Since the last major share price upgrade, HVN shares have traded in a wide range between $3.60 and around $4.50, which is a 25% overall range. At $3.60 the company is trading on a forward PE estimate of 11.5 times, and a dividend yield of over 5% fully franked. These estimates may prove to be too conservative, however, and we see the potential for an upside surprise given the strength of the economy. Continue reading »

While we don’t foresee holding QBE for such an extended period, it is worth noting that once the market’s focus is on rate rises (and in true stock market fashion this will happen much sooner than later) we believe it will be the next catalyst to drive the QBE share price back near the top of it’s range. Continue reading »

With the market back at highs in the current range, we consider that lightening up our positions is the most prudent move to make. We remain of the view that the best opportunities in this range bound market will be found at the bottom of the range, and we await a move back to around 4500 points or when a solid opportunity presents itself. Continue reading »