pbmd nasdaq 19 april, page-5

ESP

my current thoughts are we could see a dip below Aus parity, further sending the local market stupid, before we see a whiplash with PBMD surprising strongly into earlier speculation of well above 30 cents Oz -- I just don't think creating these US markets is straight forward, or indeed conducted as a gentlmen's game, but is instead rather ruthless and unforgiving on the front end of the journey -- and as has been said here ad nauseum, MR is hitting the road for presentations (and giving away free lunches and I expect free beers) across the US Funds landscape, and those guys take our goods a lot more seriously than we do as a country, especially with their deeper pockets -- so I'm in the 'sit tight' camp, and wait for next week or shortly after for some real giddyup cowboy stuff with the PBMD SP



good luck