Give it a month as this is what it consistently takes to clean sweep the register.....purging the old holders for the new. Research quantatively supports the view that a company the puts out such a update underpeforms for approx 1 month.
In one month we'll see FY13 tax loss selling, further collapse of AUD to 90c combined with the RBA now likely to drop interest rates. But not game to predict POG. Irrespective, this is akin to the starter loading his pistol and moving into position.
The assets are still tier 1. If they can't turn it around then no one is likely to in the sector.
NCM Price at posting:
$12.35 Sentiment: LT Buy Disclosure: Not Held
