Brace yourself champ. MRM will often move in the opposite direction to Oil, especially when the shorters are on the chew.
There has been an astounding lack of understanding around the argument AHS has been making above.
Oil price could go to $70 tomorrow, and MRM will still most likely have a significant writedown on assets at the next report.
Without a major contract win between now and then it is almost guaranteed.
Short term, this stock will be hammered down until the ugly details of the writedowns are known. After that I may consider getting back in, as yes, the steady increase of the oil price will eventually trickle down to the service providers.
The argument AHS is making is about a time lag between the oil price rise, and the rise of actual oil services contracts.
That lag could be even longer than we imagine.
Sorry to give you a headache Suzan, but sometimes the truth hurts.
MRM Price at posting:
40.5¢ Sentiment: Sell Disclosure: Not Held
