yup. Short covering. Looks ripe for shorting if it goes up again...

yup. Short covering. Looks ripe for shorting if it goes up again tomorrow. Nothing has actually changed except they just decided to cut staff. There's no profit updates (which problably is close to negative 3 billion or more depending on the writedowns from Masters, BigW and redundancy packages and restructuring). None of which we have concrete data on except what was told today by mouth which has every chance of snowballing. Only thing I'm interested in is whether you have to be a WOW shareholder to subscribe or own shares in the Liquor and hotel/gambling business spinoff (which I believe is among their safest assets...i.e monopoly). Which still comes down to true break down of actual data of how profitable or not profitable is their liquor business.

Only positive thing is the new CEO is at least taking action rather than sitting put. Where before when the opened a new Woolies you see all these office execs in immaculate suits come and have a look and pat themselves on the back. Even though the Coles next door is bringing in 5-6 times the sales
and customers.