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| Posted by | Message | GenesChin 
Ole Miss Fan
The Promise Land
Member since Feb 2012
3142 posts
| Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 1:55 pm)
I have been looking into investing a little into energy growth stocks. World needs more energy and oil is going to be an interesting commodity if inflation goes up
I have been looking at Miller Energy Resources, Inc (MILL) and potentially EXCO
Tell me why this is a bad idea
This post was edited on 1/14 at 1:56 pm
| | Back to top | Share on  | Lsut81 
LSU Fan
Member since Jun 2005
54814 posts
| re: Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 2:23 pm to GenesChin)
quote:
Tell me why this is a bad idea
Tell me why this is a good idea 
| | Back to top | | TJG210
LSU Fan
New Orleans
Member since Aug 2006
18426 posts
| re: Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 2:41 pm to GenesChin)
E&P company?
| | Back to top | | Vols&Shaft83 
Tennessee Fan
Member since Dec 2012
3117 posts
| re: Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 3:11 pm to Lsut81)
Yeah I was wondering this myself
| | Back to top | | Vols&Shaft83
Tennessee Fan
Member since Dec 2012
3117 posts
| re: Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 3:59 pm to GenesChin)
Besides the tremendous risk you take in Oil investing. MILL got it's arse kicked today, -5.85%, and it's earnings over the last 3 years SUCK MAJOR WANG. EXCO is even worse and it's in debt up to it's eyeballs. Wouldn't touch either, unless you want to be a day trader
| | Back to top | | shaqfu33
Member since May 2007
48 posts
| re: Miller Energy Resources, Inc Stock (Posted on 1/14/13 at 5:04 pm to GenesChin)
You better have nerves of steel. Extremely volatile and heavily manipulated. Although, normally 3 - 3.50 has been a good entry point. There are 9.4 million short sellers (45 days to cover at avg. volume).
Earnings have sucked because they didn't have any production. They shipped a brand new rig up to Alaska earlier this year, and they are STARTING to produce (very slowly). They've had their fair share of growing pains, but the future looks promising.
The question is how far in the future.
Management looks clueless at times, which has been brutal to the stock price, but they are also heavily invested so they are aligned with shareholders.
Also, they use the successful efforts method of accounting which is the most conservative method. This has helped contribute to the poor financial statements. This stock was $.15 3 years ago, so they've already come a long way.
People trading between $3/$4 - $6 have made a killing the last year and a half. Unfortunately, I've only taken advantage of that once.
Disclosure: I own MILL, if that wasn't already obvious.
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