Your targets are pretty good. I don't see this getting over the asset value per share (77c). I have a concern about future write downs too. If it does go over 77c, it would only likely be a candle (i.e. unlikely to hold) and a good time to sell IMHO. I think there may be 1 or 2 chances of this before the dividend run leading up to end of Dec record date. But being Oct (Go away in May, come back in Oct) this price drop may be the time to put them in the bottom draw until record date.
I personally, have been sitting on the side waiting for this movement for a while now. I think it will be a potential pivot in the next few days so re-entry is on my cards. With the big drop in the Dow over night, no real pushing from the buy side a big drop / quick recovery may be on the cards today. The last hour should be pretty interesting. I think it has been in buy range a couple of times this week (the 63/63.5c mentioned in this discussion have been real good targets) but will be aiming for a 5-10% lower price than that now. But, at the end of a day this is only a guess and Mr Market will prove me right or wrong. Good luck to others (holding and not holding at the moment - you will have relief soon holders).
MCW Price at posting:
65.5¢ Sentiment: None Disclosure: Not Held
