to go back in the water. Dow down 3%. I do expect that to have an impact today. Call me psychic... Did anyone notice those long blacks yesterday on the candlestick?
Hopefully, we will see some more buying opportunities as the price re-tests it lows over the next few days. Buyers will probably be scarce today due to the fall on the DOW. The plan is to be patient, pick up on lows and have good stops in place. Phil seemed to be indicating that profits might take a hit and not reach 750m forecast.... Next FY performance all comes in the last half anyway, so my feeling is that there is no rush to get in. Once the market has priced in the bank review and/or the official announcement comes out, I can't see too many opportunities for a good bounce north. Sale of wind assets etc might provide some boost to sp on the occasion. The stock still presents good trading opps, no need to get set for the long term hold just yet.
BNB
babcock & brown limited
