Tuesday, August 11, 2009

CEU traffic update and other buys

CEU had a timely uplift in average daily tolls to 158,882 for the month of July. With the increased average toll of $3.22 (ex GST) - CEU is getting close to cashflow breakeven (somewhere in the 160k's depending on your running cost assumption). I'm (hoping) for some market weakness to jump back in...

In general, remain of the view that the markets are marking out some kind of near term top. On the long side, hoping for opportunities to buy ALZ at $0.40 and IIN at $1.60.

Have sold out of NCM - been trading gold like a dog. The key to near term market direction is the USD - and it looks to me like its found a bottom (supported by the fact that bearish sentiment in the USD is at an extreme).

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