daytrading nov 20 morning, page-53

out of LYC for now at 67c - was looking hairy on Friday with the relentess selling into the close at 55.5c...

still holding the BONG and will continue to do so, see how this takeover proposal plays out and the expected bid price. refer to article below, but this I found from Nomura -

"We note Billabong’s last indicative offer from TPG was pitched at about 8.6 times 12-month forward enterprise value-to-earnings before interest tax, depreciation and amortisation, including Billabong’s 48.5 per cent associate share in Nixon. Assuming a similar multiple range (eight-to-nine time), we derive a bid price for Billabong’s equity of $1.34 to $1.53 per share, based on our presumed 2013 financial year net debt of around $93 million.”

www.theaustralian.com.au/business/wall-street-journal/analysts-dissect-potential-bid-for-billabong/story-fnay3vxj-1226519795237