Income Report / Stand Out of the Week

By Market Matters 29 November 13

Stand Out of the Week

The sector there is simply no reason to play
  • Forge Group Ltd – FGE recommenced trading after being suspended for 3 weeks prior to below announcement. 
  • FGE updated their expected earnings with a loss of $85m-$90m, after a $127m profit write-down.
  • Technically, FGE has been in a technically bearish set up but the degree of fall surprised all. 
  • With recent downgrades within the mining services sector, we now focus on companies who have not yet updated the market with their earnings.
  • I repeat there is simply no reason to be in this sector, similar to my long term view on airlines.
 


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