I'm also reading your post.
You're quite right about OI 62% shooting below US$200. The limit range is 4% at the moment at DCE so I'll give you points for that. And it could keep going down.
it is quite hard to write-off OI companies. You have a sentiment of sell which is quite peculiar.
You might know this already but FX, Vol shipped, Capex and opex cost plays a huge role in company profits and then share price. At the moment, my models can model company profits from US$100 to $300. Each variable is a quad function on it own, so then I've to run Monte Carlo sims on R just to see if I'm on right path, so far I was and still am. These models show that appreciating AUD is not good. I thought USD would be on 100 DXY level, but we are not.
If we get to $140 then I can see some tremors, but until then it is still profits on profits.
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