unbelievable, page-2

Regretable...yes. Truly unbelievable...no.

This mornings forum was oozing with exactly all the same emotions with which CER shares were being traded... they launched out of the gates with the screams of excitement running frantically to catch up and then some felt lonely and began retreating. Others noted CNP advancing and and were critcal for having exchanged what would have been a profitable CNP position for this sliding CER position. And as it fell further the pace of change accelerated.

What was really disappointing in the forum this morning was no-one was asking why or making what I thought useful explanatory comments or suggestions.

In hindsight, it seemed to me that:
(a) there was a distinct period where people were cloing CER positions to take CNP positions. It's probable in my view that these will be unwound in due course.
(b) the day began with all the hysteria that only CNP/CER could seed. A thousand looking to exit ASAP having the living 'bjesus' scared out of them met by the thousand Murdocks chaffing at the bit to get that 30 cent price hike;
(c) the day mellowed after the fall suggesting that people were at a loss what was in fact the correct position. Trading literally stopped around noon. Not much happened after that.
(d) Of course the ANAlysts stepped up to the plate bleating all the wisdom ... of similar quantum and value that might be offered by a textured house brick... about how the world was ending and CER had found a box of bandaids for the amputation...blah blah blah. (Statistically, it has been shown that analysts predictions are right 40% of the time and they have the audacity to charge for it...)

I don't think any major players were involved in todays trades whatsoever. I suspect they were happy to stand back and sort it out Monday (or more likely Tuesday).

Day traders had a field day!

Will this announcement incite instos to riot? I doubt it but I do think that as and when a more mature base is formed then we will tend to get the push up but possibly not at the pace some of the forum punters would have us believe.

Lastly, there was quite a bit of banter about distribution policies and whilst I don't want to incite another 1000 one liners, the CEO mad some curious comments in the webcast suggesting for CER holders, all was not lost. I suspect as have many pundits on this forum that unlike CNP, CER distributions are not on the never never. I think the immediuate hurdle is the $128M Cebtro Shopping America Trust debt.

On balance an ordinary day for me. But the weekends arrived and thankfully, the press will pound the CER / CNP story to death drawing all sorts of parallels. God willing they will be articulate enough to delinieate CER and CNP because I personallythink CNP has more potent issues ahead than does CER.

Have a great weekend!

DYOR