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MELA Sciences, Inc. Message Board

  • dwoods4q dwoods4q Jan 2, 2013 12:11 PM Flag

    ESTABLISHING A BOTTOM

    IMO We may be seeing a bottom forming. we had a sell off with higher volume than on average with no news. If the pps can rise over the next 3-5 market days on higher than average volume with no news to speak of, we may have established a bottom around $1.75ps.
    If we have in fact established this bottom, the next few days will tell [ yearend portfolio adjustments are behind use], the pps should start to rise slowly into cc. At which point the CC outcome will determine how fast we proceed . The risk/reward ratio will have swung from short to long. The ratio being rather high for the short position vs float, and is a poor % position unless you see a secondary offering in the next few months.
    If MELA management announces that it has raised enough cash from its stock sales and revenue generation [sales,card sales] the shorts would get crushed. It will be interesting to see the short position numbers thru 12/31/12..
    IMO we could see a 20%+pps upside over the next quarter or 2............opinions

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MELA
0.5135-0.0497(-8.82%)Apr 15 3:59 PMEDT

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