Yesterday was a withdrawl of risk apetite, triggered by Greece, but not confined to it. To trivialise the implications could be very costly,or at least cary opportunity cost (in the event of a coming fire sale season).
Any investment requiring an apetite for risk will be affected, eg CUE at current levels loftily above what is supported by producing assets alone.
I won't be selling any, but it is a time for caution. We saw only two years ago how badly and quickly deleveraging can get absurd. Worth imho keeping some powder dry for the coming bargain bins, whether CUE ends in one or not (I suspect not ahead of the drilling).
Just my opinion.
EL
EL
CUE Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
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