News: UPDATE 1-Australia's Woolworths cuts dividend as half year profit slides, page-5

Might be time to close that short.

Agree at the first glance the results look to be poorly.

However it is encouraging to see in the results what it feels like at the store. That is that more people are shopping at woollies and prices are more reasonable versus what they were.

Also while the dividend has been cut versus same time last year it looks like a much lesser cut to the dividend we saw six months ago. I speculate that this is the last of the dividend cuts and we will see dividend increases in the future.

Post the sale of the petrol business it looks like the balance sheet is going to be pretty good.

I expect the stock to be volatile however overall have upside.