Its Saturday morning and I sit back reflecting on my current investment in MEO which is some 40% underwater*. All my other oilers are going north and MEO has been doing the complete opposite! Yet, I am more comfortable with MEO than any other company I own.
BEL may keep selling at ridiculous prices, but there is just way to much news flow in the next 60 days. I can't help but feel we are at the bottom.
* I originally had a much larger holding at 21c and sold at 36c. I repurchased about half of that holding at 32c and have been giving gains back ever since.
MEO Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
