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A long, long time ago...

I can still remember

How that music used to make me smile.

And I knew if I had my chance

That I could make those people dance

And, maybe, theyd be happy for a while.


But february made me shiver

With every paper Id deliver.

Bad news on the doorstep;

I couldnt take one more step.


I cant remember if I cried

When I read about his widowed bride,

But something touched me deep inside

The day the music died.


So bye-bye, miss american pie.

Drove my chevy to the levee,

But the levee was dry.

And them good old boys were drinkin whiskey and rye

Singin, thisll be the day that I die.

Thisll be the day that I die.


Did you write the book of love,

And do you have faith in God above,

If the Bible tells you so?

Do you believe in rock n roll,

Can music save your mortal soul,

And can you teach me how to dance real slow?


Well, I know that youre in love with him

`cause I saw you dancin in the gym.

You both kicked off your shoes.

Man, I dig those rhythm and blues.


I was a lonely teenage broncin buck

With a pink carnation and a pickup truck,

But I knew I was out of luck

The day the music died.


I started singin,

Bye-bye, miss american pie.

Drove my chevy to the levee,

But the levee was dry.

Them good old boys were drinkin whiskey and rye

And singin, thisll be the day that I die.

Thisll be the day that I die.


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Anglingdarma; relax.

SYDNEY, 2 June 2009 ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Macquarie Group Limited (Macquarie) advises that it has successfully completed its Share Purchase Plan (SPP), announced on 1 May, receiving more than 55,000 applications from eligible shareholders for approximately $A669 million of new Macquarie ordinary shares.


Macquarie Chief Financial Officer Greg Ward said Macquarie will accept all valid applications received under the offer, resulting in the allotment of a maximum of 25.2 million new Macquarie shares. The actual number of shares to be issued is subject to final processing of applications but will not exceed 25.2 million shares. Under the previously announced terms of the SPP, the shares

will be issued at a price of $A26.60 per share and are expected to be allotted on or around Friday, 5 June 2009.



"accept all valid applications received": looks likely that there won't be any scaleback.

I guess my gut feeling was right.


Cheers, Tortoise.

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I intend to sell some MQG to lock in profit, but feel the rest are worth keeping as they are now well capitalised. The downside is that they will probably not pay a totally fully franked dividend due to their overseas interests, but this should be more than made up for by their prospects for growth.

Cheers tortoise.

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Maybe it's time for a fresh look at MQG; a lot has happened since late February, when I saw early signs of a recovery, while still mindful of the danger

But then again, the recovery can still fail and MQG's sp bomb through the $20 support - a level not seen since (briefly) late in 2002. In which case I'd rather hope holders don't see the target that the 2-year Monthly chart seems to suggest.
Well, bomb through $20 it did - to $15 even - but not quite as low as my worst-case target "possibly below $10".


The weekly chart - for medium to long term investors - turned positive again in the last week of March.

Until May, it was all straight up; then came a brief pullback, with a chance to buy the dip, after which my first target would have been the 161.8% level at about $51.80. As that has been cleanly broken, there's a decent chance of further advancement.




Closer still: The daily chart is also between the chairs: There is a threat of some downside to close the gap below Thursday's Open; if the price were to drop much further - say, close below $50.50, which is Trinity's current trailing stop with a risk factor of 1 1/4 daily average range - one might sell and wait for a chance to buy the next dip. Otherwise, I'd set my sights on $55.50 and watch closely whether resistance will force it back from there, or momentum will carry it through to even higher levels. But I wouldn't sell just yet.



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