Contact Energy - CEN Chart

[sb9]

Starts ASX trading tomorrow 11AM AEST (1PM NZT) under ticker code "CEN".

[fish]

Starts ASX trading tomorrow 11AM AEST (1PM NZT) under ticker code "CEN".

I got the implications of that wrong.
Has caused massive selling.
Bought some more at 4.94 at close but will probably drop more tomorrow as lots of selling pressure.

[Hectorplains]

I got the implications of that wrong.
Has caused massive selling.
Bought some more at 4.94 at close but will probably drop more tomorrow as lots of selling pressure.

My assumption was the same! Why has it caused increased selling?

[Snoopy]

My assumption was the same! Why has it caused increased selling?

Remember those Ozzie institutions got their shares at $NZ4.65. At $NZ4.95 they are still booking a good profit and are freeing up cash to invest in the downtrodden Aus market, a market they understand. The question is, now they are selling at what seems to us such a bargain price, will they be prepared to keep selling all the way down to $NZ4.65 equivalent?

SNOOPY

[Jantar]

.... The question is, now they are selling at what seems to us such a bargain price, will they be prepared to keep selling all the way down to $NZ4.65 equivalent?

SNOOPY

I hope so. Then I shall get a few more at the right price.

[Hectorplains]

Remember those Ozzie institutions got their shares at $NZ4.65. At $NZ4.95 they are still booking a good profit and are freeing up cash to invest in the downtrodden Aus market, a market they understand. The question is, now they are selling at what seems to us such a bargain price, will they be prepared to keep selling all the way down to $NZ4.65 equivalent?

SNOOPY

Ahhh, yeah they've banked the divy too. Cheers for that, Snoopy.

[troyvdh]

Gee I wonder if Sir Ralph perhaps regrets his new position....he does come highly recommended....

As snoopy says can "El Nino" be our saviour...

[sb9]

Well, seems as though Australian Super likes them going by the SSH notification.

[peat]

Well, seems as though Australian Super likes them going by the SSH notification.

it likes selling them at anything much over $5and it only has 34M left.


ASFund CEN.JPG

[Coles Killer]

Will El Nino actually help Contact Energy sans Otahuhu B power station? Te Mihi makes 165MW whereas Otahuhu B is 370-400MW... so presumably Contact's ability to go long on their generation portfolio is reduced.