buying opportunity coming, page-22

Mar's,

yes - its a perhaps .....

there has been a steady inc in short positions in both jbh / hvn over the past 3-4 months ........to me - this suggests the big guys rekon there is a profit downgrade coming (so far correct for jbh).

we have seen falls in auto sales / sales in pharmacy's .......why should consumer electronics / household whitegoods be different ?????

we have seen the "top" in housing in both syd / melb markets - see core-logic for data.

as you say - hvn should get a net benefit from O/S stores (with falling A$) - concur with your thought !

however - stock has been falling since late 2016 - so sometimes its just easier to let it find a bottom - and then get more excited !

we are also seeing some evidence of tightening access to credit (royal comm - see recent comments from ANZ chap), plus inc in funding costs .............I rekon there are lots of people out there that have the "equity mate" line of credit - and this has been funding lifestyles for 3-5 yrs .......anecdotal evidence suggests this is also changing .

I most defintly don't know where a bottom is - but its an ok to reasonable company - so its on my watchscreen ......

will keep watching with interest !

rgds

V_H