Well, so much for my read for my prediction of today's action. I was wrong, wrong wrong. Too many falling knives on this puppy at this time.
Off topic: From time to time, to illustrate a point, there are some allusions of examples to send home the point a poster makes. Only within that context do I say this.
Take a look at XG. See how clean the deal is. The management of both the buying entity and the selling company do their behind the scenes negotiations, agree on terms, then make an announcement.
Clean, clear messages are given so as to not leave any questions behind.
What is this MDMN BOD doing anyway? Is 85% of the company's ADL 1508 bundle of claims sold or not?
What the hell is so complicated with valuation and the creation of the terms for an agreement. Why do they play these freeking games if this is a world class property?
If it is a world class property, then why is the company not taking steps to be listed on a proper venue, stock exchange, rather than a pinky where they can hide and play these stupid games of notarios, trips, weather, funding, no funding on and on and on. Why not take steps to properly fund the company, make it a "capital company" be subjected to proper audits and then apply to be listed on an exchange where there could be some enforcement teeth by authorities for playing these hide and go seek games.
What the hell is so problematical about naming a failed partner. What the hell is the reason that certain things are leaked and other more germane news is kept close to the BOD vests.
Falling knives again. This is ridiculous. If it hits low enough, I am with you, but I am not a buyer at this point today. I fully expected a respectable recovery this morning. But then again, I base that on my estimate of an extreme oversold condition.
Again, at this point, the share prices are strictly news driven. If there is something of substance, and the official announcement is made, then we may be off to the races. This whole idea of leaks to friends, and people close to the BOD coming out with their ridiculous comments about deals, closings, done done done, and next week is old old old. Come out officially or just shut the hell up and stop playing games until you have something to report. Just like XG.
