BOQ below 8 is pretty amazing, and if someone had genuinely suggested this SP a few months ago, I would have said they "were dreamin' ". But then again, I no longer say that because Mrs Market often makes such dreams come true.
BOQ NAV is around 7.20, according to their last FY report published in October (excluding intangibles), and after the recent CR. This makes it very compelling value, assuming earnings are not rapidly going down the gurgler.
So, is it truly a great bargain, or a value trap. Hmmmmm. I am thinking the former. And yes, a TO @ 11 would be just dandy!
Have been watching the BOQ shorts carefully. Large % of capital have been shorted over the last few days. Problem is, as discussed in the BOQ thread, we only have the non aggregated shorts over the last four days, so we can not tell if net shorts are decreasing. But, FWIW, the non aggregated shorts (as a percentage of capital and remember over 0.5% is said to be heavily shorted) have been for the last for days approx. 1.2%, approx. 1.2%, approx. 1.1% and 0.13% yesterday, respectively. Today, shortman reports a drop of 1.84% in net short position on the 26th of November.
https://www.shortman.com.au/stock?q=BOQ
That was the first day of the current slide. So, I am starting to think shorts are covering, but will need to see the results published tomorrow to see if this true. I am starting to think I need to buy some more. Do I wait and see if it drops more, or do I just go all in and go to sleep for a few months and come back in March. Remember
https://www.shortman.com.au/seasonality?q=BOQ
I will keep pondering, and probably miss out. If it hits around 7.50 though, I don't think I will be able to resist.....
Still would like some ALX (its like TCL mini-me!!) as it "completes me".
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