whats been going on with int?, page-70

Albuera

Really enjoying this again, you need to comment more.

Today was a generally bad day on the market for me. I just played a bad game (Not trading but rebalancing more) Got everything wrong those I wanted to reduce I let go too low and those I upped I paid too much and wasn't patient enough. I must remember to ignore this tax year end process as it sometimes costs more to try to be opportunistic in ones behaviour.

Whats this to do with INT?

Interestingly enough it was a debate about another company that according to its data has turned the corner yet it is showing unbelievable weakness at the moment. I then looked at another share - they are making money yet today is virtually a 52 week low. Even lower than march 2009.

What is the similarity between some of these stocks. I broadly looked at them and realised the following:

1. All had had a run up last year for very different reasons. One of the three (Int being one of the two )had had a few broker presentations and had a buy recommendation at one stage. This buy is now a hold.

2. None of the three had reduced profits or not substantially reduced the losses they incurred. All three are supposed to be in profit this quarter and into the future.

3. All three have in fact invested in a new technology or new business model.

4. All three would be substantially under valued if they deliver even the profits they have projected.

5. The management have not published anything negative about the companies in the past 6 months to a year. Nor has anything been perceived as being a negative statement from a market point of view.

So why have they dropped more than most since the uptick. That is they have all lost at least 25% plus since roughly December or January this year and the current sp is virtually a 52 week low.

After thinking about it for some time and finally it came to me - Is it logical that all 3 are somehow failing but shareholders dont know it. All had info in the past 6 weeks that indicated all was on track.

In reality IMO nothing these companies can say or do will get them a re rating at the moment. The investors are fishing only in a pool of risk aversion. They are not interested in companies that are not sizeable or haven't got the runs on the board. The speculative part of investors portfolios are tightening up and some of the Chartist type investors are on the sidelines awaiting direction.

No-one is going to lead this process, the deep investigative type investor should win the day when sanity returns. The reality is IMO not to keep increasing exposure but to be happy with what you have and the price you paid for them. Remember Mljet's comment - "The market can be irrational for longer than you can remain solvent" The game is not to average down - you will run the risk of increasing your exposure to the stock until you cannot afford to take the loss so you twitch every time the sp wobbles.

Many then get frightened out of the stock only to watch it achieve its objectives in the coming years.

I have decided that there is nothing wrong with any of these companies and until they put out a bad announcement I will not just sell because the herd is running in one direction. The herd seems to regularly be wrong.