I'm getting increasingly bullish on Coles Myer. Looking at Today's weakness ($7.40), I've gone long in both stock and ETO's.
I had the opportunity to talk a couple of senior managers who have a lot of faith in the future of the company. They said John Fletcher has a hands on approach and has dismantled a lot of the excesses of the previous board. They expect the next couple of years to be very strong and are all eager to recapture market share that was being stripped away in the 90's. The embarressment of the Soloman Lew attacks on the board has focused them towards building the company and removing the massive amount of "fat" that dragged down the company.
Of course, they work for the company, so their views are biased and because I own the stock, my view is as well. (i.e. this is a ramp).
Cheers
CML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)