re: re:****explosive*********
I notice the ORI share buyback program only has about 1 mill shares to go ...as of Friday ...... it seems to me that a significant part of the volume in the last week has been comming from this ...... the market depth looks skinny ...yet most of the trades have been done at the top end of the spread .
How about a retracement to $12.00 ? -- thats quite possible ...... longer term ...who knows , but I agree the earnings sound ok.
Note als that when Malcolm Broomhead was the MD at "Norths" the stock was trading on a p/e of about 8 times ........the quality of the business and management was probably much better than at ORI . ORI has out posts everywhere ....and it wouldn't surprise me to see the USA investments ...as well as a few others overseas cause some trouble for futere projections ... and possibly be in the line up for some seriouse write downs down the track .
Having said all that ...... maybe $11.00
ORI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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