No reasons for a short squeeze in my view because there is no wheat for sale in AWB. There monopoly ends mid 2008 and we are currently in a drought. What else can go wrong?
A court ruling against AWB perhaps!
I can not see any reason why investors would buy into AWB now. My chart only goes back to 2002 and today’s closing price is the fourth lowest in history (since 2002)! The previous three occurred all in the last fortnight, i.e. $2.23 on the 4th/10, $2.26 on the 9th/10 and $2.27 on the 11th/10.
AWB’s is doomed imo.
Todays article: "We're not corruption-free yet: Iraq minister" and no wheat for sale http://www.news.com.au/heraldsun/story/0,21985,22601782-5005961,00.html
Iraq Trade Minister Abdul Falah Al-Sudani and Australia's Trade Minister Warren Truss - “But both men said their countries looked forward to the grain trade beginning again, although the current drought meant that could not begin this season."
AWB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
