Forum Archive Index - November 2003

["Duncan MacGregor" <d-m_macgregor@xtra.co.nz>]

Lets not forget why the share price Increased when the profit dropped.        McConnon Norgate duo bought 6.8 pc of the company at$1.45 and are still short of what they Intended.      Will they buy big now that the price has dropped or will they wait until the next profit downgrade?.       That may or may not distort the price In the short term.      In the long term Wri will come good, but for now my money Is elsewhere.      I dont beleive In holding a share on the down cycle.   My prediction Is another profit downgrade next time, It must happen.     Then we have the snouts In the trough to consider, plus them throwing money at genesis research.
It Is not a good time to start lending money to an Industry that Is on a steep profit decline I can see all sorts of problems In that.
We may see odd rises and falls In the share price depending on the Norgate McConnon Influence.
There are to many good Investments without hanging on to something like that at this moment In time.
       cheers macdunk