Forum Archive Index - October 2001

["nick" <helmett@xtra.co.nz>]

       In the longterm this stock still looks attractive, they have had
a few competition problems to contend with but these have now
settled down. The aquisitions in australia appear to be bedding in
well. Analysts still regard the stock as having decent fundamentals,
so why has the price fallen so far?
      1. The flat interim result. Growth has temporarily stopped, there were
a number of reasons for this, unfair competition in auckland (dealt to)
slack construction sector (rebounding) and offshore development
expenditure. In the medium/long term the situation should improve.
       2. The trade centre bombing has affected WAMs stock price
          more than others simply because when all stocks fell the money
flowed
         back to stocks which were already in an uptrend before the
terrorism.
         The stocks which were already static or falling have had the fall
         accentuated. ie fletcher forests. wam etc
             Now  the uptending stocks have recovered to some extent,
attention
             will probably now turn to those which remain oversold.
     For those who like the technical indicators a few are starting to
indicate
that the price may be about to turn.  My favourite indicator  "the chatters
index"
is definatly showing divergence .  When a stock is discussed here as being
oversold
chances are the price is about to turn

 Nick




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