I was in on the October correction Puffy, just a few days after I'd bought in at 149p - a real Halloween frightfest. IIRC the SP hit an intraday low of 132p at some point. One month later Harriet had delivered good results and we were at 179p - an upswing of 35% in 4 weeks. The fundamentals were good then and they are good now.
Watching this share with great interest again. I exited at 178p last November and always thought we'd probably see 155p again before we saw 200p... but this seems *way* undervalued to me. I am hovering over the "buy" button.
Now at -16.24% since high of 189.6 in early March so a true correction. FTSE250 nearing -10% so also in correction territory.
For TCG this means a 100% correction Low High Low since 28 Jan low of ~164, and a few percentages on top. Means we will see a bounce but it's hovering around 200MA which I don't like. We may see low ~150s if Ukraine flares up, as of right now indicators don't point to it.
So now that all the recent lows have been revisited and backfilled with new cash, weak longs consolidated means when we are back in the 180s it will be smoother sailing attacking that stubborn 189.
Long term holders of this winner will remember past corrections:
05-Aug 170.6 28-Aug 132.116 -22.56%
16-Sep 159.7 29-Oct 135.97 -14.86%
And of course we have ourselves a nice yummy bounce to look forward to, a few golden oldies:
29-Oct 135.97 29-Nov 179 31.65%
28-Jan 164 06-Mar 189.6 15.61%
15-Apr 158.8 ??-?? 195 22.80%
I need to re-assess my short-mid term timeline, but 195 is very still on the horizon provided we move further away from 200MA ~162.
207 31/12/2014 close, much higher intraday prices in Q4.
Who cares if 20+ people got the s*** on holiday? This is all about US Indices. FTSE is like the lost little kid at moment and with Ukraine still hovering around, doesn't quite know what to do. Just waiting to follow it's bigger brother(s) over in the US pond. So it's all about the S&P/DJIA/Russell correction and how bad it's going to get. Question today is, are we seeing a bear trap and a sideways recovery due to + earnings or a slide down to test the 200 day moving average around 1760 for the S&P. Personally, I'd prefer the latter, sooner this is over the better and we can enjoy earnings season on the bounce, which is what most analysts think will happen. Cook will follow suit. Look out for Coca Cola, Intel, Yahoo, Johnson Johnson this morning and then what US S&P futures are doing before the open.
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