catching a falling knife - i don't think so?

mel is still in a large downtrend and i have increased my holdings by 30% today, making it my second biggest investment after bhp. i can't believe this company's current sp especially with the renewed focus on energy at the moment as a result of the horrors in Japan, and the nsw election result. i realise there have been negative sentiments in the media regarding the qld gas sector over possible water table problems, and the gasland movie etc, but nothing fundamentally has changed with mel. this company was valued at over a $1.00 not that long ago, and although things are taking their time they have certainly not gone backwards. apparent lack of water in their wells and the ever improving proven size of their resource surely warrants a sp greater than when i first invested in 2009 at 33c (during the gfc). hopefully the new md can get things moving and i will be patting myself on the back in the future for continuing to believe. good luck to all holders.

holding- bhp, mel, lnc, prr, idl

wished i wasn't holding- isf