I have to sell down my PBG holding as I couldn't afford to hold on to half a million of them, that is, if I subscribe to the rights issue and also keep my existing holding. By selling down my existing holding, I am having a free ride.However, I do not look upon it as a free ride. PBG has to justified itself for me to hold on to them.This is hard earned money for me.The chart is still looking good, if anything I think, it is breaking out soon as the Bollinger Bands are tightening which is a signal for break out.I can assure you I still have a fairly big holding of PBG. Don't forget I stuck on and bought more when drummnutt bailed out at 37c.Currently I am still comfortable with PBG. I agree with mangels, something is on with PBG, the way it held up. PBG has been taken out twice by private equity. I won't be surprise if it is taken over a third time. Like mangels, I used to work in the rag trade. Those days, I would have gladly own a company or have brands that are being held on by PBG.I note CBA has become a substantial shareholder of PBG again. It must have sold down part of its shareholding to subscribe to the rights.So I am not the only one, institutions are also doing it. The fact that the shareprice of PBG is holding up, many institutions have been caught short on this one, and is now playing catch up.DYOR before you trade PBG, better still consult your own financial adviser.
PBG Price at posting:
79.5¢ Sentiment: Hold Disclosure: Held
