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ABC doing well too (don't hold). More building materials in,...

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22/05/19

10:16

Post #: 38683792
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Originally posted by imback ↑

I've been reading a few long short funds commentaries recently. They are still expecting further downgrades in building industry related stocks. So some have taken new short positions. I think what has happened since Saturday (unexpected business friendly govt elected, no change to negative gearing or CGT, 2 interest rate cuts all but guaranteed in next 3 months, APRA easing home loan restrictions) will pretty much end the housing slump. I think those shorts are screwed.

BIN confirmed guidance recently, so not expecting any surprise announcements in June. There were some huge volume days soaked up on the big short days, so there certainly are instos taking the long side. Some of those long short funds have been performing so badly, I think this will be another one of miscalculations. Have a read of ALF's last monthly report.

I wouldn't be surprised if this pops very quickly, if the shorts decide to back out early. Look what happened to the banks. The building stocks are next down the line. Bora and CSR have already popped around 6-7%.

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ABC doing well too (don't hold). More building materials in, more garbage out. If the shorts want to play with fire, let them.

BIN Price at posting: $1.91 Sentiment: None Disclosure: Held
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