i was negative on coles myer 2 months ago, and continue to get...

i was negative on coles myer 2 months ago, and continue to get more negative. a lot of instos weighed in heavily as soon as fletcher was appointed, i would imagine many would have given him a chance until now, even the patient ones must be now considering bailing. it is simply not cheap despite the falls ( just because its cheaper than a year ago does not make it cheap) and the prospects are dismal. many years ago there were nowhere near the amount of alternative small specialist stores competing with myer. why now would u shop at myer, target, kmart when these 3 stores are always surrounded by in close proximity a multitude of smaller specialised stores which offer far superior service and better products for a better price. and the supermarket and liquor division are always running second to woolworths. Put your money into REBEL. a virtual monopoly when it comes to selling sporting goods. their results to be released soon should be fantastic on the back of a strong ski season (this depressed earnings last year) and it has also now had a bit of time under gerry harvey's eyes, and there are by no means an abundance of stores around, profit growth has plenty of scope to get even better thru more store openings. should be priced around 15 times next reported earnings, also with the outside chance of harvey norman making a mop up bid for the remainder of the company given the overall market cap of rebel. trade of the year is to short CML at 5.90 and buy rebel at $2.