I wouldn't say I have strong thoughts on it... since the book...

I wouldn't say I have strong thoughts on it... since the book build when the market didn't like the heavily discounted shares on offer this stock has been trending very nicely between 22.90 and resistance at around 25 I have traded these waves with great success. Fundamentally I think it is strong although some of the management decisions have been a bit of a worry ie: why would you offer a stock that was trading arround $30 at such a great discount (I think it was around about 22.50)to shareholders. 70% of shareholders took up the offer - no wonder. I do have it in my long term portfolio and bought some more at 22.80 hoping to catch the wave again. Although in saying that I hope I havn't jinxed it. Also there is a news item on it today in the australian..

Orica looks to tap into explosion in production

Abstracted from The Australian
TOP News


Australian-listed chemicals manufacturer Orica is positioning itself to take advantage of a predicted increase in exploration activity. Resources groups are forecast to expand in that area to compensate for lower price growth for commodities, and Orica CEO Graeme Liebelt says its recent acquisitions and diversification into mining-related segments other than explosives will be paying off in the new environment. He also notes ammonium nitrate production will become more lucrative due to supply shortages globally. Orica is investing in Peru and has reaffirmed its forecast of a likely rise in profit for 2008-09

Distributed by News Bites. Copyright 2008 LexisNexis Australia. All Rights Reserv