I still maintain my downward view on GBG. It's not going to recover in near term, even with these expect annoucements. People say 1 is the support level, but I see it as resistance level in 3 months time.
Today's annoucemet looks positive at surface, but when you think about it, it's actully telling us they are going to delay production into 2010 or later. I bet some day down the road, there will be another annoucement telling us there is a delay on the major lead items from the supplier - Thyssen Krupps. Then, we are going to delay for another 12 months.
GBG Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held
