These are always thankless predictions - as ppl always remember...

These are always thankless predictions - as ppl always remember the mistakes. I quite like the ABS business, and would probably have bought in at $4, except that its cancerous expansion continues to really hit ROE. That said at 1.20odd today it was a no brainer and I only sold out as it reached toward a crazy 2.40. It is a company I can see returning to the low $3 range in the next few months but imo it will fall below $2 before it gets there. There is still bad news to come here although there are no AFG/CNP like debt repayment triggers: For one I imagine we will see a few directors face margin calls and over the next few days will see fillings. Hedge fund shorting will probably continue in the current market and I expect more noise about the sustainability of its growth forecasts. A number of analysts have already questioned the 15% EPSG target and are especially sceptical as ABS is relying on very, very 2H geared earnings.

Personally I can see it up from its $2.10 close by the end of the week but I also think there will be an opportunity to purchase it more cheaply. No doubt if I am wrong I will be hammered but you asked for opinions and that is mine.