I think banners is still a good company, otherwise I wouldnt...

I think banners is still a good company, otherwise I wouldnt still be sniffing around despite not holding any.

When looking @ BMN, I am cognisant that the global markets are not the same as they were at the start of the year, and that at this point the U market is very very soft. Yes fundamentally it *should* end up ok, but at the moment its not.

Reality is if we're not in GFC like conditions now, we are coming close to a GFC like precipise. I dont want to be holding anything volatile if we fall in. I am waiting for GFC style opportunities before getting back in the market as a whole.

Those comments around suggested it would be a good time to sell had nothing to do with the extremely long term success probability of the company and more to do with the current trading climate and price action.

The reason I was downbeat in those posts is because historically Bannerman has a very high statistical probability of (significant) retrace when it bounces above 10% in a given days trading. Something like 70-80% last time I did the numbers (which admittedly was a while ago). In the face of those sort of stats its a brave man who holds on when you could take easy 25-30% profits.

The last few days action have proven that to be true yet again.

Basically the jump on SDL news was overcooked IMO.

Hope that makes sense.