the usual board shenanegans = fat profits, page-3

re: rembrandt- are you expecting a ... hairy Hi Hairy ... I see mods pulled my original post and chart ... along with your question to me.

Someone it seems is very sensitive at the moment ... and perhaps they have reason to be. (my original post is still viewable from Search ... for the moment at least)

Cheech has it right in another thread ... "There are brokers, banks and other institutions that have reason to support if not deliberately aid in elevating AMP's share price to current levels. Much of this I believe is by way of adjustments rather than pure market sentiment."

A quick look at AMP 1H04 financials reveals (with adjustment for Market investment profit) a worse result compared with the corresponding 2003 half year numbers derived from 'ordinary business' ... (HHG losses not included)

Merrill Lynch valued AMP at $4.00 post HHG demerger and allowing for a $2.00 take-over premium it is hard to see any value above even say $7.00 ...

To answer your original question ... where to now ??

Our LONG entry point was 03/11/04 as AMP 'broke out' of trading range ... see AMP response (04/11/04) to ASX query regarding SP movement.

Most traders (including us) took profits yesterday.

This 'run' by AMP is not based on FA/TA so where it will end is anybody's guess ... although my guess is that "fundies" will support this important psychological $7.00 level.

Cheers ... tight stops.


This is only my view ... read the red stuff.