Prophet I believe Qantas will go down over the next month, and I want to short them soon. I'm waiting for a few good days to bring it somewhere within about 25c of its $4.29 high if I can get that. On this one I only believe that the company will have a brief correction period unlike those in the list that I wrote out. The reason I believe this is because they are a sound profiting company and they have a reasonably low PE ratio as it is. However ... on the 17th of Feb they are expected to have a lesser profit for the quarter (definitely not factored into share price). No analysts are recommending Qantas as a buy at the moment, with 2 recommending them as a sell. Also, the lucrative Australia to US route worth 20% of NPAT to Qantas will be opened to Singapore and other competitors sometime within the next 6 weeks by the Federal govt. Aside from that, their could be higher oil prices if tensions escalate with Iran. The share price has had an unabated run without a correction and these factors will push the price down momentarily ... just got to wait for a higher entry point.
Let me stress that this is all my opinion and all others who read this, do your own research because I'm not a financial planner.
