BIL brambles industries limited

...for those who enjoy a good short!!!!!!

  1. 1,200 Posts.
    Have a look at the head and shoulders on BIL with support around 8.70. I rarely trade options/warrants but seeing this chart on the weekend I couldn't resist a punt.I expect no good news from this company in the near term and downward momentum should carry the day.

    This is risky in the extreme but I reckon with end of year tax selling this one should end the year lower than where it is now......which means a move into the abyss!!!!! Expect another CSL but worse if this happens.

    I've bought June and Sept puts (equivalent to shorting 100k of stock)........it's possible I'll lose the lot on the junes if BIL closes at 9.00 or above........and I break even at 8.50.......the Septs I'll add to if and when a week closes around 8.50.

    Don't necessarily do what I've done and try and pre-empt the drop (it'll move fast if it goes so I've got in early.........but far riskier) but watch for a break of the neckline as it could be a rare opportunity.

    Cheers,
    Ed.
 
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