mango,Agree with your definition of defensives. But also...

mango,

Agree with your definition of defensives. But also acknowledge that defensives is not a term you can use to describe the share price chart gyrations.

noomx,

I have followed your advice so far. I am not true to my signature, keep getting tempted to buy "cheap" stocks lol, cheap being relative to previous prices. Must be something about charts going down at a 45 degree angle (got burnt big time following BSL like that, though you could say can't compare BSL and WOW, chalk and cheese). The debate between WES and WOW emerges because to me it seems that institutions have a certain allocation of money to invest between these companies, regardless of their absolute earnings potential, and at the moment, the balance is biased towards WES. The bias is not justified by the P/E multiples of both companies so it must only be the sentiment that "Coles is doing better" which explains the market's choice. The pendulum will swing again as it usually does.

Mike,

With all due respect, can I ask why you place so much emphasis on RM's analysis?

Stefanis,

Some good analysis there.