Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
A few moments ago, upon checking my holdings, I saw that my Mesa Labs (MLAB) stock had plummeted and passed my (8)% loss limit. In fact, MLAB, as I write, is trading at $21.38/share, down $(3.37) or (13.62)% on the day. I sold 210 shares at $22.20 which were purchased 5/23/07 at a cost basis of $24.05. Thus, I had a loss of $(1.85) or (7.7)% on the purchase. Ironically, when I entered the sale order the stock had a greater than (8)% loss and by the time the order was filled it had rebounded a few cents to be sold just under this. Anyhow, that stock is now history and I shall be 'sitting on my hands' with the proceeds as the market corrects and my own portfolio tells me it isn't a good time to be buying anything!
Ironically, on August 13, 2007, MLAB reported solid 1st quarter results as far as I can tell. Sales climbed 17% to $4.3 million from $3.7 million and net income grew 28% to $1.01 million up from $790,000 or $.31/diluted share, up from $.25/diluted share last year.
In spite of the good earnings, in light of my own sale, I have reduced my rating on MLAB and
MESA LABORATORIES (MLAB) IS RATED A HOLD
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Updated: Tuesday, 14 August 2007 9:48 AM CDT