Some readers will know i am bearish re overall mkt for at least 6 weeks. I have posted re my shorts in RIO and WES on the relevent threads. I am also bearish the mining engineering sector in general EXCEPT for a few shares that have strong earnings and strong dividends. A few weeks ago i sold my IMD shares too early. Have been kicking myself as i know this company is leveraged to make substantial profit in 2HFY10 and i expect a 4.5c ffr final div in late august. I have watched the SP rise to 80c and thought it may fall. Hence, i placed 2 orders on Monday at 72.5c and 70c. Hence my delight to see both trigger at today's open of 70c. SP has already recovered and now at 74c as i write. Do i think IMD is foolproof? Not for a moment as loss of confidence in entire mkt will crunch even the best shares. But am willing to now sit on these and get the dividend stream i know is coming. BUY IMD on weakness IMO. dyor.
IMD Price at posting:
74.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)