BIL brambles industries limited

Crashy shorts BIL, page-9

  1. 17 Posts.
    My 2 bobs worth on a couple of your positions

    BHP top trade. I now am looking for a long position here – but will see what Monday brings.

    Writing calls on SGB & NAB is a tricky one.

    I was tempted yesterday to short NAB but waited. It seems that we have a number of the big houses in town - ABN AMRO for one – being very bullish on NAB with a $40 target. Today’s chart has now confirmed the price break-out here, closing above the peak of 28 February. Whether it will hit $40 I have no idea, but I would rather be long that short NAB at present.

    With SGB, even though it is over-valued, I suspect it will loiter around the $19.50 – $21.00 mark at least until the first of July when the restrictive articles expire, when it will be up for grabs. Our headline seeking head of the ACCC will no doubt pass judgement on someone like NAB who might want to take over SGB. This will almost certainly impact on the share price. (I have had a long position in SGB for about 7 years.)

    I can’t figure BIL at the moment. Its chart is showing recent higher highs & lower lows - although no change in overall trend. Last night I thought it was a short but it opened above yesterday’s close and didn’t look back – a strong finish for the week.


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