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I was hoping it would fall a little more this morning. It did and I ate some. Woops! A bit early!! Knifing for $3 by the look of it.
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It seems everytime i top up, MCE reaches a new low. needless to say i'm no longer greedy.
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I bought into MCE at $9, then sold at $7 thinking I may have bought it a little too high, took the loss and have been waiting the last few months to buy in at a much lower level. I think I may wait a little more...
Looks like MCE is in need of a Rodger rally...
Looks like MCE is in need of a Rodger rally...
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He shouldn't spruik it till it finishes collapsing. Will be more effective and I'd like to buy some more when it flattens. Then he can pump up it's tyres.
skc
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See this is what I don't get. RM has MCE as an "A1" business, I don't understand how such a company can, after one bad report, deteriorate to the stage that it "cannot currently be valued as a going concern any more confidently than I can a speculative exploration company."
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Ahh, but it's A2 now. 
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RM was backpedalling pretty fast today on his blog.
Was hesitant to even give it an IV.
He was spruiking it bigtime for the last few months.
He really went overboard and plenty on his blog bought at higher prices I imagine and are now bailing out.
Maybe when they have really depressed the price he will start talking it up again!
Big problem is the order book.
Unless MCE gets more forward orders it could get even uglier.
It is back to what I paid for it last year.
Still I think I will hold but I will be looking for some contract wins in the next few months to make myself sleep easier.
Was hesitant to even give it an IV.
He was spruiking it bigtime for the last few months.
He really went overboard and plenty on his blog bought at higher prices I imagine and are now bailing out.
Maybe when they have really depressed the price he will start talking it up again!
Big problem is the order book.
Unless MCE gets more forward orders it could get even uglier.
It is back to what I paid for it last year.
Still I think I will hold but I will be looking for some contract wins in the next few months to make myself sleep easier.
tinhat
Pocket Calculator Operator
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ouch!
Could not resist buying more @ $4.20 today - had to sell something I did not want to sell but I could not let that price go past.
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I hope you feel as good about it tomorrow night!
skc
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Could not resist buying more @ $4.20 today - had to sell something I did not want to sell but I could not let that price go past.
You were able to recognise the ZGL entry mistake quite quickly and exit with minimal damage.
Why not be similarly ruthless with MCE?
have you consider its high fix cost, and heavy capex?
in good time you rack in because high revenues gloss over its cost...
but in bad times it can have devastating consequences.
Not talking down MCE just something to consider
Good points there ROE, I like you normally prefer businsess with low fix cost and low capex but I make a exception with MCE because of growth potentual.... Time will tell
Interesting article by Rudi from FNArena here
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=F7E7FCC4-BA2D-7851-51A2374E7AA25FA3
JP Morgan have upgraded price target for MCE to $5.43
I think MCE is worth at least 25% more than this - if 20% revenue growth is achieved.
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Yeah but wouldn't it's positive prospects depend on reliable management who have now miss lead the market and Roger Montgomery.
McCoy Pauley
Get out of here Budweiser!
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Montgomery claims he was misled by MCE's management, but cashflow issues were raised at the time the first half report was released.
Investing in any engineering service company is taking (hopefully an educated) bet on their capacity to tender successfully for contracts. MCE is no different. Either you speculate on their ability to win new orders to increase their order book and realise the 20% increase in revenues predicted in the full year report, or you wait on the sidelines and be prepared to sacrifice some gains on the back of contract announcements during the next year.
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I wouldn't be buying anymore until I saw some contract wins.
I think that their 20 percent increase in revenue prediction is dicey. That means that they need another 110 million dollars worth of orders that they currently don't have.
And if they dont get them the share price will really tank.
