Wednesday, March 10, 2010

Trade 241: MYR rebound imminent


Myer reports tmr, and there's more upside risk than downside, given the retail climate in recent weeks.

http://www.smh.com.au/business/lower-costs-higher-margins-set-to-propel-myer-djs-20100310-py7l.html


I picked up 1000 long @ 3.47 - the technicals are also sweet, with a clean breakout on good volume.

The asx200 index inclusion will also be a catalyst that could drive the price back to it's issue price.