A couple of ELs posts a few months ago. But now cooper is a dog...

A couple of ELs posts a few months ago. But now cooper is a dog anad a sell at 33 cents. And he thought tonymonero was MR flip flop. HA!!!

EL 25TH JUNE 2008
One of the reasons I am comfortable moving into COE atm is that if the price oil falls sharply COE will will either relist as a cash box, or fail to fall, and in any event (aside from oil becoming worthless, or the directors giving the cash away) will be rising in the nearterm as production adds approx 3 cps net to cash each month.

This truly is one of the lunies of the ASX, proof positive of the absurdity of efficient market theories.

Anyway before the spring goes, I'd like to add another 6% but finding cash is getting harder.


EL AGAIN 25TH JUNE
Jojo,

I do not for one moment agree that bot selling is responsible for this sp. Imo this is probably buyers from the 65 cent placement cutting their losses with a vengence, perhaps they are even under margin pressure or just crystalising tax losses, and moving their cash to somewhere hotter.

I wasn't able to buy today, but got quite a few 43.5/44.5 past few days, and fortunately the relatively few above 50 quite diluted.

You can't destroy a cash backed stock like COE by driving the price down, as sp doesn't effect the underlying business, so imo best just to take the opportunity and buy more unless you see an even better bargain (or run out of cash like me). And it doesn't matter whether you are buying off a mindless bot, or off the chartist flock. I have to admit my few WSA largely dissapeared into funding more COE, and I have nothing more to sell atm, so many good stocks so hammered.

PATIENCE.