batteries agan, page-3

I sold out of ERM - code EPW because of this concern. They are great traders but they have these gas peakers but if the grid gets more stable we end up with less of the high pricing events and that reduces the value of these units. I think that living inside the SA bubble has taught me that things are changing very fast. That's why I re-invested back into IFN.

However whilst I understand your logic re the refinancing I sometimes think a stock is doomed to have bad luck. This may well be mine - if we are at the lows of the interest rate cycle it's logical that when they do get to refinance ( to reduce interest rate) the cycle will probably have turned and we will be refinancing at higher levels.

Cautiously I sold half my stake in IFN at breakeven just on the day of the results so I am left with half and even that now bothers me. There are just too many moving parts in this industry. I thought AGL said no more investment in coal-fired power stations then they announce a $200 million upgrade to Bayswater.

I am not sure you can see far enough ahead with all these moving parts. Just looked at my bill - its down 75% on last year and probably about 15% of what I used 4 years ago...

GLTAH - I think we may need it. If you followed your rights and invested at 89c you must be a bit unhappy...