I jumped off that ship at 12.15 in may when the market started having earthquakes...
As for MELA I wouldn't jump right out and say the offering was a bad thing. Everyone hates them, and yes it is a little fishy.
However if you give it some thought , the market is getting shaky, and they only have enough cash to last them about 5 quarters. And lets face it, management knows people play the run ups and can sell off. And everyone and their brother knows the housing market is going to tank again.
So if you knew people sell off after decisions and the market might be headed downward for the next year, and your going to run out of money in a year, wouldn't you secure some cash now? It still gives time for appreciation in the stock price again and they had 2 insider buys in june (not for much though)
Im going with biorun on this one as long as the over all market doesn't tank before then. which Im 50/50 on. Decent earnings across the sectors could keep the market uneasy but afloat for another quarter. But I'm leery of housing even as a bio guy.