Bigger picture25 Sep 2014 19:48
There's also the bigger picture re SP drift. The whole market, FTSE, AIM etc is well off its highs and trending lower at present. Crude, wholesale gas and lecy are also trending lower. Add to that the specific 60 per cent drop in ALK's PBT earlier this month and its rights issue didn't help. To the 'rational' investor ALK isn't much of a buy at the moment. Those of us who see the longer term picture should still do well - probably better than Wooly's 46-49 forecast for this winter!