Massive rises for stks in the engineering sector just keep on coming. In past week or so 25-90% gains made by: ASL MAH UGL AAX ANG BLY NMS NWH VMG and TSE. Even WOR has turned around and moving. This is not a fluke or lucky spurt. The mkt is keenly aware that this sector was indiscriminately oversold during Oct/Nov. Many exc results are only 5 weeks away from being dislosed. Likewise if the results/ann dissapoint.... the mkt hammers the SP. Look at LEI last 2 days.
BDL up 31% yesterday and 39% today. Forecast FY09 EPS of 3.4c. How could it not go up after plummetting to just 4.6c!! Plenty steam left yet in this SP. Has solid blue chip clients incl. BHP.
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