any idea why sp is going south?, page-10

Hi Alpha,

Some interesting support levels there. I would have placed support in the 14-15 range. Hence why I bought last week in the 15-16 range (bought some more on Friday).

5 interesting points to make from a fundamentalist perspective:
1.
The Directors have been broadly buying shares since CLB listed, including the Chairman, Greg Bundy (former head Merrill Lynch) who has bought >1.0M on-market;
2.
CSFB has increased its advertising forecast for 2005 (First Edition 20/12) by 1.7% above its previous forecast - to $9.8B - with the outdoor segment, of which CLB forms part, slated for higher growth;
3.
the CSFB forecast is above the Starcom estimate of $9.5B for 2005;
4.
overall advertising expenditure is estimated to increase in 2005 by between 4.6% (Starcom) and 8% (CSFB-20/12);
5.
The Vis-E Max innovation patent was revoked by the Patents Office in September, with Vis-E max having 6 months in which to overcome the objections (of which there were 6) otherwise the patent would lapse altogether. The subsequent actions by CLB appears to have been designed to bring this to a head and to ensure that Vis-E Max cannot overcome the objections cited by the Patents Office. More likely, a matter of tactics and strategy to ensure retention of first mover status and ability to finalise upcoming contracts (etc).