Friday, April 27, 2007

Mitcham Industries (MIND)

Although slightly bearish, I'm looking for some low-risk trades to the long side. Well today I jumped back into MIND. This is a company that leases seismic measurement equipment for the exploration of oil.

Remember, I traded this a while back for a nice little gain. Since then, MIND has bounced off a rising trendline and looks to be doing the same thing again. I would like to hold MIND until it gets back up to the $16.50 area. I will not give this much room to the downside because I believe that I just picked this up at the local bottom.

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