Daily Murmur 09/12/10

by Gary Glover

 Hastie has been oversold after indicating to the market in November that earnings would be heavily skewed to the second half of the year but EBIT would remain similar to the FY2010 level.  This concerned the market at the time and I think the market has overreacted and this sell off presents as a short term opportunity as I expect a reasonable bounce to occur in the short term.  Could bounce to the $1.15 in the short term.

Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.