took a loss at $8 1/2, still hold minimal position, and will add again when told to do so (although averaged down at $7, so some gain, some loss). I'll get my money back with this company. It's obviously going to take time. I went against good advice at $15, as you know, as sometimes I'm a knucklehead. TMAR's management gave me bad information relative to last quarter's earnings; so bad in, bad out. TMAR still trades way under (250% under) a reasonable breakup value. My friend still believes TMAR will trade up to $17 in another ten months (or, at least, he hasn't said anything differently), but given the oscillation charts of other oils and the price, he also advised biting the bullet at $8 1/2. I'll let you know if and when he gives us a buy at this price again; as he's interested in adding some oils to his portfolio, although, he's not spoken to me regarding TMAR in a while and so I don't know if TMAR is one of them. TMAR's CFO did not return any of my calls for the past 40 days - possibly because they gave us, and others, no doubt, information that stated earnings in the $.20 to $.29 range. Their report showed less than that primarily because of much higher SG&A expenses (over 40% - normal was 33%). So, unless they bring down their SG&A for the upcoming quarter by reducing labor for ships not in service...
Wonder what they're waiting for. Everyone is starting to wonder if we'll ever see $17 oil again (sounds ridiculous, I know). |
