djs chart, page-23

Thanks for looking at the monthly, it confirms my thinking.
on the other hand the forward p/e with a forecast of 22 cents eps is 10 which still high for a bargin. So the real question is what is the value of the ongoing business and cashflow after taking away the buildings.
this valuation should include a rental value corresponding to replacement of owner owned buildings
this calculation would see an even lower eps which implies a higher p/e.
p/e of 11 plus at the beginning of the renewnel process not such a value proposition still with the new finacial services arrangement coming in 2014.
to conclude todays chart in my opinion is more short coverings in a very sophicated manner rather than value investors accumulation big time. in other words good for a trade(taking in account one's risk reward ratio) rather than investing in the business, however there are smarter people than myself so who know's! anyway redbacka comment interesting to follow would not disagree.
cheers