Tell me why would Centro wanted to sell their assets during Feb/March 2008 when equity market was in crisis with Bear Stern in collapsed. Centro knew that it has its bankers on the neck, first of all you would want to get the extension and than sell the assets when the market is more stable so you get more value for your assets. To me it is a good strategic move, Centro would get more value for its assets when selling in market which is more stabilise. To me Centro over the last few months been getting interested parties in their assets before the formalization of assets sale which is what we hearing now after the extension.
Look! I don't believe in McHugh with a "Hindenburg Omen observation" predicting another bloodbath in the market, what I see is a gradual sell off during the July in DJIA when the major financial banks in US showing more losses for their Q2 reporting season. I don’t see a further drop in SP for Centro which is at its lowest nadir of 0.225-0.26, it is way oversold and risks vs benefits as time progress definitely getting less. Just look at the chart a bullish hammer with a white candle that almost look like a shooting star follow by a bad Thursday however with the SP still close in white candle, 0.01 below the previous trading day. It has broken the downward trend of a descending wadge.
I’m still accumulating at SP b/w 0.23-0.28.
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