I think you will get there, have checked my mailbox , I got the voting paper but not the rights notice. I think that the market may have spooked many in the past month. I cannot believe the uproar - I am a little shaken I suppose but in reality the Shanghai index was around 2500 on November 21 2014. Peaked on June 12 at 5166. after all the noise its over 3000 today and thats in less than a year so in fact its still 25% up. We were 5292 on same day in November last year and now 5105 today - Wow are we that different. I see headwinds but our currency has depreciated ...
I think it is a good price but I do think it will go into a period of consolidation - the audience is not yet large enough to absorb all the shares that will trade. I am not sure Bell Potter on their own will be enough. I would like the stock covered by at least another broker. UBS would be a good one. I think they cover LHC.
That's why I think it will get to your buy price and then consolidate over a period of say 4 months and start climbing into the interim results in February next year.
I am not a chartist however so cannot see the technical inflection points so I leave that to Caketin ...
I spoke to a medical friend a week ago and they believe that the medical spend cannot get stretched any further that it will have to have real growth as we age. They see a huge boost going into the next decade of expenses - Real growth and with a weak A$ they say it has to be a higher real cost.
They also said that we cannot buy cheaper as cheaper often requires more staff , we have to buy better technology solutions , less admin interface and more application implementation - stuff that makes it easier to record events and interact. Cost of admin is one of the last areas they can save in order to get more direct medical spend.
I think that PGC has the right blend and am much happier with the amount of consumables now - the WA acquisition looks like a good one for that base load.
Any way couple of bargains to hunt through.
PGC Price at posting:
62.0¢ Sentiment: None Disclosure: Held
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