good buying. I was the 50,000 at .455 buyer today ... had that order sitting there for a few days hoping to pick up some more and make my average price .42. Reasons to buy Globe (that have nothing to do with any whispers about a profit upgrade in coming weeks)?
1. Directors have all topped up on any weakness in the past three weeks, always a good sign.
2. Price has consolidated well above .42, so downside minimal.
3. Last time it moved it raced to an intraday high of .58. It won't take much to get it back there again.
4. Billabong/Quiksilver have both indicated the overal market for the product is improving. Christmas $$ flowing in.
5. Globe oversold from the company's previous debacles, and won't take too much good news for the company to be re-rated.
6. It's a household brand name that teenage kids love to buy.always buy
7. Given all of the above that upgraded profit whisper could just be true!
On the downside, the high Aussie dollar will have some impact on profits and further interest rate rises could yet put dampner on discretionary spending.
Views anyone?
GLB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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