ATC 0.00% 13.0¢ altech chemicals ltd

amp to fly

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    I understand many have been predicting a recovery of sorts for this fallen angel, but have missed the mark. By this time next week we will see AMP at 550c level based on a number of factors, but essentially the build-up to the closing date of the retail share offer. On top of this, the shorts are getting a little nervous with their over-exposed positions and will look to start closing out their positions.
    We have had a few false starts in the last 3-4 weeks, but this time will be different because of the buying support that will emerge from one or two buyers that will trigger much more takeover speculation in coming weeks.
    All-in-all, markdown todays date - 6/6/03- a turning point for the not-so-big-anymore Australian icon.....

    As always, just my thoughts.
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