BK's view on the 26/11/2001
CML. 26/6/01 2:50:22 PM
In a report dated approximately 3 months ago Ord Minnett now known as J.P. Morgan valued at 6.11, Coles defied the pundits and rose to above 7 dollars as mentioned previously on the thread, I think it is a reasonable proposition for a short term trade (60 weeks) to acquire CML down near 6 and exit somewhere up near 7 these comments aren't written for anyone who has a long term holding in CML who may have even averaged their price paid down over the last month or two, (situation is different for all investors as no two people are the same.) I think with bottom fishing as the Americans call it, or Bottom picking as Australians call it "bottom pickers have smelly fingers" my broker at Ord used to say--LOL it always pay's to wait a few days for the dust to settle and not be over eager--in my charting analysis, mentioned once again on the CML thread the very bottom for Coles is 5.80---this is the chart and excludes any fundamental factors affecting Coles as we progress through time. To buy at 6.11 with a give or take 30 to 40c I believe with a proper inbvestment perspective and time view is a reasonable proposition. You should in my view be aware of the following factors. 1) Opportunity cost of capital. 2) Risk reward and safety. 3) Personal things. 4) Market risk. 5) Systemic risk. The above are views and is not mean't as advice, please seek a licensed proffesional before making any decisions on the stockmarket. Cheers. -------------------- cml COLES MYER FPO Market Status: Normal Time: 26/06/2001 - 14:39:00
6.3100 0.2000 3.27% High Low Opened Closed Trades Volume Traded All Ordinaries 6.3500 5.9700 6.0500 6.1100 2781 7183398 N/A N/A N/A
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