Buy Time, page-6

I will admit to being a little nervous when I saw the headline 'FY 2015 Trading Update' on Friday morning before opening up the document.

I knew an upgrading in expectations will most likely lead to the beginning of a re-rate, which could potentially last a few years at least. But a smidgeon of fear broiled and burned in the back of my mind that it could another profit downgrade.

I did not expect such good movement in SP, but really should not have been surprised. This company has been so beaten down over the past year or so that the SP was built on the back of extreme pessimism and almost failure. Fear had driven the SP down to the point that any piece of good news should have lead to a dramatic rise in SP.

So I bought in the mid-40's. Hesitant but knowing the best time to buy is when fear make investors do strange things.