Mart Resources Inc MAUXF

I made a boo boo.....

[dbeaude]

I thought I learned to never chase a stock. Well I did it again. Six months ago I was posting on the Ithaca board that I would not own Mart because of where they are located and the crazies in Nigeria stealing all of the oil and also because they should not have initiated a dividend at this stage in the company. Well I sucked myself in through discussions with folks that it was going to continue its ascent. Well my purchase at $1.98 (average price $1.91) shows that when a stock is being hyped and has ascended like Mart you are setting yourself up for a disappointment particularly when one knows that it is operating in a horrific environment. I knew as soon as the LOC was announced it was because of concerns and back stopping of the dividend that they got themselves into. They should have used the large some of money being dividended out for development until such a time as the production delivery systems were reliable and safe. Well some times it takes a double lesson for it to sink in not to go against your investment thesis and also not do chase stocks. Hopefully once their pipeline is completed some confidence should return to the stock and lift the price back up over $2. Over and Out!