thoughts on csl

Hi all

Just my thoughts on why CSL is a good buy given the current environment... As disclosed previously i sold half my holdings as i had to buy a few things with the profits and also i thought it was an opportune time to take some profits off the table.

I beleive that CSL is fundamentally sound, and by fundamentally sound i mean:

a) Profit expectations remain the same as advised by CSL
representatives
b) USD gaining over AUD where about 37.6% of CSL revenue is
derived from.
c) EUR gaining over AUD where at least 16.4% (GER) of CSL
revenue is derived from.
c) Expectation/confirmation that BAX.US losing market share
was due to increase market share to competitors, much of
it may be assumed to be by CSL.
d) CSL and those businesses that sell the same products are
within an inelastic market for that product. People can
go without a new car, but people cant go without their
health.

then CSL is severely underpriced.

Australia's two major sectors; mining and banking, are plagued by risk, with Mining with the Super tax and Banking with the risk associated with the EUR. One could state that CSL is a stock within the Aus market that has no such risks and is a good defensive stock to place money in. Just look at the % drop in price to some of the major mining/banking stocks relative to CSL...

Also when the GFC occured have a look at the SP of CSL... then have a look at your major mining and banking stocks...
If the next dip is going to occur, which it might just do (never say never) then one has to be more diligent in risk management...

From a T/A perspective i would love your thoughts on this. I have it as undersold. Its below the 195/200 ema line but imo dont see it below that line for too long. Thoughts?

Cheers for taking the time to read it and any responses is mostly appreciated. :)

P