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ASX was 11.50++ and my broker was saying that he was selling (3 months ago) as the market was not conducive to an active increase in price. When this stock was around mid $9's I enquired again as to whether the stock had bottomed and he was on the affirmative.

I asked the following questions of him.

Would he buy stock?

No as there are better stocks to buy in the market in blue chips around that price.

Where does he see the stock going?

September through to Rocktober is the worst month for stocks indices world wide as they are subject to calibration testing due to the economic data available through US. This stock will be subject too market indices. Buy time would have to be Feb and do not hold past July. Take profits and run!

Long Term?

Long term buy and hold philosophy not gd in current situation regarding '' overvalutaion. Expects a rearrangement of the deck chairs on the titanic and when a correction in US NASDAQ then this will affect ASX share price greater than any other stock...

Sellers far outweigh buyers to date so the money going out is the stockbrokers....

IMO this is one persons statement yet it is interesting to gauge stockbrokers sentiments on stocks such as these.

BTW this stockbrokers attitude is to go in low sell high. Amass short term hit and run approach to top 20 stocks and maximise dividend potential.

He HAS made some money....

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