One of my "rejects" from my recent 11/15 MFI Select tranche took a 23% tumble today on their earnings. They announced ok numbers, but they admitted they need more in their project backlog. They did say the business is competitive.
Not sure if this is a buying opportunity. Seems like it is. If they just signed up a couple new deals, they would pop right back up. And I know some areas are aggressively looking at replacing coal plants with natural gas plants.
I will watch from afar, my next opportunity to buy AGX would be February, unless they drop so far they trigger a 2.4% dividend yield (and even then, they probably would not meet market cap requirement for my formula picks).
So that put a damper on my MFI Index (which tracks 50 MFI stocks from start of every year). The index is now up a dismal 4.2% on the year, looking way, way up at a 19% gain by Russell 3000. My two MFI portfolios are faring much better, Select is now up 35% and Formula is up 18%.
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