Ockers, you are best to be a seller. As you noted, on 10 January...

Ockers, you are best to be a seller. As you noted, on 10 January they said that they were going to report a 'great' profit. The share price since that announcement has moved from $3.68 to its current price of just over $3. The market doesn't care what they say.

Presumably, also, the current price of $3 already factors in the 45c dividend they have previously committed to - which will only see it move into the mid to low $2's by March with everything remaining the same: (1) the market doesn't believe that they can pull it off; too many unknowns like institutional funding lines being constrained or pulled in; increased funding costs; increased bad debts etc; redemptions etc etc and (2) if anything at all has changed between 10 Jan and 21 Feb (when they report), the stock will be shorted into the history books. Guaranteed.

The whole idea of continuing to look at MFS assets is just plane insanity. All that they will do is take on the risks and liabilities of their Premium Income Fund! Ridiculous.

Kacy, I agree that it is not on most margin lender's lists, but you can short with CMC and Macquarie Prime. It will simply be a trade following the hedge funds, because you can bet that they have their lines of stock ready to short it significantly when they announce results. Even if results are better than expected. It won't matter. Directors are margined in. Its a disaster waiting to happen.

CBA have increased provisions for bad debts; mortgage market slowing; interest rates going up; Allco's lenders have sent in the 'turnaround' specialists... the writing is on the wall.

The only thing that could save this thing is if the market rallies to the moon before they report. Its not going to happen.

Just my personal opinion.