Forum Archive Index - April 2004

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Macdunk,
 
> perhaps you can enlighten me.    why did cen drop
> today after a great profit announcement
>

Most of the market dropped today Macdunk.   I don't think the drop in 
Contact Energy was company specific.   Relative to the overall 
movement in the market, I don't think CEN dropped at all.

>
>and In the same market pwc the lines company went up 7 cents to an 
all
>time high.     I know pwc are paying 8.8 cents divi in June but that
>wont explain the contrast to me.     
>

I think the PWC rise is in connection with the announcement of 
corrnerstone shareholders selling out.   Apparently they hope to get a 
20% premium for their stake.  Perhaps the market is anticipating a full 
takeover might be on the cards for PWC now?

>
>I must admit I sold cen made a modest profit but 
> I think I was lucky enough to pick winners that
> bettered their performance.    The reason I sold was 
> simple too many snouts In the trough for me.   
>

After a lacklustre start, I am more than happy with my 80% capital gain 
in CEN plus dividends over the last three years.    If you have done 
better than that, then good luck to you.

Too many snouts in the trough?   The board of Contact numbers only 
six and I don't think you can argue they are overpaid.   Perhaps you 
can still smell the stench of the four million dollar man that went back 
to England.   But that is ancient history now.

>
>Keep It up Snoopy I don't have time to
> dig deep always read your posts.    
>

As I do yours Macdunk.

>
>I must spend more time I only have
>three at the moment PWC HQP POT all well thought out and well 
ahead
>but the spread requires Increasing to much risk even If Its gains like
>I have had.
>                                   

Still time to pick up some RBD before the dividend payout Macdunk ;-).
And keep an eye on that Norgate bid for WRI shares too.   If it fails and 
the share price falls back I can see a 'top up opportunity' there.

SNOOPY

discl: hold RBD, WRI and CEN

--
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on Pegasus Mail version 4.02
----------------------------------
"Dogs have big tongues, so you can bet they don't 
bite them by accident"


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