ive posted my concerns about the US: AUD issue but as we may very likely get a correction in the US - and i dont mean a pullback, more like a test of the march lows on another MAJOR internatoinal issue like "we actually havent solved any of the debt problems" then there may be a short term flight to "quality" ie $US and away from the speccies/ carry trade, the only problem is that the collapse of the $US is inevitable (printing of US$13 trillion tends to devalue a currency) so we just have to hope that they occur in the right order.
I sold 1/3 of my shares @ $1.17 on the back of this companies incompetent handling of the current cash holding, they did not seem to learn a thing from the previous disaster, and the new CEO was supposed to come from a trading background so i thought he might be on the ball - afraid not.
any move to 1.50 and ill get out of another 30%, then hold the balance for the long term in case a miracle happens.
be very carefull of the latest resurgence in the markets, they are primed by easy money finding a home, when that stops last March will be repeated.
good luck all DYOR
OZL Price at posting:
$12.55 Sentiment: Hold Disclosure: Held
