did any of you predict nab's action, page-12

.....and I said when I was really drunk last night.....

"Everyone who bought AMP since the bungled NAB takeover attempt has been waiting for NAB to swoop, pushing the price up. Now the takeover premium will vanish, panic will issue momentarily as these speculators bail out. Leaving the beleagued Moms and Dads carrying the can while the vultures circle their staggering quarry.
Short the bugga!!!!"

...and on NAB.....

"A red letter day today, no doubt. Frank desperate to hold on, tries to pull a swifty, "Yes, we sold AMP for a profit, we had to sell a few other things to get us over the line, like mum's jewels and the empty bottles and cans out the back, but we made a profit, so, there's no harm done really, we never really wanted smelly ol' AMP anyway, doing better on the currency markets so the boys tell me." Anyway, what's 6% of our overall profit? Not that much really. If we sell this other stuff mum says I may keep my job. Its easy running a large multi-national corporation, it's the easiest $21,000 a day I've ever made."

I'm long, but not for long"


...so aint I a hero, funny thing, if Frank hadn't come out and said the things he said, I'd be underwater as the sector sank with CBA, ANZ and WBC slipping further.


A difference a day, (and a few announcements) makes


Tomorrow? My guess, more upside for NAB, maybe 31+ by Fri and AMP is going lower, poor buggas....

...most the time I'm wrong tho'....