CUS finished at $1.75 today. In regards to the "dead cat bounce "pattern it's behaving perfectly. My money is on another final leg down to the $1.55 - $1.60 mark and at this point it should find support. Support will need to be tested a number of times. ie. double bottom, as it consolidates....could take 6 to 8 weeks. Once the bottom is found it's then a matter of taking a position and waiting. I'm calling this as a medium term trade ie. 6 months $1.60 to $2.20 with some divvy's along the way.
Longer term there is the ATM pokie legislation and the removal of ATM machines in all gaming venues in VIC in 2012.
Anyway could be 40% in it + 20 cents in divvys. Not the 140% to 300% I got with the previous CUS trades but you don't get that lucky that often.
Watch this space as we try to find the bottom !
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