Good day overall for me as MFI was up about 0.5% (overall portfolio was up 1.5% as my non-MFI portfolio is trouncing MFI... must be lucky).
MGLN had another solid day, up about 5.5%, up about 25% in total. FTO was up about 5% and is up 23% in total. PNCL was down as airline stocks and the transportation indices continue to get pummelled.
I am starting to strongly believe that the best MFI approach is to follow a list of stocks that you are considering to buy and then be patient. Track them for one or two months and then when they get pounded (as seems to happen to all of them eventually) buy, buy, buy! Not that I am qualified in any way to give stock advice, but I'd be thinking about: DLX, LRW, ORCT, OVTI, PALM, PNCL, TGIS and ELOS.
I am continuing to gain on break even and the IWV. Just keep thinking up.
Late news *flash*: NSS (Nice) Reports Earnings (NS Group Reports Second Quarter 2006 Results). I was very pleased with what I read. They beat revenues with 192m vs 182m estimates. They beat EPS by 6 cents. The CEO said:
"We are very excited about growing the higher value added segments of our business. The recent addition of Ultra Premium Oilfield Services combined with the announced expansion of our capacity for manufacturing seamless tubular products and heat treating provides us with the foundation for profitable growth and industry-leading customer service. We now have the people and the assets to compete successfully in the rapidly changing North American drilling environment where challenging unconventional resource plays have become a substantial portion of total drilling activity"
I am not an MBA, but Value-Added Segments sounds positive. This is really a company firing on all cylinders. What burns me is stupid headlines, I have to wonder who writes these things. Here are three samples:
|•||NS Group 2Q Profit Falls|
|AP (Mon 6:17pm)|
|•||InPlay: NS Group beats by $0.06|
|Briefing.com (Mon 6:01pm)|
|•||NS Group Q2 earnings fall|
Now note that two of the three headlines are negative, "profit falls". How can this be? Well it is all in Uncle Sam and taxes. Last year, pre-tax income was $40.3m vs $51.6m q2-2006. But last year NSS just paid $3.1m while 2q-2006 taxes were above $19m. Remember though that all MFI calcs are pre-tax. So NSS will be even further up the MFI list with these figures. I am excited about their future earnings potential.