well i tried catching a falling knife (at 5.04) and got cut. What a catostrophic day for DOW! I see 2 additional factors (not already mentioned in thread) that are driving this SP to hell in a hand basket. Firstly, there must be a question mark whether the 3Billion FMG contract will go-ahead. FMG not flush with cash and they may postpone this monster undertaking. Secondly, DOW now certain to be booted from ASX100. Many funds are restricted to stks within ASX100 so they are bailing out knowing the inevitable is not far away. But being in ASX100 doesn't reflect on company's financials and if anything it provides opportunity for retail investor. Anyway, i wrote to UGL today suggesting they buy this sucker and form an Aussie giant that will dominate rail contracts for years to come. They thanked me for my email.
DOW Price at posting:
$4.42 Sentiment: None Disclosure: Held
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