good buy, page-13

The fundamentals of this company within their market space in my view still has a lot of legs. I have been a follower of this share for about 9 months - after I saw a presentation by the CEO (who has now resigned). Clearly there are issues that is always the issue of fas growing companies - but none of their acquisitions was THAT big......they have a portfolio of companies servicing the mid market for all areas relating internet and digital based marketing. I forget the names of some of the acquisitions that occured in the US but there were serious multiples that were paid by Google and Yahoo for exactly waht BLU do.

I think at these levels they are ripe for takeover. the underlying market presence they have delivered in a short period of time makes it a worthwhile target itself (IMO). I bought in from 90c upwards and saw it hit $2.40. Luckily I sold before that peak - but unluckily I bought back in on the way down (at $1.20) becasue I believe in the company's positioning.

I think Richard Webb and the CFO were clearly pushed by the insto's who have invested heavily in the company. I think there will be plenty of blood-letting to come - re overhead reduction and a consolidation resulting in a return to profitability and sanity - but it may be too late - if a recession is on course in the US, US companies will look overseas for growth opportunities.

I have traded over the past day (and feeling like a vulture doing it) but believe the fundamental position will return and with it the share price. I hold (but cautiously) and will continue to trade the volatility.

In a word I'm still in and watching with interest any sniffing of a takeover.......

Please DYOR these are just my views.