Big, I think you are missing the big picture here, and I would caution you that the moment you start to think something is "too easy" (your words) is the moment you get slammed. And arrogance and pride will only lose you money in the stock market. With that said, I don't just watch the fundamentals (which are strong and improving), I also watch the technicals. $8.40 is clearly very strong resistance for the stock as it retested that level and dropped very far very fast. The 20 day, 50 day, and 100 day moving averages are at ~$7.00, ~$7.30, and ~$6.50 respectively (and all rising). These are the levels to watch if you are out and trying to play the swings, or if you are long and looking to add more. I am in the latter camp.
Sentiment: Strong Buy
I agree with you, Canceling the conference without advance notice to shareholders was not a good move, and I too was one of those people that arranged my day around being able to listen to it live. I just don't see how that affects the prospect of good well results, increases in proven reserves, or oportunities to re-finance - the reasons I invested in the company over 2 years ago.
The stock runs from $4 to $8.40 and people are elated. The stock drops from $840 to $5.50 and people treat the stock like garbage. The stock shoots from $5.50 to $8.40 and people are elated again. Now the stock has gone from $8.40 to $8.03 in the setting of a falling market and in between news cycles for the company and yet people are trashing the company again. Some of you like to claim that the market maker has been manipulating the stock, but its emotions that make the stock so vulnerable to these big swings. Forget production increases, if we got half of the people on this board on a mood stabilizer, we might just make it to $9 by the end of the month.
Sentiment: Strong Buy
Production for Sword was announced after 11/15 so the increase in shorts occurred prior to new production and while the stock was sitting around $6.20ish
It was pvx and doinoktoday that bashed the stock. I don't remember pxv ever being bearish, I think he/she was created by a bull who pumped the stock in hopes that the board would confuse the name for pvx. The rest is just how I remember.
Just like they seem to report good news on Monday Mornings before the bell, they seem to post bad news (including capital raises whether you count that as bad news or not) on Fridays after the bell. My guess is that they will release this news this afternoon, but MILL PR has been very difficult to predict lately.
The problem with that strategy is that, I can't imagine this stock remaining above $8 for 2 more weeks without a news release.
So we are waiting on flow results from Miller's 3 latest wells, RU5B, Sword (West McArthur River Unit), and Olsen Creek. Well results are usually reported on a Monday before the market open. Miller also indicated that flow rates on RU5B and Sword would be available by the end of October and Voyticky specifically stated at the Westlake Securities New Frontiers in Energy Conference on October 8th that RU5B and Sword results would be out in the "next couple of weeks." That would suggest that flow rates would be announced this coming Monday (though they could announce their news the following Monday and still meet the October deadline). Voyticky stated that Miller expects RU5B and Sword to provide an additional 1,100 BOED.
Does anyone know what the expectations are for Olsen Creek?
Since RU5B is supposed to be completed by know, Rig 35 should already be working on the next well. Which well did they plan to move to after RU5?
Is Rig 34 the one drilling Olsen Creek? If so, what are their plans for it after that? Another Well in the area or move to a different field?
I'm assuming Sword #1 will either go to Sword #2 or Sabre depending on results, but correct me if I'm wrong.
Antibody-directed therapies have a lot of promise, and if this company can make it through all of the trouble of clinical trials and FDA approval without massively diluting shareholders, investing here could be a great way of profiting from this technology. The problem is that this company is still years away from marketing their product. They stated in their October presentation that their Iomab-B phase III trial for the treatment of AML will take the rest of 2013, 2014, and 2015. They don't expect approval until 2016 and don't expect sales until 2017. That is a really long time to wait in the investing world and their might not be frequent enough catalysts to move the stock during that time. If you plan to put your shares in an account for 5-10 years and forget about it then fine, but I don't think a lot of investors will want to wait, and their selling along with the company's options for raising capital could cause this stock price to go down before it goes up. I am going to keep this stock on my watchlist for now, I think its dead money for the next year or two. Feel free to convince me otherwise, afterall I believe in their product
I appreciate the other investment ideas guys and I know and like USEG, but a lot of these posts are getting thumbs down so I think we should get back to MILL and the great news I am hoping that we get on Monday morning. This stock wants to go higher, all we need is management to give it a little push
Sentiment: Strong Buy
Did your name just change or are there two of you? and my posts go back much further than 4 days, all you need to do is click on my name, change the "3 month" selection to "all", and you will see.
Your argument is valid but the way you present it with personal insults is a distraction. You would be well advised to look up the term ad hominem. I have been following this board for years and I remember you well. Calling to short at $4.50-5 and sometimes (but certainly not always) to buy at $4 or under. MILL bounced in that range for a while and i'm sure that if you were putting your money were your mouth was you probably made decent money playing the swings. Those of us "dimwits" who were long from the 2's, 3's, and 4's, probably aren't too regretful for arguing Miller's value from the beginning and ignoring your calls to short. Now we are feeling vindicated in our early claims and intend to see our investment strategies out, while you no doubt are looking for the next swing to take advantage of. I have no problem with this. I have played my fair share of swings (SWC was so predictable 3-4 years ago if almost felt like a crime), but forgive those of us that believe in the long term value of Miller if we view your short-sighted strategies as anything more than a distraction.
And I assure you that Burn and myself are very different people.
Jeanimhof, all of your posts (which began yesterday out of nowhere) say sell, regardless of the stock. You have no credibility, and no influence on this board.
I was expecting well results this morning before the bell. That's usually how they do it. I don't remember the last time they reported well results on any day other than Monday, and if that trend holds, we will have to wait another week.
- Person A owns 1 share
- Person B takes that share and sells it to person C without purchasing it
- Person C now owns 1 share.
- Persons A and C each own a share while person B owns the equivalent of -1 share
- 1+1-1 = 1
- When Person B covers his/her short, he buys 1 share from person D and delivers it to person A
- So person A gets his share back, person B has covered and owns no shares, Person C has the original share, and person D has sold is position and owns no shares.
Does that make sense/is that what you were unclear on?