Nicholas,
The money flow in MFN for the last 18 trading days is listed below.
2/3 -159,400
2/4 -3,100
2/5 -15,900
2/6 -107,200
2/9 -5,700
2/10 -36,900
2/11 +27,500
2/12 -12,000
2/13 -13,200
2/17 -31,800
2/18 -9,600
2/19 -48,100
2/20 +42,600
2/23 -479,800
2/24 -541,800
2/25 -610,700
2/26 -272,600
2/27 -559,500
Notice the magnitude of the negative money flow the past five trading days. These numbers are much bigger than usual and it is particularly bearish given that the stock is trading at a 52 week low. MFN does have support at 1/2 and the bid size at 1/2 has been large for quite a while now. But I still don't think that diminishes the significance of the distribution that is occurring.
I have to say one more thing. I'm not holding MFN and I wouldn't buy it unless the money flow improves. I posted my comments about the money flow on the MFN thread at AOL and some guy ridiculed me for negative hyping the stock to push the price down so I could buy it cheaper. Anybody who knows me will vouch that I don't tolerate hype from others and I certainly wouldn't do it myself. I'm simply sharing my opinion on this stock as I do on many threads around SI and AOL.
Best of luck if you are long MFN but I don't see anything bullish about it.
Dan |
