EWC was up 2.5c today on volume of 6.6m. We now have 1.2m on sale up to 30c. This volume could be taken out very quickly. So at 27.5c we are at a price that is just too low.
I'm waiting on Obama's plan to save the distressed mortgage market in America which will be announced on Wednesday night. If they can get it right and stabilize the real estate market in America then general market conditions should improve. I don't know when the LNG plant will be up and running but it will be this year sometime. Profits will be enormous with an eps of 30c - 40c, so the sp could be 10 to 15 times what it is now.
However I tend to be optimistic and with the world in trouble I may be underestimating the time it takes for the world's financial markets to recover. I hold for the good times ahead.
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