Woolworthe turnaround continues, page-36

good to see woollies getting some sp gains recently
i sold out at 23.40 after a short time as i needed the money for other investments after buying in at 23.60, but it has traded like a yoyo since then.

im nit sure selling the petrol stations is a great idea at the bottom of the cycle, but if they can get a fair price and they can retain branding of the supermarkets at petrol stations then thats not a bad outcome.

i think in the medium term that petrol stations will become slightly more profitable with a growing population density in most cities and slowly rising oil prices to buffer margins, and it would be sad for woollies to lose the economies of scale of having a mini-mart in every petrol station to increase overall sales.

im staying on the sidelines for the short term regardless of price, but i agree with the TAs that it wont dip below $20-21 as there is a lot of support on good volume there. once the turnaround momentum has begun, the analysts and institutions will jump on board quickly and it will shoot up, but im guesssing this is a year or so away. probably reasonable to hold in the meantime if you cant find anywhere better to invest, and lets face it there is not much value to be found in share and property markets at present.