2nd Thought. Taking another look on the another look. Ummmm...maybe there is a bullish case after all....all said and done.....let market action dictate the action....
Alternative count which has maybe become the prefered count. Base on the original count prices is at the 4th wave. Anticipating a completion of the corrective 3waves of the 4th wave. Whichever charts, actually predicting a 5th wave down, all that is left is the timing of it. Taking another look with trend lines plotted in, 4th bwave may have actually complete and stalling. So, should be actually anticipating a 5th wave.
http://www.theaustralian.com.au/business/opinion/the-gillard-factor-on-markets/story-e6frg9lo-1225883721821
ReplyDeleteOn Wednesday, Hartleys had some prescient advice on the mining service sector: those expecting an outcome later rather than sooner should stick with providers with a low dependence on greenfields projects and/or with exposure to overseas operations.
The firm nominates Fleetwood Corp (FWD), Mermaid Marine (MRM), Neptune Marine (NMS) and Logicamms (LCM) for established projects, or Imdex (IMD) and Ausdrill (ASL) for offshore projects.
For those expecting an imminent outcome, stocks with limited earnings visibility beyond one year deserve a guernsey. These include NRW Holdings (NWH), MacMahon Holdings (MAH), VDM Group (VMG), Lycopodium (LYL) and Decmil (DCG).
"The nature of mining service contracting means that share prices are highly dependent on confidence, given earnings visibility generally extends for only three to 18 months," the firm says.