chartists thoughts on current price, page-22

Pauley,

Yeah, the sterling may become an issue, but probably counter-balanced with the $US.

I also think that the IAG confession about its UK business "Red-Star" has reverberated though to QBE, but the name of game is re-insurance. If you cover this well, these sorts of issues dont become problems.

QBE are number one at this, IAG continue to fumble this basic insurance fundamental. You only need to see that their re-insurance coverage is going to cost $60m more on a $200m portfolio (thats awful).

I'm astounded that analysts continue to rate IAG higher than QBE. I do rate their CEO - Wilkins, but the rest of their management are former NRMA management hacks that have had no real experience beyond the shores of a mutual.

As for the oil spill, BP may go after Transocean, but they were the operator and they had their own crew onboard, so that argument will die quickly in any courtroom.

I suppose they had to say anything to save their share price.

Good luck to all
P