RE:RE:RE:RE:Dropped Below Previous 52 Week Low Todaystevanage - WOW, talk about jumping to conclusions...
What I said is that a short covering exercise is generally an indication that the market believes that the price of the stock is going to rise - nothing more, nothing less.
My behaviour is a better measure on my opinion on where Transalta is going. The last thing I held was $11 puts for September which I recently sold for profit.
I have not expressed much in the way of opinion about Transalta on this board. So here goes:
The recurring behaviour seems to follow the pattern of too little, too late. This essentialy means that the strategies chosen do not work. That is either a case of a bad vision or insufficient agility to execute. Either way it comes back to bad management, IMO. IMO,these folks are not great visionaries who are having a few mis-steps, there seems to be a consistent pattern of bad strategy and tactics emerging. I'd say something has got to give soon. Forget cash flow, dividend payout is still double EPS so this company is eating its capital to pay a dividend it can't afford in the longer term.
It is time to clean house here and I am not sure why the status quo has such a grip, given the impact on the shareholders in the last few years.