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Mitcham Industries Inc. Message Board

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  • faosto faosto Nov 4, 2006 1:44 AM Flag

    What a Cut In Production Means

    "As for Mitcham Industries, it is is a fine young growth company with a terrific return on investment. But like the rest of the energy sector, our stock has been pounded as if the industry is passe! "

    Sorry, but I disagree. Mitcham hit 9.70 just a while ago, and is now over $11. It has been creeping up to a normal level, not falling, and after the next earnings report it will be at $15.

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    • I don't disagree with what you are saying about it likely moving to the 15 area. But so far the industry has not really attracted any significant institutional money. And that is what it will take to really move MIND. It has a very thin market, so it can really move when the institutions start trading it. The problem arises when they decide to take profits, as they did when it reached 26.

      They will do the same again if it has a good run. So it's not a stock that you can buy for the longer term. If you do, you'll find yourself riding it up and down.

      It's no longer possible to buy stocks as long-term investments as was once the case. The large-block traders wreck havoc when they unload a stock as thin as MIND. To have sold at 26 would have been better than to sit here hoping it can make it back to 15, and then hopefully to 19-20!

 
MIND
13.26-0.03(-0.23%)Aug 27 4:00 PMEDT

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