stupid, gullible, or both ;-)

Am I stupid or gullible?

We now have audited accounts. Presumably the auditors had a good look at the receivables as they are quite a material item - they signed the report without comment that it was true & fair & complied with Australian accounting standards - so unless management have completely pulled the wool over more than a few eyes that seems to de-risk NBS a little.

The sell off today was not technical (oh dear will I get in trouble with the chartists) it can only be some punters expected more of the Accounts Announcement & thought better opportunities elsewhere? Anyways there are still (lots of?) buyers lurking out there ready to buy on weakness - or so it seems.

As I keep saying if you say NBS is in speculative category - it looks pretty good stacked up against other speculative shares. Buyers & Holders probably need to have the strength of conviction to see how this plays out - surely matters should be clearer by at least the AGM which is presumably only 6 weeks away.

Even if NBS does not reach 18 cents p s this accounting year & tracks along at a much lower level it would not necessarily be a disaster depending on whatever other developments occur - I have lowered my expectations but always hope I will be surprised & will be getting that 9 cent dividend in 12 months time! ;-)