Amazing how fickle market is ATM - quick to pick up on whatever bit of good news it can get hold of (ie, low inflation numbers) - and ignorant of the underlying trend information.
Will be interesting to see how quickly it is to pick up on the underlying good signs when they start emerging down the track pointing to a recovery: whenever that is.
Will be further interesting to see whether company is still able to pull off a corporate transaction in this market. Will be a very strong achievement if they are. If so, that may provide the cash lifeline to sustain company through what could be a long haul.
I, for one, tend to think that most corporate activity may well be shelved going forward, even though it is likely to be on the minds of some ATM. The environment is very fluid and likely to evolve rapidly on the downside.
BUSH
UMC Price at posting:
76.5¢ Sentiment: Hold Disclosure: Held
