I agree that director buying means very little today especially when we consider the amounts these guys are trading in. The most frustrating thing with this stock is the lack of disclosure. We can only hope that the underlying business remains sound otherwise there may be a case against the directors for failing to disclose material changes to the market in a timely manner. I don't think the management are completely hopeless. They are pretty good at overseeing the complete destruction of shareholder wealth.
Maybe we can get Slater and Gordon to launch a class action against these guys for failing to disclose (if bad news subsequently comes out)or just get A Current Affair to do a piece on them. Anyone keen to give Tracy Grimshaw a call?
PBP Price at posting:
46.5¢ Sentiment: LT Buy Disclosure: Held