turning up?, page-3

NOD has entered a 'blackout period', typical of a turnaround, in which the new management is probably assessing and enforcing the changes needed to its business processes to steer the ship around. 'Going dark' for a year or so is to be expected, as Mr Bourke rolls up his sleeves in earnest for the task ahead.

I expected a banking update to have been ratified by late September, so perhaps this is disappointing to traders that were expecting some sort of short term news flow. The AR is due soon however, so details should follow in that.

Don't be too worried by the volume, looks like it was mostly a 800k+ seller this morning who wanted out. Order volumes are thin on the immediate buy and sell level, indicating buyers are being cautious and nibbling at sell-downs, and sellers (mostly) are not willing dump in a panic just yet. No doubt a few smaller sellers will be alarmed at breakdown below 15c. I for one will wait for the AR for confirmation of material details.

Remember turnarounds take time. Confirmation in the affirmative or the negative for this company has not been decided, or will be for some time. Caveat emptor.