Compare UGL with the big miners and banks over the past month or so. They continue to move around but inevitably end up down each week/fortnight. The trend for them is clear.... and its down. UGL was waaay oversold mid november and again in early december. But since then the trend is up. To bounce so strongly today says a hellava lot. Don't sell this stk. It will continue to rise steadily (unless we have a world catastrophe)and then attract lots more admirers when 2Q result is announced. I still haven't printed extracts of long IV with UGL CEO. He has a history (and pride) of understating and then overdelivering. Feb 17th will be no exception. UGL has made no amendment to its thrice-repeated forecast of 10-20% growth. In Feb.... CBA followed by the other banks will all cut dividends. BHP barely pays a dividend and RIO??? UGL will increase their div in both Feb and August. Don't sell and watch this space. Safety is my main concern in this mkt. If i lacked confidence in UGL's ability to continue winning work i would bail-out in an instant. I def don't love the company. In fact i only started studying it about 8 months ago and then decided to buy 5 weeks ago. I am a cautious investor. To my thinking the UGL signs remain +ve.
UGL Price at posting:
$8.45 Sentiment: Buy Disclosure: Held
