Wednesday, 9 January 2008

It's a sin? Adding to CFC losing position

Buying some CFC at $4.72, just under $5k worth. Having bought some in the $6's yesterday, I'm gonna average in a little. If it goes bust, then I lose $11k or so, which is more than manageable anyway. My bet here is that it survives for now, trades up on a quiet news day and an up day in the markets, and also I bet we get some takeover rumours for it. If BoA were so interested in the 40's in early '07, in the teens in late '07, then surely they'll be interested in single digits now? We'll see.

5 Day Chart of CFC


No comments: