Vermillion Inc (VRML-Q)

No buy thesis. Hodge-podge of assets. Second-warmest winter in Europe, plus greedy Irish government imposed 75% windfall tax on them. Paying down debt, returning modest amount of capital to shareholders. Cheap, but quality of assets not good. He'd rather pay a premium for a name that has a catalyst.

Does not own shares in company.
Bearish on natural gas prices.
High windfall taxes in Ireland.
Better names in Canadian heavy oil producers.
Lots of debt being used to pay down debt.

Share price on downward trend with weak natural gas pricing in Europe.
Energy fundamentals strong.  
Wait to buy. 
Does not own shares in the company. 
Fundamentally, better names in the sector. 

Chart shows it was in a slowly dying down trend, and had a nice break out at the beginning of the year. It then pulled right back. Stocks can swing around a lot. No pension manager or large institution is going to trade a $2 stock. You are generally at the mercy of retail investors. Sees a weakening pattern and at best it looks neutral. If you made some money, he would consider moving on to greener pastures.