dhinh and Mower I appreciate very much your views on myer......i have a good sized short on myer as you may probably be aware....... it is currently heading into the red so I am in the process of deciding what to do.... normally I would cut my losses at this point for the reasons mower pointed out, but there are other considerations.....-
my brother and his wife were over for lunch today he is a wholesaler in a small way selling stationary and other products to the two dollar shops...... sales and delivery are done by himself...... so he is moving from shop to shop, shopping centre to shopping centre all around Melbourne, and also around a lot of the major country towns in Victoria ....... I don't think anybody would have a better take on retail in Victoria than he does - through his own sales, conversations with his customers and observations in general where ever he goes....and from him its "very quiet" and "getting quieter" with a a number of retailers struggling and going out of business....
His switched on wife who takes a very keen interest in the business world, and who also shops at myer, when I told her that I had shorted myer, said only - "I agree"......
so its resolved then if the price looks like moving up tomorrow morning I think I will lighten only and place short bids in at higher levels... I don't think Solomon lew is go any where near myer in this retail climate not until its on its knees at least, he will be too busy counting his money.
goodnight all - hope we all had a happy weekend.
incidentally it rained very heavily for a good bit of the match between the bulldogs and geelong this afternoon - in fact you could say it rained "cats and dogs" .... boom boom .
