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Miller Energy Resources, Inc Stock
Posted on 1/14/13 at 1:55 pm
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
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 1/14/13 at 1:56 pm
4
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
Posted on 1/14/13 at 2:41 pm to GenesChin
E&P company?
Posted on 1/14/13 at 3:11 pm to Lsut81
Yeah I was wondering this myself
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
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.
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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