gsjb were recomm, page-7

astoria

I think GSJBW got it right .. the market became scarred that covenants would be breached and started selling. The general market and resources selloff didn't help, then the funds started distressed selling ... which looks to be close to done. BLY had EBITDA of US$223m and NPAT of US$112m in the first half and has issued guideance saying won't be too far off that second half as revenue has been higher so far and its only exchange rate issues that will bring the result down. Selloff is TOTALLY overdone!

Volume and selling pressure eased today so next week might see a bounce.

H