Oh how I hope you are right, Podfruit. :-) I hold 60,000 of the rotten things.
Mind you, they did win back some of my affection by upholding a fat, fully franked dividend, putting themselves on that nice double digit yield.
If they do surge back to $3, which I grant you is looking a lot more likely now than a few weeks ago, all will be forgiven.
I think a realistic hope is that they can trade over $2.50 by mid November and hit $2.70 by the end of the year. Then at least I'd feel a whole lot better about my last 'average down' at $2.47 just before the market fell out of bed.
The danger is obviously general market skittishness and the possibility of worldwide recession, but if Australia can muddle through the next year or so without imploding then surely rumours of Myers death will prove to have been exaggerated.
MYR Price at posting:
$2.26 Sentiment: LT Buy Disclosure: Held
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