Only issue with your analysis is that DOW is not just mining services (the downtrending sector) of which you speak, there is Downer Rail (which has Metro (VIC) trains, TNSW trains and other major contracts) and Downer Infrastructure totally unconnected to mining. The mining services comments that the press pick up are not the full picture. Therefore there is no misapplication of the T/A but a misapplication by traders short selling or selling based on a misapplication of the F/A.
Your T/A comments would be correct but for the misapplication of the sector to the stock.
much less than expectation, page-8
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