Far too much angst about date of announcements. Its probaly the one thing that I think MS/CVI have done a little poorly. They were doing announcements fairly regularily around 8.30am and appear to have learned that if you are predictable, the market realises and trading is effected. In this case, no ann by open, none today so sell.
More recently the indication that ann's by specific dates then missed. Again, a sell off when it does not arrive, 'as promised'.
And in this case, it does not really matter if the comment was specifc or implied. Saying that you hope to have xyz signed off by x date is almost the same as saying xyz will be announced on x date. While a number of HC posters are excusing MS by examining the actual words on BRR in minute detail, with all due respect, its really splitting hairs to suggest that an implied ann date is different to an actual commitment to an ann.
MS/CVI need to learn that specific commitments open them up to far too much pressure and place the price under unrealistic expectation. They are much better of keepimng it simple and clean and commit to braoder time periods (eg, by the end of January, blah blah).
To those who buy/sell based on specifc date expectations, good luck as I would suggest that you have bigger ones than me or your just gambling. Either way I reckon your success rate will be 1 in 3 at best as there are simply too many risks/variables that go into hitting a specific date (eg, our fat swiss banker breaking his leg while skiing, not that this happend to my knowledge, it just amuses me as a thought, he probably fell out of the spar bath while relaxing with 3 or 4 leggy blondes from norway on a uni break at the snow).
To everyone else, ignore the dates, ignore the daily ramblings on HC, avoid the anxiety, look away, have a glass of red and relax. It will come when its time and when its ready. And even then, as discussed by a few last week, the price may or may not skyrocket on the ann. This one is a slower burn, longer term build. MS has already clearly said this as have many on HC including our much followed poster t4p.
If you are buying for a trade, well good luck to you. From my perspective I cant see why as there are plenty of others with sufficient volatility (FDL, MAK, CNP to name a few) to give you much better returns that 0.005 and 0.01 here and there on CVI. If you are looking to trade CVI, to me, all you are doing is funding E*Trade and Comsec and as t4p keeps point out, you are probably missing the broader moves up.
But hey, thats your business and good luck to you.
And good luck to all,
Cheers Gus :)
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
