what a rollercoster. Aren't the events of the last fortnight cause for some great re-evaluations. Now one would say:
1) HNC got a good price for 6 million shares at $4.10 2) The shorters have made a killing. That didnt have a death wish - they were smart or knew something we didnt. 3) that bloke from that small time brokerage quoted in the Herald Sun was spot on the money. Well not really but I wish I sold at his sell price and picked up again yesterday at 3.34. 4) GT remuneration package now looks challenging! He has to get it back to 5.04 and outperform others before he is back in the money with those (what appeared to be low ball) options. 5) Stay clear of margin loans or leverage them low ( bloody low). Selling to meet margin calls must be playing some part in what is going on here.
If it wasnt for the HNC deal, CMR would be a real takeover target for the cashed up big boys. What a bargin! Unless I am missing something, the fundamentals of CMR ain't changed a bit in the last fortnight.
Oh, sorry - apparently the chinese wont have as big a demand for lead going forward. They just found out you aint supposed to use lead in paints or magnet on kiddies toys.
Maybe I am mad but I have been buying this one, I cant believe has been pounded so hard. It has done worse than most and it was already seriously undervalued according to most analysts.
CMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
