You will probably see a few panicked sellers but you will also see some opportunistic buyers.
Most people do their homework and some will realize that a few brokers have placed buy's on the stock.
Some will also see the rise in Property equities this week so it remains a medium risk buy.
The article in theAge today said that the CEO was one most experienced property and corporate accountants in Australia. I am sure he will do everything in his power to keep the company afloat.
Also Warnie metioned Friday night that they have the option of pulling cash from one their own trusts which they have mentioned in their own letters to the shareholders.
I think once all the bad publicity dies down that you will see business return to normal.
I am also predicting a 5-8% rise in the US&AUS stock markets due to the DOW being up this Saturday morning. So much so I changed my entire Super from interest bearing to 60/40 Aus/Intnl.
Anyway I hold at 1.22 in CNP we will see how the market reacts Monday.
P.S. Wish I had bought JB HiFi a year ago
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
