disappointing revenue but maintain rating

As a shareholder of the Australian Securities Exchange (ASX) and all the major brokerages, I was disappointed to see the drop in the trading volumes of CNP yesterday.

Having experienced several days of 100 mill plus volumes, I had made the following projections :

120,000,000 CNP shares traded per day
250 trading days per annum
10,000 shares per trade
$40 commission (combined between the buyer and seller).
Annual revenue = $120,000,000.

Considering that CNP delivered a $1 billion loss in 6 months to its shareholders, I cannot complain with the $120 million contribution which will help maintain the lifestyle I have become accustomed to.

Recoomendation : Despite the drop in trading revenue I maintain a rating of BUY *or* SELL (either one, I am not fussed) but for chrissakes, don't HOLD.


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