Boy, owning this stock is like Chinese water torture. For the last 3 months all the shareholder could do was have faith in the company and wait for news, wait for coverage, wait for the new acquisition....
We have heard nothing about SRS contracts or MM Industra contracts.
Heck, you have to read Haliburton's press releases to see the new MM Industra contracts. My take: 1. either things have gone to hell in a handbasket, 2. business is still going great but has had minor set backs with new coverage and lining up acquisitions, 3. There is a reason for the lack of news out on the company and soon the fog will be lifted, where we all say,"Aha! So this is what they've been up to!" I think the stock meandering the last several weeks has just been statistical noise; low volume, no news.
Long term, ECGOF is still a no brainer to me. They are looking to make $1.50 in '98 and around $2.00 in '99. I have followed the stock closely the last several weeks, only because I thought that with the "new coverage" and the "infamous" $1.20 coming out soon that the stock would react positively to these impending news releases. It has been very frustrating to see this all get dragged out.
What will probably happen is that we make $1.20 and the stock just sits there. I think the conference call will be key to the stock rise. It may take Mike going out on more road shows to build interest in the stock. The only thing that will move this stock is when the institutions start to hit on it. It has been a frustrating last couple of months owning ECGOF but shortly we'll see what progress our baby has been making.
By the way , we should have a strong support in the 11-11 1/4 range.
If we blow down sub-11 tomorrow with any volume, that could ruin my weekend. Of course with the DBCO deal still pending, who knows how the stock will react. Remember, tomorrow is options expiration day.
Two months ago I would have thought the Feb. 12.5 calls would be in the money by now. Oh well.
I am still very long and very frustrated. Good luck to all.
Mark |
