Forum Archive Index - May 2000

[Derek Watt <dkw@paradise.net.nz>]

my 2 cents-
ITC has been pretty stable at 29-30c since the US 'correction'.
Its difficult to see them loosing more ground since the asset
backing is supposed to be about 19c. Therefore I surmise that
short of another US 'correction' there is little to loose by buying
ITC at the moment. It can go up to 40c quite easily from here,
as it has done in the past. It just takes something like the
DFM play of the week to give them a push.

Short of that one could wait for another downturn in the US before
buying, but even then it is hard to imagine them falling below 20c,
and of course they would be worth holding on for the long term anyway.

Derek

(don't own any ITC or ITCOD, last sold ITCOD at 32c)
(Haven't read play of the week yet)

>In the US market ICALF(ITC) finished at .17c and although down 2c from
>yesterday we just can't get over .30c in the NZ market.. its DFMainland
>play of the week on their site and I bought more to-day at these prices,
>crazy or profitable long term hold? Thoughts!


 


-----------------------------------
Derek Watt 
http://www.blackrobin.com
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