news.

Let's see how things shake out "next week".