WOW, not meaning to blow my own trumpet but CWN has touched $10 even before I thought it would, I was thinking a few week ago when it was still $12.50 or so, its gonna be many many more months before CWN hits $10, and its happened sooner than I anticipated.
Bad chinese GDP numbers are to blame I believe, less the chinese are doing well, less doing to macau to gamble, with so many chinese badly burnt by the stock market, I think they had had enough gambing for a while.
Back to CWN, I am no expert of course, just an armchair observer with 15yrs experience in the market, my next target 12mth target for CWN is $8.50, I think that will be a good entry point for the LT holders, I wouldn't be going all in at the moment, as the charts look shocking, no support in sight, but it could bounce $2 or $3 from here before resuming the downtrend again.
good luck everyone, we will be needing it.
(I don't know the packer family of course, but I cant resist a parting shot, if Kerry were alive now, he would be so furious with young james he would give him a smack across the chops for investing basically the entire family dynasty fortune into gambing, I know Kerry was sometimes a forgiving bloke, but I think Kerry wouldn't be so forgiving if he could see what CWN stock is now, and that james is down so much in paper wealth over the last couple of yrs).
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