the sky has not fallen yet, page-5

Hi Tony,

I understand your theory about announcing something bad and then overdelivering however I been watching and reporting the short position on BNB for a while.... you may get a rise sure but not to the extent that will cover investor losses this week......I cant see a 50% bounce in the stock from 4.45 to 7.03 (monday before the ann) anytime soon...not unless they come out and say, opps we got it wrong again, we forgot to carry the 7 and we actaully only took a 5% hit on profit....and this may not work either as investors may say, managment has no idea about their own numbers......time will tell

Further, if it was the management idea that this announcement would set up a "short burn" they are fools as the reported short positions had actually been decreasing significantly, all the announcment did is invite them back in....along with the covered short traders.....an get the supporters and longs to question or sell their holdings....

The only justice to the supporters this week is that the Senior Managment /Directors cannot sell suring a blackout period,,,,,,,and if they (investors) got burnt again, then managment must also take some on some serious injury


Consider what the announcement has done in 5 DAYS
Employees own 40%, assume no sales or unable to sell,
330,300,220 shares on issue
Employee shares total 132,120,088 (40%)_
Value wiped by the market since shock announcment of $2.58
Losses on paper for employees in 5 days $340 Million

Losses for Mr Green for if he owns 12% and has not sold as per the law $102M....that sounds fair to me

Personally I hope that something is done soon to save the second biggest investment bank in Australia as we need them in the market...as you say time will tell