Unbelievable what I am seeing, "Australian business conditions climbed to its highest since early 2008 in August with a marked improvement in employment intentions burnishing the outlook for further jobs growth"... most of the financial sector is up, up quite well as well, but flexi is down?
Seriously, I have to question how the market works sometimes... I cannot understand why flexi is down on a day with that kind of headline, which would imply increased spending, and I also can't get my head around why flexi is even remotely close to $1.50... it should be closer to the $2 mark if anything!
We continue to await a long needed re-rating... hopefully confirmed by half year (about 5 months away), and worst case, at the end of this financial year (another 11 months ish from today)
FXL Price at posting:
$1.58 Sentiment: Buy Disclosure: Held
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