Yes, well said Sav...However, IMHO there is little to be gained...

Yes, well said Sav...

However, IMHO there is little to be gained taking a public contrarian stance on a particular stock.

Best just to sit back and observe, locking horns with stock holders does not pay the bills and is energy that could be better spent elsewhere.

The medium/long term share price of UMC is very much tied to Iron Ore pricing cycle IMHO.

General (rough) consensus is that the high in this cycle will occur ~2009 with price falls from there to at least 2012. Of course this can all change (never easy folks).

The attempt at creating an IO monopoly (of sorts) by BHP/RIO will very much affect this cycle (can't believe they have got it as far as they - should never happen in my view).

Markets run ahead of fundamentals, remember that...

When BHP/RIO start to ease production to protect Iron Ore pricing most minnows will be long dead and buried - I can assure you of that.

As I told Jim and Matt two years ago their biggest enemy is time. Which they acknowledged.

Jim actually anticipated the boom would end when the Chinese banking system went kaput... he was pretty close, except it turned out to be the US banking system!

This is not a comment on UMC per se - but the IO sector in general.

Cheers.