dont shoot the messenger

As much as the company appears to be setting itself up for a fantastic future, there could be some weakness in the short term, especially next week after the DOW has just fallen by 315 points.

The profit for the half year fell well short of patersons expectations of $4.6m, and while they have maintained their speculative buy recommendation, they have reduced their price target from $1.26 down to 89 cents. The delays are really hurting at the moment, and I guess the question is being asked, if delays have hurt their first half profit so badly, how do we know it will not happen again in the second half.

They really need to get these vessels, as it was delays with vessels that have caused the majority of their problems by the looks of it.

For anyone that can spare the money, the next couple of months may represent a fantastic opportunity to top up on holdings, which I am hoping to be able to do as well. We may need a further update on how the second half is going at some stage, though, before there is any significant recovery.

Finally, you gotta wonder..... All that selling over the last couple of months, makes you wonder just who knew about these delays doesn't it.

Long term still an absolute winner. Short term could be a little bumpy IMO. I will be happy to be wrong about the short term though.