Good morning HLL, thanks for your update ! and nice recovery on the DOW, seems market wants to go higher with the VIX at its lowest level in a while.
For those holding/trading/watching BBG...........
Someone sent me this article from yesterday, is this one of the catalyst for yesterday's recovery ??? in particular read last paragraph (what the ???)
"Privatisation on cards for Billabong
Nick Nichols, business editor | December 21st, 2011
BILLABONG'S largest shareholder, Gordon Merchant his fortune smashed after a two-day share price rout may be primed to privatise the company he founded 40 years ago.
This is one scenario suggested by a major institutional analyst as part of a looming restructure of the surfwear giant which endured another stockmarket thumping yesterday.
Billabong's shares fell 26 to $1.77, marking a 51 per cent rout in Billabong's value in just two days.
Macquarie Research analyst Greg Dring yesterday declared Billabong "could be for sale" due to its massive drop in value.
He said a takeover could come from the likes of Nike or a private equity investor who would take a cornerstone stake in the company. He still rated Billabong to "outperform" and suggests a takeover price of between $3.02 and $6.52."
daytrading dec 22 pre-market, page-2
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