What comes to my eyes is the big gap @$ 14-15 area. MACR is very weak for today, tried to short, but didn't get a fill when it was trading above $20. So I will try once again at closing time. I use it as a hedge/spread. Besides, MACR management isn't conservative at all. MACR has a long history of too optimistic outlooks, IMHO fund managers don't appreciate that much.