It's a bit weird if the rises are China stimulus related.
I lived in China for years and speak the language fluently. Wine is very expensive, and the preserve of the wealthy and the corrupt. The economy is looking terrible there and the stimulus package announced yesterday is unlikely to be affected very much since salaries have fallen by 30% and a lot of the conspicuous displays of wealth have fallen by the wayside, along with the government dinners and their expensive wines. Wine consumption there is going down, and most of what is sold is the cheap stuff.
Having said that over last week or so TWE shares were on sale, and I loaded up big time on them. With the big move today, the stock is not on sale anymore and looks pretty fairly priced. I sold out late in the day, guessing that October will start sometime next week (Tuesday is my sage prediction)...
TWE Price at posting:
$11.97 Sentiment: Hold Disclosure: Not Held
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